I'm expecting an announcement this week (tomorrow?) providing an...

I'm expecting an announcement this week (tomorrow?) providing an update on current activities.

As stated from the company and reiterated in posts just above mine.

"The Company expects to announce assay results for holes TS-DH12 and TS-DH13, testing the northern anomaly, in January"

"TS-DH14, currently testing for depth and western extensions (Figure 1 and 2), is the first of a systematic program of holes expected to lead into a maiden JORC resource estimate for the Tesorito southern porphyry"

We may well see results for hole 14 as well.

However what particularly interests me is the results for hole 9 at Chuscal.
And I'll explain why,

"The Company’s recent drilling program at Chuscal has provided strong vectoring guidance for targeted porphyry drilling. Assay results for the last hole completed at Chuscal (CHDDH009) are expected to be available in January. Drilling has now commenced on the eastern porphyry target which is interpreted to lie under historical workings and strong surface anomalism, under very extensive downhole widths of mineralised magmatic breccia encountered in CHDDH001 and CHDDH002 and below magmatic breccia in CHDDH006 which contained clasts of potentially porphyry associated stockwork (Figure 3 and 4). "

The company has changed their commentary and direction on Chuscal in their Dec 7 announcement.

"Completed Chuscal short hole program intersects more high grade (38.1g/t) epithermal gold. Program transitioned to target porphyry sources
▪ Drill data vectors confirm three porphyry targets. Latest hole hits early diorite with potassic alteration (part of target porphyry suite) for the first time at Chuscal"

"CHDDH008 was designed to test the Corporacion vein corridor but was extended 100m beyond planned depth as it demonstrated indications, within the monzonite country rock, of being proximal to a causative source. The hole ended in elevated gold with 20m @ 0.35g/t Au, anomalous copper, molybdenum and tungsten and the presence of secondary biotite+magnetite and A-type veinlets – all positive signs of proximity to a causative intrusive."

"2. CHDDH0091 was originally designed to test the Corporacion vein corridor 200m west of CHDDH008 but was intentionally extended in response to the evolving vectoring program suggesting a potential target at depth. The possibility of a porphyry target was further supported when the hole intersected ~19m of early diorite from 333m, believed to be part of the target porphyry suite, with potassic alteration and A-type veining. This is the first occasion that a likely member of the target porphyry suite has been intercepted at Chuscal.
The early diorite was followed by 38m of magmatic breccia which comprised a dioritic matrix containing clasts or fragments of early altered diorite transported from its source. Both the matrix and early diorite
clasts exhibit classic porphyry style alteration and veining (Figure 1 and Photo 1), including moderate potassic alteration overprinted by chlorite-sericite alteration.

3. CHDDH009 was extended further given these encouraging signatures and, at 530 meters down hole, encountered encouraging alteration features with increasing sulfide content and increasing occurrence of veining styles and textures attributable to a near-by causative intrusive such as a porphyry (Photo 2). At the time of finalising this ASX release, CHDDH009 was at 575m depth with continuation of the above characteristics.

4. CHDDH0033 , drilled near to CHDDH009 in the previous drilling program, ended in 10.1m @ 1g/t Au with elevated copper and other pathfinders in strongly altered sericitic diorite adding further encouragement for a porphyry occurrence in this immediate area.

5. CHDDH005, although shallow, reported anomalous molybdenum at bottom of hole, considered to be attributable to a nearby porphyry.

6. Conversely, CHDDH006 showed characteristics suggesting the direction of the drilling was away from porphyry sources. The first 58m was elevated in gold (58m @ 0.61g/t Au from surface), molybdenum and sulphur, with decreasing grades at depth, indicating it was heading away from the porphyry target zone. In addition, the drill pad of CHDDH006 was excavated into magmatic breccia that contained clasts of altered stockwork, often occurring above and near an intrusive body (Photo 3).

Thanks to whomever posted this link on porphyries which for those that haven't should watch.



Also worth watching is this,



If you do then what I have highlighted in bold above has far more meaningful significance.

I'll summarise part of it though.

Porhyries can be quite small in diameter 500-2000m.
Alpala in the first video only had 80m outcropping at surface yet has some of the best intersections in the world circa 1500m at 0.6% copper and 0.54% gold
They can extend down to 4 klm below surface.
Molybdenum is a classic indicator and typically a halo around a porphyry.
Nearly 100% of all molybdenum comes from porphyry sources.

Hole 9 was last reported to be at 575m and still drilling with increasing sulphide content and veining styles with molybdenum in the surrounding rock from other drill holes
We know they have found A style veinlets so if they announce anything with B style veinlets and further sulphidation along with bornite, chalcopyrite moly etc then it's game on for LCL

This hole 9 could really be a game changer and if it isn't it'll certainly point us one step closer in the right direction to chasing the elephants that porphyries can be.

2021 could be a great year I feel for LCL

Cheers and good luck!