StockMarketWire.com - SolGold [LON:SOLG] has revealed further copper mineralisation at the Cascabel project in Ecuador.

Highlights:

- Drill Hole CSD-16-018 (Hole 18), is at a depth of 1829.7m, extending the rich lower portions of the Alpala deposit, and confirming the deepest mineralised intrusive body discovered at the project to date. Drilling continues towards a planned depth of 2300m. Hole 18 has intersected visible copper mineralisation from 903.9m depth to current depth, including a 330m intersection of exceptionally intense quartz - copper sulphide veining, up to 45% of the rock mass, from 1179.7m to 1509.3m.

- Drill Hole CSD-16-019 (Hole 19), at a current depth of 727.9m. Drilling intersected strong visible copper mineralisation from 473.1m depth, which continues at current depth. Bornite, a 64% copper sulphide mineral, occurs from 668m depth in hole 19. Bornite is an important metal that raises mill concentrate grades significantly. Hole 19 confirms the shallowest mineralised intrusive body discovered at the project to date, and extends the upper portions of the Alpala deposit above holes 12 and 16. Drilling continues to the planned depth of 1600m.

- Drill Hole CSD-16-020R (Hole 20R), is at a current depth of 676.7m, as drilling passes through hydrothermal breccias and volcanic rocks towards the deepest richest portion of the Alpala Deposit, some 600m below known mineralisation.

- Mobilisation of additional, large, track mounted, deep hole directional Sandvik DE880 top drive drilling rig (rig 4) has been initiated. Engineering and building of a third, custom, deep hole directional man-portable Hydracore drilling rig (rig 5) with depth capabilities up to 2600m is under way.

-Independent technical report on the Cascabel Project is in preparation under National Instrument 43-101 and accompanying Documents 43-101F1 and 43-101CP by SRK Exploration in preparation for listing on the Toronto Stock Exchange (TSX) in early 2017.

SolGold says 14 different targets have been defined at Cascabel but drilling has only taken place at one of them, the Alpala deposit which continues to grow with each new hole. The latest results extend the rich lower portions of the deposit and confirm the deepest mineralised intrusive body discovered at the project to date.


At 4:17pm: [LON:SOLG] SolGold PLC share price was +2.75p at 24p



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