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SolGold Plc
Summary
| Project: | Cascabel | |
|---|---|---|
| Deposit: | Alpala | |
| Location: | Ecuador | |
| Commodities: | Copper-Gold | |
| Date: | 6/30/2016 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 30-6-2016: SolGold Plc announces an Exploration/Drilling Update report for its Alpala deposit at the Cascabel project. JV with Cornerstone Capital - drilling results incl. 1338m @ 0.49% Cu, 0.36g/t Au from 394m. The Directors of SolGold advise that assay | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nicholas Mather (Internal) | |
| ABSTRACT: | The Directors of SolGold advise that assay results for Drill Hole 15R2 have now been received. The hole returned intersections of up to 1,338m (averaging 0.81% copper equivalent) from a depth of 394 metres (refer Table 1), further demonstrating the extent and strength of the Alpala porphyry zone at the Cascabel Project in Northern Ecuador. 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 (refer Figure 1, Location, and Figure 2, Regional Setting). SolGold holds an 85% interest in ENSA (Exploraciones Novomining S.A.) which holds the Cascabel tenement. Commenting on the result, Executive Director Mr Nick Mather said; “An intersection of over 1,300m at an average grade of 0.81% copper equivalent is outstanding. The Alpala system is clearly very strong, very rich and very large. We have only tested 20% of the surface footprint of the greater Alpala target area. The Alpala deposit remains open in all directions and the impressive average across all assayed core of 0.37% copper and 0.35g/t gold indicates that it’s a very fertile system. To date a total of 14 porphyry targets have been identified and it is possible that some of the others could be even better than Alpala. Importantly, we have now refined the magnetic model so that it is a very good predictive tool for targeting. All of this plus the outstanding regulatory, capital and operating cost advantages for Cascabel bode very well for this project” | |
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