2nd Feb 2015 08:02
LONDON (Alliance News) - SolGold PLC Monday said it has started drilling Hole 10 at its Cascabel copper-gold porphyry project in Ecuador, targeting extensions to the high-grade copper-gold zones it intersected when drilling Hole 9.
In a statement, the company said Hold 10 has already been drilled to a depth of 131 metres, after Hole 9 was terminated earlier in January at a depth of 1,757.35 metres due to poor ground conditions.
However, Hole 9 did generate a "highly significant" high-grade copper-gold drill intersection of 1,050.80 metres at 0.68 % copper and 0.92 grammes per tonne gold, the company previously reported.
"Hole 10 is targeted to intersect the northwest strike extension of the Hole 9 high-grade copper and gold zones approximately 80 metres northwest of the Hole 9 intersections," the company said.
"The potential economic value-add to the company from the development of these zones is considerable, and future drilling will target the definition of these zones within the broader Alpala porphyry system," it added.
By Steve McGrath; [email protected]; @stevemcgrath1
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