SolGold mobilises diamond drill rigs at Aguinaga

Australia-based exploration and development group SolGold has been making arrangements to move two diamond drill rigs to its project on the Aguinaga prospect in northern Ecuador after the group identified five high-priority drill targets.

Ben Whistler, SolGold's technical services manager, said "The targets we have now developed at Aguinaga are very compelling due to the coincidence of diagnostic anomalies in key supporting datasets, including surface mapping and sampling, spectral alteration clay species mapping, soil-and auger-geochemical results and the integration of magnetics, IP chargeability and Magneto Telluric resistivity models."

SolGold holds an 85% stake in the Cascabel project, where Aguinaga is located, which covers part of the prolific Andean Copper belt, responsible for nearly half of the world's copper production.

"First pass drilling will commence to test five high-priority drill holes, initially up to 1200m deep, using two man-portable drill rigs. Both drill rigs are planned to be moved into Aguinaga later this month, once they have completed their current holes at Alpala. Since the arrival of five large drill rigs into the Alpala drill program, producing up to 100m of drill-core a day, SolGold is able to make these rigs available to test the Aguinaga and other peripheral targets," Whistler added.

As of 0840 GMT, shares had grown 3.01% to 22.92p.