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Los Cerros Ltd

  • Location: Colombia
  • Tickers: ASX:LCL
  • Commodities: Gold
  • Project Stages: Development, Exploration

Los Cerros Limited is a gold/copper explorer with a dominant position within the Andes and Quinchia regions of the mid-Cauca Gold Belt of Colombia which hosts many major discoveries. The Company’s Quinchia Gold Project (100%) hosts the Miraflores Gold Deposit with a Resource of 877,000 Au ounces at 2.80g/t Au and Reserve of 457,000 Au ounces at 3.29g/t Au. Miraflores has a completed DFS and is finalizing government approvals to ultimately provide the optionality of modest scale production. Within 3km of Miraflores is the Tesorito near surface gold porphyry and the Chuscal and Ceibal porphyry targets. Tesorito continues to deliver globally significant drill results over an expansive area with more than 14 drill holes delivering ~1g/t Au from surface for ~200+m including 320m @ 1.5g/t from surface and 629m @ 0.88g/t Au from surface. Tesorito mineralisation remains open in most directions and is possibly the end member of a much larger nested porphyry system that also captures the Miraflores deposit.    Other targets within the Quinchia Gold Project include the Dosquebradas deposit which has an ‘at surface’ Inferred Resource of 459,000 ounces grading 0.71g/t Au[1] and many early stage targets all with a 3km radius of Miraflores. The Andes Gold Project (Los Cerros 90%, BHC 10% free carry to FS) is a larger area of early stage exploration in the state of Antioquia ~70km north of Quinchia. The Company has previously completed extensive preliminary surface work at many sites within the expansive footprint including ~14,000 surface samples to identify multiple early stage epithermal gold/silver and porphyry gold +/- copper targets.  On the back of very strong exploration success in 2020/21 as evidenced by 10x increase in share price and market capitalisation, Los Cerros completed a AUD$20M raise in August 2021 which welcomed several of the most respected global precious metal funds, including Franklin Templeton. With 4 rigs drilling continuously, an aggressive greenfield/target generation program and the finalisation of production approval submissions in the 21/22 workplan, Los Cerros anticipates significant progress and frequent positive news flow ahead.