SolGold on track for December resource estimate at Cascabel

Solgold

7.63p

15:39 15/11/24

2.69%

0.20p

SolGold updated the market on the Alpala maiden mineral resource estimate on Monday, which is underway at its 85% owned copper-gold porphyry Cascabel Project in Ecuador.

Mining

10,633.77

15:45 15/11/24

1.51%

158.40

The AIM-traded firm said the Alpala maiden mineral resource estimate was on track for completion in late December.

Its technical service manager Benn Whistler said the company was “pleased” with the way SRK had been able to replicate the geological detail of the deposit as interpreted in level plans and cross-sections throughout the existing deposit, adding that he envisaged a “very accurate” estimate.

“This maiden resource is by no means a final quantity because the deposit is still growing, and as such we plan to announce updated MRE statements on a quarterly basis through 2018.”

SolGold's CEO and managing director Nick Mather further remarked that the Alpala deposit would continue to grow, with further drilling expedited through the arrival of four more large-track mounted drills this month.

“We plan to immediately follow the MRE up with initiation of a preliminary economic assessment of the deposit at Alpala, towards commencement of the pre-feasibility study planned for instigation in late 2018.”