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SolGold PLC Announces Cascabel Exploration Update - Tandayama-Ameríca10.09.2021 | 2:00 Uhr | Accesswire
Drilling encounters high grade zone at Tandayama-Ameríca, Cascabel BISHOPSGATE, September 10, 2021 - The Board of Directors of SolGold (LSE:SOLG)(TSX:SOLG) is pleased to provide an update on its Tandayama-Ameríca ("TAM") porphyry copper-gold deposit which lies approximately 3km north of the Alpala deposit that comprises 2,663 Mt at 0.53% CuEq [1] in the Measured plus Indicated categories and contained metal content of 9.9 Mt Cu, 21.7 Moz Au and 92.2 Moz Ag [2], at the Company's Cascabel project, held by Exploraciones Novomining S.A. ("ENSA"), an 85% owned subsidiary of SolGold. HIGHLIGHTS
? 1,010m @ 0.55% CuEq, including: o 824m @ 0.63% CuEq o 736m @ 0.69% CuEq o 392m @ 0.93% CuEq o 132m @ 1.09% CuEq
? Hole 11: 234m @ 0.48% CuEq, including 96m @ 0.87% CuEq and 54m @ 1.18% CuEq ? Hole 12: 566m @ 0.32% CuEq, including 228m @ 0.53% CuEq
SolGold Executive Board Member, Head of Exploration and ENSA President, Mr Jason Ward, commented on the work being advanced at Cascabel: "The TAM target at Cascabel is just 3km north of Alpala, and additional copper and gold mineralisation at TAM will add to the already impressive metal inventory at Cascabel. Drilling results at TAM to date, and preliminary work utilising Leapfrog GEO and EDGE software is revealing a prospective bi-modal resource that appears amenable to both bulk surface mining methods as well as bulk underground mining methods. The potential upside of higher-grade depth extensions beneath TAM is also adding exciting possibilities to the still growing Cascabel project. Geotechnical, hydrogeological and metallurgical data is already being prepared to facilitate the conversion of future resources to reserves, and this seems likely to have a major beneficial impact on the development of the Cascabel property as a whole as studies progress in 2022." [1] Copper Equivalent (CuEq) is currently calculated (assuming 100% recovery of copper and gold) using a Gold Conversion Factor of 0.751 (CuEq = Cu + Au x 0.751), calculated from a current nominal copper price of US$3.30/lb and a gold price of US$1,700/oz. [2] See "Cascabel Property NI 43-101 Technical Report, Alpala Porphyry Copper-Gold-Silver Deposit - Mineral Resource Estimation, January 2021" with an Effective date: 18 March 2020 and Amended Date: 15 January 2021 (the "Amended Technical Report"), filed at www.Sedar.com on January 29, 2021. References to figures relate to the version visible in PDF format by clicking the link below: FURTHER INFORMATION Drilling from the TAM porphyry copper-gold deposit at Cascabel has intersected highly significant copper and gold mineralisation with Hole 13 returning intercepts of over 500m% CuEq. Final assay results from drill holes 8-13 are provided in Table 1. Assay results from drill holes 14-23 are pending and drilling of Holes 24-27 is currently underway. Over 18,500m of drilling has been completed to date at TAM (Figure 2) and a further c.9,200m is planned through the end of the year utilising the existing four diamond drill rigs. The geological character of the porphyry stocks / dykes encountered through drilling to date indicate a well-preserved porphyry system and the full size and strength of the TAM system has not yet been tested. Additional surface geochemical anomalies ("A1" and "A2") to the east of the current drilling area require drill testing for deeper portions of the system (Figure 2). Previous drilling and surface rock-saw channel sampling results at TAM to date revealed near-surface mineralisation amenable to bulk surface mining methods. Hole 13 results enhance potential for significant depth extensions amenable to bulk underground mining methods (Figure 3). Mineralisation at TAM forms a northwest trending corridor, occupying an area approximately 1,200m long, up to 750m wide, and extending from surface to a depth of over 1,200m. The TAM deposit remains open to the south and east and at depth. Hole 24 is currently drilling approximately 160m northwest and 160m deeper than Hole 13 and has encountered intense mineralisation within an early quartz-diorite intrusion from 507m depth. This zone is interpreted as an extension of the strong mineralisation encountered in Hole 13 and includes up to 85% B-type quartz-chalcopyrite veining with approximately 2% visible chalcopyrite and trace visible gold mineralisation (Figure 4). An NI 43-101 compliant Maiden Mineral Resource Estimate is being prepared and is planned for release later in 2021. Figure 1: Location of the TAM, Alpala and Aguinaga deposits at the Cascabel project. Table 1: Selected significant intercepts achieved in drill holes 8-13 at the TAM deposit, Cascabel. Figure 2: Drill Plan at the TAM target, looking down, showing current drill holes 24-27 in red, and planned drill holes in green, over soil Cu/Zn geochemical anomalism. Holes 1-13 display downhole CuEq assay grades. Drill holes 14-23 (black) have assays pending. Surface geochemical anomalies ("A1" and "A2") to the east of the current drilling area require drill testing for deeper portions of the system. Section line A-B corresponds to the centreline of the drill sections provided in Figure 3. Figure 3: Drill Section A-B, looking northwest, with a window thickness of 150m, showing modelled geology and modelled grade shells at the TAM target where Low-, Medium- and High-Grade shells are modelled utilising CuEq cut-off grades of 0.15, 0.3 and 0.45 respectively. Limits of drilling data are indicated by black outline. Figure 4: Selected drill core examples from Hole 24 including visible gold (TOP).
By order of the Board CONTACTS
Follow us on twitter @SolGold_plc Certain information contained in this announcement would have been deemed inside information. ABOUT SOLGOLD The Company operates with transparency and in accordance with international best practices. SolGold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact. Dedicated stakeholders About Cascabel and Alpala Having fulfilled its earn-in requirements, SolGold is a registered shareholder with an unencumbered legal and beneficial 85% interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel concession covering approximately 50km2. The junior equity owner in ENSA is required to repay 15% of costs since SolGold's earn in was completed, from 90% of its share of distribution of earnings or dividends from ENSA or the Cascabel concession. It is also required to contribute to development or be diluted, and if its interest falls below 10%, it shall reduce to a 0.5% NSR royalty which SolGold may acquire for US$3.5million. SolGold's Regional Exploration Drive The Company wholly owns four other subsidiaries active throughout the country that are now focussed on thirteen high priority gold and copper resource targets, several of which the Company believes have the potential, subject to resource definition and feasibility, to be developed in close succession or even on a more accelerated basis compared to Alpala. SolGold is listed on the London Stock Exchange and Toronto Stock Exchange (LSE/TSX: SOLG). The Company has on issue a total of 2,293,816,433 fully paid ordinary shares and 105,125,000 share options. Quality Assurance / Quality Control on Sample Collection, Security and Assaying Primary sample collection involves secure transport from SolGold's concessions in Ecuador, to the ALS certified sample preparation facility in Quito, Ecuador. Samples are then air freighted from Quito to the ALS certified laboratory in Lima, Peru where the assaying of drill core, channel samples, rock chips and soil samples is undertaken. SolGold utilises ALS certified laboratories in Canada and Australia for the analysis of metallurgical samples. Samples are prepared and analysed using 100g 4-Acid digest ICP with MS finish for 48 elements on a 0.25g aliquot (ME-MS61). Laboratory performance is routinely monitored using umpire assays, check batches and inter-laboratory comparisons between ALS certified laboratory in Lima and the ACME certified laboratory in Cuenca, Ecuador. In order to monitor the ongoing quality of its analytical database, SolGold's QA/QC protocol encompasses standard sampling methodologies, including the insertion of certified powder blanks, coarse chip blanks, standards, pulp duplicates and field duplicates. The blanks and standards are Certified Reference Materials supplied by Ore Research and Exploration, Australia. SolGold's QA/QC protocol also monitors the ongoing quality of its analytical database. The Company's protocol involves Independent data validation of the digital analytical database including search for sample overlaps, duplicate or absent samples as well as anomalous assay and survey results. These are routinely performed ahead of Mineral Resource Estimates and Feasibility Studies. No material QA/QC issues have been identified with respect to sample collection, security and assaying. Reviews of the sample preparation, chain of custody, data security procedures and assaying methods used by SolGold confirm that they are consistent with industry best practices and all results stated in this announcement have passed SolGold's QA/QC protocol. The data aggregation method for calculating Copper Equivalent (CuEq) for down-hole drilling intercepts and rock-saw channel sampling intervals are reported using copper equivalent (CuEq) cut-off grades with up to 10m internal dilution, excluding bridging to a single sample and with minimum intersection length of 50m. Copper Equivalent is currently calculated (assuming 100% recovery of copper and gold) using a Gold Conversion Factor of 0.751 (CuEq = Cu + Au x 0.751), calculated from a current nominal copper price of US$3.30/lb and a gold price of US$1,700/oz. See www.solgold.com.au for more information. Follow us on twitter @SolGold plc CAUTIONARY NOTICE Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of the TSX and LSE or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may reinterpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances. This release may contain "forward?looking information" within the meaning of applicable Canadian securities legislation. Forward?looking information includes, but is not limited to, statements regarding the Company's plans for developing its properties. Generally, forward?looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward?looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward?looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management's geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Company to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Company to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward?looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company and its officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis, and where possible aims to circulate all available material on its website. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. SOURCE: SolGold plc View source version on accesswire.com: https://www.accesswire.com/663481/SolGold-PLC-Announces-Cascabel-Exploration-Update--Tandayama-Amerca Dieser Artikel stammt von Rohstoff-Welt.de
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