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SolGold Plc. (TSX:SOLG) – Notable News

September 13, 2021

SolGold Plc. (TSX:SOLG, BUY, C$1.90 target, Timothy Lee) provided an exploration update at its 85%-owned Cascabel project in Ecuador. The company reported assays from several holes that targeted the Tandayama-Ameríca (TAM) porphyry Cu-Au deposit, located 3km north of the Alpala deposit – one of the largest undeveloped copper projects globally, with M&I resources of 2,663 Mt at 0.53% CuEq. Hole 13 returned some of the best intercepts at the TAM deposit to date, having intersected 0.55% CuEq over 1,010m, including 0.69% CuEq over 736m and 1.09% CuEq over 132m. Other highlights include: 0.48% CuEq over 234m (Hole 11), and 0.32% CuEq over 556m (Hole 12). Over 18,500m of drilling has been completed thus far at TAM, and a further ~9,200m is planned by year-end using the four rigs currently on site; several assays remain pending. In our view, these are excellent results, as they have encountered solid grades over favourable, bulk-tonnage mining widths. Further, drilling has delineated a NW-trending corridor, occupying an area that is 1.2km long, 750m wide, and 1.2km depth from surface. Drilling is expected to feed into a maiden mineral resource for TAM, slated for release later this year. Read more

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