San Lorenzo GOLD Exploration Update High Priority Target 2 at Salvadora – Tres Amigos
SAN LORENZO GOLD EXPLORATION UPDATE
HIGH PRIORITY TARGET 2 AT SALVADORA – TRES AMIGOS
CALGARY, AB / March 19, 2024 / San Lorenzo Gold Corp. (TSXV: SLG) (“San Lorenzo” or
“the Company”) is pleased to provide additional information on the Tres Amigos target located
on its flagship Salvadora Property.
San Lorenzo has identified six individual targets on Salvadora. Two of them – Tres Amigos and
Cerro Blanco – are the highest priority targets for additional exploration efforts to commence
immediately. San Lorenzo’s most recent press release (Feb 26, 2024) pertained to the Cerro
Blanco target. This press release pertains to the Tres Amigos target.
San Lorenzo believes that incremental spending on the aforementioned two targets has the
greatest potential to impact near-term valuation.
The Tres Amigos Target
The Tres Amigos Target area is characterised by multiple epithermal vein systems close to
surface. The known vein system extends for 2.5 km with widths up to 200 meters – as evident
from numerous surface artisanal workings and high-grade Cu-Au rich outcrops at surface. Since
2015, San Lorenzo has completed initial phases of exploration on the system including surface
soil and rock sampling, limited IP and shallow depth confirmatory drilling. Management believes
that Tres Amigos hosts a mineralized system that has a combination of scale and grade
that may allow San Lorenzo to build a significant high-grade copper/gold resource.
Surface and Mine Face Sampling
Surface soil geochemical sampling has shown that the whole Tres Amigos target area exhibits
strong anomalous copper values - greater than 300 ppm within which two 1 – 1.5 sq km areas
average 0.2 - 0.28% Cu in soils. Mineralized outcrop and float samples from the two sectors
returned values of 0.3 – 5.6% Cu and anomalous gold values from 0.174 – 4.14 g/t Au.
Figure 1 below provides an outline of the expanded Tres Amigos target area including rock chip
sample values. It also identifies the Tres Amigos and Sin Codicia mine locations and the
location of the holes drilled by San Lorenzo during the 2016 and 2018 programs. It also
provides the grades obtained from mineralized intercepts in those drill programs.
Hole # From(m) To(m) Width(m) Cu% Au g/t
SAL-01-18 59 109 60 0.47 0.17
Including 75 107 33 1.07 0.37
SAL-02-18 15 40 25 1.04 0.25
including 30 38 8 1.58 0.47
SAL-06-16 36 70 34 1.48 0.22
including 48 54 6 5.71 0.1
Prior Drilling
With widths of up to 200 meters evident on Tres Amigos from historical workings, the two limited
drilling programs completed to date have so far confirmed mineralized widths below surface of
up to 60 meters in the high-grade copper-gold-silver rich epithermal vein system (grades of 0.47
– 5.71 % Cu, 0.17 – 0.25 g/t Au and 3.1 - 26.9 g/t Ag were obtained). That drilling, at less than
100 meter depths, only tested upper oxide material such that the system remains open at depth.
Results to date support management’s opinion that additional exploration, including drilling
along the additional width, strike, and depth of the system has the potential to define a many-
million-ton bulk mineable deposit within the Tres Amigos target.
Prior Workings
As recently as 2006, mining in the Tres Amigos target occurred from a spiral decline from which
high grade oxide ore - up to 14% Cu - was extracted – from a mine known as the “La Fortuna”.
Reported grades have been supported by mine face sampling conducted by San Lorenzo which
showed copper grades of 2.5 – 14.75% copper across 1.8 – 4.1 meter widths.
Figure 2: shows the decline entrance on the La
Fortuna mine from which up to 14% copper material
was historically mined.
Figure 3 above highlights the extent of the existing IP/Resistivity lines (in blue) and the
locations of the planned additional lines (in yellow).
Immediate Next Steps - IP
San Lorenzo intends to immediately acquire the additional IP coverage by completing the
(yellow) lines outlined above. San Lorenzo is hopeful that the additional coverage will identify
anomalies in the larger northern and northwestern sector of the Tres Amigos Target underlying
the areas of numerous high Cu-Au rich surface samples. IP will provide deeper penetration that
should highlight zones of copper-rich sulphides beneath near surface oxides.
Follow-Up Next Steps - Drilling
San Lorenzo expects to commence a drilling program on both the Tres Amigos and the Cerro
Blanco target areas during Q3 2024. While the locations on the Cerro Blanco target have
largely been decided upon, the location of drill holes on the Tres Amigos target remains
dependent on the results of the upcoming IP program.
The Salvadora Property Generally
Significant surface soil and rock samples that are highly anomalous in copper and gold, together
with the significant grades obtained by San Lorenzo from drilling on the Tres Amigos target (and
on the nearby Arco de Oro and Caballo Muerto targets) continues to affirm to management of
San Lorenzo the existence of several hydrothermal systems that have mineralized the
Salvadora property. This observation is further supported by the numerous artisanal workings
evident on the Salvadora property.
Figure 4 above illustrates the artisanal workings – depicted by mine symbols - that are evident
on the Salvadora property. Each indicates NW-SE trends - the one circled in red being on Tres
Amigos target and the one circled in blue being on Arco de Oro target.
The Arco de Oro Target – Further Details to be Provided Within Approximately 2 Weeks
The Arco de Oro target is a third high value target within the Salvadora property that San
Lorenzo will provide more detailed information on in the coming weeks. Further exploration at
Arco de Oro is being delayed until completion of next steps on Tres Amigos and Cerro Blanco.
More Information
San Lorenzo Gold encourages readers to obtain more information about the Tres Amigos target
by following the link (www.sanlorenzogold.ca/tres-amigos ) or by visiting San Lorenzo’s website
at: www.sanlorenzogold.ca
About San Lorenzo Gold Corp.
San Lorenzo Gold is involved in the exploration and advancement of mineral properties in the
Mega Porphyry Cu-Au and the coastal IOCG belts of Chile. The Salvadora property is located in
the Mega Porphyry Cu-Au belt and is being explored for large scale copper-gold porphyry
deposits and high-grade epithermal gold-silver-copper vein type deposits.
The Company has two other properties: Nancagua, a high grade mesothermal gold-silver
prospect and Punta Alta, a copper-gold-silver-cobalt prospect with related disseminated and
vein style copper-gold-silver-cobalt mineralization in the coastal IOCG belt.
Contact Information:
Gordon Aldcorn, VP Corporate Development
Email: [email protected]
Ph: 403-618-6507
or:
Terence (Terry) Walker, VP Exploration
Email: [email protected]
Ph: + 56 9 5179 5902
or:
Al Kroontje
Email: [email protected]
Ph: 403-607-4009
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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. 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. 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.