April 10, 2015

SolGold starts eleventh hole at Cascabel in Ecuador

SolGold (LON:SOLG) has started to drill its eleventh hole on the Alpala target at Cascabel in Ecuador.


The new exploration is 180 metres northwest of the Hole 10, which was halted early due to ground problems at around 1,000 feet.


The drill is in the southern margin of the main target area and will test for a continuation of the extensive mineralisation encountered already at Central Alpala.


Recent drilling has uncovered some of the best results from the copper/gold deposit, with hole nine intersecting 1,271 metres grading 0.59% copper and 0.77 grams per tonne of gold from 430 metres onwards.


The company announced yesterday it had raised £2.24mln from an open offer to fund the drill programme.



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