LONDON (Alliance News) - SolGold PLC Wednesday said it exploration drilling has intersected copper mineralisation in its Cascabel gold and copper project in Ecuador.
The gold exploration company with operations in Ecuador, Solomon islands and Australia said that its drill hole CSD-13-001 at the Alpala prospect in its Cascabel project intersected good quality porphyry copper mineralisation.
The company said it found over 111.5 metres of mineralised ore with variable copper sulphides in the drill hole, which is in an area known for strong mineralised copper recoveries.
SolGold plans to drill five holes as part of its 2,500 metre programme in the area.
"The rest of the holes in the Stage 1 drill program are expected to be completed over the next eight weeks and I look forward to updating shareholders with our progress," Chief executive Alan Martin said in a statement.
SolGold shares were down 0.06 pence, or 0.4% to 13.44 pence Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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