SolGold (LON:SOLG) has released a batch of results from its recently completed programme at the Cascabel copper gold project in Ecuador.
Four drill holes - Hole 13 through Hole 16 - encountered mineralisation.
This morning’s update includes the final assay results from Hole 13, showing 480 metres of material with a copper grade of 0.46% and 0.22 grams per tonne (g/t) gold. Within that there was 206 metres with 0.61% copper and 0.3 g/t gold.
The findings in Hole 16, which was set on the northwest extremity of the Alpala trend, point to higher grades within an as yet untested core area, the company said. It also indicates that the Alpala trend extends by an additional 200metres, and altogether it has now been defined over 600 metres length.
Drilling of Hole 14 was completed on January 17. The hole, positioned on the eastern flank of Alpala, confirmed mineralised porphyry intrusions from depths between 669 metres to 1,176 metres. Assay results are anticipated later in February.
Hole 15 has so far been drilled to a depth of 1,048 metres, but, has been delayed for technical reasons. It is targeting extensions to the Alpala Central deposit, and has encountered mineralised porphyry from 870.3 metres to the current depth.
Hole 16 is located on the site as Hole 14, it is just 179 metres deep currently and has thus far encountered volcanics containing fine-grained copper sulphide mineralisation and weak veining.
It is designed to extend the Alpala Central deposit by 100 metres, to the southeast of Hole 12 which as SolGold highlights had world class results (1,213 metres of mineralisation with an average of 0.67% copper and 0.63 g/t gold).
SolGold also highlights ongoing progress with mapping and sampling.
Sampling work has now covered some 360,000 square metres of the Trivinio area, where outcrops have also now been mapped and sampled in detail. Assays are expected in mid-February.
Analysis of magnetic data, meanwhile, suggests the greater Alpala trend could be very large, SolGold said, as it highlighted that just 600 metres of a possible 2,500 metre strike length has been drilled and the deposit has not been ‘closed off’ at depth.
Meanwhile, at the Aguinaga area a programme of auguring and pitting has begun. The work is expected to be complete by the end of February.