Quinchia Gold Project

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.

Figure 1
Locality Map: Key Targets – Quinchia Gold Project

Miraflores Breccia Pipe

  • 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
US $1,300
US $1,400
C1 Cash Cost US$ per Au/oz 595 599 603
AISC - cost US$ per Au/oz 639 643 647
EBITDA (LoM Average) US$m/annum 27.3 29.4 35.8
NPV @ 5% US$M 75 96.1 117
NPV @ 8% US$M 55 72.3 89.8
IRR $% 21 25.1 28
Payback Years 4.1 3.6 3.3
First released on 14 March 2017 (Resource) and 27 Nov 2017 (Reserve).LCL confirms in the subsequent public report that all the material assumptions underpinning the Miraflores project, or the forecast financial information derived from the Miraflores project, in the initial public report referred to in rule 5.16 or rule 5.17 (as the case may be) continue to apply and have not materially changed. See Resources and Reserves page for further detail.

Tesorito Gold Porphyry

  • Less than 1km from proposed Miraflores plant location
  • Very wide porphyry intercepts from near surface. 16 drill holes of 200+m grading ~1g/t Au including 320m @ 1.5g/t Au from surface.
  • 50+ diamond holes, targeting MRE calculation H1 2022
  • Inferred Resource of 1.3Moz @ 0.81g/t
View 3D Model

Ceibal Gold Porphyry

  • 1km from Miraflores and Tesorito
  • Same structural controls and similar lithology to Tesorito
  • Extensive gold intercepts from surface including 586m @ 0.51g/t Au from surface in CEDH02
Image 2

Dosquebradas Porphyry

  • ~2km from Miraflores
  • Inferred Resource: 0.46Moz @ 0.71g/t Au
  • Mineralisation from surface. Intercepts include-
    • 511m @ 0.58g/t Au from surface including 200m @ 0.98g/t Au from 122m in QDQ_DH_02


  • Large surface anomalism
  • Two possible porphyry targets overprinted by mineralised epithermal veining
  • Drill intercepts include –
    • 350m @ 0.57g/t Au from surface in CHDDH01 (porphyry associated gold)