LONDON (Alliance News) - SolGold PLC on Tuesday said it has received the highest-grade assay results so far for its Cascabel copper-gold porphyry project in Ecuador.
The company said drilling at Hole 12 showed intersects of up to 1.75% copper.
SolGold also said the Aguinaga prospect is maturing as a drill target and has a similar geophysical signature to the Alumbrera copper mine in Argentina.
"Another intersection of more than a kilometre of copper and gold mineralisation in Hole 12 confirms that SolGold's Cascabel Project has the potential to be one of the most significant copper-gold discoveries of recent times," said Nick Mather, SolGold's chief executive and managing director.
Shares in SolGold were up 17% on the news to 2.22 pence, one of the best performers in the AIM All-Share in early trade on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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SolGold (SOLG)