Los Cerros steps up drilling at Ceibal - is it the next Tesorito?

By Trevor Hoey. Published at May 25, 2021, in Mining

Less than a month after flagging the commencement of drilling at Ceibal, Los Cerros’ (ASX:LCL) newly identified porphyry target just one kilometre south-west of Tesorito, management has reported encouraging visual mineralisation.

This has prompted LCL to redirect a second rig in order to fast track the investigation of what is viewed as ‘’an exciting new porphyry target’’ within the broader Quinchia Gold Project in Colombia.

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 the 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.

Managing Director Jason Stirbinskis is hoping Ceibal can replicate Tesorito, saying, “The strong surface channel results and encouraging visuals from the first drill hole, combined with the ideal structural setting for potential porphyry occurrence, has prompted us to accelerate drilling at Ceibal.

'The close proximity to Tesorito and the similarity of lithology and structural setting bodes well for finding another Tesorito style, near-surface gold mineralised porphyry.”

Ceibal’s close proximity to Tesorito can be seen on the following map.

Similar drill core to those at Tesorito

From a geological perspective, CEDDH01, the first hole ever drilled at Ceibal, entered andesite at surface which bears considerable similarities to the andesite that forms part of the mineralised suite at Tesorito.

The entire 500 metre down-hole length remained in andesites, diorites and magmatic breccias visually similar to the Tesorito drill core.

The hole ended at 500 metres in andesite with low vein density, suggesting a transition out of the zone of interest, which is consistent with a decrease in surface geochemistry anomalism directly above end-of-hole (EOH).

Whilst assay results are not expected until mid-June, management’s degree of enthusiasm supported by the geological comparisons to the Tesorito South porphyry suite was sufficient to direct a second rig to Ceibal.

As indicated above, holes CEDDH02 and CEDDH03 are each on drill lines of about 100 metre spacings east of CEDDH01, suggesting results from those holes could well throw some light on what could be another significant mineralised orebody.


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