Strong Assay Results Sent Shares Of This Junior Miner Soaring Over 150% On The Day

As the PDAC convention unfolds in Toronto, drawing thousands of mining executives and enthusiasts alike, one junior miner is set to generate significant buzz. The company has announced a discovery hole from the first of three recently drilled at its flagship gold-copper property.

Shares of San Lorenzo Gold Corp. (TSX-Venture: SLG) are surging as the company announced assay results from the first of 3 recently drilled holes on its Cerro Blanco gold/copper porphyry target as well as partial results from the first of 3 holes recently drilled on its Arco de Oro epithermal gold target. Cerro Blanco and Arco de Oro are targets located within San Lorenzo’s flagship Salvadora property in Chile.

Highlights of the assay results include 153.5 meters of 1.04 g/t Gold and the company reported 39.6 metres of high-grade Gold in three intervals in the first hole at Arco De Oro.

San Lorenzo’s CEO Al Kroontje commented that “it’s extremely gratifying to be announcing a discovery hole with our first drill test of Cerro Blanco, a target management has had high conviction about.  Cerro Blanco is a very large target and we’re just scratching the surface with the three reconnaissance holes in the current program.  Arco do Oro has, again, generated results that confirm the robustness of this large, high-grade gold system.  Arco has the scale to contain a large resource.  San Lorenzo is fortunate to control a property that has not one or two, but five high quality target areas.  We plan to expand on our exploration efforts to advance this high-quality project.”

Cerro Blanco is a two-by-two kilometer area of coincident copper/gold soil and rock geochemistry, IP chargeability and exposed lithocap that San Lorenzo believes overlays a mineralized porphyry center.  Cerro Blanco has never been drilled before.  Mineralization in hole 01-24 continued to the bottom of the hole, indicating the mineralized system remains open to depth.

San Lorenzo has been advised that assay results from the other two holes recently drilled on the Cerro Blanco porphyry target will be forthcoming during the next approximately 2 weeks.  Holes two and three contain alteration and mineralization similar in appearance to hole one.

News of this type sent investors in a frenzy, bidding up shares of SLG to $0.195, up an impressive 178.57% on the day on very strong volume.

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