16th Feb 2016 09:57
LONDON (Alliance News) - SolGold PLC on Tuesday said Hole 16 at the Cascabel copper-gold porphyry project in Ecuador has been drilled beyond depth, raising the possibility of extending the project area.
SolGold said drilling at Hole 16 has intersected significant visible copper mineralisation. The results from the hole so far open the prospect that the company will be able to extend the Alpala deposit at the site to the south east of the project.
The company said significant parts of the Alpala area remain untested and a significant drilling programme will take place in 2016 to test the targets, along with other prospects in the Cascabel area.
SolGold shares were up 5.6% to 1.98 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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