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CALGARY, AB – TheNewswire – November 26, 2024 – San Lorenzo Gold Corp. (“San Lorenzo” or the “Company“) (TSXV: SLG) is pleased to announce that targeting, drill road access and pad construction haven been competed for the maiden drill program on its Cerro Blanco target at Salvadora.
About Cerro Blanco
Cerro Blanco is one of 5 target areas located within San Lorenzo’s Salvadora property. It is highlighted by a strong leached cap and alteration zone exposed in the approximately 250 meters high valley wall formed by river erosion on the northern edge of the target zone. This alteration zone is exposed over a strike length exceeding 2.5 kilometers south of the valley wall. In Chile, the type of surface alteration seen at Cerro Blanco is a common feature within and above similar mineralized intrusions as evidenced locally by the porphyry copper/gold deposits associated with the El Salvador mine 15 km to the NE. A view of the feature can be seen in Figure 1 below.
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Figure 1: View of the Cerro Blanco feature looking South across the river valley floor.
The Cerro Blanco feature has long been a priority target – not yet drilled because of a lack of access – with access having recently been completed.
San Lorenzo’s recent efforts included completion of additional surface rock and soil sampling on Cerro Blanco. A strong 2.5 km sq soil copper anomaly was identified – which is open to the NW, NE and SW. Numerous soil samples graded from 0.05 – 0.1% copper and numerous rock samples graded 0.1 – 1.55% copper and 0.02 – 0.33 g/t gold (Figure 2). An IP survey detected a moderate to strong chargeability anomaly underlying the core of the surface soil and rock copper/gold anomaly which is also open on strike and at depth. During construction, altered mineralized rock was exposed in the road cuts confirming the local nature of the surface alteration. Figure 2 below provides locations of the results discussed above and indicates proposed drilling locations.
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Figure 2: Map of Cerro Blanco feature including: soil and rock sample locations and results; an outline of the copper/gold soil and rock sample anomaly; an outline of the IP anomaly; drill pad locations.
Permits for the maiden drill program are expected imminently. The recent increase in the credit facility from a director and officer (see November 19, 2024 news release) will finance the maiden drill program at Cerro Blanco.
San Lorenzo VP Exploration, Terry Walker commented that “Cerro Blanco is a very large, classic porphyry target. The combination of the large alteration zone with anomalous copper/gold geochemistry and IP chargeability make it a compelling target and we’re very pleased to have competed access work so we can finally drill test it.”
About San Lorenzo
San Lorenzo is focused on advancing its Salvadora property located in Chile’s mega porphyry Cu-Au-Mo belt – just south of one of Chile’s major porphyry deposits and producing mines, El Salvador.
Results obtained from drilling programs conducted on 4 different targets to date have convinced management that several significant gold and copper enriched epithermal and porphyry style copper, gold molybdenum systems underly the Salvadora property.
San Lorenzo looks forward to providing timely updates on its activities at Salvador in the coming weeks.
For further information, please contact:
Roger Blair, Acuity Advisory Corp.
Email: [email protected]
Ph: +1-604-351-0025
or:
Terence (Terry) Walker, VP Exploration
Email: [email protected]
Ph: + 56 9 5179 5902
or:
Al Kroontje
Email: [email protected]
Ph: 403-607-4009
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States
Cautionary Note Regarding Forward-Looking Information
This news 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 in such information. 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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