We are finding a lot more high grade intersections outside the current resource model for Alpala. The takeaway is that extra high grade resource tonnes will have a significant and positive impact on value
IRR news
Approximately 7,000m Reverse Circulation ("RC") and Diamond ("DD") drilling planned for up to 60 holes over two phases expected to commence late April to early May.
Please mama, all the kids are moving and behaving very well, move your bottom .... now
Cascabel Exploration Update
Further High-Grade Extensions at Alpala Copper-Gold Porphyry Deposit and Aguinaga Drilling Reveals Increasing Potential for Second Large Porphyry Deposit at Cascabel
The Board of SolGold (LSE and TSX code: SOLG) is pleased to provide an update on the drilling programs at Alpala and Aguinaga, at the Company's Cascabel project in Northern Ecuador.
HIGHLIGHTS:
Ø Drilling at Alpala continues to extend the high-grade mineralisation (which is expected to also extend the high grade resource) along the southwestern margin of the Alpala Central Deposit, as indicated by Hole 42, from which partial assay results have thus far returned 846m @ 1.02 % CuEq, including 504m @ 1.28 % CuEq, both open at depth and awaiting remaining assay results.
Ø Infill drilling within the high-grade core of the Alpala Central Deposit is expected to significantly increase the high-grade resource tonnage, as shown by Hole 43 (974m @ 0.71% CuEq, including 478m @ 1.02% CuEq), and Hole 41-D1, which has thus far intersected approximately 688m of visible chalcopyrite mineralisation from 1003.8m depth (drilling continues and assay results pending).
Ø Extension drilling at Alpala Northwest continues to intersect strongly mineralised extensions, as indicated by Hole 37 (842m @ 0.44% CuEq), and Hole 37-D1, which has thus far intersected approximately 450.3m of abundant visible chalcopyrite mineralisation from 1309.4m depth (drilling continues).
Ø Trivinio drill testing scheduled to commence within a week.
Ø Aguinaga first drill hole (AGD-18-001) confirms the potential for second large porphyry deposit, having intersected approximately 373.4m of porphyry style veining and visible chalcopyrite and mineralisation from 295.3m depth.
Ø Aguinaga second drill hole to test depth extensions under AGD-18-001.
Commenting on progress, CEO Nick Mather said: "The drill program is proceeding according to plan. We are finding a lot more high grade intersections outside the current resource model for Alpala. The takeaway is that extra high grade resource tonnes will have a significant and positive impact on value. Allowing for this, and with what we believe to be a unique set of logistical advantages compared to many "high and dry" Chilean projects, increasing high grade mineralisation, the discovery at Aguinaga, and the increasing demand and price for copper and gold, the upside in this project is very exciting."
The Cascabel Project is located on the northern section of the prolific Andean Copper belt, renowned as the base for nearly half of the world's copper production. The project area hosts mineralisation of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte in northern Ecuador, approximately three hours drive north of Quito, close to water, power supply and Pacific ports (Figure 1). Having fulfilled its earn in requirements, SolGold is a registered shareholder with an unencumbered legal and beneficial 85% interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel tenement covering approximately 50km2.
Approximately 100,000m of diamond drilling has been completed on the project to date. Currently, 12 drill rigs are active on site, with 11 rigs drilling on the Alpala cluster (Figure 2), and one drilling at the Aguinaga prospect (Figure 3). The Cascabel drill program for 2018 comprises over 120,000m of planned drilling focussing on extending and infilling the Alpala Resource, as well as further drill testing of the Aguinaga prospect. Numerous other untested targets remain, namely at Trivinio, Moran, Cristal, Tandayama-America and Chinambicito, some of which will also be drilled in 2018.
Drill testing of the Trivinio target is scheduled to commence within a week with Hole 54, and is further supported by the proximity of the mineralisation encountered in Holes 37 and 37D1.
Lithium Project Update, Ghana, West Africa
Earthworks Commenced - Paving Way for Maiden Drill Programme
IronRidge Resources Limited (AIM: IRR, 'IronRidge' or the 'Company') is pleased to provide an update on its lithium portfolio in Ghana, West Africa. Necessary approvals have been received and earthworks commenced for drill access and drill pads over the Ewoyaa pegmatite deposit.
HIGHLIGHTS:
Ø Approvals received and earthworks commenced for drill access and drill pad construction.
Ø Approximately 7,000m Reverse Circulation ("RC") and Diamond ("DD") drilling planned for up to 60 holes over two phases expected to commence late April to early May.
Ø Ewoyaa pegmatite geology re-interpreted with benefit of 32 trenches and 428 pits dug resulting in detailed, high-confidence surface geology map; three well defined pegmatite zones with a combined 1,600m strike and the largest single pegmatite over 800m long and up to 90m wide at surface.
Ø Previously reported high grade lithium results at Ewoyaa from surface trenching including 65m at 1.1% Li2O, 25m @ 1.62% Li2O, 18m @ 1.67% Li2O and 4.5m @ 2.2% Li2O.
Ø Forest Entry permit successfully renewed and exploration license application submitted over Egyasimanku Hill; field teams on site and mapping underway.
Ø Historical Geological Survey maps recovered for Egyasimanku Hill and facilitating field mapping.
Ø Orientation study confirms robust lithium anomaly in soils over Ewoyaa; laboratory assay results repeatable using hand held SciAps Z300 lithium analyser.
Ø Large-scale regional 100x100m grid, 15,000 sample soil programme commenced over Cape Coast Lithium Project portfolio.
Ø Reflex PRESS tool and SciAps Z300 hand held lithium analyser purchased; providing effective real time indicative lithium results at significantly lower cost for the regional soils pro
DGR Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
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