Metminco Limited (ASX: MNC), soon to be renamed Los Cerros Limited, is pleased to advise that it has intersected an impressive 350m wide zone of gold mineralisation, from surface, in the first diamond hole ever drilled into the Chuscal Gold Target, located in the Mid-Cauca Porphyry Belt of Colombia, and part of the Company's Quinchia Gold Project.
The Mid-Cauca Porphyry Belt hosts several multi-million ounce porphyry and epithermal ore bodies, some with characteristics similar to those we are observing in early results now being received from the maiden drilling program into the large Chuscal Gold Target, as detailed within this release.
Highlights
First hole of maiden Chuscal drilling program (CHDDH001) ended at 452m depth, delivering significant gold mineralisation.
CHDDH001 passed through an extensive 350-metre-wide mineralised zone from surface carrying an average uncut1 grade of 0.57 g/t gold over this extensive interval.
About Chuscal and the Chuscal Drill Program
The Chuscal Prospect, now being drilled by Metminco, was prioritised for drilling as a result of its expansive 900m by 530m surface gold anomaly (rock-soil and rock chip geochemistry) averaging 1.76 g/t Au (uncut), channel sampling of epithermal veins exposed in the Guayacanes artisanal workings which averaged 8g/t Au including a continuous along strike zone of 83m @ 7.3g/t Au4 , and favourable geology - suggesting potential for Chuscal to be a very significant deposit for the company.
The Chuscal Prospect is located within the Quinchia Gold Project, which is a mineral district hosting a cluster of porphyry stocks, breccias, and epithermal vein occurrences. Specifically, the Chuscal target is situated in close proximity to existing Metminco discoveries: 2kms from Metminco's 100% owned Miraflores deposit where a Mineral Resource of 877,000 ounces at 2.82g/t Au5 and an Ore Reserve 457,000 Au ounces at 3.29 g/t Au5 has been defined, and a DFS completed in October 2017 and 1km from the Tesorito Prospect, where Metminco has previously reported significant wide gold intersection from surface, with a best result of 384m @ 1.01g/t Au from surface to end-of-hole, including 32.5m @ 1.34 g/t Au from 48.8m and 156.6m @ 1.28 g/t Au from 88.3m.
Together, Miraflores, Chuscal and Tesorito may form the cornerstone assets to a multi-mine district, with a central processing facility.
At Chuscal, the near surface, high-grade epithermal vein population overprinting the porphyry mineralisation is of particular interest given the potential to create wide mineralised zones with internal, higher grade zones.
Metminco is earning a 51% interest in the Chuscal Gold Prospect from Anglo Gold Ashanti Colombia SA ('AngloGold'), and otherwise has a 100% interest in the balance of the Quinchia Gold Project. Full details of the joint venture agreement were announced on 6 December 2018.
Technical Discussion of Results
The maiden hole (CHDDH001) of the first drill campaign ever conducted at Chuscal was designed to test the NE flank of the Guyacanes diorite which hosts artisanal underground workings and to test a magnetic low geophysical anomaly flanking this to the north.
The hole reported significant gold values to 350m of the 452m deep hole with mineralisation occurring in monzonite, diorite and breccias (hydrothermal, crackle and magmatic breccias). There is a close correlation of the brecciation zone with a northwest trending magnetic low in the ground magnetic data, suggestive of magnetite destruction associated with a significant phyllic alteration hydrothermal event in this zone.
Contact:
Jason Stirbinskis
Email: jstirbinskis@metminco.com.au
FORWARD LOOKING STATEMENTS
This document contains forward looking statements concerning Metminco. Forwardlooking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Metminco's beliefs, opinions and estimates of Metminco as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forwardlooking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur.
LOS CERROS LIMITED 
