Announcement Date: 2022-03-22
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Los Cerros Ltd.
Project name: Quinchia
Location: Colombia
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Los Cerros Limited (ASX: LCL) (Los Cerros or the Company) is pleased to announce a maiden Mineral Resource Estimate (MRE) for the Tesorito Gold Porphyry (Tesorito), a near surface gold porphyry discovery, which is part of the Company’s 100% owned Quinchia Gold Project (Quinchia), in Risaralda – Colombia (Figure 1). Quinchia is an established project which includes the advanced Miraflores deposit (Reserve status), Tesorito and Dosquebradas deposits (Resource status) and many additional early-stage targets. Importantly, Tesorito is situated less than 1km from the Miraflores gold ore body. The Company sees strong potential for all our gold resources within Quinchia to be developed as a “mining” hub with a central processing facility. Pit optimisations have been performed by independent firm Snowden Optiro as part of the MRE process using a US$1,800/oz gold price and other relevant economic parameters for all pit scenarios, which has identified a 0.25g/t Au
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