SolGold’s (LON:SOLG) first assays from the latest hole at copper target Cascabel in Ecuador showed an intersection open-ended from a depth of just over 900 metres (m).
The first batch from Hole 13 indicated 376m of copper at a grade of 0.52% and 0.25 grams per tonne (g/t) gold between 926m and 1,302m.
The explorer added that the assays confirmed copper-gold mineralisation at Alpala Northwest and extends the known strike length of the greater Alpala porphyry system to over 600m.
The company added it hopes to have the remaining assays from Hole 13 before the end of the year.
Alpala is one of a number of targets being drilled by SolGold at Cascabel.
Yesterday it reported copper and gold mineralisation has been uncovered on-surface at the Trivino target at Cascabel, two kilometres north east of Alpala.
It added that zones of high copper/zinc values in soil samples indicate higher temperatures of mineralisation and suggest that there are several untested porphyry centres within the greater Alpala area
Fieldwork will assess these initially with one zone of 200m between Holes 13 and 11 of particular interest.
SolGold’s next two holes, 14 and 15, are also currently underway with 14 currently at a depth of 1,320m, and 15 at 706m.
Both holes have intersected visible porphyry style stock work veining.