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SolGold to add second rig to accelerate drilling at Cascabel

Published: 09:48 12 May 2015 BST

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SolGold is to add a second rig at Cascabel to speed up the drilling of a high grade central area at the main target Alpala.

SolGold (LON:SOLG) is to add a second rig at Cascabel to speed up the drilling of a high grade central area at the main target Alpala.

The high grade zone is up to 85Mt at Alpala Central and SolGold plans to drill deviations from the existing holes 5, 7, 8, 9, 10 and 11.  

Use of deviated holes can save up to 24 days drilling for each, it said, and combined with the results generated already it is targeting a maiden inferred resource in approximately 12 months.

“If the determination is made to have two rigs drilling multiple deviated holes off the initial parent holes, the company expects to be able to drill 20 more holes (18,000 metres) and reduce the all-in costs of drilling from $720 to $480 per metre,” it said.

The new rig will also be able to test how far the mineralisation at Alpala extends. Alpala has been the main exploration focus at Cascabel following bumper grades of copper uncovered in holes five and nine. 

SolGold added it has also split the exploration responsibilities at its Cascabel following the departure of Bruce Rohrlach, the current exploration manager. 

Steve Garwin will take on the duties of Chief Technical Advisor while Jason Ward will become exploration manager in addition to his role as country manager.

Garwin, who worked previously with Newmont, has already been involved in the mapping and logging strategies at Cascabel.


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