Ecuador-focused miner SolGold (LON, TSX:SOLG) said drilling at its Cascabel copper-gold project in the country’s north, one of the few new red-metal bearing ones expected to come online in the near future, has revealed previously unknown mineralization.
Together with high-grade find, over 1.5% copper equivalent, the company has also detected mineralization within the inferred resource area at the Alpala resource, as well as some medium grade mineralization of between 0.7% copper equivalent and the high-grade threshold of 1.5%.
“The drilling campaign continues to deliver to our expectations with these latest results revealing previously unknown mineralization and providing a clear indication of the growth potential that exists through the extension of the Alpala resource,” chief executive Nick Mather said in the statement.
As part of its ongoing exploration work at the asset, the Australian miner has so far completed 189,984 metres of drilling on Alpala, which includes Alpala Northwest, Alpala Western Limb, Alpala South and Trivinio.
The previously unknown source intrusion was found at the Alpala Northwest prospect, and proves Cascabel has more potential than previously thought for a further significant resource extension, the company said.
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