San Lorenzo Gold Announces Proposed Private Placement
San Lorenzo seeks $15-million war chest as drilling confirms massive scale of Salvadora porphyry system.
The most recent news (February 19, 2026) announces a non-brokered private placement of units to raise up to $15,000,000. Each unit is priced at $2.51 and consists of one common share and one warrant. The warrants are exercisable at $3.50 for a period of 12 months. This follows the January 26, 2026, announcement of drill results from hole SAL-04-25, which intersected five distinct mineralized sections totaling 222.4 meters. Key intervals included 132.2 meters of 1.09 g/t Au and 54.0 meters of 1.05 g/t Au. These results are interpreted as representing the upper levels of a significant porphyry system at the Salvadora property in Chile.
The $15-million financing is a material positive event and a significant escalation in the company's financial capacity. - Valuation Momentum: The financing price of $2.51 represents a 304% increase over the $0.62 financing price from just one month prior (January 20, 2026), and a staggering increase from the $0.12 levels seen in late 2023. - Capital Infusion: Up to $15 million provides the company with the liquidity to move from "reconnaissance" drilling (1-3 holes) to a full-scale resource definition and exploration program. This removes the "cash-strapped" risk that plagued the company throughout 2024 and 2025. - Technical De-risking: The January 26 drill results confirmed that the "Discovery Hole" (SAL-01-24) was not an isolated hit. The 222.4 meters of mineralization in SAL-04-25 suggests a broad, continuous system. However, the company notes these are "upper levels," meaning the higher-grade copper core of the porphyry has not yet been definitively reached. - Dilution vs. Price: While adding roughly 6 million shares (and 6 million potential warrant shares), the dilution is occurring at the highest prices in the company's history, which is accretive compared to previous sub-$0.20 rounds.
San Lorenzo Gold Corp. is focused on the Salvadora property in Chile, located 15km from the massive El Salvador copper-gold porphyry mine. - Flagship Project: Salvadora (9,069 hectares). - Key Targets: - Cerro Blanco: A porphyry copper-gold target where recent discovery holes were drilled. - Arco de Oro: An 8km epithermal gold trend with historical high-grade production. - Tres Amigos: A copper-rich epithermal system.