30th Mar 2016 10:24
LONDON (Alliance News) - SolGold PLC on Wednesday said drilling at Hole 14 of the copper-gold porphyry project in Ecuador has increased the average width of the Alpala deposit.
SolGold said drilling at Hole 14 delivered intersections of up to 0.83% copper and 1.08 grams per tonne of gold and increased the average width of the Alpala deposit to 300 metres.
In addition, the drilling showed the deposit continues to remain open to the east and north east.
Drilling has also continued on the Hole 15 and 16 sites at Cascabel, with Hole 16 intersecting intense multidirectional quartz-magnetite-copper sulphide veining. Drilling on Hole 17 is set to start from the same site at Hole 16.
SolGold added negotiations to secure an additional drilling contractor are being finalised.
SolGold shares were down 14% to 3.685 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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