Cascabel Exploration Update - Alpala Drilling
Bishopsgate, London (FSCwire) - The Board of SolGold (LSE and TSX code: SOLG) is pleased to provide an update on the drill program at the Alpala Porphyry Copper-Gold Deposit, at the Company's Cascabel project in Northern Ecuador.
HIGHLIGHTS:
- Assay results from recent drill holes expected to add significantly to the existing December 2017 Alpala Mineral Resource Estimate (MRE), include:
Hole 26-D3: 1100m @ 0.54% CuEq, incl. 164m @ 0.76% CuEq, and 224m @ 0.75% CuEq;
Hole 29-D1: 178m @ 0.62% CuEq, incl. 48m @ 0.82% CuEq;
Hole 33: 824m @ 0.80% CuEq, incl. 576m @ 0.93% CuEq, and 262m @ 1.15% CuEq;
Hole 33-D1: 604m @ 0.73%CuEq, incl. 146m @ 1.71% CuEq, and 106m @ 2.13% CuEq;
Hole 35: 320m @ 0.60% CuEq, incl. 160m @ 0.76%CuEq.
- Hole 36 partial assays indicate very high grades at Alpala Northwest, returning an open ended 82m @ 1.57% CuEq (1494-1576m). Assays beyond 1576m are pending.
- Drilling intersections, awaiting assay results, expected to add significantly to the existing December 2017 Alpala Mineral Resource Estimate (MRE), include:
Hole 36: Approximately 568m of visual copper sulphide mineralisation (1432-2000m);
Hole 37: Approximately 222m of visual copper sulphide mineralisation, open at depth as drilling continues (1620-1842m). This hole is particularly important, implying major system extensions northwest towards the Trivinio prospect;
Hole 39: Approximately 205m of visual copper sulphide mineralisation (665-870m);
Hole 42: Approximately 602m of visual copper sulphide mineralisation, including bornite, open at depth as drilling continues (309-911m);
Hole 43: Approximately 205m of visual copper sulphide mineralisation, including bornite, open at depth as drilling continues (665-870m).
- Hole 37 (in progress) at Alpala Northwest intersects primary Bornite-Chalcopyrite-Magnetite assemblage, characteristic of the rich centre of many porphyry copper-gold systems.
- Drilling costs more than halved from USD1,100 per metre to USD500 per metre.
- Track mounted rigs exceeding expectations allowing rig release and man-portable deployments to satellite targets.
- Significant budget savings planned.
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Source: SolGold plc (TSX:SOLG, AIM:SOLG, OTC Pink:SLGGF)
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