San Lorenzo Gold Corp. announced the commencement of the Phase 4 drilling program on the Caballo Muerto Zone on its Salvadora property in Chile. The Phase 4 program is designed to expand on the discovery hole that was drilled during the 2022 drilling program.

That hole, SAL 03-22, encountered significant porphyry style mineralization returning grades of 1.4 g/t gold over 112 meters. The Phase 4 program is targeted for up to 2000 meters of drilling over up to 6 holes. The final number of drill holes and their depths will be determined by field evaluation of mineralization as drilling progresses.

Management of San Lorenzo believes that both holes SAL 03-22 and SAL 06-18 intercepted a porphyry deposit similar in nature to that of the El Salvador deposit - located 15 kilometers to the north-east. From the period that the El Salvador mine commenced production in 1959 up to 2000, over 13 billion pounds of copper and over 3.1 million ounces of gold have been produced. The El Salvador mine has continued in production since that time and its operator, Codelco, has recently extended its mine life to 2067.