LONDON (ShareCast) - SolGold's shares advanced after the miner said it encountered significant porphyry copper mineralisation at the Alpala prospect within the Cascabel Project in northern Ecuador.
The group observed pervasive quartz veining and intermediate to strong copper sulphide mineralisation in the upper part of drill hole CSD-13-005.
CSD-13-005 last week reached a depth of 454.7m, moving closer to the planned depth of 850m.
"I have just visited the Cascabel Project, seen the core from drill hole CSD-13-005 first hand and can confirm that it indeed does look very exciting," said Managing Director, Alan Martin.
Following completion of the hole, the company will begin working on drill hole CSD-13-006 which has been sited and ready for mobilisation of the rig.
Shares rose 2.30% to 11.12p at 10:33 on Monday.
RD
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