Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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RNS from 5 December 2023
Recent exploration at the La Florida target, located approximately 3 km northeast of the Cielito target, has led to the discovery of high-grade epithermal quartz vein floats. These veins exhibit visible gold within quartz intermingled with bladed calcite, indicating an ex-posed “boiling zone.” Assay results from rock samples have delivered values of up to 276 g/t Au and 141 g/t Ag, signalling the potential for another Au-Ag bonanza zone. Furthermore, subsequent work has led to the discovery of a 15 m wide zone hosting epithermal quartz veins and a breccia outcrop in the intersection of NE and NW trending geologic structures. Grab samples from quartz veins within the outcrop have yielded assay results of up to 4.15 g/t Au and 3.35 g/t Ag. The close proximity of the La Florida target to the Cielito target high-lights a potential interconnection between these two significant areas.
The Blanca-Nieves Project is strategically positioned approximately 8 km north of the company’s Cascabel Project in northern Ecuador, which features the large Alpala and the Tandayama-America porphyry copper-gold deposits. These Projects are situated on the Northern Andean Copper-Gold Belt.
SolGold is making steady progress toward preparing the new target areas at La Florida for drilling, in alignment with a strategy centred around potential epithermal vein targets. This development aligns with plans to drill for extensions of the veins at Cielito and Quiroz, extending beyond the range of previous historic artisanal mining. Furthermore, SolGold aims to expand the size of the discovery at La Florida, underscoring the company’s commitment to fully realising the Blanca-Nieves Project's potential.
SolGold Founder and Non-Executive Director, Mr. Nick Mather commented on the Blanca-Nieves Project, stating: "I am enthusiastic about the new discovery at La Florida and the potential connection to Cielito. In the coming months, our exploration team will work diligently to define the extensions of the gold-silver quartz structure. Recent outcrop rock chip sampling has unveiled widespread surface gold and soil geochemical gold and silver, further confirming the Project’s extensive epithermal gold and silver precious metal field, covering an area exceeding 80 km2.
The Northern Ecuador Cordillera Occidental trend has already yielded world-class discoveries at SolGold's Cascabel Project and Codelco/Enami's Llurimagua Project. The company holds prospective ground along select segments of this 90 km-long trend."
Secure*
The only thing of relevance in this update is the confirmation that the government is still supportive. All meaningless until they put pen to paper and sign the revised terms of the IPA and thus securing our long term future in country.
Well, just over 3 weeks away now so not long to wait at all.
Scott would not have been bold eneough to say 'EARLY Q1' in an RNS on Dec 14th to then go and miss that deadline by months or several weeks. It's clear that they pretty much completed the PFS back in Q3 but are no doubt waiting for lower inflation numbers before putting it to print.
Breadcrumbs from Scott.
He could have mentioned IPA renegotiation. Which consultancy is completing/reviewing the PFS. Reaffirmed a mid- or end Q1 delivery of PFS.
I would have expected the word "significant" in front of "lower capital costs". Given most are hoping for this to be around $1-1.5bn mark.
Oh well, could have been worse.
Adikt. Not sure you realise you've just agreed with me.
You stated
"life continues as normal"
How right you are, nothings changed.
Thank you for endorsing mine and others views.
At last, you've smelt the coffee
Fort, fair enough. But my point was that a deadline already exists, so we didn't need a new one. Anyway, the sooner it arrives, the better.
Nothing new from the RNS...boring day for SOLG
Addicknt, the deadline is not end of Q1. It's 'EARLY Q1' as quoted by the last RNS released by Scott and co. As below:
From Dec RNS
" Phased Approach Pre-Feasibility Study Progressing Well
- Expected to be released early in the first quarter of 2024"
The PFS is due in the next 23 days. Scott has already said in RNS form that it will be released in 'early Q1' so this update would have needed to 'correct' that previous RNS if anything had changed. So the fact it says 'nears completion' suggests that all is on track as guided.
Feb 14th looms and Scott will be hoping his new PFS brings some love back for SOLG again.
Apart from that... it's business as usual.
Orthern, the deadline for the PFS is end Q1 and that appears to remain unchanged.
Interesting to note no news on a new chairman.
Eloro, I agree with you about the SR, but I guess he's trying to avoid becoming a hostage to fortune.
Thank God for small mercies Add that Scott The Rocks Caldwell remained in Quito given the current unrest there. Commendable!
Alas, nearing completion smacks of needing 2 more quarters to complete. Not sure why the SR end date wasn't mentioned?
My reading of that RNS is it is mainly for the board shuffles…. I agree with Quady, the lack of any expected date or close timeline disappoints.
The other info is extremely vague just filler… we have our exploration team continue doing things at Blanca Nieves.. and we expect them continue to do the things over the course of 2024.. probably just a few people doing basic rock sampling..
Meh… nothing to see here really… we need that PFS..
Some chairs were rearranged in the Exec Boardroom but essentially the ship is still listing and the waves of social unrest are lapping over the deck. Hard to see SOLG as other than a salvage job where we lose even more money.
I am pleased that PFS3 is nearing completion.
However I do think as it's nearing completion that they could have at this stage given us a date or date range.
I imagine this announcement is a response to shareholders requesting an update on the recent unrest. What appears to be clear is that life is continuing as normal for SC and the relevant government agencies.
Eloro, sorry to say the RNS disproves your theory about SC remaining in Canada, and it's good to hear he's having 'productive meetings' with government officials.
Corporate update. Nothing earth shattering, but we are nearing completion of the PFS and the SR is continuing.
I think Scott The Rocks Caldwell has already dropped the decline Bozi when his ineptitude resulted in the SP declining from 40p to 6p+.
I don't have to be negative, solg is already negative. My posts can't make solg any more negative than it already is. I never get when folks accuse others in a situation where nothing about the company is currently positive!? Perhaps I will be positive, post positive comments when something positive happens to solg. Until then, I will comment on what I am seeing. If it sounds negative, that because its a commentary on the current negative state of solg and its useless ceo.
Aquinaga, just a thought.
Bearing in mind how you like to rell us that you and mather are chummy. Not sure how often you both catch up.
I was just wondering if he's mentioned to you anything about him putting up shares as security.
Leading with more weekend negativity again Eloro with a final sentence to cover all bases.
I'd quite like you to be right in a way. Get Cascabel to a status where someone can walk in, drop a decline and some infrastructure and be into ore in a couple of years.
If they don't buy in 2024 then they could very well be forced to pay double in 2025. The macro should only really improve from here.
The current situation with solg feels like watching a train wreck in slow motion. I would not be surprised to read that Scott The Rocks Caldwell decided to stay on in Toronto after Xmas. I have resigned myself to more of the same disappointment for the next year. I would however be open for something positive happening.
Is see the bogf offer is still running!
Post a message get a green box galah free!
Sad little runt of the flock.
Covgaz, I am no expert on illegal mining. However, I think that the guy had his mates digging illegally and selling the gold. He wasn't acting to protect the environment. He was just clearing the deck so that he could dig without the owner around.
Aquinaga. I refer you to sh 1501 post.
read it and reflect.
note also the recommends he received.