Los Cerros begins drilling newly identified target

By Jonathan Jackson. Published at Apr 27, 2021, in Mining

Los Cerros Ltd (ASX:LCL) has today commenced drilling at its newly identified porphyry target (Ceibal) ~1km southwest of Tesorito.

The emerging gold-copper play has embarked on its largest year of exploration drilling to date, with a view to uncovering the true size potential of its Tesorito and Chuscal porphyry prospects at its Quinchia Project in Colombia, , a cluster of porphyry targets surrounding the Miraflores Gold Deposit that includes the Tesorito surface porphyry and the porphyry targets at Chuscal.

Ceibal is a new porphyry target with significant scale potential and forms part of the 100% owned Quinchia Gold Project in Colombia.

Porphyry deposits are one of the most important sources of copper and molybdenum. They are also major sources of silver, gold, and tin and may host valuable by-products including platinum, palladium, and tungsten.

As we reported on 29 March, Ceibal has emerged as an early-stage prospect, generating significant momentum to warrant its escalation as a new 2021 drill target.

Ceibal has a substantial, 800m x 600m gold, copper and molybdenum, surface soil and rock chip geochemistry anomaly (no artisanal workings are present) on the shoulder of an air magnetic anomaly.

Ceibal’s surface anomaly is broadly comparable in size and tenor to that of Tesorito.

Further to this, like Tesorito, Ceibal is located within the Marmato Fault Corridor at a structural dilation or “jog”.

In fact, Tesorito, Miraflores, Chuscal and Ceibal are all within, or very close to, the Marmato Fault Corridor, with one such fault set extending north from Quinchia to the 4 million ounce Marmato Gold Mine.

A field program launched last year logged outcrops and float of andesites and diorites similar to those encountered at Tesorito. Trenching results across the anomalous zone has added to the excitement of this new target with significant surface gold reported in three channels:

  • 90m @ 1.4g/t Au
  • 75m @ 1.2g/t Au (previously announced)
  • 25m @ 1.2g/t Au (previously announced)

The diamond rig has been transferred 1.5km NW from Chuscal to Ceibal for the initial program of scout holes.

“We are particularly excited about this new target as it has the surface fingerprint of classic porphyry occurrences,” Los Cerros Managing Director, Jason Stirbinskis said.

“So we have directed the Chuscal rig to Ceibal to start the process of understanding this compelling target. The timing is ideal as we have a backlog of Chuscal assays pending and this break to drill Ceibal will also allow us time to assimilate that pending data before planning subsequent Chuscal holes.

“The emergence of Ceibal and Tesorito West, the new deep intercept encountered while drilling southwest and below the Tesorito South porphyry, is further argument that the Quinchia Gold Project is another significant hot spot on the mid-Cauca gold belt which already hosts many multi-million-ounce discoveries.”


View Our Investment Portfolios


S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X