SolGold gets highest-grade assay results to date for Cascabel project

SolGold has received the highest-grade assay results to date for its Cascabel copper-gold porphyry project in Ecuador.

The company said drilling at Hole 12 showed intersects of up to 1.75% copper.

Chief executive officer and managing director Nick Mather said: “Another intersection of more than a kilometre of copper and gold mineralization in Hole 12 confirms that SolGold's Cascabel project has the potential to be one of the most significant copper-gold discoveries of recent times.”

In addition, SolGold said it is rapidly advancing the Aguinaga target, adding that it has a very similar signature to BHP Billiton’s “giant copper cash cow” Alumbrera in Argentina.

At 1050 BST, SolGold shares were up 17% to 2.22p.