+5 million oz. Au potential7 Sep 2021 08:18
The significance of this decision can be resumed by this extract from Turner's pope report back in July:
"Of primary importance for Agnico and Newmont instead is proving potential for a +5 million oz. Au field before investing time and money in drilling
to resource status. In this respect, the Board’s decision to work hard to ensure that the campaign should not be unduly hindered
by the Pandemic most certainly appears to be in shareholders’ best interests, particularly when considering drilling results
reported by Los Cerros Limited (ASX:LCL), whose nearby Quinchia Project in the Mid-Cauca gold belt on 21 January 2021
reported latest drilling from its Tesorito South porphyry target returning its strongest gold intercept ever recorded, including
102m @ 2.11 g/t Au from 28m. This further demonstration of the region’s exceptional prospectivity resulted in Los Cerros’
share price spiking some 50% on the news. Given the resounding verification delivered by its latest drilling, together with the
Board’s expectation that the further assays (that still presently remain subject to COVID-19 related delays) will produce similar
polymetallic gradings and widths, the Anzá Project appears capable of driving strong mining economics