San Lorenzo Increases Exposure to Copper with Acquisition of Second Chilean Copper Property

08.07.2021  |  The Newswire

Calgary, July 8, 2021 - San Lorenzo Gold Corp. ("San Lorenzo" or the "Company") (TSXV:SLG) announces that it has acquired 100% of a second Chilean copper property further increasing its exposure to copper. The Company acquired the 2,000 hectare Punta Alta property (see Figure 1) from a private Chilean company. Punta Alta is eight kilometres northwest of the historic Carrizal Alto copper-gold-cobalt mining camp and is readily accessible year round from the town of Vallenar via paved and all-weather gravel roads.

A limited programme of reconnaissance sampling by San Lorenzo personnel from old workings on the property returned:

• - 0.32 - 1.33% copper; 3.39 - 16.75 g/t gold and 0.1 - 0.15% cobalt over 1.0 - 1.5 metres

Punta Alta Copper Property Highlights

• - Potential to host several related deposit types,

  • - Porphyry style copper - gold and or,

    - Copper-gold-silver-cobalt - disseminated and semi-massive sulphide vein deposits;

  - Same regional geological and structural setting as the historic Carrizal Alto and Cobaltera mining camps that operated for over 100 years;

  - Occurs within the southern Copiapó - Ovalle sector of the Chilean Coastal Iron Oxide Copper Gold (IOCG)/Cretaceous Porphyry Copper-Gold Metallogenic Belt

  - Copiapó - Ovalle sector is host to several prominent deposits*:

  • - Candelaria - IOCG, open pit, multi billion pound copper and gold mine

    - Andacollo - porphyry, open pit mine, 5.6 billion pounds copper and 8.2 million ounces gold

    - Carrizal Alto - IOGC, 562 million pounds copper, 1.8 million ounces gold and 46 million pounds of cobalt;

  - Five known vein systems on the Property;

  • - cumulative strike length (approximate) indicated by old surface workings of at least four kilometres;

• - 100% owned, no NSR or third party committments.

The Company is in the process of compiling all historic data and is developing a surface exploration programme to explore Punta Alta.

* Readers are cautioned that mineral deposits and production results are historical in nature and are not indicative of mineral deposits on the Company's property or any potential exploitation thereof.

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Figure 1 - Punta Alta Property

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Terence Walker, M.Sc., P.Geo., who is a "qualified person" within the meaning of National Instrument 43-101.

For further information on the Company, readers are referred to the Company's website at www.sanlorenzogold.com and its Canadian regulatory filings on SEDAR at www.sedar.com.

About San Lorenzo Gold Corp.

San Lorenzo Gold is in the business of exploring for and advancing mineral properties. The Company currently has two 100% owned properties in Chile: Salvadora and Nancagua. The Salvadora property is being explored for large scale copper-gold porphyry targets and Nancagua is a high grade epithermal gold property.

For further information, please contact:
Ken Booth

Email: kbooth@sanlorenzogold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States

Cautionary Note Regarding Forward-Looking Information

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of San Lorenzo. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, San Lorenzo does not assume any obligation to update or revise them to reflect new events or circumstances.

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