Spot on LT, as always.

In the meantime something to pass the time.

https://www.**************.com/lcls-truly-spectacular-gold-intercepts-pave-the-way-for-share-price-upgrade/?utm_medium=email&utm_campaign=LCL-UA7&utm_content=LCL-UA7+CID_73ae8e6b3218c5b81b5096802213e5d8&utm_source=SD&utm_term=FIND%20OUT%20MORE

LCL’s “truly spectacular” gold intercepts pave the way for share price upgrade

WRITTEN BY: Jonathan Jackson

PUBLISHED: 21-01-2021

Emerging gold-copper play Los Cerros (ASX:LCL) has embarked on its largest year of exploration drilling to date, with a view to uncovering the true size potential of its Tesorito and Chuscal porphyry prospects at its Quinchia Project in Colombia.

Strong news from these prospects over the last few days could prove LCL to be one of the best junior gold stocks on the market this year, with the company up 54% in morning trading under all-time record volumes.

Of course, the release of promising results this week is just the start of things to come for 2021, so this is definitely a good time to put this stock on your radar.

We are long-term holders of Los Cerros, a stock we believe could deliver 1000%+ gains in the coming years, given the ground it sits on. We certainly see continued upside from here.

If you are yet to catch the train on LCL, Quinchia is located in the Mid Cauca Porphyry Belt in Colombia, which hosts a number of large multi-million ounce gold discoveries.

This region is otherwise referred to as “elephant country”, with large gold and copper deposits discovered such as La Colosa “the big one” in Spanish, the largest to date with over 28 million ounces.

Titribi at 10.6 Moz, Marmota at 14.4 Moz and Nuevo Chaquiro’s 30 Moz AuEq (gold plus copper) have also made names for the companies behind these projects.

The company is cashed up with $7M in the bank that will fund its biggest year of drilling yet: three drill rigs will operate continuously across multiple sites within the Quinchia project – Tesorito, Chuscal and Miraflores.

A maiden JORC Resource for Tesorito porphyry later in 2021 could also be on the cards.

Los Cerros has already had considerable success at Tesorito, both in terms of drill results and understanding the geometry of the near surface, southern Tesorito gold/copper porphyry.

A maiden JORC Resource at Tesorito would add to the established JORC Resource at Dosquebradas and JORC Reserve at Miraflores – all within 3km radius.

Tesorito was in the news today and it was news that had an immediate impact.

Here are the highlights:

1. The result suggests that the higher-grade zone has expanded vertically, extending to within 2m of the surface and at depth. This bodes well for driving strong mining economics in the early years of a potential development of Tesorito South given higher grades at surface.
2. The grade of +2.0 g/t Au over an interval of more than 100m is a significant uplift in grade compared to previous results, which significantly raises the potential grade of the higher grade zone itself.
3. The intersections of 102m @ 2.11g/t Au and 30m@ 2.47g/t Au are the highest porphyry style grades recorded at Tesorito to date.
4. The intercepted zone of elevated copper 60m@ 1.75g/t Au and 0.12% Cu from 250m is interpreted to be related to the deeper elevated copper zone encountered in TS-DH02 (35m @ 0.19% Cu from 365.5m) raising the possibility of further copper mineralisation at depth.
5. The wide higher grade gold intercepts are comparable to some of the best gold porphyry style intercepts of the entire prolific Mid Cauca Porphyry belt.

With more news to come, we expect this is just the start for LCL’s 2021 rise.

The news that moved the share price

LCL’s latest hole at the Tesorito South porphyry target (TS-DH14) has returned the strongest porphyry gold intercept ever recorded by Los Cerros.

Wide higher grade gold intercepts are comparable to some of the best gold porphyry style intercepts of the entire prolific Mid-Cauca Porphyry belt that, as stated, hosts several multi-million ounce gold and gold-copper deposits.

Gold mineralisation remains open to the west and at depth below 300 metres.

Hole TS-DH14 dramatically increases grade and expands the Tesorito South higher-grade envelope closer to surface and at depth as shown on the following map.

Highest grades at Tesorito to date

The presence of relatively high grades at surface bodes well for driving strong mining economics in the early years of a potential development of Tesorito South.

Highlights include:

Drill hole TS-DH14 intercepted 320m @ 1.5g/t Au starting from 2m including:

• 102m @ 2.11g/t Au from 28m, and
• 30m @ 2.47g/t Au and 0.12% Cu from 262m within 60m @1.75g/t Au and 0.12% Cu from 250m.

Intersections of 102 metres at 2.1 g/t gold and 30 metres at 2.5 g/t gold are the highest porphyry style grades recorded at Tesorito to date.

Furthermore, grades in excess of 2.0 g/t gold over an interval of more than 100 metres is a significant uplift compared to previous results and could raise the potential grade of the higher grade zone itself.

The area has potential to be developed as a gold-copper mine and the intercepted zone of elevated copper that featured 60 metres at 1.8 g/t gold and 0.12% copper from 250 metres is significant.

Today’s results are the extension of past successes

These developments build on previous impressive drill results at Tesorito South as highlighted below.

Los Cerros managing director Jason Stirbinskis believes results to date lay the foundation for further drilling, saying the Tesorito South prospect continues to shine.

TS-DH14 has exceeded the company’s expectations in terms of grade and width to deliver the highest porphyry style gold grades at Tesorito to date.

For the company and investors alike, this is a great start to infill drilling of the southern porphyry.

What’s next

Holes TS-DH15 and TS-DH16 are currently being drilled at the Tesorito South porphyry.

TS-DH15 will test for western extensions of the higher grade zone (shown as dark blue on the drill traces below) and also test the dip of the mineralisation in relation to the adjacent Marmato Fault and associated basalts.

TS-DH16 will further define the high grade zone and test for southern depth extensions.

Results will come shortly.

Los Cerros also completed two holes (TS-DH12 and TS-DH13) that were designed to further explore the recently discovered Tesorito North porphyry target.

You can read more about those in the following Finfeed article:

LCL’s immediate focus will be Tesorito South, where follow up drilling will take place.

As such there are several catalysts on the horizon from Tesorito.

However, drilling has resumed at Chuscal hole CHDDH010, which began prior to the Christmas break.

Complete laboratory assay turnaround time at Chuscal is currently at 6-8 weeks.

The midas touch

LCL’s results so far in 2021, bode well for a good year ahead.

This work also comes at a time when copper is hovering in the vicinity of eight year highs, with the momentum set to continue.

The gold price has received robust support around the US$1850 per ounce mark.

In fact, the forecast for gold looks good.

Several analysts are predicting a stellar year for the precious metal.

Steve Forbes says “gold will shine again”.

LCL has ramped up operations at the right time and with plenty of catalysts to come, should ride the macro wave.

We remain bullish about LCL’s prospects in 2021 and will continue to hold as the company moves quickly through its drilling programmes.

Los Cerros Limited
ASX:LCL