Our Initial Entry
5 Day VWAP
Our Current Returns
Apr 30 2020
Our Current Returns
Los Cerros Limited (ASX: LCL) is a gold/copper explorer with a dominant position within the Andes and Quinchia regions of the Mid-Cauca Gold Belt of Colombia.
The Quinchia Gold Project 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.
Within 3km of Miraflores is the Tesorito near surface porphyry and the Chuscal porphyry target. There are several other targets within the region including the Dosquebradas deposit which has an Inferred Resource of 459,000 ounces grading 0.71g/t Au5.
Across the ~100,000ha portfolio of applications and granted titles, projects range from multiple early stage exploration, through to advanced projects including feasibility.
Los Cerros Andes Gold Portfolio consists of a 90% interest in ~85,000ha of tenements also within the Mid-Cauca belt and including three granted titles.
Only ~10% of the expansive portfolio has been systemically explored but already delivered 12 vein type gold/silver targets and multiple gold/copper porphyry targets.
Major shareholders include AngloGold Ashanti (NYSE: AU), Sandfire Resources (ASX:SFR), and highly accomplished geologist Dr Minlu Fu.
LCL has released some impressive results from its Tesorito South porphyry target, part of the Quinchia Project in Colombia.
Five drill holes have delivered five outstanding results, all delivering data that increases confidence regarding Tesorito South’s potential.
Promising assay results have been received for drillhole TS-DH15:
- 215 metres grading 0.86 g/t gold from 110 metres, including 34 metres at 2 g/t gold and 0.1% copper from 214 metres.
The company-owned diamond drill rig completed a 690 metre hole at TS-DH16, passing through the target porphyry suite before entering another porphyry zone from 576 metres, making it the deepest hole ever drilled at Tesorito.
Gold was visible in this intercept, extending the zone by 90 metres to the north-west. The gold that was visible is shown below, and it occurred at a depth of approximately 132 metres.
LCL extended its ‘high grade gold envelope’ to the west, which remains ‘open’ - this means that LCL has not found a precise end to the gold system, which means it could continue to get bigger.
With cash at bank of $7.9 million, 2021 is slated to be Los Cerros’ biggest year of exploration.
- Multi-rig drilling program at Tesorito
- Drill program to lead into a maiden JORC Resource calculation
- work on the gold-copper porphyry targets identified at Chuscal
- testing for extensions to the existing Miraflores Resource (877,000 ounces).
Drilling will be supplemented by other exploration programs including mapping, soil/rock chip geochemistry and geophysics, designed to rapidly advance the extensive Los Cerros exploration portfolio.
LCL also expects to finalise submissions for project development approvals at Miraflores later in the year.
Why we have invested...
- 2020 was a re-defining year with merger restructure complete
- numerous legacy issues resolved
- re-brand and launch of Los Cerros and articulation of exploration strategy across 3 very exciting targets
- new, company owned rig to underline cost reduction and drilling potential
- $7M cash means funded for three drill rigs operating continuously across multiple sites within the Quinchia project – Tesorito, Chuscal and Miraflores.
- potentially maiden JORC Resource for Tesorito porphyry later in 2021 adding to the established JORC Resource at Dosquebradas and JORC Reserve at Miraflores – all within 3km radius.
- multiple additional early stage targets in the Los Cerros pipeline will also see progress in 2021.
Our Past Commentary on Los Cerros Limited
|Type||Date||Share Price $||Title|
|27-Apr-2021||$ 0.185||Our Portfolio Performance from January 1st to March 31st 2020|
|07-Apr-2021||$ 0.170||LCL’s Gold Porphyry Discovery Keeps Getting Bigger|
|18-Mar-2021||$ 0.155||LCL’s Gold System Keeps Getting Bigger|
|Article||21-Jan-2021||$ 0.185||LCL’s “truly spectacular” gold intercepts pave the way for share price upgrade|
|21-Jan-2021||$ 0.185||Is LCL Discovering Another Monster Colombian Gold Deposit?|
|Article||07-Jan-2021||$ 0.130||Our Stock Picks for 2021|
|Article||10-Sep-2020||$ 0.092||Is LCL One Step Closer to the Next Multi-Million Oz. Colombian Gold Deposit?|
|Article||03-Aug-2020||$ 0.061||Drilling Imminent as Rig Arrives at LCL’s Quinchia Gold Project|
|Article||30-Apr-2020||$ 0.034||Gold Junior Los Cerros Welcomes Mining Major to the Register|
|Article||26-Nov-2019||$ 0.115||MNC (LCL) Strike 350m Gold Intercept from Surface – The Start of a Regional Gold Play?|
|Article||06-Nov-2019||$ 0.080||Metminco Now Drilling Amongst Multi-Million Oz Gold Discoveries|
Our Portfolio Performance from January 1st to March 31st 2020
Apr 27, 2021
Next Investors have put together a "report card" on how our portfolio companies performed in the last calendar quarter
LCL’s Gold System Keeps Getting Bigger
Mar 18, 2021
Our Stock Picks for 2021
Jan 7, 2021