SolGold plc (LON:SOLG) announced on Thursday that drilling is underway at the Tandayama-America Porphyry Copper-Gold target at the Cascabel project in northern Ecuador.
Rig 5 is drilling the first hole at Tandayama-America, TAD-20-001, and is at a current depth of 258 metres (m). Drilling has intersected visible chalcopyrite copper sulphide mineralisation from 55m depth, with additional visible molybdenite and sphalerite mineralisation occurring from 199m depth.
Rig 6 is drilling the second hole at Tandayama-America, TAD-20-002, and is at a current depth of 104m. Drilling has intersected visible chalcopyrite mineralisation from 44m depth, including trace visible bornite from 68m depth.
"We have always been interested in the drill targets at Tandayama-America; however, the prioritisation of the Alpala Resource and Feasibility Drilling Programmes has seen this target scheduled to form part of the Cascabel feasibility sterilisation drilling programme now underway,” said Benn Whistler, SolGold’s technical services manager.
“The Tandayama soil copper and molybdenum anomalies are two of the largest anomalies on the project. The rock-saw channel assay results from surface exposures in Tandayama Creek returned a moderate intercept of 37m @ 0.25%CuEq and if this exposure represents an intra-mineral intrusion there remains potential for drill testing to intersect earlier, richer intrusions. At this stage mineralisation does appear to be increasing down hole which bodes well as both drill holes enter the area of combined cu-mo-au soil anomalism," he added.