Bishopsgate, London (FSCwire) - The Board of SolGold (LSE and TSX code: SOLG) is pleased to provide an update on the drilling programs at Alpala and Aguinaga, at the Company’s Cascabel project in Northern Ecuador.
HIGHLIGHTS:
- Drilling at Alpala continues to extend the high-grade mineralisation (which is expected to also extend the high grade resource) along the southwestern margin of the Alpala Central Deposit, as indicated by Hole 42, from which partial assay results have thus far returned 846m @ 1.02 % CuEq, including 504m @ 1.28 % CuEq, both open at depth and awaiting remaining assay results.
- Infill drilling within the high-grade core of the Alpala Central Deposit is expected to significantly increase the high-grade resource tonnage, as shown by Hole 43 (974m @ 0.71% CuEq, including 478m @ 1.02% CuEq), and Hole 41-D1, which has thus far intersected approximately 688m of visible chalcopyrite mineralisation from 1003.8m depth (drilling continues and assay results pending).
- Extension drilling at Alpala Northwest continues to intersect strongly mineralised extensions, as indicated by Hole 37 (842m @ 0.44% CuEq), and Hole 37-D1, which has thus far intersected approximately 450.3m of abundant visible chalcopyrite mineralisation from 1309.4m depth (drilling continues).
- Trivinio drill testing scheduled to commence within a week.
- Aguinaga first drill hole (AGD-18-001)
- Aguinaga second drill hole to test depth extensions under AGD-18-001.
Commenting on progress, CEO Nick Mather said: “The drill program is proceeding according to plan. We are finding a lot more high grade intersections outside the current resource model for Alpala. The takeaway is that extra high grade resource tonnes will have a significant and positive impact on value. Allowing for this, and with what we believe to be a unique set of logistical advantages compared to many "high and dry" Chilean projects, increasing high grade mineralisation, the discovery at Aguinaga, and the increasing demand and price for copper and gold, the upside in this project is very exciting.”
