(TheNewswire)
CALGARY, AB - TheNewswire - January 30, 2024 - San Lorenzo Gold Corp. (TSXV:SLG) (“ San Lorenzo ” or“ the Company ”) is pleased to provide an update on the explorationactivities carried out during November and December 2023.
Background
Exploration efforts conducted prior to the Q3 2024Phase 4 drilling program at Salvadora resulted in the identificationof 6 high priority target areas.
The Phase 4 drilling program involved 4 holes totaling1414 meters of drilling on one of those - the Caballo Muerto porphyrytarget. Phase 4 drilling followed up Hole SAL 22-03 whichencountered significant mineralization including 112 meters grading1.44 g/t gold with 0.8 g/t silver and 0.14% copper.
Assay results from the Phase 4 program confirmed fieldreports of significant mineralization in each of the 4 holes –returning significant gold, copper and silver grades (see San LorenzoPress Release dated October 4, 2023).
Following receipt of those assays, management engagedin a rigorous review of the high priority target areas at Salvadora. The review was necessitated by management having reached theconclusion that the Company is exploring a large porphyry target witha limited budget – resulting in other high priority target areashaving been put “on hold” after the results from Hole SAL 22-03were received. Several other targets at Salvadora have reportedsignificant results. The Q4 program was designed to rank the targetareas for 2024 follow up, in addition to the main Caballo Muertotarget area.
Summary of November and DecemberExploration Activities
During the period, San Lorenzo completed thefollowing:
a. 38 road cut and traverse line rock and regolithsamples were collected on the western extension of the Caballo Muertotarget area.
b. 50 soil samples were collected on the Caballo MuertoSouth target area.
c. A review of the Tres Amigos target area wasconducted which included an expansion to include the trend uponwhich the historical Sin Codicia mine is located.
d. The Cerro Blanco target area was accessed todetermine optimal future drilling access. Also, a campaign including57 surface soil samples was completed with a view to increasinggeo-chem coverage over the southern sector of the target area tocomplement a previously completed IP/Resistivity survey.
Assay results from the sampling campaigns have recentlybeen received by San Lorenzo. Management isincorporating those results into its exploration models with a view toestablishing the most effective go-forward explorationstrategy.
In summary, San Lorenzo Q4 exploration program wasdesigned to ensure maximum impact from upcoming exploration efforts byprioritizing targets based on an updated target ranking.
Figure 1 below details the targetareas identified at Salvadora.
For a more detailed image, pleasevisit www.sanlorenzogold.com/projects
It is San Lorenzo’s intention to provide the resultsof its activities on a target-by-target basis going forward. Moreinformation on each target area incorporating results from recentfieldwork including plans for follow up work will be reported on atarget-by-target basis in the next few weeks.
San Lorenzo Gold encourages readers to obtain moredetailed information on its website at: www.sanlorenzogold.ca
About San Lorenzo Gold Corp.
San Lorenzo Gold is involved in the exploration andadvancement of mineral properties. The Company currently has three100% owned properties in Chile: Salvadora, Nancagua and Punta Alta.
The Salvadora property is being explored for largescale copper-gold porphyry targets and high-grade epithermalgold-silver-copper vein systems.
Nancagua is a high grade mesothermal gold-silverprospect and Punta Alta is an IOCG prospect withrelated disseminated and vein style copper-gold-silver-cobaltmineralization.
For further information, pleasecontact:
Gordon Aldcorn, VP Corporate Development
Email: galdcorn@sanlorenzogold.ca
Ph: 403-618-6507
or:
Terence (Terry) Walker, VP Exploration
Email: twalker@goldenrock.cl
Ph: + 56 9 5179 5902
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
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Cautionary Note RegardingForward-Looking Information
This press release may containforward-looking information that involves substantial known andunknown risks and uncertainties, most of which are beyond the controlof San Lorenzo. All statements included herein other than statementsof historical fact are forward-looking information. Suchforward-looking information involves various risks and uncertainties.There can be no assurance that such information will prove to beaccurate, and actual results and future events could differ materiallyfrom those anticipated. Any forward-looking statements are made as ofthe date of this release and, other than as required by applicablesecurities laws, San Lorenzo does not assume any obligation to updateor revise them to reflect new events or circumstances.
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