Australia's Los Cerros jumps on gold find in Papua New Guinea

LCL Resources

24/04/2023 04:29

** Shares of Los Cerros Ltd  LCL.AX  jump as much as 13.3%
to A$0.034, on track for best day since March 22
    ** Gold miner says Los Cerros’ first diamond drilling hole
located in the Kusi prospect in Papua New Guinea has returned
gold at the rate of 4.45 gram gold per tonne 
    ** Says Kusi trenching and regional mapping suggests upper
Limestone skarn mineralisation extends well beyond limits being
tested by the 2023 drill program 
    ** Stock hits highest since March 27
    ** More than 5.8 mln shares change hands, four times the
30-day average volume 
    ** Stock down ~48% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))