(TheNewswire)
CALGARY, ALBERTA – TheNewswire- September 8, 2022 –San Lorenzo Gold Corp. (“ SanLorenzo ” or the “ Corporation ”) ( TSXV:SLG), (OTC:SNLGF) is pleased to provide a further update regarding the recentlycompleted diamond drilling program on its flagship Salvadora propertyin Chile.
The 10-hole program involved 4,091meters of diamond drilling. All 10 of the new holes cutcopper-gold-silver +/- molybdenum mineralization.
The 100% owned Salvadora property encompasses 8,796 ha. A significant expansion to the previous Induced Polarity(“ IP ”) program was carried out by San Lorenzo just before therecent drilling program commenced. The IP surveys conducted to dateoutline at least four zones of interest on the Salvadora property. Twoof those zones were the subject of the recent drilling program- the Caballo Muerto Zone and the Arco de OroZone.
The significant mineralization encountered in all the10 holes drilled is very encouraging as it demonstrates to managementof San Lorenzo that IP surveys are a viable tool in identifyingmineralized alteration systems at Salvadora.
Caballo Muerto Zone(“CMZ”)
Seven (7) holes were drilled on the CMZ in the recentdrilling program. Each hole cut visible porphyry style alteration with gold- copper- silver and molybdenum mineralizationcovering an area of 2+ square kilometers and vertical depth of over500m. IP surveys to date over the CMZ indicate that thealteration/mineralization zone is open to the northwest of the recentdrilling area and remains open at depth.
Arco de Oro Zone (“ADO”)
Three (3) holes were drilled on the ADO in the recentdrilling program. Each cut visible mineralization within epithermalvein systems. Including one hole drilled in 2016 and one holedrilled in 2019, a total of 5 holes have now cut a gold-silver-coppermineralized epithermal vein system over a strike length of 1 kilometerand to a vertical depth of over 300m. The system is open to the NW,SE and at depth and can be identified by shallow artisanal mining overa strike length of over 3 kilometers.
The remaining two anomalous areas of interest: the TresAmigos Zone (TAZ) and Caballo Muerto South Zone (CBS) are coincidentwith 2-3 square kilometer strong copper and gold soil anomalies,porphyry style hydrothermal alteration and copper-gold-solvermineralization. Neither were tested in the recently completed nor anyof the prior drilling programs.
Regarding the recently completed drilling program,Terrence Walker, San Lorenzo’s VP of Exploration commented: ‘There are so many reasonsto be pleased about this program. The extensive mineralizationencountered at the CMZ porphyry target indicates that it a very largesystem. Drilling confirmed that IP surveys are helping to targetmineralization. We have now established over a kilometer of strikelength on the ADO with another 3 kilometers of old workings at surfaceand we encountered mineralization down to 300 meters which is still open atdepth. We are excited to receive assay results in the near futureand report them to our shareholders.”
San Lorenzo has been advised that assay results areforthcoming whereafter they will be communicated to shareholders viasubsequent news release(s) anticipated to be within the next fewweeks.
Grant of Options
The Corporation announces the grant of 350,000 options (“ Options ”) pursuant to its existingrolling stock option plan. The Options will be granted to anincoming officer of the Corporation at a price of $0.12 per commonshare and may be exercised for a period of 5 year subject to a vestingprovision whereby the exercise is limited to one third on each of thedate of grant and the following 2 anniversaries thereof.
For further information on the Corporation, readers arereferred to the Corporation’s website at www.sanlorenzogold.com and its Canadian regulatory filings on SEDAR at www.sedar.com .
About San Lorenzo Gold Corp.
San Lorenzo Gold is in the business of exploring for and advancingmineral properties. The Corporation currently has three 100% ownedproperties in Chile: Salvadora, Nancagua and Punta Alta. TheSalvadora property is being explored for large scale copper-goldporphyry targets and high grade epithermal gold-silver-copper veinsystems, Nancagua is a high grade mesothermal gold-silver prospect andPunta Alta is a copper–gold porphyry prospect with relateddisseminated and vein style copper-gold-silver-cobalt mineralization.
For further information, please contact:
Gordon Aldcorn
V.P. Corporate Development
Email: gord@slgold.ca
Phone: 587-430-0333
Or:
Terry Walker
VP Exploration
Email: twalker@goldenrock.cl
Or:
Al Kroontje
Chairman
Email: al@slgold.ca
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.
Not for distribution to UnitedStates newswire services or for release, publication, distribution ordissemination directly, or indirectly, in whole or in part, in or intothe United States
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, including statements pertaining to the drillingprogram, are forward-looking information. Such forward-lookinginformation involves various risks and uncertainties. There can beno assurance that such information will prove to be accurate, andactual results and future events could differ materially from thoseanticipated in such information. Any forward-looking statements aremade as of the date of this release and, other than as required byapplicable securities laws, San Lorenzo does not assume any obligationto update or revise them to reflect new events orcircumstances.
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