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SolGold Plc
Summary
| Project: | Cascabel | |
|---|---|---|
| Deposit: | Alpala | |
| Location: | Ecuador | |
| Commodities: | Copper-Gold | |
| Date: | 1/3/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-1-2018: SolGold Plc announces a Resource Estimation report for its Alpala deposit at the Cascabel project. JV with Cornerstone Capital Resources - Initial mineral resource estimate for Alpala at Cascabel. The Board of SolGold (LSE and TSX code: SOLG) is | |
| Resources: | (Resource): 430Mt @ 0.5% Cu, 0.4g/t Au (Ind.) and 650Mt @ 0.4% Cu, 0.3g/t Au (Inf.) At Alpala | |
| CP/QP: | [Resources]: Martin Pittuck (SRK Consulting) | |
| ABSTRACT: | The Board of SolGold (LSE and TSX code: SOLG) is pleased to announce the results of the Alpala Maiden Mineral Resource Estimate (MRE) at the Cascabel Project, the Company’s 85% owned copper-gold porphyry project in Ecuador (refer Further Information below). The MRE has been reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (May 2014). SolGold’s CEO and Managing Director, Mr Nick Mather, commented on the Alpala MRE: “This maiden Mineral Resource Estimate (MRE) is a tremendous start and in our view by no means represents a final size or grade because the deposit is still growing. That the maiden MRE is so big, achieved with so few drill holes and that such a large percentage is in the indicated category is testimony to the size of the system at Alpala. SolGold plans to announce updated MRE statements throughout 2018. We plan to immediately follow this maiden MRE up with initiation of a PEA (Preliminary Economic Assessment) of the deposit at Alpala, towards commencement of the PFS (pre-Feasibility Study) later in 2018. Unlike many producers, this project is unhedged to copper prices going into what we see as a copper bull market for some years to come. Along with Cascabel’s extraordinary logistic and expected capital advantages in a progressive and constructive regulatory and fiscal environment plus the multiplicity of as yet untested targets, this all creates a very exciting outlook for SolGold.” | |
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