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SolGold Plc
Summary
| Project: | Cascabel | |
|---|---|---|
| Deposit: | Alpala | |
| Location: | Ecuador | |
| Commodities: | Copper-Gold | |
| Date: | 4/4/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 4-4-2017: SolGold Plc announces an Exploration/Drilling Update report for its Alpala deposit at the Cascabel project. JV - Drilling results incl. 1344m @ 0.44% Cu, 0.28g/t Au from 268m. The Board of SolGold (AIM code: SOLG) is pleased to provide an update | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nicholas Mather (Internal) | |
| ABSTRACT: | The Board of SolGold (AIM code: SOLG) is pleased to provide an update on Holes 19 to 25 at the Company’s Cascabel copper-gold porphyry project in Ecuador. The Cascabel Project is located on the gold-rich northern section of the prolific Andean Copper belt, renowned as the base for nearly half of the world’s copper production, (Figure 1). The project area hosts mineralisation of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte, in northern Ecuador, approximately three hours drive north of Quito, close to water, power supply and Pacific ports (Figure 2). SolGold holds an 85% interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel tenement. Fifteen individual targets have been defined at Cascabel. SolGold has successfully drill tested three of the fifteen targets, being Alpala Central, Alpala Northwest, and Hematite Hill. Drill testing of a fourth target, at Alpala Southeast is currently under way (Hole 24) (Figure 3). The deposit at Alpala continues to grow with each new drill hole. Current drilling focusses on defining the geometry of the growing Alpala deposit, which is open in virtually all directions. Over 33,000m of drilling has been completed to date, and the arrival of Rigs 4, 5, 6 and 7 over the coming two quarters will see drill testing expanding to Alpala East, Alpala West, Trivinio and Aguinaga by mid-year. The drilling program ramps up towards eight drilling rigs by year end, which will also see drill testing of the Tandayama-America prospect in the northern part of the licence area. | |
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