SolGold (LON:SOLG) said drilling has extended copper sulphide mineralisation at the Alpala prospect within the Cascabel project in Ecuador, indicating a very substantial copper-gold porphyry system.
Strongly visible porphyry copper sulphide mineralisation has continued as drill hole number 5 reached a depth of 1303.5 metres (m). The company expects the hole to be drilled to a depth of 1,500m, or to a level where the copper mineralisation significantly diminishes, over the next 10 days.
Cascabel is located in north-western Ecuador in an under-explored northern section of the richly endowed Andean Copper Belt.
“Its location in the Andean Copper Belt, one of the world's most prolific copper-gold porphyry regions, augurs strongly for the discovery of a world class project,” said chief executive and managing director Alan Martin.