SolGold makes good drilling progress at Cascabel

SolGold updated the market on drilling programs at Alpala and Aguinaga, at its Cascabel project in Northern Ecuador on Friday, reporting that extension drilling at the Alpala Central 'high-grade core’ was expected to extend the high-grade mineralisation along the lower and northeast margins of the deposit.

The AIM-traded firm said infill drilling at Alpala Central was expected to contribute to an upgrade of the resource, where early stage copper and gold rich intrusions appeared on drill evidence to be more continuous than previously modelled.

It said hole 55R returned 458m at 0.71% CuEq, including 66m at 1.17% CuEq.

Hole 41-D1-D2 had thus far intersected more than 380m of visible copper sulphide mineralisation, including visual estimates of more than 4% chalcopyrite, with drilling continuing.

Over at hole 58, drilling ahd intersected approximately 980m of visible copper sulphide mineralisation, including estimates of more than 2.5% Chalcopyrite, with assay results pending.

Extension drilling at Alpala Central’s ‘Western Lobe’ was continuing to intersect shallow mineralisation above the existing resource limits along the southwest margin of the deposit, in a large lobe of early diorite intrusion hosting high-grade mineralisation to within 450m of surface - about 250m closer to surface than previously modelled, SolGold added.

Hole 60 intersected approximately 180m of visible copper sulphide mineralisation, including visual estimates of over 5.5% chalcopyrite, with assay results pending.

Extension drilling at Alpala Northwest and Trivinio was continuing to extend the Alpala deposit, it also said.

Hole 56 intersected a strongly altered fault zone returning 4m at 172.00g/t Au, with a QAQC re-assay of pulp, reject, and quarter core re-assay pending.

At hole 56-D1, drilling had thus far intersected approximately 305m of visible copper sulphide mineralisation, with drilling continuing, and at hole 59R it had intersected around 570m of visible copper sulphide mineralisation, with assay results pending.

“Aguinaga drilling has confirmed near surface potential,” SolGold’s board added.

“Hole 6 has intersected strongly mineralised early diorite intrusion, with visual estimates of over 3% Chalcopyrite mineralisation, from 30m below surface, [where] drilling continues.

“Hole 7 has thus far intersected 67m of visual copper sulphide mineralisation from 55m below surface, [where] drilling continues.”