San Lorenzo Gold Corp (OTCMKTS:SNLGF) Stock In Focus After Recent News

Shares of San Lorenzo Gold Corp (OTCMKTS:SNLGF) have been trading within narrow range over the past few weeks.

Market Reaction

On Friday, SNLGF stock ended flat at $0.1250 with more than 300 shares, compared to its average volume of 40shares. The stock has moved within a range of $0.1250 – 0.1250 after opening trade at $0.1250.

Recent News

Company engaged in the business of exploring and advancing mineral properties, San Lorenzo Gold Corp (OTCMKTS:SNLGF)  on December 7, 2021, announced receiving official acceptance from the Chilean National Geology and Mining Service of the planned diamond-drilling program.

This will be based on the firm’s large-scale Copper-Gold Porphyry Salvadora Project, which is located in Chile, about 15 km from the world-class El Salvador copper-gold mine.

The company is also planning to drill about 4,000 meters commencing in the early part of 2022 harnessing 2 existing drill platforms as well as 10 new platforms from the previous diamond drilling programs.

Focus of the upcoming drill would be on the CMZ zone, about eight square kilometers of intense alteration with high copper in soils as well as robust Induced Polarization chargeability anomaly.

Drilling in 2018 resulted in encouraging grades of 156 meters of 0.28% copper and 0.08 g/t gold and 35 metres of 0.28% copper and 0.11 g/t gold.

Currently, San Lorenzo has three 100% owned properties in Chile: Nancagua ,Salvadora, and Punta Alta. The Salvadora property is being explored for large-scale copper-gold porphyry targets as well as high-grade gold-silver-copper vein systems. On the other hand, Nancagua is a high-grade mesothermal gold-silver property. Lastly, Punta Alta is copper-gold porphyry property with copper-gold-silver-cobalt mineralization.

 

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