Bishopsgate, London (FSCwire) - SolGold plc ("SolGold" or the "Company") 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).
HIGHLIGHTS:
- Alpala Maiden Mineral Resource Estimate across both Indicated and Inferred classifications totals a current 1.08 Bt @ 0.68% CuEq (7.4 Mt CuEq) at 0.3% CuEq cut off, some 40% of which is in the Indicated category (by tonnage).
- Contained metal content totals a current 5.2 Mt Cu and 12.3 Moz Au, some 45% of which is within the Indicated category (by contained metal).
- Higher grade core has a current 120 Mt @ 1.8% CuEq (2.0 Mt CuEq) at a 1.1% CuEq cut off, some 60% of which is in the Indicated category (by tonnage);
- A further 100 Mt @ 1.0% CuEq (1.0 Mt CuEq) is added to the high grade core if a 0.9% CuEq cut off is used, some 50% of which is in the Indicated category (by tonnage).
- Estimate completed from 53,616m of drilling, approximately 84% of 63,500m metres drilled to date.
- Assay results still pending for a further 9,844m of drill core (16%) of the total to 21 December 2017.
- Strong potential for further growth in the deposit from pending assay results from recent drilling, conversion of current inferred to indicated mineral resources, and discovery of additional mineralisation in unclosed areas such as Alpala East, up dip Alpala Central, and Alpala North West and South East.
- 11 diamond drill rigs currently active at Cascabel, with a total of 12 to be active in January 2018. Over 120,000 metres planned in 2018.
