- Write by:
-
Thursday, December 20, 2018 - 4:08:02 PM
-
977 Visit
-
Print
Mining News Pro - Newcrest has upped the ante with its latest share grab of Ecudaor’s junior miner SolGold. Australia’s top gold miner now owns 15.33%. SolGold’s second largest investor is BHP with 13.83%.
According to Mining News Pro - SolGold is a leading exploration company focusing on the discovery and definition of world-class copper and gold deposits. Miners all over the globe are stepping up their exploration for copper – forecast to see increased demand thanks to the ongoing EV revolution amidst the switch to renewable energy which requires such metals to deliver efficient power transportation.
Against the backdrop of last year’s copper pipeline slowdown (when production trailed consumption by 175,000 tonnes) SolGold’s Cascabel copper project is one of few expected to come online in the near future to help buck the trend.
Ecuador has been taken more seriously as a mining investment destination in the past two years, due to revised regulatory and fiscal frameworks, and a major investor engagement campaign attracting over 400 applications for concessions this year.
The Cascabel Project is located on the northern section of the prolific Andean Copper belt, renowned as the base for nearly half of the world`s copper production. The project area hosts mineralisation of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte in northern Ecuador, approximately three-hour`s drive north of Quito, close to water, power supply and Pacific ports. SolGold holds an 85% registered and beneficial interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel tenement.
SolGold is encouraged by recent drilling results, expected to further expand and enrich the existing resource base at Alpala. The Company is also excited about notable drill hole results outside the previous resource area which promise further growth for the 2019 drilling campaign ahead.
Alpala has produced some of the greatest drill hole intercepts in porphyry copper-gold exploration history, as exemplified by Hole 12 (CSD-16-012) returning 1560m grading 0.59% copper and 0.54 g/t gold including, 1044m grading 0.74% copper and 0.54 g/t gold.
Short Link:
https://www.miningnews.ir/En/News/317243
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
South African diversified miner Sibanye Stillwater is discussing with lenders to temporarily lift limits on borrowings, ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Copper output in Chile, the world’s largest producer of the metal, edged down in March, data from copper commission ...
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple ...
Africa-focused Montage Gold announced Thursday it has received a ministerial order granting all environmental approvals ...
Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant ...
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
No comments have been posted yet ...