10th Dec 2015 08:21
LONDON (Alliance News) - SolGold PLC Thursday said it has received the first batch of assay results from hole 13 at the Cascabel project in Ecuador which have confirmed an extension to the copper and gold mineralisation.
The first set of results were collected from samples taken between a depth of 926.0 to 1,302.0 metres in hole 13, returning an open-ended intersection of 376.0 metres at 0.52% copper and 0.25 grammes of gold per tonne of ore.
Hole 13 is in the Alpala Northwest area and the results have confirmed the gold and copper mineralisation extends the known strike length of the greater Alpala porphyry system to over 600.0 metres, it said.
"Significant portions of the Alpala porphyry system remain untested and mineralisation remains open in all directions," said the company.
"An aggressive drilling program is planned for the coming year in order to test the numerous targets being developed at Alpala, Aguinaga, and the recently defined Trivino," it added.
SolGold is expecting the rest of the outstanding assay results before the end of 2015.
SolGold shares were up 1.5% to 1.39 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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