San Lorenzo drills discovery hole at Cerro Blanco, Chile

San Lorenzo Gold Corp. [TSXV: SLG; OTC PINK: SNLGF] reported assay results from the first of three recently drilled holes on its Cerro Blanco gold/copper porphyry target as well as partial results from the first of three holes recently drilled on its Arco de Oro epithermal gold target. Cerro Blanco and Arco de Oro are targets located within San Lorenzo’s flagship Salvadora property in Chile.

Al Kroontje, CEO, commented: “It’s extremely gratifying to be announcing a discovery hole with our first drill test of Cerro Blanco, a target management has had high conviction about. Cerro Blanco is a very large target and we’re just scratching the surface with the three reconnaissance holes in the current program.  Arco do Oro has, again, generated results that confirm the robustness of this large, high-grade gold system.  Arco has the scale to contain a large resource.  San Lorenzo is fortunate to control a property that has not one or two, but five high quality target areas.  We plan to expand on our exploration efforts to advance this high-quality project.”

The mineralized intervals and assay results from Hole SAL 01-24 – the first of the three holes recently drilled on the Cerro Blanco copper/gold porphyry target and returned 153.5 metres of 1.04 g/t gold, 1.0 g/t silver and 0.05% copper, including 92 metres of 1.38 g/t gold, 1.1 g/t silver and 0.06% copper, including 3.8 metres of 12.78 g/t gold, 6.5 g/t silver and 0.51% copper.

Cerro Blanco is a two-by-two km area of coincident copper/gold soil and rock geochemistry, IP chargeability and exposed lithocap that San Lorenzo believes overlays a mineralized porphyry center. Cerro Blanco has never been drilled before.  Mineralization in hole 01-24 continued to the bottom of the hole, indicating the mineralized system remains open to depth.

Commenting on the Cerro Blanco results, Terence Walker, VP of Exploration, explained: “The initial drill program on Cerro Blanco was designed as a widely spaced first pass recon program. It was intended to confirm the company’s opinion that the coincident strong surface copper and gold sample values, the alteration types observed in the local intrusive and volcanic rocks and the underlying IP/Chargeability anomalies are part of a local gold/copper enriched porphyry deposit similar to those at the nearby El Salvador mine complex. These assays results indicate the hole’s position in the outer margin of a porphyry deposit, and we feel extremely fortunate to have received such significant results from the very first hole drilled on this exciting target.”

Terry Walker continued: “The assay results correspond exceedingly well with our IP interpretation which reinforces our belief that IP will continue to be a valuable tool during future drilling.”

San Lorenzo has been advised that assay results from the other two holes recently drilled on the Cerro Blanco porphyry target will be forthcoming during the next approximately two weeks. Holes two and three contain alteration and mineralization similar in appearance to hole one.

Assay results from Hole SAL 01-25 – the first of the three holes recently drilled on the Arco de Oro epithermal multi-vein feature was a 300-metre step-out to the northwest along trend from past drilling at Arco. Assays were 6.6 metres of 5.61 g/t gold with copper pending, including 2.3 metres of 11.14 g/t gold with copper pending and 9.7 metres of 4.4 g/t gold with copper pending, including 1.4 metres of 12.2 g/t gold with copper pending, and 23.3 metres of 4.8 g/t gold with copper pending, including 4.0 metyres of 17.95 g/t gold with copper pending.

Terry Walker provided the following observations regarding Hole SAL 01–25: “The gold assays received from the first of the three holes recently drilled on Arco de Oro confirm our thesis that several epithermal vein systems are converging in a northwesterly direction – as suggested by the strengthening and widening of the IP chargeability anomaly in that direction.  With extensions of high-grade mineralization over significant widths continuing as we head northwest, the need to actively explore the additional 2.5 km of strike to the northwest – evident from shallow artisanal workings – is very much warranted.”

Arco de Oro is a 5 -km trend of epithermal veining indicated by surface exposures and numerous small shallow artisanal workings. Every hole drilled by San Lorenzo at Arco de Oro has reported at least one significant gold intercept, indicating the strength and consistency of this large gold system. High-grade results have been obtained to a depth of 300 metres.

San Lorenzo is only in receipt of the gold assays from Hole SAL 01–25 with copper and other elements expected during the upcoming week.

Management is planning significant follow-up programs at both Cerro Blanco and Arco de Oro with additional drilling also planned for the Tres Amigos copper-rich epithermal system. Further drill results from Arco de Oro and Cerro Blanco will be reported when received and interpreted, and future exploration plans will be announced once all current drill results are received.

Sam Lorenzo is focused on advancing its flagship Salvadora property located in Chile’s mega-porphyry belt. Results obtained from drilling programs already conducted on four different targets have convinced management that several significant gold and copper enriched epithermal and porphyry style systems lie within the boundaries of the Salvadora property.