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SolGold Plc
Summary
| Project: | Cascabel | |
|---|---|---|
| Deposit: | Alpala | |
| Location: | Ecuador | |
| Commodities: | Copper-Gold | |
| Date: | 7/12/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-7-2016: SolGold Plc announces an Exploration/Drilling Update report for its Alpala deposit at the Cascabel project. JV with Cornerstone Capital - drilling results incl. 948m @ 0.54% Cu, 0.53g/t Au from 330m. The Directors of SolGold herewith provide th | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nicholas Mather (Internal) | |
| ABSTRACT: | The Directors of SolGold herewith provide the drill hole CSD-16-017 (“Hole 17”) assay results from the Cascabel Copper Gold Porphyry Project (SolGold 85%) in Northern Ecuador. Drill hole 17 adds another world class intersection to the Cascabel inventory, which holds several positions within the group of world class porphyry copper gold drilling results in the public domain, as indicated in Figure 1. The Cascabel Project is located on the gold rich northern section of the prolific Andean Copper belt renowned as the production base for nearly half of the world’s copper. Assay results have been received and compiled for drill hole 17, indicating a significant upper level high grade zone to the porphyry copper-gold system and confirming a 150m lateral extension to the south west at Alpala. The hole was drilled from the same location as Holes 4, 14 and 16, in a south westerly direction (233 azimuth) at a declination of 74 degrees. The hole was designed to test and confirmed the upper extensions of rich mineralisation encountered in Holes 5 and 12. Molybdenum anomalies in soil samples in the area tested by Hole 17 are considered to indicate the surface expression of the zone encountered (refer Figure 4, Drill Hole Location Plan). Intense visual, porphyry style, copper sulphide mineralisation in Hole 17, including 183m of very intense visible bornite-chalcopyrite copper sulphide mineralisation from 816m to 999m was reported and announced on 16 May 2016 (bornite and chalcopyrite are important copper ore minerals containing around 63% and 35% copper, respectively). The very highest grade mineralisation in this zone has assayed 136m @ 1.28% Cu and 2.20 g/t Au for 3.24% copper equivalent from 846m, at a cut-off grade of 1.5% copper equivalent. | |
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