San Lorenzo Conducts Exploration on Second Chilean Copper - Gold Property

05.08.2021  |  The Newswire

Calgary, August 5, 2021 - San Lorenzo Gold Corp. ("San Lorenzo" or the "Company") (TSXV:SLG) announces that a first phase, reconnaissance exploration programme has been completed on its 100% owned 2,000 hectare Punta Alta copper - gold property located in the historic Carrizal Alto copper-gold-cobalt mining camp in central Chile (Figure 2).

The programme followed up on a limited amount of sampling by San Lorenzo personnel from old workings on the Property that returned encouraging results:

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

San Lorenzo's programme consisted of mapping and sampling including rock, soils and stream sediments. This is the first programme conducted by San Lorenzo and will cover the entire Property but it will also focus on the five known vein systems on the Property which have an approximate cumulative strike length of at least three kilometres (Figure 1).

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Figure 1 - Punta Alta Property Geology and Mineralization

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 three kilometres;

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

* 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 2 - Punta Alta Property Location

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 three 100% owned properties in Chile: Salvadora, Nancagua and Punta Alta. The Salvadora property is being explored for large scale copper-gold porphyry targets, Nancagua is a high grade epithermal gold property and Punta Alta is a copper - gold porphyry property with related disseminated and vein style copper-gold-silver-cobalt mineralization.

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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