SolGold posts 'strongly mineralised' results from Ecuadorian rock chip assays

Copper and gold exploration and development company SolGold returned "strongly mineralised" rock chip results from its newly identified outcrop on its 100%-owned La Hueca project in southern Ecuador.

SolGold identified mineralisation at a target 2.4km away from the main La Hueca mineralisation, along the breccia fault, that stretched over 250m was open along strike in both directions.

Top tier rock chip assays returned 2.23% copper, 0.21g of gold per tonne of ore, and 4.45% zinc at one hole and 2.13% copper, 0.13g of gold per tonne, and 1.53% zinc at another.

SolGold said an additional target returned anomalous copper and gold results, and that other regional project areas had yielded "encouraging results".

The firm was planning to conduct a 3D geochemical modelling to ascertain ideal target depth along with continued field prospecting.

At Yatubi, another of SolGold's Ecuadorian assets, tenements were said to be highly prospective for porphyry copper and volcanogenic massive sulphite-type deposits, where it had identified several mineralised outcrops and a large outcropping area of quartz-tourmaline breccia.

As of 1440 GMT, shares had gained 1.32% to 26.85p.