Lachlan Star (ASX: LSA) is focused on the wholly owned gold producing CMD Mine in Chile. The company also has operations in Australia, including the Bushranger copper and gold project in New South Wales and Princhester magnetite deposit in Queensland.
Gold producing Lachlan Star (ASX: LSA) continues to move forward the CMD Gold Mine in Chile, with the latest gold intersections providing the opportunity for a boost in the gold Reserves and Resources.
The project is made up of a group of deposits, with the new highlights from the Toro Deposit including 13 metres at 5.72 grams per tonne gold (g/t) from 8 metres, and 25 metres at 1.02g/t from 59 metres.
Across at the Tres Perlas Deposit, some very broad intersection highlights include:
- 87 metres at 0.44g/t gold from 29 metres; 86 metres at 0.47g/t gold from 70 metres; and 109 metres at 0.39g/t gold from 62 metres.
Add to the mix some copper results including:
- 35 metres at 0.59% copper, including the high grade 7 metres at 2.02% copper; 27 metres at 0.27% copper from 29 metres; and 13 metres at 0.30% copper from 102 metres.
At the La Laja Deposit, the intersection of 43 metres at 0.64g/t gold from 150 metres was made. This deposit is located to the west of the leach pads and the north of the Chisperos deposit currently being mined.
Lachlan Star's current focus at the project has been in expanding the resources, while also upgrading to higher confidence categories.
The company is already having success in this area, highlighted by the more than fourfold increase in the Toro deposit Indicated Resource to 348,000 gold ounces last week, which also hosts an additional Inferred 135,000 ounces.
Adding some extra spice to Toro, the resource is open in all directions with drilling set to recommence at the deposit post completion of the current program at the Tres Perlas deposit. At Tres Perlas the current drilling is targeting extensions.
One major gold pit with copper potential
Declan Franzmann, managing director, said that drilling continues to demonstrate the potential to expand the mineral resources and reserves at the CMD Gold Mine, and the combination of the Churrumata, Tres Perlas and El Sauce deposits into one major deposit will facilitate mine planning for one large pit on the eastern side of our tenements.
"This pit will contain substantial oxide copper mineralisation at grades similar to that being mined at the adjacent Teck Resources' Carmen de Andacollo mine which indicate the potential to extract value from this material.”
CMD Gold Mine
The CMD Mine currently hosts an Indicated Resource of 37.6 million tonnes at 0.6% for 725,000 gold ounces, along with 49.8 million tonnes at 0.6% for 923,000 gold ounces.