SolGold (LON:SOLG) has provided an exploration update for its Cascabel copper-gold porphyry project in Ecuador.
– Hole 19 intersects over 800m of significant copper mineralisation from 325.6m to current depth 1161.5m, including a more intensely mineralised section from 545.9m.
– Bornite (or ‘peacock ore’, a copper rich sulphide mineral containing 63% copper, prized in commercial copper concentrates) and molybdenite are present in the mineralised section of hole 19. Up to 2.0% bornite and 4.3% chalcopyrite (35% copper) has been visually logged over selected short intervals.
– Bornite mineralisation mapped at surface, and in hole 19 to date, endorse Hematite Hill, Alpala Southeast, and Cristal as high priority targets over 750m of strike extension southeast of Alpala Central.
– Preparations for drill rigs 4 and 5 continue ahead of drill testing the zone southeast of Alpala.
– Hole 18 encountered significant and intense veining and mineralisation from 903.9m to 1568.9m, a distance of some 665 metres and continues at 2144.8m depth, testing the lower levels and south western side of the Alpala system.
– Hole 20R enters significant brecciated (fragmented) porphyry style copper mineralisation at 905.4m, approximately 200m high to prognosis, indicating widening and shallowing of the mineralised zone on the east and north east side of Alpala Central. Mineralisation continues to current depth of 1050.0m.
– Preparations for Toronto Stock Exchange and Standard Main Market listing of the London Stock Exchange continue.
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The sector’s biggest risers were Metminco (LON:MNC) which resumed trading on AIM having completed a 50:1 share consolidation and Aurum Mining (LON:AUR). The biggest fallers were Weatherly International (LON:WTI) and Coal of Africa Ltd (LON:CZA).
(LON:AUR) Aurum Mining PLC share price was +1p at 6.68p
(LON:BEM) Beowulf Mining PLC share price was +0.5p at 6.5p
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(LON:GEMD) Gem Diamonds Ltd share price was +0.5p at 110p
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(LON:SOLG) SolGold PLC share price was +1.38p at 25.5p
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