San Lorenzo Expands Land Position at Salvadora's Cerro Blanco Target
Expanding the Porphyry Footprint in Chile’s Premier Copper-Gold Belt
The most recent news (March 19, 2026) details a significant land expansion at the Salvadora property in Chile. San Lorenzo Gold Corp. (SLG) has entered into a binding Letter of Intent (LOI) with Mirasol Resources Ltd. to option the 2,000-hectare Rubi Project and acquired an additional 900 hectares through delinquent claims. This increases the Cerro Blanco target area by 2,900 hectares. To earn a 70% interest in Rubi, SLG must pay US$1.55M over three years and spend US$650,000 on exploration. They maintain further options to reach 100% ownership for an additional US$4M. This follows the March 5, 2026, closing of a massive $20M private placement.
The impact is Material - Positive. - Strategic Consolidation: The acquisition of the Rubi Project is a logical and aggressive expansion. Previous drilling at Rubi showed 200m intervals of anomalous copper/moly, suggesting it is part of the same large-scale porphyry system SLG is currently drilling at Cerro Blanco. - Validation of Scale: By committing millions in future payments to Mirasol, management is signaling high confidence that the "litho-cap" at Cerro Blanco is the surface expression of a major copper-gold porphyry system. - Financial Strength: The timing is critical; SLG just moved from a "penny stock" environment (trading at $0.12–$0.62 in 2025) to raising $20M at $2.51–$2.64 per unit. This provides the "war chest" necessary to meet the Mirasol expenditure requirements and conduct deep diamond drilling. - Risk Mitigation: While the payments are significant, the deal is structured as an option, allowing SLG to walk away if drilling results do not justify the US$4M total price tag.
San Lorenzo Gold Corp. is focused on the Salvadora Project in Chile, located 15km from the massive El Salvador copper-gold mine. The project features two distinct styles of mineralization: - Arco de Oro: A high-grade epithermal gold vein system (e.g., 11.1m at 3.78g/t Au). - Cerro Blanco: A large-scale porphyry copper-gold target characterized by a massive alteration "litho-cap."