- San Lorenzo Gold stock (TSXV:SLG) added to its recent re-rating after announcing assays for its second and third drillholes at the Cerro Blanco porphyry target on its Salvadora copper and gold property in Chile
- Upcoming exploration seeks to extend mineralization across multiple targets
- San Lorenzo Gold is advancing its flagship Salvadora copper and gold property in Chile
- San Lorenzo Gold stock has added 337.50 per cent over the past month
San Lorenzo Gold stock (TSXV:SLG) added to its recent re-rating after announcing assays for its second and third drillholes at the Cerro Blanco porphyry target on its Salvadora copper and gold property in Chile.
The 2 kilometre by 2 kilometre Cerro Blanco features anomalous copper and gold soil and rock geochemistry, induced polarization (IP) chargeability anomalies and an exposed litho-cap that management interprets to overlay a mineralized porphyry center.
The alteration observed in core from all three drillholes indicates a local gold and copper-enriched porphyry deposit at Cerro Blanco.
According to Monday’s news release, further IP testing will extend coverage to the east, north and south in preparation for another round of drilling, which will also include the untapped Arco de Oro and Tres Amigos areas. The company plans to fund these activities with $1,505,645 in recently exercised share purchase warrants and broker warrants.
The news follows an intercept of 153.5 metres grading 1.04 grams per ton (g/t) gold in drillhole 1 announced in early March.
San Lorenzo expects to share new assays from Arco de Oro within the next week.
Cerro Blanco assay results for drillholes 2 and 3
Assay results for drillhole 2 (SAL 02-24):
| Intercept | From (m) | To (m) | Width (m) | Au g/t | Ag g/t | Cu % | |
| SAL 02-24 | A | 98.8 | 131.1 | 32.3 | 0.29 | 0.3 | 0.03 |
| B | 143.1 | 165.1 | 22.0 | 0.26 | 0.3 | 0.06 | |
| C | 179.0 | 264.7 | 85.7 | 1.02 | 0.3 | 0.06 | |
| including | 179.0 | 246.7 | 67.7 | 1.15 | 0.2 | 0.06 | |
| including | 183.1 | 187.1 | 4.0 | 8.14 | 0.5 | 0.16 | |
| D | 276.7 | 304.7 | 28.0 | 0.18 | 0.2 | 0.02 |
Assays for drillhole 3 (SAL 03-24):
| SAL 03-24 | A | 226.0 | 250.0 | 24.0 | 1.28 | 1.1 | 0.11 |
| B | 277.1 | 346.7 | 69.6 | 0.74 | 0.3 | 0.06 | |
| including | 277.1 | 287.6 | 10.5 | 1.63 | 0.7 | 0.10 | |
| including | 333.3 | 346.7 | 13.4 | 1.08 | 0.2 | 0.11 |
Leadership insights
“This was a wide-spaced reconnaissance program. We are pleased that all three drillholes returned significant grades of gold,” Terence Walker, San Lorenzo Gold’s vice president of exploration, said in a statement. “The locations of drillholes 1, 2 and 3 support the fact that Cerro Blanco is a sizeable feature. Of note is the fact that gold mineralization – including grades up to 1.08 g/t in drillhole 3 – were encountered at the bottom of each hole. Therefore, in addition to the significant aerial extent suggested from the locations of the 3 drillholes, the feature remains open at depth and in virtually all directions.”
“The three holes in the maiden drill test of the Cerro Blanco target area were sited to test varied combinations of IP chargeability and surface geochemistry,” added Al Kroontje, San Lorenzo Gold’s chief executive officer. “All three drillholes, located roughly 500 metres from each other, reported substantial gold intercepts, highlighting Cerro Blanco as a large and well-mineralized system. The target area is large and still open in most directions. We look forward to exploring Cerro Blanco more intensively and expanding the areas of mineralization, given its obvious potential to host a large gold and copper resource.”
About San Lorenzo Gold
San Lorenzo Gold is advancing its flagship Salvadora copper and gold property in Chile. Management believes the property houses several large epithermal and porphyry style systems.
San Lorenzo Gold stock (TSXV:SLG) is up by 2.94 per cent on the news trading at C$0.35 per share as of 11:49 am ET. The stock has added 337.50 per cent over the past month.
Join the discussion: Find out what everybody’s saying about this Chilean gold stock on the San Lorenzo Gold Corp. Bullboard and check out Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: San Lorenzo Gold)
