San Lorenzo Begins Key Phase of Exploration with Induced Polarization Survey Commencing on It's 100% Owned Large Scale Cu-Au Porphyry Salvadora Project
Calgary, September 8, 2021 - San Lorenzo Gold Corp. ("San Lorenzo" or the "Company") (tsxv - slg) announces that a key phase of exploration has commenced on its 100% owned Salvadora Copper - Gold Project ("Salvadora") located in Chile. The Company is conducting an Induced Polarization ("IP") survey consisting of approximately 86 line kilometres and will follow up on positive results from previous limited IP surveys conducted by the Company. The 100% owned Salvadora Project is 8,796 hectares and is geologically situated in one of the productive copper belts in Chile and is approximately 15 km from the world class El Salvador open pit copper-gold mine (see Figure 2). The IP survey will initially cover the central portion ("CMZ Zone") of the Property which hosts favourable porphyry style mineralization and phyllic to potassic alteration containing disseminated and vein hosted copper mineralization identified by surface sampling and limited diamond drilling (see Figure 1).
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Figure 1 - Salvadora Property - 86 km of new IP lines (purple)
IP is a key survey for identifying porphyry style copper mineralization and results from the IP survey combined with data from the Company's recently completed Magnetometer survey (see News Release dated July 22, 2021) will be used to prioritize diamond drill targets in a large diamond drill programme on what is one of Chile's most prospective large scale copper - gold porphyry systems.
Salvadora Copper - Gold Project Highlights
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- Potential to discover large bulk mineable copper - gold porphyry
- 15 km from world class billion+ tonne El Salvador copper - gold porphyry mine
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- Recently announced US$1.4 billion expansion to increase annual copper production to 200 million pounds
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- Geologically very similar to El Salvador mine including:
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- Style of mineralization;
- Alteration;
- Favourable copper bearing rocks are similar age;
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- Project has not been fully and systematically explored leaving potential untapped;
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- Limited diamond drilling;
- Magnetometer survey recently completed;
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- Drilling in the porphyry style alteration zones has returned encouraging copper - gold grades;
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- 156 metres of 0.28% copper and 0.08 g/t gold
- 35 metres of 0.28% copper and 0.11 g/t gold;
- Additional upside from two extensive epithermal vein systems;
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- Outcrop and underground sampling returned:
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- 5.1 - 154.5 g/t gold, 1.3 - 61.8 g/t silver and 0.16 - 1.75% copper over 1.5-2.1 metres;
- Historically reported small scale, underground production to 240 metres:
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- 4.5 - 195 g/t gold, 20 - 356 g/t silver ,1.4 - 23.6% copper over 0.5 -3.0 metres
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- Located at relatively low elevation and readily accessible year round.
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Figure 2 - Salvadora Project
The Company also announces that John Aihoshi, CFO has been appointed Corporate Secretary.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Terence Walker, M.Sc., P.Geo., who is a "qualified person" within the meaning of National Instrument 43-101.
For further information on the Company, readers are referred to the Company'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 advancing mineral properties. The Company currently has three 100% owned properties in Chile: Salvadora, Nancagua and Punta Alta. The Salvadora property is being explored for large scale copper-gold porphyry targets, Nancagua is a high grade mesothermal gold property and Punta Alta is a copper - gold porphyry property with related disseminated and vein style copper-gold-silver-cobalt mineralization.
For further information, please contact: Ken Booth
Email: kbooth@sanlorenzogold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States
Cautionary Note Regarding Forward-Looking Information
This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of San Lorenzo. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, San Lorenzo does not assume any obligation to update or revise them to reflect new events or circumstances.