(TheNewswire)
CALGARY, AB – TheNewswire - April 16, 2024 - SanLorenzo Gold Corp. (TSXV:SLG) (“ San Lorenzo ” or“ the Company ”) is pleased to provide stakeholders a summary of its“Arc of Gold” target. The target is located within its flagshipSalvadora Property in the mega-porphyry belt of northern Chile.
Summary
San Lorenzo’s “Arco de Oro” – or “Arc ofGold” target is a “hidden gem” located within the boundaries ofSan Lorenzo’s 86.6 sq km Chilean Salvadora property.
The “Arc of Gold”, as San Lorenzo’s managementrefers to it, runs from the mid-southern edge of the Salvadoraproperty boundary to the upper the north-west property boundary – adistance of approximately 8 km.
Historically, abundant shallow surface “artisanal”mining has occurred on the Arco de Oro trend as well as deeper miningfrom adits at the historical Santa Cecilia mine located in thenorthwest quadrant of the trend. The Santa Cecilia mine is reportedto have produced significant amounts of high-grade gold. Numerousshallow surface artisanal workings are evident all along the trend –in the upper “oxidized layer” of the system. Those workings serveto delineate the curved feature of the Arc very well and, of course,guided San Lorenzo’s exploration efforts that consist of sampling,IP, and drilling.
Due to budget constraints, San Lorenzo has only drilleda small part of the Arco de Oro trend to date. Those efforts werefocused generally in the middle of the trend - in the general areawhere the Feliz Retiro trenches are located. Surface and mine trenchsampling conducted by San Lorenzo returned significant gold grades.Those grades and the type of associated alteration motivated a limitedIP program and the drilling of 5 holes in total.
Every one of the 5 holes encountered mineralizationwith very significant grades of gold together with copper and silver. Importantly, the last hole drilled, which was a step-out to thenorth-west, targeted the vein system at a significantly deeper depththan the first 4 holes. That last hole intercepted the system at avertical depth of 290 meters confirming that the veins evident atsurface continue to a significant depth – at least in the area ofthat hole. The hole encountered disseminated and semi-massivesulphides. It cut 22.5 meters of mineralization that would beconsidered significant in that gold grades averaged 4.74 g/t over 22.5meters. However, within that interval, grades of 16.27 g/t gold over6.5 meters were obtained and within that was a high-grade core zonethat cut 58.18 g/t gold over 1.5 meters. Interestingly, the disseminated to semi-massive pyrite and chalcopyrite wereentered at a depth 160 metres in an area where San Lorenzo’s IPshows an interesting conductivity anomaly.
San Lorenzo is pleased with the results of that holethat confirmed the significant depth potential of the system.
General Discussion
The Arco de Oro Target is a belt of multiple veinsystems that trend in a curved SE to NW orientation. This belt is characterised by multiple epithermal veins thatare evident at surface. Surface artisanal workings have beenextensively sampled at surface and within shallow artisanal trenches.That sampling, combined with drilling conducted by San Lorenzo, hasconfirmed a strike length of over 2 km so far. The curved trendfeatures the Santa Cecilia mine in the NW quadrant of the trend. Overall, within the San Lorenzo’s Salvadora property boundarylimits, the Arco de Oro trend has artisanal mining evident at surfacefor over 5 km.
The trend features many individual vein systems thatare several to tens of metres wide within a belt that is up to 500meters wide in areas. Drilling has established high-grade core zoneswithin individual systems. Those grades, when combined withmineralization encountered in wall rock, may provide overall gradesthat make the system bulk mineable. San Lorenzo notes that its limiteddrilling has not established that to be the case as of yet.
The most recently drilled hole on Arco de Oro – SAL04-22 - was designed to test the system at depth. San Lorenzo waspleased that that hole cut semi-massive sulphides and returnedintercepts with excellent grades. Results confirmed that in thatarea, the vein system extends to a depth of at least 290 meters. This was a significant achievement for San Lorenzo as it providedyet more evidence to management that Arco de Oro hosts a mineralizedsystem over a long strike length that extends to depth which presentsa combination of scale and grade that may allow San Lorenzo to build asignificant high-grade gold resource - with copper and silver includedthat will contribute to the economics of mining in the future.
Prior Sampling
Surface soil geochemical sampling has returned stronglyanomalous gold values over the majority the Arco de Oro trend.
Surface rock chip samples taken from old workings andoutcrops along the vein systems range from 8.2 g/t Au and 15.5 g/t Agover 0.9 meters all the way up to 154.5 g/t Au and 18.2 g/t Ag over1.3 meters – again, at surface.
Figure 1 (below) is a map of the Arco de Oro target area. Included are rockchip sample locations (green) and assay values therefrom. Evident onthe map are the locations of the Feliz Retiro, Arco Primero, MariaTeresa and Santa Cecilia mines. The only deep mine of those 4 is theSanta Cecilia mine. Also shown are the locations of the 5 holesdrilled by San Lorenzo to date (during the 2016 (yellow), 2018 (blue)and 2022 (red) programs).
Prior Mining
Until as recently as 2014, mining on the Arco de Orotrend occurred from an adit at the Santa Cecilia mine from which theowners reported production of high-grade oxide ore containing up to 20g/t of gold. The location of the Santa Cecilia mine is depicted onFigures 1, 2 and 4. It is located on trend 900 metres to thenorthwest of the last hole – SAL 04-22 -drilled by San Lorenzo. Management of San Lorenzo considers it veryreasonable that continued drilling on trend for 900 meters toward theSanta Cecilia mine – at both shallow and deeper depths on lands 100%owned by San Lorenzo - may yield a substantial increase in theestablished strike length of the mineralised system. Continuingonward past the Santa Cecilia mine in a northwesterly direction, thetrend continues for approximately 3 more kilometers until reaching SanLorenzo’s property boundary - again with artisanal mining evidentalong the trend. Management is of the opinion that San Lorenzo hasthe potential to define a substantial resource at Arco de Oro byvirtue of the long strike length and having now confirmed that in atleast one area, the vein system extends down to at least 290 meters. Management is also of the view that continued drilling to thesoutheast of hole SAL 04-16 – the southeastern most hole drilled bySan Lorenzo to date and where long sections of surface artisanalmining are evident - is also warranted in that it has the potential tosignificantly extend strike length in that direction as well - by asmuch as 2 additional kilometers until the property boundary isreached. It is intended that drilling, when conducted, will targetthe vein system in the shallower oxidized area and at depth as well– with at least one hole targeting the system at depths deeper than290 meters.
Prior Drilling
The three drilling programs carried out to dateinvolved just 5 holes. Three of the holes were over 400 of strike inthe Feliz Retiro vein system and cut high grade gold-copper-silvermineralization grading 4.55 g/t Au over 7 meters to 11.69 g/t Au over3 meters at vertical depths from 50 to 75 metres. A fourth holefocused on the parallel Arco Primero vein system and retuned anintercept of 9.95 g/t Au over 2 meters. Included in that 2 meterinterval were significant copper grades of 0.47% and silver grades of12.7 g/t. The fifth hole, which was the most recent hole, was a stepout on the Feliz Retiro system to the north-west which targeted thevein system at a much deeper depth. The objective was to determine towhat depth the vein system evident extended down to. That SAL 04-22hole cut semi-massive sulphides at a depth of 290 metres from surfaceafter having encountered disseminated to semi-massive pyrite andchalcopyrite beginning at 160 metres of vertical depth. The locationof each hole referred to above can be viewed on Figure 1 with theassociated grades presented in Table 1. The mineralizationencountered in hole SAL 04-22 coincides with the conductivity anomalyidentified by San Lorenzo’s IP.
Regarding grades, it is management’s view that thegrades encountered on the Arco de Oro trend would be generallyregarded to be very economical to mine and San Lorenzo may be able toreport a large-scale resource on the Arco de Oro with moreconfirmatory drilling needed to meet NI 43-101 disclosurerequirements.
Table1 (below)highlights the mineralized intercepts from the 5 holes drilled to dateby San Lorenzo on Arco de Oro.
Hole # | Vein System | From(m) | To(m) | Width(m) | Au g/t | Ag g/t | Cu % | |
SAL-04-22 | 329 | 351.5 | 22.5 | 4.74 | 3.6 | 0.18 | ||
Feliz Retiro | including | 333 | 339.5 | 6.5 | 16.27 | 9.9 | 0.39 | |
including | 335.5 | 337 | 1.5 | 58.18 | 15.7 | 0.38 | ||
SAL-07-22 | Feliz Retiro | 100 | 114.7 | 14.7 | 2.52 | 3.5 | 0.08 | |
including | 100 | 103 | 3 | 11.69 | 11.6 | 0.24 | ||
SAL-09-22 | Primero | 97 | 99 | 2 | 9.95 | 12.9 | 0.47 | |
SAL-04-18 | Feliz Retiro | 70 | 82 | 12 | 2.74 | 2.9 | 0.27 | |
including | 71 | 75 | 4 | 6.48 | 6.0 | 0.57 | ||
SAL-04-16 | Feliz Retiro | 109 | 116 | 7 | 4.55 | 9.2 | 0.26 |
Prior Geophysics
San Lorenzo has completed limited IP over the Arco deOro system. That survey, completed over thesoutheastern 60% of the Arco de Oro trend, identified a moderate tostrong underlying chargeability anomaly (see Figure 2 below) from 150mdepth which is open at depth and to the northwest. The sulphide zoneintersected in hole SAL 04-22 coincides well with the chargeabilityanomaly.
Figure 2 (above) depicts the IP lines completed by San Lorenzo over the Arco deOro trend and outlines the IP chargeability anomaly area identified byIP (shaded in pink).
Figure 3 (above) illustrates the trend of artisanal workings evident at surfaceon Arco de Oro looking north-west.
The 1 hole completed in the 2016 program (yellow) andthe 1 hole completed in the 2018 program (blue) and the 3 holescompleted in the 2022 program (red) which are evident at the top ofthe image depict the location of the only holes drilled by San Lorenzoto date and demonstrate that San Lorenzo has only conducted drillingon a small portion of the trend evident at surface from historicalartisanal workings.
Figure 4 aboveillustrates the location of the extensive artisanal workings (purplelines) that are evident on the Arco de Oro trend.
MoreInformation
San Lorenzo Gold Corp. encourages readers to obtainmore information about the Arco de Oro target by clicking on thefollowing link https://sanlorenzogold.ca/arco-de-oro or by visiting San Lorenzo’s website at: www.sanlorenzogold.ca
About San LorenzoGold Corp.
San Lorenzo Gold Corp. is involved in the explorationand advancement of mineral properties in the Mega Porphyry Cu-Au andthe Costal IOCG belts of Chile. The Salvadora property is located inthe Mega Porphyry Cu-Au belt and is being explored for large scalecopper-gold porphyry deposits and high-grade epithermalgold-silver-copper vein type deposits.
The Company has two other properties: Nancagua, a highgrade mesothermal gold-silver prospect and Punta Alta, a copper-gold-silver-cobalt prospect with related disseminatedand vein style copper-gold-silver-cobalt mineralization in the CoastalIOCG Belt.
Contact Information:
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
or:
Al Kroontje
Email: al@slgold.ca
Ph: 403-607-4009
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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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