Solgold receives encouraging results from the Cascabel project

27th Oct 2014 16:59

Solgold, the South America-focused miner, said it had received encouraging results from the Cascabel copper-gold porphyry project in Ecuador.The firm said drill hole 8 at the site was completed and encountered notable copper sulphides from 367.1 metres to 680.8 metres and at 908.8 metres to 1,310.5 metres, while hole 9 at Cascabel is due to start in November and the final processing on the Orion 3D "Deep Earth Imaging" process is nearing completion."We are encouraged by the visual results from Hole 8 which indicate the widespread nature of the mineralisation at Alpala," said Alan Martin, group's chief executive officer and managing director.On Monday, Solgold shares closed down 4.76% to 5.00p.