San Lorenzo has identified six individual targets on Salvadora. Two of them - Tres Amigos and
San Lorenzo believes that incremental spending on the aforementioned two targets has the greatest potential to impact near-term valuation.
The Tres Amigos Target
The Tres Amigos Target area is characterised by multiple epithermal vein systems close to surface. The known vein system extends for 2.5 km with widths up to 200 meters - as evident from numerous surface artisanal workings and high-grade Cu-Au rich outcrops at surface. Since 2015, San Lorenzo has completed initial phases of exploration on the system including surface soil and rock sampling, limited IP and shallow depth confirmatory drilling. Management believes that Tres Amigos hosts a mineralized system that has a combination of scale and grade that may allow San Lorenzo to build a significant high-grade copper/gold resource.
Surface and Mine Face Sampling
Surface soil geochemical sampling has shown that the whole Tres Amigos target area exhibits strong anomalous copper values - greater than 300 ppm within which two 1 - 1.5 sq km areas average 0.2 - 0.28% Cu in soils. Mineralized outcrop and float samples from the two sectors returned values of 0.3 - 5.6% Cu and anomalous gold values from 0.174 - 4.14 g/t Au.
It also identifies the Tres Amigos and Sin Codicia mine locations and the location of the holes drilled by San Lorenzo during the 2016 and 2018 programs. It also provides the grades obtained from mineralized intercepts in those drill programs.
With widths of up to 200 meters evident on Tres Amigos from historical workings, the two limited drilling programs completed to date have so far confirmed mineralized widths below surface of up to 60 meters in the high-grade copper-gold-silver rich epithermal vein system (grades of 0.47 - 5.71 % Cu, 0.17 - 0.25 g/t Au and 3.1 - 26.9 g/t Ag were obtained). That drilling, at less than 100 meter depths, only tested upper oxide material such that the system remains open at depth.
Results to date support management's opinion that additional exploration, including drilling along the additional width, strike, and depth of the system has the potential to define a many-million-ton bulk mineable deposit within the Tres Amigos target.
Prior Workings
As recently as 2006, mining in the Tres Amigos target occurred from a spiral decline from which high grade oxide ore - up to 14% Cu - was extracted - from a mine known as the 'La Fortuna'.
Reported grades have been supported by mine face sampling conducted by San Lorenzo which showed copper grades of 2.5 - 14.75% copper across 1.8 - 4.1 meter widths.
Immediate Next Steps - IP
San Lorenzo intends to immediately acquire the additional IP coverage by completing the (yellow) lines outlined above. San Lorenzo is hopeful that the additional coverage will identify anomalies in the larger northern and northwestern sector of the Tres Amigos Target underlying the areas of numerous high Cu-Au rich surface samples. IP will provide deeper penetration that
should highlight zones of copper-rich sulphides beneath near surface oxides.
Follow-Up Next Steps - Drilling
San Lorenzo expects to commence a drilling program on both the Tres Amigos and the Cerro Blanco target areas during Q3 2024. While the locations on the Cerro Blanco target have largely been decided upon, the location of drill holes on the Tres Amigos target remains dependent on the results of the upcoming IP program.
The Salvadora Property Generally
Significant surface soil and rock samples that are highly anomalous in copper and gold, together with the significant grades obtained by San Lorenzo from drilling on the Tres Amigos target (and on the nearby
About
The Company has two other properties: Nancagua, a high grade mesothermal gold-silver prospect and Punta Alta, a copper-gold-silver-cobalt prospect with related disseminated and vein style copper-gold-silver-cobalt mineralization in the coastal IOCG belt.
Contact:
VP Corporate Development
Tel: 403-618-6507
Email: galdcorn@sanlorenzogold.ca
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Cautionary Note Regarding Forward-Looking Information
This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of San Lorenzo. All statements included herein other than statements of historical fact are forward-looking information. Such forward-looking information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, San Lorenzo does not assume any obligation to update or revise them to reflect new events or circumstances.
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