SolGold CEO Nick Mather said: "There is good indication that Cascabel should continue to report consistent drilling results along the lines of those already seen.
"The project, in Northern Ecuador, is in an under-explored section of the richly endowed Andean Copper Belt, home to Ecuador’s world-class 982 million tonne Junin project and First Quantum’s giant Cobre Panama project in Panama with a resource of 3 billion tonnes. The Board looks forward to further drilling, proving up the project’s scale and significant potential economic value."
FURTHER INFORMATION
Hole 12 is located 95 metres southeast of the Hole 5 collar and has commenced drilling towards the southwest at -87 degrees. Hole 12 is positioned to extend the known strike length of high grade copper and gold mineralisation by a further 95m to the southeast.
Hole 12 targets extensions of high grade mineralisation encountered in Hole 5 that produced spectacular intersections, including 532m @ 1.05 % Cu, and 1.08 g/t Au from 778m, and 258m @ 1.27 % Cu, and 1.27 g/t Au from 1052m.
Recent results obtained from Hole 11 confirm the continuous nature of the Alpala Central porphyry system. There is increasing confidence that the system will extend beyond the current Hole 12 hole path, which passes below >2% "B"-type quartz veins mapped at surface.
SolGold geologists expect intersections of greater than 2% "B"-type quartz vein abundance in Hole 12, as predicted by level plan and section interpretation. These interpretations are illustrated by the 500m RL level-plan, around 1100m below surface, and the southwest-northeast section parallel with the Hole 12 planned drill path.
