SOLGOLD PLC
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.
Cascabel project continues to provide spectacular drill hole intersections as CSD‐15‐10 ("Hole 10") intersects strong visible copper mineralisation from 765.0m to the current hole depth of 782.8m.
Hole 10 targets extensions to high‐grade copper‐gold ("Cu‐Au") zones intersected in
CSD‐14‐009 ("Hole 9"). Increasing evidence for a strong T1 target at North West Alpala.
Recent full technical audit and review results in higher predicted drilling reliability.
FURTHER INFORMATION
Drilling of Hole 10 continues, and on 1st March 2015 the hole was at a depth of 782.8 metres.
Hole 10 is being drilled at an azimuth of 260 degrees and an inclination of ‐85 degrees from the same drill pad as Hole 9. A location plan and cross‐section is shown as Figures 1 and 2.
Significant quartz veining and alteration was first encountered in Hole 10 at 668.3m. Drilling has continued within the same mineralised sub‐porphyritic microdiorite intrusion encountered in Hole 9 that produced spectacular high grade intersections, including:
110m @ 1.13 % Cu, and 2.32 g/t Au from 710m, and
420m @ 1.00 % Cu, and 1.34 g/t Au from 1062m.
Strong visible copper mineralisation has been encountered from 765.0m to the current hole depth of
782.8m.
Drilling is expected to continue to intersect strongly mineralised porphyritic diorite in the coming days, as Hole 10 targets extensions around 100m north and northwest of the Upper and Lower High Grade zones intersected in Hole 9.
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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@solgold.com.auWebsite: www.solgold.com.au
Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001
Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000
The mineralisation encountered in hole 10 is located just 60m from the southeastern margin and
300m from the centre of the large T1 target at North West Alpala. SolGold is encouraged by the increasing confidence in the T1 target.
Significant advances in the understanding of intrusion relationships and geometries have been achieved through a recent site project review involving the entire SolGold and ENSA technical team, and Executive Directors of SolGold and management believe future drill hole targets will be increasingly reliable.
Figure 2 shows a scaled cross‐section along the planned Hole 10 path, indicating projected geometries of high grade zones intersected 100m to the south in Hole 9. Images of mineralisation encountered to date are shown in Plates 1 to 3.
The discovery of high‐grade copper and gold intervals at Alpala (particularly in Holes 5 and 9 and recent visual confirmation in Hole 10) confirms the potential for multiple high‐grade zones within the larger mineralised porphyry system at Alpala. These mineralised intervals are already providing an indication for the potential dimensions of high‐grade zones at Central Alpala. Broad dimensions for the currently identified high‐grade target zones are approximately 300m strike length, approximately
100m true thickness (aggregated) over a vertical extent of approximately 1000m. At a specific gravity of 2.7, SolGold has identified a reasonable target of approximately 80 million tonnes at a grade of approximately 2.5% copper equivalent.
The potential economic value to SolGold from the development of these zones is considerable and therefore SolGold's immediate drilling program at Alpala targets the definition of these zones within the broader mineralised Alpala Porphyry system.
Qualified Person:
Information in this report relating to the exploration results is based on data reviewed by Dr Bruce Rohrlach
(BSc (Hons), PhD), the GM Exploration of the Company. Dr Rohrlach is a Member of the Australasian Institute of Mining and Metallurgy who has 27 years' experience in mineral exploration and is a Qualified Person under the AIM Rules. Dr Rohrlach consents to the inclusion of the information in the form and context in which it appears.
By order of the Board Karl Schlobohm Company Secretary
Contacts:Mr Alan Martin
SolGold Plc (CEO and Managing Director) Tel: +61(0) 488 223 828
amartin@solgold.com.au
Mr Nicholas Mather Tel: +61 (0) 7 3303 0665
SolGold Plc (Executive Director) +61 (0) 417 880 448
nmather@solgold.com.au
Mr Karl Schlobohm Tel: +61 (0) 7 3303 0661
SolGold Plc (Company Secretary)
kschlobohm@solgold.com.au
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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@solgold.com.auWebsite: www.solgold.com.au
Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001
Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000
Mr Ewan Leggat/Ms Katy Birkin Tel: +44 (0) 20 3470 0470
SP Angel Corporate Finance LLP (NOMAD and Broker) Ewan.leggat@spangel.co.uk
Richard Greenfield/ Alexandra Carse Tel: +44 (0) 20 7647 2800
GMP Securities Europe LLP (Joint Broker)
richard.greenfield@gmpeurope.com
Mr Dominic Barretto / Ms Anna Legge Tel: +44 (0) 7747 788 221
Yellow Jersey PR Limited (Financial PR)
dominic@yellowjerseypr.com
Follow us on twitter @SolGold_plc
NOTES TO EDITORS
SolGold is a Brisbane based, AIM‐listed (SOLG) copper gold exploration and development company with assets in Ecuador, the Solomon Islands and Australia. The Company's objective is to create substantial shareholder value by discovering and defining world‐class copper‐gold deposits. SolGold's Board and Management Team have significantly vested interests in the Company as well as strong track records in the areas of exploration mine development, investment, finance and law.
Cascabel, the Company's flagship copper‐gold porphyry project, is located in North West Ecuador on the under‐explored northern section of the richly endowed Andean Copper Belt. SolGold owns 85% of Exploraciones Novomining S.A. ("ENSA") and approximately 11% of TSX‐V‐listed Cornerstone Capital Resources, which holds the remaining 15% of ENSA, the Ecuadorian registered company which holds
100% of the Cascabel concession. To date the Company has completed geological mapping, soil sampling programme, 14km2 and 9km2 Induced Polarisation and Magnetotelluric "Orion" survey at the Alpala target and Aguinaga target respectively. Diamond drilling continues.
In Queensland, Australia the Company is evaluating the forward exploration for the Mt Perry, Rannes and Normanby projects. Joint venture agreements are still being investigated with the strategy for the joint venture partner to commit funds and carry out exploration to earn in interest in the tenements.
In the Solomon Islands, SolGold holds three tenements; Kuma, Lower Koloula and Malukuna. Results for the soil and rock sampling program from the Kuma tenement are being interpreted to determine the next stage of exploration.
The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's directors. Such forward‐looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward‐looking statements. Accordingly, you should not rely on any forward‐looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward‐looking statements.
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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@solgold.com.auWebsite: www.solgold.com.au
Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001
Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000
The red outline shows the area tested by Holes 5, 7, 8 and 9, whilst the dashed white outline shows the extent of the Central and Northwest Alpala target (Target T1). Hole 10 is testing for lateral extensions of the high‐grade copper‐gold mineralisation encountered in Hole 9. Holes 3 and 6 have assisted in refining the target area, which will continue to evolve with future drill holes.
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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@solgold.com.auWebsite: www.solgold.com.au
Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001
Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000
(,jso/Gold
CSD-15-01O : Simplified lnterpretative
Cross-Section
Southwest Hole7
Looking Northwest (Section Width +/- 70m)
Northeast
100
100
200
1500m RL
300
v
200
300
.coo San Juan De Lachas Volcanicsl
1000m RL
lntermediate Diorite
CSD-14-007
950m @ 0.40 % Cu
015
Early Diorite
::: --......;..-CSD-15-01O
Current Depth 782.8m
Fluid Flow
0.17 g/tAu Hydrothermal
CSD-14-007
High Grade
@ 0.84 % Cu
QUARTZ-SULPHIDE STOCKWORK ZONE
94m
SOOm RL
0.62 g/t Au i Outer Margins of Intense
Stockwork Veining and
',Cu-Au Mineralisation
Early Quartz-Diorite
0-0.3
1500 0.3-0.5
0.5-0.7
0.7-1.0
100m
(Geometry Projected from
Hole 9 Section)
1.0-1.5
>1.5
SL Om RL --------
Figure 2:lnterpretative drill hole cross-section along the piane of CSD-15-010 looking northwest.
5J Page
So!Gold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (O) 7 3303 0660 Email: info@solgold.com.auWebsite: www.solgoldcom.au
Street address: Leve!27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001
Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000
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SolGold plcUK Company No. 5449516 ARBN 117 169 856 Phone: +61 (0) 7 3303 0660 Email: info@solgold.com.auWebsite: www.solgold.com.au
Street address: Level 27, 111 Eagle Street, Brisbane QLD 4000 Australia Postal address: GPO Box 5261, Brisbane QLD 4001
Registered office: 201 BishopsgateLondon EC2M3AB Phone: +44 20 7861 9000
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