(TheNewswire)
CALGARY, ALBERTA – TheNewswire- October 17, 2022 – SanLorenzo Gold Corp. (“ SanLorenzo ” or the “ Corporation ”) ( tsxv:slg), ( OT:snlgf ) is pleased provide assay results fromthe Cabello Muerto Zone (“ CMZ Zone ”) that include the results of acopper-gold porphyry discovery hole on its flagship Salvadora propertyin Chile, as follows:
Hole # | Sector | Intercept | From(m) | To (m) | Width (m) | Cu % | Au g/t | Ag g/t | Cu% Eqv | Au g/t Eqv |
SAL-03-22 | CMZ | A | 171.0 | 197.0 | 26.0 | 0.15 | 0.13 | 0.4 | 0.24 | 0.34 |
B | 233.0 | 515.3 | 282.3 | 0.10 | 0.66 | 0.6 | 0.57 | 0.81 | ||
including | 308.0 | 420.0 | 112.0 | 0.14 | 1.44 | 0.8 | 1.17 | 1.67 | ||
356.0 | 392.0 | 36.0 | 0.27 | 3.7 | 1.1 | 2.91 | 4.15 |
The 2022 Phase 3 program was designed to offset Hole 6of the 2018 program that provided indications of the existence of acopper-gold porphyry system. The objective was to explore for ahigher-grade core to the system. San Lorenzo is extremely pleased toannounce that Hole 3 of the 2022 program, a direct north-west offsetto Hole 6 of the 2018 program, did encounter the significantly highergrades and widths in porphyry style alteration and mineralization thatwere hoped for.
Terry Walker, VP Exploration stated “The 2022 CMZZone drill program achieved a major milestone returning a discoveryhole that cut a copper-gold bearing porphyry alteration system on theSalvadora property. We are excited that the mineralization andassociated phyllic-potassic alteration in the principal copper, goldand molybdenum enriched zone of Hole 03-22 matches that of theCopper-gold porphyry deposits found in the Andean Mega Porphyry CopperBelt. The hole encountered mineralization right from surface withsignificant grades being encountered at true vertical depths ofapproximately 85 meters.”
Figure 1 below provides the locations of Hole 6 of the2018 drill program and Hole 3 of the 2022 drill program. The porphyrycopper-gold system discovered in Hole 3 is open both to the north, thenorth-west and west and is also open at depth.
Figure 1
Mr. Walker continued: “This is a major discovery thatsets the stage for delineation drilling. It appears that Hole 03-22(in addition to the copper-gold intercept in Hole 2018-06) have cutthe top of a porphyry deposit similar to that at El Salvador –located 15-20 kilometers to the north-east.” From the period thatthe El Salvador mine commenced production in 1959 up to 2000, over 13billion pounds of copper and over 3.1 million ounces of gold have beenproduced (1) . The El Salvador mine has continuedin production since that time and is forecast to have a recentlyextended mine life to 2067.
1) source: Corporación Nacional del Cobre de Chile –“Codelco”.
Commenting on next steps, Mr. Walker continued: “While there are several more porphyry targetsat Salvadora evident from surface alteration, copper-gold enrichmentin soil and rock samples and IP/Resistivity geophysical anomalies, ourprimary focus must be to drill to the west, north-west and west ofdiscovery Hole 03-22 to determine the size of this system. When wemobilize a rig to delineate the discovery in Hole 03-22, we plan todrill the additional targets as well”.
Figure 2 below highlights the principal alterationzones with associated strong surface copper geochemical andIP/Resistivity anomalies identified to date at Salvadora which formedthe basis for the current and prior drilling programs resulting indiscovery Hole 03-22 at CMZ.
Figure 2
Figure 3 below shows the Salvadora property, CMZlocation and similar structural setting to the El Salvador porphyrydeposit currently being mined to the north-east.
Figure 3
Qualified Person
The scientific and technical information contained inthis news release has been reviewed and approved by Terence Walker,M.Sc., P.Geo., who is a "qualified person" within themeaning of National Instrument 43-101
About San Lorenzo Gold Corp.
San Lorenzo Gold is in the business of exploring forand advancing mineral properties. The Corporation currently hasthree 100% owned properties in Chile: Salvadora, Nancagua and PuntaAlta. The Salvadora property is being explored for large scalecopper-gold porphyry targets and high-grade epithermalgold-silver-copper vein systems. Nancagua is a high grademesothermal gold-silver prospect. Punta Alta is a IOCG prospect withrelated disseminated and vein style copper-gold-silver-cobaltmineralization.
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 .
For further information concerning this press release,please contact:
Gordon Aldcorn
V.P. Corporate Development
Email: galdcorn@sanlorenzogold.ca
Phone: 587-430-0333
Or:
Terry Walker
VP Exploration
Email: twalker@goldenrock.cl
Or:
Al Kroontje
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-Lookng 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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