16th Oct 2013 08:07
LONDON (Alliance News) - SolGold PLC Wednesday said its final assay results at the first test site at Cascabel in Ecuador have lifted the company's copper grades.
The copper- and gold-focused mining company with operations in Ecuador, Australia and the Solomon Islands said it has received final assay results at the drill hole CSD-13-001, including a 302-metre space with 0.39% copper and 0.48 grams per tonne of gold, and a 100-metre space with 0.65% copper and 1.0 grams per tonne of gold.
The company said the results meant a 15% increase in the copper grade in the 302-metre interval at the site and a 30% increase in the 100-metre interval.
SolGold said it also uncovered another high-grade zone of 58 metres with 1.67 grams per tonne of gold, and it said mineralisation at the site indicates a potentially significant copper-gold-porphyry system.
The company said it is conducting further drilling at the site and expects the first 200 metres at its second drill hole to be completed within two weeks.
SolGold shares were up 3.5% to 8.88 pence in early trading Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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