(TheNewswire)
High Priority Target 2 atSalvadora – Tres Amigos
CALGARY, AB – TheNewswire – March 19, 2024 – SanLorenzo Gold Corp. SLG (“San Lorenzo” or“the Company”) is pleased to provide additional information on the TresAmigos target located on its flagship Salvadora Property.
San Lorenzo has identified six individual targets onSalvadora. Two of them – Tres Amigos and Cerro Blanco – are thehighest priority targets for additional exploration efforts tocommence immediately. San Lorenzo’s most recent press release (Feb26, 2024) pertained to the Cerro Blanco target. This press release pertains to the TresAmigos target.
San Lorenzo believes that incremental spending on theaforementioned two targets has the greatest potential to impactnear-term valuation.
The Tres AmigosTarget
The Tres Amigos Target area is characterised by multiple epithermal vein systems close tosurface. The known vein system extends for 2.5 km with widths up to200 meters – as evident from numerous surface artisanal workings andhigh-grade Cu-Au rich outcrops at surface. Since 2015, San Lorenzo hascompleted initial phases of exploration on the system includingsurface soil and rock sampling, limited IP and shallow depthconfirmatory drilling. Management believes that Tres Amigos hosts amineralized system that has a combination of scale and grade
that may allow San Lorenzo to build a significanthigh-grade copper/gold resource.
Surface and MineFace Sampling
Surface soil geochemical sampling has shown that thewhole Tres Amigos target area exhibits strong anomalous copper values- greater than 300 ppm within which two 1 – 1.5 sq km areas average0.2 – 0.28% Cu in soils. Mineralized outcrop and float samples fromthe two sectors returned values of 0.3 – 5.6% Cu and anomalous goldvalues from 0.174 – 4.14 g/t Au.
Figure 1 belowprovides an outline of the expanded Tres Amigos target area includingrock chip sample values. It also identifies the Tres Amigos and SinCodicia mine locations and the location of the holes drilled by SanLorenzo during the 2016 and 2018 programs. It also provides thegrades obtained from mineralized intercepts in those drillprograms.
|
Hole # |
From(m) |
To(m) |
Width(m) |
Cu% |
Au g/t |
|
|
SAL-01-18 |
59 |
109 |
60 |
0.47 |
0.17 |
|
|
Including |
75 |
107 |
33 |
1.07 |
0.37 |
|
|
SAL-02-18 |
15 |
40 |
25 |
1.04 |
0.25 |
|
|
Including |
30 |
38 |
8 |
1.58 |
0.47 |
|
|
SAL-06-16 |
36 |
70 |
34 |
1.48 |
0.22 |
|
|
Including |
48 |
54 |
6 |
5.71 |
0.1 |
PriorDrilling
With widths of up to 200 meters evident on Tres Amigosfrom historical workings, the two limited drilling programs completedto date have so far confirmed mineralized widths below surface of upto 60 meters in the high-grade copper-gold-silver rich epithermal veinsystem (grades of 0.47 – 5.71 % Cu, 0.17 – 0.25 g/t Au and 3.1 -26.9 g/t Ag were obtained). That drilling, at less than 100 meterdepths, only tested upper oxide material such that the system remainsopen at depth.
Results to date support management’s opinion thatadditional exploration, including drilling along the additional width,strike, and depth of the system has the potential to define amany-million-ton bulk mineable deposit within the Tres Amigostarget.
PriorWorkings
As recently as 2006, mining in the Tres Amigos targetoccurred from a spiral decline from which high grade oxide ore – up to14% Cu – was extracted – from a mine known as the “LaFortuna”.
Reported grades have been supported by mine facesampling conducted by San Lorenzo which showed copper grades of 2.5– 14.75% copper across 1.8 – 4.1 meter widths.
Figure 2: shows the declineentrance on the La Fortuna mine from which up to 14% copper materialwas historically mined.
Click Image To View Full Size
Figure 3 abovehighlights the extent of the existing IP/Resistivity lines (in blue)and the locations of the planned additional lines (in yellow).
Immediate Next Steps – IP
San Lorenzo intends to immediately acquire theadditional IP coverage by completing the (yellow) lines outlinedabove. San Lorenzo is hopeful that the additional coverage willidentify anomalies in the larger northern and northwestern sector ofthe Tres Amigos Target underlying the areas of numerous high Cu-Aurich surface samples. IP will provide deeper penetration that
should highlight zones of copper-rich sulphides beneathnear surface oxides.
Follow-Up Next Steps -Drilling
San Lorenzo expects to commence a drilling program onboth the Tres Amigos and the Cerro Blanco target areas during Q3 2024. While the locations on the Cerro Blanco target have largely beendecided upon, the location of drill holes on the Tres Amigos targetremains dependent on the results of the upcoming IP program.
The SalvadoraProperty Generally
Significant surface soil and rock samples that arehighly anomalous in copper and gold, together with the significantgrades obtained by San Lorenzo from drilling on the Tres Amigos target(and on the nearby Arco de Oro and Caballo Muerto targets) continuesto affirm to management of San Lorenzo the existence of severalhydrothermal systems that have mineralized the Salvadora property. This observation is further supportedby the numerous artisanal workings evident on the Salvadoraproperty.
Figure 4 aboveillustrates the artisanal workings – depicted by mine symbols – thatare evident on the Salvadora property. Each indicates NW-SE trends -the one circled in red being on Tres Amigos target and the one circledin blue being on Arco de Oro target.
The Arco de OroTarget – Further Details to be Provided Within Approximately 2Weeks
The Arco de Oro target is a third high value targetwithin the Salvadora property that San Lorenzo will provide moredetailed information on in the coming weeks. Further exploration atArco de Oro is being delayed until completion of next steps on TresAmigos and Cerro Blanco.
MoreInformation
San Lorenzo Gold encourages readers to obtain moreinformation about the Tres Amigos target by following the link(www.sanlorenzogold.ca/tres-amigos ) or by visiting San Lorenzo’s website at: www.sanlorenzogold.ca
About San LorenzoGold Corp.
San Lorenzo Gold is involved in the exploration andadvancement of mineral properties in the Mega Porphyry Cu-Au and thecoastal IOCG belts of Chile. The Salvadora property is located in theMega Porphyry Cu-Au belt and is being explored for large scalecopper-gold porphyry deposits and high-grade epithermalgold-silver-copper vein type deposits.
The Company has two other properties: Nancagua, a highgrade mesothermal gold-silver prospect and PuntaAlta, a copper-gold-silver-cobalt prospect with related disseminatedand vein style copper-gold-silver-cobalt mineralization in the coastalIOCG belt.
Contact Information:
Gordon Aldcorn, VP Corporate Development
Email: galdcorn@sanlorenzogold.ca
Ph: 403-618-6507
or:
Terence (Terry) Walker, VP Exploration
Email: twalker@goldenrock.cl
Ph: + 56 9 5179 5902
or:
Al Kroontje
Email: al@slgold.ca
Ph: 403-607-4009
Neither the TSX Venture Exchange norits Regulation Services Provider (as defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
Not for distribution to UnitedStates newswire services or for release, publication, distribution ordissemination directly, or indirectly, in whole or in part, in or intothe United States
Cautionary Note RegardingForward-Looking Information
This press release may containforward-looking information that involves substantial known andunknown risks and uncertainties, most of which are beyond the controlof San Lorenzo. All statements included herein other than statementsof historical fact are forward-looking information. Suchforward-looking information involves various risks and uncertainties.There can be no assurance that such information will prove to beaccurate, and actual results and future events could differ materiallyfrom those anticipated. Any forward-looking statements are made as ofthe date of this release and, other than as required by applicablesecurities laws, San Lorenzo does not assume any obligation to updateor revise them to reflect new events or circumstances.
Not for distribution to UnitedStates newswire services or for release, publication, distribution ordissemination directly, or indirectly, in whole or in part, in or intothe United States
Copyright (c) 2024 TheNewswire – All rights reserved.
Credit: Source link