SolGold (SOLG.L) never disappoints as even though its share price has been under some pressure, the exploration results are still rolling in. We can actually be pretty short about anything SolGold releases as it’s usually ‘more of the same’; long, multi-hundred meter intercepts with good copper and gold grades which are confirming the presence of a huge mineralized body.
At Alpala Central, Hole 23R-D1 contained almost 700 meters at an average grade of 0.72% copper and 1.02 g/t gold from a down-hole depth of 695 meters. This extended the known mineralization by an additional 90 meters towards the east and this drill result was followed up with hole 28 which intersected almost 940 meters at 0.82% copper-equivalent, including 550 meters containing in excess of 1% CuEq.
At Alpala northwest, Hole 26-D1 also was a huge success after intersecting almost 750 meters at 0.85% CuEq including a long interval of in excess of 500 meters at 1.05% CuEq. What’s important is that these two holes each intersected mienralization 100 meters towards the northeast and the southeast edge of the currently known mineralization.
As SolGold continues to be extremely successful at Cascabel, it has sourced two additional drill rigs (to bring the total to 12) which will enable the company to drill 126,000 meters in 2018 in an attempt to (finally) define the limits of the mineralization. As Ecuador is becoming increasingly pro-mining, the question isn’t ‘if’ SolGold is a buyout target, but ‘when’ SolGold will be acquired by a major player in the hard commodities sector.