Australia-based SolGold has unveiled new copper and gold assays at its Cascabel copper-gold porphyry exploration project in northern Ecuador.

Assay results from Hole 5 at the Alpala prospect returned intersections of 324.32m at 1.07% copper and 1.16g per tonne of gold from a depth of 869.68m.

The length of hole interval assayed so far from 24m to 1,194m depth yielded 1,170m grading at 0.58% copper and 0.49g per tonne of gold.

The company said that assays for the 136m interval 1,194m to 1,330m are anticipated in the next seven days and the gold-rich nature of the Alpala copper porphyry system has been confirmed.

"The likelihood of a world-class copper-gold porphyry at Alpala is increasingly strong."

Drilling will now be conducted on Hole 6, which is a targeting extension to the copper-gold mineralisation in Hole 5, 300m to the north-west.

Gridding continues for the planned 12km² of 3D induced polarisation survey in April, to assist predictions of the distribution of copper-sulphide zones.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

SolGold CEO and managing director Alan Martin said the high-grade copper and gold results from 870m to 1,194m are spectacular.

"These results demonstrate the high-grade tenor of the Alpala system and with the copper and gold mineralisation, identified by assay or visual observation, continuing from close-to-surface to almost 1.4km down-hole, the likelihood of a world-class copper-gold porphyry at Alpala is increasingly strong," Martin said.

SolGold’s exploration projects are sitauted in northern Ecuador, Australia and the Solomon Islands.

In Australia, the company holds 100% of the Rannes, Mt Perry, Cracow West and Normanby projects, which are located in south-east Queensland.

The company’s projects in the Solomon Islands include the Fauro, on Fauro Island and the Lower Koloula, Malukuna and Kuma licenses, which are situated on Guadalcanal.