20th Aug 2018 13:24
LONDON (Alliance News) - SolGold PLC on Monday said significant resource growth is expected from a revised resource estimate at its Ecuadorian Cascabel project.
The mining company said the 83 kilometres of drilling that have been completed since the maiden mineral resource estimate have led it to expect notable growth from the upcoming revised resource estimate at Cascabel.
"3D geological and grade models on site confirm the core of the deposit to have uninterrupted true dimension of up to 750 metres vertically, 700 metres long, and 300 metres wide, at a cut-off grade of 1.5% copper equivalent...Additional, high grade tonnage being defined along the western lobe, which lies in a slightly raised position, adjacent to the high grade core is very encouraging," said SolGold technical services manager Benn Whistler.
Whistler noted that further planned drilling will also contribute to the revised estimate.
"The outstanding 17,000 metres of planned drilling will see 100 kilometres of further drilling incorporated into an updated mineral resource estimate to provide an even stronger resource base for the project," he said.
Shares in SolGold were up 3.0% at 22.14 pence on Monday.
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