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SolGold has given an update on its Porvenir exploration project in Ecuador, held by company subsidiary Green Rock Resources SA.
SolGold (TSX:SOLG,LSE:SOLG,OTC Pink:SLGGF) has given an update on its Porvenir exploration project in Ecuador, held by company subsidiary Green Rock Resources SA.
Highlights from the press release are as follows:
Continued first pass mapping and sampling by GreenRock field teams at Target 15 in the Porvenir Project has extended the porphyry copper-gold mineralisation at the Cacharposa Creek, located on the Porvenir 2 concession.
Results from additional rock saw sampling along the Cacharposa Creek has extended the mineralised intercept to:
- 147.83 meters at 0.64 percent copper equivalent (0.43 grams per tonne gold, 0.37 percent copper). This intercept is open-ended.
- Including 82.63 meters at 0.96 percent copper equivalent (0.71 grams per tonne gold, 0.55 percent copper).
The additional mineralisation in the Cacharposa Creek continues to display similar characteristics to Alpala, Cascabel with gold:copper = 1:1.
Mapping and sampling of the Mula Muerta Creek on the northwest side of the ridge from the Cacharposa Creek has discovered similar mineralisation. Both areas are believed to be part of the same mineralised system.
Nick Mather, SolGold CEO, commented:
“The latest progress at Porvenir is indicative of the effort SolGold puts into its first mover advantage secured in 2014 across Ecuador. SolGold’s team of geoscientists led by Dr. Steve Garwin, porphyry expert, recognised several targets with the right geochemical, geological and geophysical signature and we have so far secured eleven of them. SolGold is committed to leading the development of a sustainable copper-gold mining industry in Ecuador. The high grades and strong gold endowment at Alpala and Porvenir provide us with a unique opportunity to develop this company without joint ventures.”