Quinchia Gold Project, Colombia

LCL Resources Limited (ASX: LCL) has announced a significant milestone for its 100% owned Quinchia Gold Project in Colombia. The company has received the Forest Use Permit for the Miraflores gold deposit, following the earlier receipt of the Environmental Licence. This milestone marks a major step towards the final approval needed for the development of the Miraflores gold deposit...

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Project Summary

Located in central west Colombia, 100km south of Medellin, in the department of Risaralda, and 70km south of the Company’s Andes Gold Project, the 10,500ha Quinchia Gold Project is part of the Mid-Cauca Gold belt which hosts many multi-million ounce discoveries. The Quinchia Gold Project has a JORC compliant Reserve of 0.46Moz within a JORC compliant Resource of 0.84Moz at Miraflores, 1.3Moz at Tesorito and 0.46Moz Inferred Resource at Dosquebradas for a total Quinchia Resource of 2.6Moz. In addition to these gold deposits the 10,500ha Quinchia Gold Project contains significant exploration targets including Chuscal and Ceibal.

  • Connected to underlying porphyry?

  • Broad high grade intercepts including 161m @ 3.23g/t Au from 183m in QM-DH-34

  • Miraflores DFS (2017) underpins core value. DFS demonstrated NPV US$89M at US$1,400/oz gold price with modest CapEx (US$72M).

  • Reserve - 4.32Mt @ 3.29g/t Au for 457koz gold

  • Measured and Indicated Mineral Resources of 9.27Mt @ 2.82g/t Au and 2.77g/t Ag for 840koz gold & 826koz silver (includes Reserve)

  • Environmental Licence for development granted October 2023