Apologies everyone, same problem as gere
LCL - LCL Resources
- Thread starter Joe Blow
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Apologies everyone, same problem as gere
springhill
Make the drill work for YOU
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LOS CALATOS PROJECT UPDATE
● Higher Grade Zones: Drilling confirms the existence of higher-grade zones within a broad mineralised envelope that could provide high grade ore feed in the initial mining years, thereby materially improving the NPV of the project
● Pit Optimisation Studies: The Company’s focus has now shifted to the assessment of pit optimisation scenarios prior to commencing a pre-feasibility study at the end of 2012
● Savings on Drilling Costs: Due to consistent drill results enabling a better understanding of the geology, the Phase 4 drilling program has been trimmed from 100,000m to 61,000m, thereby saving approximately US$12million in the current year
● Drilling Update: A further 17 drill holes have been completed at Los Calatos with all holes delivering intercepts within, or exceeding, expectations. Significant intercepts include 324m at 0.53% Cu and 51 ppm Mo, 956m at 0.48% Cu and 408 ppm Mo and 179m at 0.61% Cu and 79 ppm Mo
● Higher Grade Zones: Drilling confirms the existence of higher-grade zones within a broad mineralised envelope that could provide high grade ore feed in the initial mining years, thereby materially improving the NPV of the project
● Pit Optimisation Studies: The Company’s focus has now shifted to the assessment of pit optimisation scenarios prior to commencing a pre-feasibility study at the end of 2012
● Savings on Drilling Costs: Due to consistent drill results enabling a better understanding of the geology, the Phase 4 drilling program has been trimmed from 100,000m to 61,000m, thereby saving approximately US$12million in the current year
● Drilling Update: A further 17 drill holes have been completed at Los Calatos with all holes delivering intercepts within, or exceeding, expectations. Significant intercepts include 324m at 0.53% Cu and 51 ppm Mo, 956m at 0.48% Cu and 408 ppm Mo and 179m at 0.61% Cu and 79 ppm Mo
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Now while we are all great hindsight traders. This one presented a few opportunities. I hadn't used my volume scan recently. Would have picked this up. Whether I would have taken it I can't say.
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I eyeballed this but left it alone (doh!) because it also trades in the UK (about 1/2 of aus vol).
Thus the large gaps, also making it a tad more unpredictable.
Thus the large gaps, also making it a tad more unpredictable.
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On January 21st, 2020, Metminco Limited (MNC) changed its name and ASX code to Los Cerros Limited (LCL).
Dona Ferentes
A little bit OC⚡DC
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Been getting its drill holes in a row?
Raised cash, extinguished debt.
Raised more cash
Return to exploration field work in the second half of the year.
• Final Chuscal drill results confirms extensive epithermal gold overprinting porphyry gold
• Dosquebradas Resources grows total Quinchia Gold Project Mineral Resources to 1.3Moz
• AngloGold becomes shareholder; LCL secures 100% of the Chuscal prospect, and therefore 100% of entire Quinchia Project
• HK Ausino $2M exploration partnership signed, first purchase order placed for drill rig and peripherals
• Chuscal targeting and 3-D modelling. 3 porphyry targets for 2020 drill program
• Miraflores review reveals potential for more high grade targets white/Grey Breccia
Tesorito: Step out program from previous successful drilling and investigation of NE anomalous region grade ISS veins
• Early Sept: Exceptionally wide gold intercept 230m returned from Los Cerros’ first diamond hole (TS-DH08) at the southern Tesorito anomaly - Colombia
Raised cash, extinguished debt.
Raised more cash
Return to exploration field work in the second half of the year.
• Final Chuscal drill results confirms extensive epithermal gold overprinting porphyry gold
• Dosquebradas Resources grows total Quinchia Gold Project Mineral Resources to 1.3Moz
• AngloGold becomes shareholder; LCL secures 100% of the Chuscal prospect, and therefore 100% of entire Quinchia Project
• HK Ausino $2M exploration partnership signed, first purchase order placed for drill rig and peripherals
• Chuscal targeting and 3-D modelling. 3 porphyry targets for 2020 drill program
• Miraflores review reveals potential for more high grade targets white/Grey Breccia
Tesorito: Step out program from previous successful drilling and investigation of NE anomalous region grade ISS veins
• Early Sept: Exceptionally wide gold intercept 230m returned from Los Cerros’ first diamond hole (TS-DH08) at the southern Tesorito anomaly - Colombia
greggles
I'll be back!
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Looks like it.
Today's impressive drilling results have propelled LCL to a high of 21.5c this morning, not far from its previous high of 23c. Drilling is ongoing at Tesorito South, so there could be more good news to come.
One worth watching for the gold bugs.
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The boys are going to need a long Shovel 
Sean K
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Results from another 2 potential porphyry systems out.
More Tesorito before the end of March.
Interesting.
More Tesorito before the end of March.
Interesting.
Sean K
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Had a look at their presentations today which are loaded up to You Tube with the MD presenting. Worth a look.
I'm thinking that if the next results from Tesorito are anything like 20 Jan and the targets at depth under Chuscal are proved to be porphyry then we could be looking at a pretty large gold field adjacent to Miraflores. Still pretty speccie.
I'm thinking that if the next results from Tesorito are anything like 20 Jan and the targets at depth under Chuscal are proved to be porphyry then we could be looking at a pretty large gold field adjacent to Miraflores. Still pretty speccie.
Sean K
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The one ann that should be coming out this month is the result from hole DH15 at Tesorito which was being drilled back in Jan. If the same strike and grades are discovered anywhere close to hole DH14 then that could cause another spike in the SP at least and perhaps make this look like a longer term asset. I've circled in yellow the area I'm really interested in. If that has similar grades and shows it's open then it could be anything. And if it comes up dry, nothing...
Sean K
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Interesting break up today on a bit of volume.
greggles
I'll be back!
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Could be a good year for LCL if the drill bit keeps unlocking value for them. I imagine being a South American operation the cost of production would probably be lower than in Australia or other Western nations.
Looks like there's a lot of mineralisation near the surface but also a lot at depth. Interesting project. When are they going to have a resource estimate?
Looks like there's a lot of mineralisation near the surface but also a lot at depth. Interesting project. When are they going to have a resource estimate?
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Some interesting potential for LCL! Below from their website - but my question is why aren't they mining already? Run by geologists so maybe only interested in defining and flipping.
The Miraflores Project is the most advanced project in the Company’s portfolio. On 30 October 2017 the Company released the Miraflores Feasibility Study and on 27 November 2017 released a revised Reserve Calculation for the project
In summary, the Feasibility Study considered an underground mining operation generating 4.3Mt of mineralised material at a head grade of 3.3g/t gold over 9.3 years to deliver 421,000ozs recovered gold. Capital costs were estimated at US$72 million and operating costs were estimated at AISC of US$643/oz. At a gold price estimate of US$1,300/oz. over the life of the operation, the Study generated an NPVof US$72 million (at 8% discount rate) and paybackof 3.6 years.
The surface deposit looks very potentially large, (maybe why AGA is involved??) but low grade. About $8 million in the bank with drill rigs turning up results. 250 + meters of 0.8 g/t today.
The Miraflores Project is the most advanced project in the Company’s portfolio. On 30 October 2017 the Company released the Miraflores Feasibility Study and on 27 November 2017 released a revised Reserve Calculation for the project
In summary, the Feasibility Study considered an underground mining operation generating 4.3Mt of mineralised material at a head grade of 3.3g/t gold over 9.3 years to deliver 421,000ozs recovered gold. Capital costs were estimated at US$72 million and operating costs were estimated at AISC of US$643/oz. At a gold price estimate of US$1,300/oz. over the life of the operation, the Study generated an NPVof US$72 million (at 8% discount rate) and paybackof 3.6 years.
The surface deposit looks very potentially large, (maybe why AGA is involved??) but low grade. About $8 million in the bank with drill rigs turning up results. 250 + meters of 0.8 g/t today.
Sean K
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DH15 is not as good as DH14 but confirms the resource envelope is open to the west with generally similar grades with a couple of large high grade areas of au around the 2g/t mark, plus cu. This is pretty high grade for a porphyry deposit in the Andes.
DH16 may have found an additional porphyry zone at depth, assays pending. MD being pretty conservative on what that means, or it means it's not much. Hoping for much.
"Los Cerros Managing Director, Jason Stirbinskis added; “The Company will refrain from offering an interpretation of this interesting and potentially exciting deep intercept of a porphyry suite below and south west of the fault structure until assays have been assimilated. We are pleased with the performance of the Company owned Atlas Copco rig during the course of its first drill hole.”
In regards to the grades, the ann in Jan described DH14 as: "The wide higher grade gold intercepts are comparable to some of the best gold porphyry style intercepts of the entire prolific Mid Cauca Porphyry Belt." Not sure what that exactly means, must look into it.
DH15 pic.
DH16 pic. It's getting pretty deep but if that is another zone around the same as above, just adds value I suppose.
DH16 may have found an additional porphyry zone at depth, assays pending. MD being pretty conservative on what that means, or it means it's not much. Hoping for much.
"Los Cerros Managing Director, Jason Stirbinskis added; “The Company will refrain from offering an interpretation of this interesting and potentially exciting deep intercept of a porphyry suite below and south west of the fault structure until assays have been assimilated. We are pleased with the performance of the Company owned Atlas Copco rig during the course of its first drill hole.”
In regards to the grades, the ann in Jan described DH14 as: "The wide higher grade gold intercepts are comparable to some of the best gold porphyry style intercepts of the entire prolific Mid Cauca Porphyry Belt." Not sure what that exactly means, must look into it.
DH15 pic.
DH16 pic. It's getting pretty deep but if that is another zone around the same as above, just adds value I suppose.
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Sean K
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Not sure Greggles, they've only put 20 holes in it so probably some time. Still in early exploration.
Sean K
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Good question. Perhaps now they've discovered these other deposits they will add these resources to an updated DFS. Not much clarity on that. Or perhaps the question hasn't been asked.
greggles
I'll be back!
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Refreshed Investor Presentation released by LCL today for those interested. It sets out the stay of play for their various projects quite well.
With $7 million in cash and a cash burn of around $1.2 million a quarter (last quarter) they have close to a year and a half until they run out of cash, so they hopefully won't have to raise capital again until 2022. It can be difficult to predict cash burn when exploration ramps up.
With $7 million in cash and a cash burn of around $1.2 million a quarter (last quarter) they have close to a year and a half until they run out of cash, so they hopefully won't have to raise capital again until 2022. It can be difficult to predict cash burn when exploration ramps up.
Sean K
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I wonder how much extra gold is going to come out of Tesorito that can be fed into the planned mill next to Miraflores, which is only a few hundred meters away? It's not clear what North is going to provide if anything, the grades there are so far pretty low. But South is about 200x300x300 ish @ 1-2 g/tn and open. I'm not sure if those extra ounces are factored in to the sp yet.
