LONDON (Alliance News) - SolGold PLC Thursday said it has received positive assay results from further drilling at the Cascabel Project in Ecuador.
The copper and gold focused mining company with operations in Ecuador, Australia and the Solomon Islands said the CSD-13-001 drill hole in the Alpala prospect found copper-gold mineralisation over two zones.
The first zone found 104 metres of ore at 0.37% copper and 0.38 grams per tonne of gold from 16 metres down and the second zone found 100 metres of ore at 0.50% copper and 1 gram per tonne of gold from 222 metres down.
The company said it also found some small high grade zones with 1% copper levels and that it believes there is a potentially significantly copper-gold zone at the site.
SolGold shares were up 1.5% to 6.60 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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SolGold (SOLG)