30th Jan 2014 11:20
LONDON (Alliance News) - SolGold PLC Thursday said its temporarily suspended drill hole CSD-13-005 at its Cascabel project has now resumed operations.
The gold exploration company said the drilling has resumed at the site in Ecuador from a depth of 869.68 metres, targeting 1,500 metres in total depth.
Before suspension, the hole found high grade copper and gold mineralisation at 0.90% copper and 0.79 grams per tonne gold from 778 metres to 869.68 metres.
The company said the grade is increasing downhole and it expects the mineralisation to extend well beyond the current depth, confirming the copper-gold significance of a four kilometre Alpala Magnetic Complex.
The drill hole was suspended on December 20 pending the delivery of additional drilling equipment.
SolGold shares were down 1.2% to 8.40 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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