SolGold makes more finds in Ecuador but shares fall

16th Dec 2013 13:33

SolGold has found more deposits at its Cascabel copper-gold project in northern Ecuador, but its shares fell after it said some of the find was lower grade.SolGold said one of the drill holes at its Alpala prospect at Cascabel, CSD-13-005, continued to come across strong copper sulphide porphyry mineralisation at depth.But it said final assay results from another hole, CSD-13-003, had confirmed expected peripheral, lower grade halo-style mineralisation.The company's General Manager of Exploration, Bruce Rohrlach, sounded an upbeat note, saying lower grade copper halos were common around the margins of large copper-gold systems.He said it was "further evidence for our confidence in the potentially large size of the Alpala copper-gold porphyry system".Shares in the group fell 0.7p to 8.42p at 13:42 in London.PW