Exploration continues apace at copper and gold explorer SolGold plc's (LON:SOLG)Cascabel property in Ecuador, where the group is targeting a maiden resource for the Alpala prospect in the third quarter of 2016.
Cascabel plays host to multiple targets and has already unearthed world class drilling intersections over 1km, and found high copper and gold grades.
One such is the Moran prospect, where sampling has shown an outcropping and visually copper mineralised porphyry system around 1.2 km north of the Alpala North West centre of the Alpala trend.
There, the group has also identified, via 3D magnetic modelling, an anomaly at 350 metres depth, and SolGold is now targeting this along with extensions northwards and surface mineralisation as prospective for 1,000Mt (metric tonnes) of resource in addition to the Alpala deposit.
The exploration group is now focusing efforts on extensions around the Alpala South prospect, Trevinio, and the Aguinaga prospect where an infill deep auguring drill programme is underway.
Maintenance of the drill rigs is now taking place and the position of holes 18 and 19 will be decided after the results of the Moran exploration.
The discovery of the Moran system brings to 11 the number of orebody targets defined so far at Cascabel.
Shares in SolGold nudged 0.85% higher at 2.975p.