Ann: Miraflores type breccias intersected at depth, page-47

Strong IP anomalies are often false targets. Porphyry systems spit out a lot of disseminated pyrite around their margins and this is usually barren but gives a strong IP response. The pink blob looked too big to me to be anything other than a barren pyrite halo.

The company must have had their suspicions that it could be a false target because neither Tesorito nor Mirraflores lit up like the blob did. However, they chose to spruik the blob narrative anyway. Personally I’d like to see a little more conservatism in the exploration targeting rather than resting hopes on hyped up blobs and 1000m deep targets that are pretty speculative and ultimately undermine confidence when they turn out to be not very interesting.

LCL doesn’t need hype, because it’s got a company making resource at Tesorito already and reserves at Mirraflores to sustain mining for the magic 7+ years that makes a project bankable. It seems like the time has come to refocus on development and wind down exploration before all the cash is burnt. The one thing we can’t afford is to find nothing more then run out of cash.