- Write by:
-
Wednesday, October 7, 2020 - 10:00:41 PM
-
708 Visit
-
Print
Mining News Pro - Solgold’s stock jumped 10% on the TSE on Tuesday after the company released update on the Blanca project in Equador.
According to the miner, drill rig arrived at Cerro Quiroz, as crews prepare to recommence drilling at the project, located approximately 8km northeast of SolGold’s flagship Alpala deposit.
BDH-20-003, the third hole at Blanca will test the central portion of the Cerro Quiroz dome target, characterised by an extensively silicified topographic dome containing quartz vein and quartz-stockwork veining that returned rock assay results of up to 6.8g/t Au, SolGold said in a press release.
Previous drill holes 1 and 2 at the Cielito target encountered thin intersections of gold bearing quartz veins. Drilling was put on hold and the hiatus continued throughout the duration of covid-19 restrictions.
The company plans to re-drill this target in the future, however drilling activities will focus on the Cerro Quiroz target for time being.
The Blanca project lies on the prolific Andean Copper belt which is renowned as the production base for nearly half of the world’s copper.
The miner also released on Monday an update on the Porvenir project in Southern Ecuador, some 100 km north of the Peruvian border.
According to Solgold, drilling commenced at the Cacharposa target on 15th September as part of a planned 8,000m initial drilling program. The initial drilling program is part of a larger 16 month 50,000m planned drilling program at Porvenir, up to December 2021.
PDH-20-001 has so far intersected over 644m of visual copper sulphide mineralisation, hosted by potassium-rich intrusions. Visible copper sulphide mineralisation has been observed from 15.9m to the current depth of 660.3m.
“These targets are covered by granted tenure, throughout the 700km length of three parallel and under-explored metallogenic copper-gold belts in the Ecuadorean sector of the prolific Andean Copper Belt. Ecuador could grow to become a major player in global copper and gold markets, and SolGold will be at the core of that objective.” said Solgold CEO Nick Mather.
The company has a C$1.3 billion market capitalization.
Short Link:
https://www.miningnews.ir/En/News/605904
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Canadian miner First Quantum Minerals (TSX: FM) believes it will be able to take the already mined 121,000 tonnes of ...
Canadian miner First Quantum Minerals said on Tuesday that it has cut its debt by $1.14 billion in the first quarter.
Chile is expected to produce a record 5.8 million metric tons of copper in 2025, the state-run Chilean Copper Commission ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
No comments have been posted yet ...