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SolGold Plc
Summary
| Project: | Cascabel | |
|---|---|---|
| Deposit: | Alpala, Aguinaga | |
| Location: | Ecuador | |
| Commodities: | Copper-Gold | |
| Date: | 6/6/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-6-2018: SolGold Plc announces an Exploration/Drilling Update report for its Alpala, Aguinaga deposit at the Cascabel project. JV - Drilling results incl. 756m @ 0.47g/t Au, 0.53% Cu from 998m. The Cascabel Project is located on the northern section of t | |
| 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: | [Overall Report]: Jason Ward (Internal) | |
| ABSTRACT: | The Cascabel Project is located on the northern section of the prolific Andean Copper belt, renowned as the base for nearly half of the world’s copper production. 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-hour drive north of Quito, close to water, power supply and Pacific ports (Figure 1). Having fulfilled its earn in requirements, SolGold is a registered shareholder with an unencumbered legal and beneficial 85% interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel tenement covering approximately 50km2 . Approximately 114,000m of diamond drilling has been completed on the project. Currently, 12 drill rigs are active on site, with 10 rigs drilling on the Alpala cluster (Figure 2), and 2 rigs drilling at the Aguinaga prospect (Figure 3). The Cascabel drill program for 2018 comprises over 120,000m of planned drilling focussing on extending and infilling the Alpala Resource, as well as further drill testing of the rapidly evolving Aguinaga prospect. Drill testing of the Trivinio target continues, whilst the numerous other untested targets, namely at Moran, Cristal, Tandayama-America and Chinambicito, are flagged for drill testing as overall program demands allow. Assay results from the initial 53,616m of drilling at Alpala were incorporated into the Alpala maiden Mineral Resource Estimate (MRE) completed in December 2017 and announced on 3 January 2018. A further 60,300m of drilling has been completed since development of the MRE, and major resource growth is expected in a revised MRE. | |
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