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QUITO - SolGold PLC (LSE:SOLG) announced new drilling results from its Tandayama América deposit at the Cascabel copper-gold project in northern Ecuador, revealing significant copper-gold mineralization near the surface.
The latest results from the company’s wholly-owned project include hole TAD-25-070, which intersected 158.2 meters at 0.64% copper equivalent from 7.8 meters depth, including higher-grade zones of 50.2 meters at 0.70% copper equivalent and 56 meters at 0.86% copper equivalent.
Hole TAD-25-066 returned 125.5 meters at 0.47% copper equivalent from 16.5 meters, including 80 meters at 0.63% copper equivalent from 40 meters depth.
These results extend the known mineralized zones near the surface and along strike, according to the company’s statement. Additional assays are pending for holes 71-74, with results expected in early November.
The Tandayama América deposit is located approximately 3 kilometers north of the Alpala underground reserve within the Cascabel project. SolGold is positioning Tandayama as a potential source of early mill feed for planned processing facilities at Alpala.
"We continue to see a strong run of near-surface results at Tandayama América, reinforcing the importance of this deposit within the Cascabel concession," said Dan Vujcic, Chief Executive Officer of SolGold, in the press release.
The company is evaluating the deposit as part of a staged development approach, beginning with lower-capital, near-surface production that could potentially accelerate cash flow generation.
SolGold stated that drilling of holes 71-74 is currently underway, with holes 72, 73, and 74 showing visual indications of mineralization. The company expects to complete this drilling by the end of October, with additional assay results anticipated between mid-October and mid-November.
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