Video: recent milestones & potential economic development

Our gold investment Los Cerros (ASX:LCL), which is focussed on the emerging global minerals hotspot Colombia, recently announced a maiden resource at its Tesorito prospect. This lifted total resources within the wider Quinchia Project to 2.6Moz gold, along with silver credits.

The company is well funded (over $17M in the bank) and is now progressing a Preliminary Economic Assessment (PEA - similar to an advanced scoping study) for Quinchia, expected in the 2H22. This will outline the economic case for development.

Managing Director Jason Stirbinskis has provided an insightful update to Crux Investors, covering LCL’s recent milestones alongside what is coming up next for LCL.

With LCL already ticking off the #1 objective that we wanted them achieve in 2022 by — delivering the maiden resource estimate at Tesorito, our attention turns to the next objective:

We know that the first hole has been completed, terminating at a depth of 1,205m downhole due to the rig reaching its depth capability, and that a second hole has already commenced (even prior to returning the assays from hole #1, which is typically a good sign). The first assay is expected in April, so readers can expect our commentary once the results are announced.