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The latest update is out from Los Cerros ( (AU:LCL) ).
LCL Resources has reported high-grade gold and silver rock chip and trench results from the Kusi Southwest prospect at its Ono project in Papua New Guinea, confirming mineralisation in the Lower Limestone unit south of the Ono River. Rock chips returned assays up to 94.4g/t gold and 1,885g/t silver, while trench sampling delivered intervals including 20 metres at 2.1g/t gold and 3.1g/t silver and 2.7 metres at 115.7g/t silver with high lead and zinc grades.
The work demonstrates that the Lower Limestone unit, located about 200 metres beneath the Upper Limestone that hosts more than 800,000 ounces of gold at Kusi, extends into an area that had not been previously sampled. Management says the discovery of mineralised outcrops and very high silver grades opens a significant new exploration corridor at Ono, enhances the project’s precious and base metal prospectivity, and provides new targets linked to magnetic anomalies at depth.
The most recent analyst rating on (AU:LCL) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Los Cerros stock, see the AU:LCL Stock Forecast page.
More about Los Cerros
LCL Resources is an Australian-listed mineral exploration company focused on gold and base metals projects in Papua New Guinea. Its portfolio includes the Ono project, which hosts the Kusi Gold Resource, and the Liamu project, which contains the Dada porphyry prospect, positioning the company in a region known for significant precious and base metal endowment.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.39M
See more data about LCL stock on TipRanks’ Stock Analysis page.