20141204

Cascabel Exploration Update

JOURNAL NAME: Journal of Global Research Computer Science and Technology (JGRCST)

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ISSN NO.: 2349-5170

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Cascabel Exploration Update

Final IP Interpretations and Outcropping Copper Mineralisation Support Robust Porphyry Target at Southeast Alpala

                                                                                 4 December 2014
The Board of SolGold (AIM code: SOLG) is pleased to provide the following exploration update for the Company’s Cascabel copper-gold porphyry project in Ecuador.
HIGHLIGHTS:
  • Final electrical geophysical models (resistivity and chargeability) for Orion 3D Induced Polarisation (“3DIP”) and magnetotelluric (“MT”) surveys strongly validate target T2 at Southeast Alpala;
  • Target T2 lies in the hanging wall to the Alpala Structural Zone, and comprises deep magnetic anomalies with strong electrical conductive responses around the upper parts of the anomaly;
  • The core of the T2 target has dimensions of 600m by 300m, within a broader target area of 800m by 600m;
  • Mapping at the T2 target at Southeast Alpala discovers chalcopyrite, bornite andchalcocite copper sulphide mineralisation in lithocap outcrops in Quebrada Malteand Rio Cristal;
  • IP data at T2 target consistent with magnetic vector inversion (“MVI”) and geological datasets, indicating both magnetic and IP models are robust;
  • Market update on the Aguinaga porphyry target will be made as soon as possible;and
  • Hole 9 at 1298.42m depth (3 December) and intersecting strong visual copper sulphide mineralisation. An interval of 845.97m of visible copper mineralisation
Commenting on today’s update, SolGold CEO and Managing Director, Alan Martin said:
  “The clear definition of robust porphyry copper‐gold targets along strike to the Northwest and Southeast of the Central Alpala Zone, strongly supported by geological, geophysical and geochemical datasets, gives the Company multiple targets to test along the potentially richly-endowed Alpala Structural Zone (ASZ). The validation and refinement of targets is testament tothe high prospectivity of the 3 kilometre long ASZ corridor, and also to the SolGold technical team who have been collecting and integrating the exploration data at Cascabel”.
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