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Tweet 1 - Starting a thread on one undervalued gold explorer I really like $LCL - holding up well after 1 tranche placement. $14 mil mcap and $3.5 mil cash at hand. Funds will be used to advance the Quinchia Project . Whats special about Quinchia?
Tweet 2: The project comprises of 3 targets - Tesorito, Chuscal and Miraflores . Drilling program will commence at the Tesorito porphyry where only 300m of 2km strike drill tested and historical results include 253 mts and 384 mts intercepts at 1.01 g/t.
Tweet 2: the second target - Miraflores includes a JORC Resource of 877,000 ounces gold and reserves of 457,000 ounces gold. There is potential to double this resource easily. DFS estimates cost at $72 mil only.
tweet 3: Miraflores DFS estimates below but gold is ripping with current price at $1850 the project looks even more compelling.
Tweet 4: Anglogold Ashanti has taken a 4.3 % stake in LCL with option to increase holding to 10%. They have been operating in the region with 55 million ounces of gold found in their tenements.
Tweet 5: Modern exploration at Miraflores commenced with 10 diamond holes drilled by AngloGold Ashanti and B2 Gold in 2006-2007, followed in 2010 by TSX-V listed explorer Seafield Resources. Their results below
Tweet 6: project 3 - Chuscal. further exploration underway to build on exisiting data.
Tweet 7 - upcoming catalysts - Drilling underway with partnership signed with HK Ausino owned by Dr Minlu Fu who backed the goldie TIE recently. Minlu Fu has taken a 10% stake in $LCL. LCL- HK Ausino have signed a $2M Strategic Partnership for IP survey and drilling services.
Tweet 8- In addition $LCL have also purchased their own drill rig to speed up exploration on top of deal with Ausino.
