Los Cerros extends mineralised zone at Colombian gold project
Colombian-focused gold-copper explorer, Los Cerros Limited (ASX:LCL) has provided a promising update on its drilling program at the Quinchia Gold Project’s Tesorito prospect in Colombia’s Mid-Cauca Belt.
In particular, the results have provided critical information for deducing orientation of the porphyry suite and controlling structures.
Importantly, hole 11 has extended the mineralised zone by about 100 metres further west of the previously encountered 253 metre intercept in hole seven, potentially extending the volume of the envelope in a westward direction.
Returns from TS-DH10 and TS-DH11 at the Tesorito southern porphyry have been received, demonstrating a further broad interval of porphyry gold.
This has substantially improved the understanding of major controlling structures, opening up the potential for extensions at depth, to the west and to the north-west.
Hole TS-DH11 recorded 262 metres at 0.84 g/t gold from surface including 32 metres grading 1.7 g/t gold from 144 metres within 66 metres at 1.3 g/t Au from 132 metres.
As indicated below, this intersection is broadly comparable to previous drilling at Tesorito south, with wide mineralised intercepts in diorite porphyry, magmatic breccia and coarse-grained andesites.
One of the most stunning intersections from previous drilling was TS-DH02, featuring a width of 384 metres and a grade of approximately 1 g/t gold from 15 metres, including nearly 30 metres at close to 2 g/t gold from 137 metres.
This ended in mineralisation with elevated copper, including 35 metres at 0.2% copper.
Importantly, the southern Tesorito porphyry target remains open at depth and to the north and north-west, and extrapolates north to join up with the northern porphyry target, with the possibility that the southern and northern targets connect at depth and form a much broader system.
Possible connection between southern and northern targets
Explaining the significance of the recent results in terms of gaining an understanding of the various mineralised trends that make up the Tesorito prospect, managing director Jason Stirbinskis said, “The company’s current drill program is designed to better understand the geometry of Tesorito gold porphyry mineralisation.
‘’Hole 11 is suggesting we are still in the mineralised suite some 100 metres further west of the hole 7 intercept, thus substantially extending the volume of the envelope of interest westward.
‘’Hole 10 effectively extended the envelope eastward about 70 metres near surface.
‘’Interestingly, hole 10 went directly under, and bisected, a cluster of highly anomalous molybdenum soil grades which to date remain unexplained.”
Management sees porphyry mineralisation characteristics and lithologies across the drill core database that potentially ties the southern and northern targets together.
On this basis, management is looking north or north-north-east for lateral extensions to Tesorito south, and this happens to line up with the northern target given its understanding of the structural controls.
As indicated below, the company is currently drilling TS-DH12 at the northern target before returning to the southern target to test extensions to the zone of interest.
Gold grade envelopes are extrapolations from drill hole assay results at depth and projected to surface.
Areas beyond the envelopes either lack sufficient information or are lower grade than the modelled envelopes.
Hole TS-DH12 and the additional northern planned hole are addressing areas of interest that lack sufficient information but show potential to host gold mineralisation.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
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.
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.