SolGold announced the results of a maiden resource estimate for the Alpala deposit at its 85-percent-owned Cascabel copper-gold project in Ecuador.
The Resource Estimate across both Indicated and Inferred classifications totals a current 1.08 Bt @ 0.68% CuEq (7.4 Mt CuEq) at 0.3% CuEq cut off, some 40% of which is in the Indicated category (by tonnage).
Contained metal content totals a current 5.2 Mt Cu and 12.3 Moz Au, some 45% of which is within the Indicated category (by contained metal).
11 diamond drill rigs are currently active at the site, with a total of 12 to be active in January 2018. Over 120,000 metres are planned in 2018.
Nick Mather, CEO and managing director at SolGold, commented:
”This maiden Mineral Resource Estimate (MRE) is a tremendous start and in our view by no means represents a final size or grade because the deposit is still growing. That the maiden MRE is so big, achieved with so few drill holes and that such a large percentage is in the indicated category is testimony to the size of the system at Alpala”.