20th Jul 2016 09:11
LONDON (Alliance News) - SolGold PLC Wednesday said one of the assay results that was published last week from the Cascabel project in Ecuador was incorrect due to a "reporting error" by the independent laboratory, but said the actual result is considerably better.
SolGold published the results from Hole 17 at Cascabel last Tuesday, providing three high-grade intersections that were discovered. Only one of those intersections was incorrect.
The previous, and now incorrect, intersection was 136. metres at 1.28% copper and 2.2 grammes of gold per tonne, equal to 3.24% copper equivalent.
That intersection has now been corrected and upgraded to 150. metres at 1.54% copper and 2.05 grammes of gold per tonne, or 3.36% copper equivalent.
The other two high intersection results from Hole 17 that were published last week remain unchanged at 562 metres at 0.70% copper and 0.75 grams per tonne of gold and 248 metres at 0.94% copper and 1.36 grams per tonne of gold.
Taking the correction into account, the overall intersection from Hole 17 has changed and now stands at 948 metres at 0.6% copper and 0.53 grammes of gold per tonne, or 1.07% copper equivalent.
SolGold shares were trading up 3.2% to 4.03 pence per share on Wednesday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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