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SolGold drilling continuing to hit copper

Published: 07:24 25 Apr 2016 BST

Pictured is a bundled load of copper wires...
The red metal - copper...

Explorer SolGold PLC (LON:SOLG) updated on progress at two holes at its Cascabel prospect in Ecuador, one of which continues to hit significant copper, which is increasing at depth.

That is hole  15R2 , which as of April 24, was at 1,401 metres, while hole 17 is at 519.4metres, the firm said.

Hole 15R2 has so far hit more than 400m of porphyry style copper sulphide mineralisation and has a planned depth of 1800m.

Hole 15R2 is targeting extensions of the Alpala deposit to the north, and at depth, from  a previous hole, which intersected 1050.8 metres at 0.68% copper  and 0.92 g/t gold.

Meanwhile, the 17th holes is being drilled from the same pad as 16, and is targeting upper extensions of strong copper and gold mineralisation intersected in holes 5 and 12, both of which returned world class intersections of over 1000m grading above 1% copper equivalent.

Earlier this month, the group discovered another porphyry style copper gold mineralisation prospect at the surface 400m south of Alpala Creek.

SolGold is carrying out detailed mailing and rock sampling over the prospect and also the Hematite Hill area.

Porphyry systems, deep underground, have housed some of the world’s largest ever copper discoveries.

Cascabel lies on the Andean copper belt, the same geological trend as some of the largest copper and gold finds.

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