Los Cerros Limited update the market on recent exploration activity at the 100% owned Quinchia Gold Project, in Risaralda ­ Colombia. Quinchia is a cluster of porphyry and epithermal gold targets within a 3km radius, underpinned by an established Resource of 2.6Moz @ 1g/t Au. Drillhole TS-DH57 is the first hole drilled into the geophysical anomalies between Tesorito and the Miraflores breccia pipe ­ the Central Target.

Gold grades from drill assays received were generally low with localised higher values around small-scale structures and breccia zones. The Miraflores breccia pipe hosts the Miraflores 0.877Moz Resource (which includes a 0.457Moz Miraflores Reserve). A breccia pipe, also referred to as a chimney, is composed of broken fragments of rock transported from a deeper source, cemented together by a fine-grained matrix.

The source of the Miraflores breccia pipe and the expanded hydrothermal system logged in TS-DH57, has not been intercepted by previous drilling. Hole TS-DH57 drilled through barren basalt country rock before transitioning to a 455m interval from 750m of increased Intermediate Sulphidation System (ISS) veining, hydrothermal alteration and breccia zones, ending in breccia at 1,205m at end of hole (EOH). Carbonate Base Metal veins (CBM) were logged from ~900m to ~950m, including one sighting of visible gold at 928.9m corresponding to a 0.4m interval grading 2.2g/t Au.

From ~988m to EOH basalts and various breccias are cut by multiple generations of quartz-carbonate veining, with disseminated pyrite plus sphalerite-galena-chalcopyrite in veins (CBM) and within the breccia matrix. The breccias in this zone, including the largest package (42m @ 0.10g/t Au from 1,116m), resemble the mineralised breccia units that define the Miraflores gold ore body hosted by the Miraflores breccia pipe. The 217m interval from 988m to 1,205m (EOH), is lateral to (not vertically under) the Miraflores breccia pipe and is interpreted as part of a complex multi-pulse hydrothermal system which includes the Miraflores breccia pipe.

The hole was terminated at drill rig capability limits without exiting the hydrothermal system. The interpreted vertical depth extensions of the Miraflores breccia pipe, 500m directly below historical drilling, remain untested. The geophysical conductivity high anomaly tested by TS-DH57 is potentially attributable to the Miraflores type breccias and the above-mentioned lateral vein system hosting the Ginguro structures and related argillic alteration.

High chargeability is potentially attributable to the presence of multiple epithermal veining systems. Based on core logs, the very significant intercept of an extension of Miraflores type breccias 500m below, but lateral to the deepest historic drilling, might be the cause of the underlying magnetic susceptibility high in the region.