Ann: Exploration Update, page-112

Ha! I'd say this applies to BBX as well. One of the many reasons why BBX's extremely high grades comprehensively derisk the project....

The SolGold CEO reckons their “extraordinary” high grades would enable a “low capital, quick, highly profitable development”.

Their grades: 1.5% copper equivalent. That's about 2g/t!    BBX's avg. grade is 40.5g/t at the moment.


SolGold CEO: High grades deliver independence

High copper and gold grades of the Alpala deposit are providing dual-listed SolGold with a level of independence in the development of the larger Cascabel project, in Ecuador, CEO Nicholas Mather said on Friday.

Responding to critics saying that Brisbane-based SolGold is too small to fund a project the size of Cascabal, he said in the company’s annual report, that the “extraordinary” high grades in the core of Alpala and the expected high grades in the nearby Blanca gold project would enable a “low capital, quick, highly profitable development”, which would provide “much of the capital required” for the Cascabel development.

“We are working on a conditional total funding package, which involves agreement of the funding parameters with financiers and offtakers now, at prearranged prices related to the net present value (NPV), rather than the share price and conditional only on the delivery of firstly, a feasibility study, secondly, appropriate permits, and thirdly, the necessary fiscal arrangements with the Ecuadorian government. That way the market and the industry will be able to see that the project is substantially derisked from an early stage,” Mather said.

SolGold is looking at starting in very high grades and gradually ramping up into a 40-million-tonne-a-year block cave at the high grade core grades of 1.5% copper equivalent.

However, the size of the deposit continued to expand with the completion of “nearly every drill hole”. Recent drilling confirmed the core of the deposit to have uninterrupted true dimension of up to 750 m vertically, 700 m long and 300 m wide, at a cutoff grade of 1.5% copper equivalent.

http://www.miningweekly.com/article...s-deliver-independence-2018-09-28/rep_id:3650