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Fathom target at Chuscal, page-2

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BaltasarG

3,768 Posts.

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20/09/20

10:21

Post #: 47480569
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Originally posted by CuMan: ↑

I was thinking on where LCL could come up with more fantastic drill hits.

- Obviously more drilling at Tesorito South / North can deliver the goods during September to November
- Miraflores will give us some nice high grade hits which will please many retail punters and grow the NPV of this asset

However, I do think there is a potential game changer at Chuscal... Why?

The footprint of mineralisation here is massive compared to Tesorito, just have a look at the plan view maps.

Have a look at the press release dated 15 May 2020 - "Independent Chuscal geochemical 3-D modelling identifies a significant porphyry target". Dr Steve Garwin aka SolGold did some good work here.

Fathom target is a big one as its 1km wide by ~600m high (outer shell).

What I find really interesting is the following comment in the press release "Logged sericite and potassic alteration near the end of LCL drill holes support proximity to a porphyry. For example, the last 8m of hole CHDDH003, to the west of the Fathom target contained gold mineralisation and strong sericitic alteration consistent with being within the outer shell of the Fathom target."

The results from the last 8m of CHDDH003.... "8.1 m @ 1.2g/t Au from 294m to end of hole" (see press release 23 Dec 2019).

I think a well aimed 800m to 1,000m hole drilled right through the heart of the Fathom target could yield a drill result that blows Tesorito out of the water by a very wide margin.... If the size and grade stacks up, we could have a nice (big) underground mine at Chuscal for the Fathom porphyry.

If I were LCL, I would be drilling this Fathom hole asap. And they now have the cash to do it! (A hole like this will probably cost $300k to $400k including assays I reckon).

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Hi Cu,
I believe this is where the company owned rig will be targeting for the reasons you've outlined.

The depth profile fits the rig specs/capacity and it'll be a lot cheaper as it's the Ausino rig (think Tietto style drilling costs/m).

This was the case before the last raising.
Rig still due to arrive in October which is not far away now.

All the stars lining up in line with the LCL strategies.

LCL Price at posting: 17.0¢ Sentiment: Buy Disclosure: Held
29 Upvote

4 Great analysis

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Fathom target at Chuscal, page-2

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Fathom target at Chuscal, page-2

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