AGUINAGA, CASCABEL - Solgold Plc [2nd target, awaiting assay results]
6 June 2018 Announcement or RNS - "Continued Growth at Alpala & Aguinaga"
Link:
www.solgold.com.au
Quote:
"Aguinaga drilling building potential for SECOND porphyry deposit at Cascabel, as SolGold continues drill testing of 2 out of the 5 targets identified at Aguinaga."
"Aguinaga Holes 1 & 2 assay results have thus returned:
218m @0.45% Cu Eq [incl 122m @0.52% Cu Eq]
58m @0.58% CuEq Open at depth. FINAL ASSAY RESULTS PENDING."
"The mineralisation intersected at Aguinaga thus far has SIMILARITIES to that discovered at surface in rock saw channel samples that returned an open ended, rock saw channel sample of 9m @ 1.51% CuEq [1.01%Cu, 0.79g/t Au].2
"Solgold geologists believe that the first 2 holes at Aguinaga CONFIRMS the potential for a 2nd large porphyry deposit at Cascabel, demonstrating a vertical column to the mineralising system of more than 600m and a width of appox 320m thus far."
"The source mineralising intrusion has YET TO BE ENCOUNTERED."
<>NEWCREST owns 14.54% of Solgold [shareholder] and Mr Craig Jones sits on the Solgold board. Mr Jones is a Mechanical Engineer and is currently Executive General Manager of WAFU GOLPU [Newcrest-Harmony JV]. Mr Jones was also General Manager CADIA VALLEY operations. Prior to joining Newcrest, Mr Jones worked at RIO-TINTO. [From the same Solgold Announcement as above]
*****SOLGOLD CORPORATE PRESENTATION, Mar 2018: "Cascabel-Towards a World Class Copper - Gold Development]*****
Link:
www.solgold.com.au/presentations/
Page 4: " Andean copper belt is a prolific copper producer- 48% of the WORLD*S COPPER Pacific Rim of Fire."
" PROXIMITY to a 982 Mt Cu-Mo Porphyry system [JUNIN],
3.5BT COBRE PANAMA."
Page 12: MAP-Andean Region
Top: "COBRE PANAMA: 3270Mt @ 0.36% Cu"
Middle: "Cerro Colorado -1300Mt @ 0.76% Cu
Middle: "La Colosa 904.8Mt @0.925 Cu
Cascabel: "Est agg targets up to 10Bt @0.67% Cu & 0.81% Au [1.38Cu Eq]
Junin: "982Mt @0.89% Cu"
***************COBRE PANAMA 3.5BT @ 0.36% Cu****************
"First Quantum turning Cobre Panama into true copper giant." Mining.com, Jan 29, 2014
Link:
www.mining.com/first-quantum-turning-cobre-panama-into-true-copper-giant-58323/
"Vancouver based First Quantum said production should come in at roughly 320,000 tonnes copper a year, up 20% from plan laid out by Inmet, a co Quantum first took over in a hostile $5 billion deal in Mar last year."
The said article also mentioned that First Quantum was a $12 billion co listed in London & Toronto.
<>"First Quantum to kick off massive $5.48 billion copper mine in Panama in just months."-Mining.com, May 18,2017
"..would spend close to $1 billion this year to advance construction of the project, invest further $830m next year and $110 million in 2019 when the mine is expected to reach full capacity of 320,000 tonnes annually. "
"Panama will also reap the benefit from the operating mine, as it is expected to GENERATE $2 billion worth of exports in its 34 years of life. That a/c to Christies, is equivalent to around 4% of the Central American*s GDP."
"COBRE PANAMA is already generating some benefits to the country*s economy and it is creating 7,000 jobs during construction and will employ 2,500 people once in operations, the co said."
[If any of the articles has a faulty link, please put the title into the search engine]
Comment:
Further to forum chatter, the above is from empirical information that is insightful.
Sol1, Wed 13 June 2018 Please check as there can be typo errors. DYOR.
(20min delay)
