San Lorenzo Provides Results from Porphyry Target Drilling – Announces Intercept of 112M of 1.17% Cu Equivalent IN Porphyry Style Alteration
SAN LORENZO PROVIDES RESULTS FROM PORPHYRY TARGET DRILLING –
ANNOUNCES INTERCEPT OF 112M OF 1.17% CU EQUIVALENT IN PORPHYRY
STYLE ALTERATION
CALGARY, ALBERTA, October 17, 2022 – San Lorenzo Gold Corp. (“ San Lorenzo ” or the
“Corporation”) (TSXV – SLG, OTCQB – SNLGF) is pleased provide assay results from the
Cabello Muerto Zone (“CMZ Zone”) that include the results of a copper-gold porphyry discovery
hole on its flagship Salvadora property in Chile, as follows:
Hole
# Sector Intercept From(m) To
(m)
Width
(m) Cu % Au g/t Ag g/t Cu%
Eqv
Au g/t
Eqv
SAL-
03-22 CMZ
A 171.0 197.0 26.0 0.15 0.13 0.4 0.24 0.34
B 233.0 515.3 282.3 0.10 0.66 0.6 0.57 0.81
including 308.0 420.0 112.0 0.14 1.44 0.8 1.17 1.67
356.0 392.0 36.0 0.27 3.7 1.1 2.91 4.15
The 2022 Phase 3 program was designed to offset Hole 6 of the 2018 program that provided
indications of the existence of a copper-gold porphyry system. The objective was to explore for
a higher-grade core to the system. San Lorenzo is extremely pleased to announce that Hole 3
of the 2022 program, a direct north-west offset to Hole 6 of the 2018 program, did encounter the
significantly higher grades and widths in porphyry style alteration and mineralization that were
hoped for.
Terry Walker, 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 principal copper, gold and molybdenum enriched zone of Hole 03-22
matches that of the Copper-gold porphyry deposits found in the Andean Mega Porphyry Copper
Belt. The hole encountered mineralization right from surface with significant grades being
encountered at true vertical depths of approximately 85 meters.”
Figure 1 below provides the locations of Hole 6 of the 2018 drill program and Hole 3 of the 2022
drill program. The porphyry copper-gold system discovered in Hole 3 is open both to the north,
the north-west and west and is also open at depth.
Figure 1
Mr. Walker continued: “This is a major discovery that sets the stage for delineation drilling. It
appears that Hole 03-22 (in addition to the copper-gold intercept in Hole 2018-06) have cut the
top of a porphyry deposit similar to that at El Salvador – located 15-20 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 is forecast to have a
recently extended mine life to 2067.
1) source: Corporación Nacional del Cobre de Chile – “Codelco”.
Commenting on next steps, Mr. Walker continued: “While there are several more porphyry
targets at Salvadora evident from surface alteration, copper-gold enrichment in soil and rock
samples and IP/Resistivity geophysical anomalies, our primary focus must be to drill to the west,
north-west and west of discovery Hole 03-22 to determine the size of this system. When we
mobilize a rig to delineate the discovery in Hole 03-22, we plan to drill the additional targets as
well”.
Figure 2 below highlights the principal alteration zones with associated strong surface copper
geochemical and IP/Resistivity anomalies identified to date at Salvadora which formed the basis
for the current and prior drilling programs resulting in discovery Hole 03-22 at CMZ.
Figure 2
Figure 3 below shows the Salvadora property, CMZ location and similar structural setting to the
El Salvador porphyry deposit currently being mined to the north-east.
Figure 3
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
About San Lorenzo Gold Corp.
San Lorenzo Gold is in the business of exploring for and advancing mineral properties. The
Corporation 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.