San Lorenzo Commences Follow up Drilling Program to Delineate the Recent Discovery Hole Drilled ON the Salvadora Porphyry Target
SAN LORENZO COMMENCES FOLLOW UP DRILLING PROGRAM TO DELINEATE THE
RECENT DISCOVERY HOLE DRILLED ON THE SALVADORA PORPHYRY TARGET
CALGARY, ALBERTA, June 15, 2023 – San Lorenzo Gold Corp. (“San Lorenzo” or the “Corporation”) (TSXV
– SLG, OTCQB – SNLGF) is pleased to announce the commencement of the Phase 4 drilling program on
the Caballo Muerto Zone (“CMZ Zone”) on its Salvadora property in Chile.
The Phase 4 program is designed to expand on the discovery hole that was drilled during the 2022 drilling
program. That hole, SAL 03-22, encountered significant porphyry style mineralization returning grades of
1.4 g/t gold over 112 meters. The Phase 4 program is targeted for up to 2000 meters of drilling over up
to 6 holes. The final number of drill holes and their depths will be determined by field evaluation of
mineralization as drilling progresses.
Figure 1 below provides the locations and directions of the intended drill holes. The porphyry copper-
gold system discovered in hole SAL 03-22 is open to the north, the north-west and west and at depth.
Figure 1
Terry Walker, San Lorenzo’s VP Exploration stated: “The 2022 CMZ Zone drill program achieved a major
milestone returning a discovery hole that cut a copper-gold bearing porphyry alteration system on the
Salvadora property. We are excited that the mineralization and associated phyllic-potassic alteration in
the copper, gold and molybdenum enriched zone of hole SAL 03-22 is similar to that of the copper-gold
porphyry deposits found in the Andean Mega Porphyry Copper Belt of Chile. SAL 03-22 encountered
mineralization right from surface with significant grades being encountered at true vertical depths
between approximately 250 to 360 meters from surface. Not only do we intend to test the areal extent
of the significant grades, we also intend to obtain grades at shallower depths where our previous
surface geo-chem suggests that mineralization continues right to surface.”
Mr. Walker continued: “Hole 03-22 was a discovery hole that set the stage for the delineation drilling
program about to be undertaken. We are excited to obtain information from drilling to the west and
north-west of the discovery hole to determine the size of this system.”
Key Results of hole SAL 03-22 are reflected below:
Hole
# Sector Intercept From(m) To
(m)
Width
(m) Cu % Au g/t Ag g/t
SAL-
03-22 CMZ
A 171.0 197.0 26.0 0.15 0.13 0.4
B 233.0 515.3 282.3 0.10 0.66 0.6
including 308.0 420.0 112.0 0.14 1.44 0.8
356.0 392.0 36.0 0.27 3.7 1.1
Management of San Lorenzo believes that both holes SAL 03-22 and SAL 06-18 intercepted a porphyry
deposit similar in nature to that of the El Salvador deposit – located 15 kilometers to the north-east.
From the period that the El Salvador mine commenced production in 1959 up to 2000, over 13 billion
pounds of copper and over 3.1 million ounces of gold have been produced(1). The El Salvador mine has
continued in production since that time and its operator, Codelco, has recently extended its mine life to
2067.
1) source: Corporación Nacional del Cobre de Chile – “Codelco”.
Drilling is expected to take several weeks with assays being shipped to ALS Laboratories for analysis.
Results will be released as assay results are available.
On next steps, Mr. Walker also commented: “The CMZ zone represents but one of several porphyry
targets at Salvadora evident from surface alteration, copper-gold enrichment in soil and continuous chip
samples augmented by induced polarity surveys carried out by San Lorenzo over the past 3 years that
show significant conductivity/resistivity anomalies.”
Figure 2 below highlights the principal alteration zones with associated strong surface copper
geochemical and IP anomalies identified to date at Salvadora.
Figure 2
About San Lorenzo Gold Corp.
San Lorenzo Gold is in the business of exploring for and advancing mineral properties. San Lorenzo
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 and high-grade epithermal gold-
silver-copper vein systems. Nancagua is a high grade mesothermal gold-silver prospect. Punta Alta is a
IOCG prospect with related disseminated and vein style copper-gold-silver-cobalt mineralization.
For further information on the Corporation, readers are referred to the Corporation’s website at
www.sanlorenzogold.com and its Canadian regulatory filings on SEDAR at www.sedar.com.
For further information concerning this press release, please contact:
Gordon Aldcorn
V.P. Corporate Development
Email: [email protected]
Phone: 587-430-0333
Or:
Terry Walker
VP Exploration
Email: [email protected]
Or:
Al Kroontje
Email: [email protected]
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, including statements pertaining to the drilling
program, are forward-looking information. Such forward-looking 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.