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Blanca-Nieves Project Update - Outcrop results 6.15m @ 7.46 g/t Au
SolGold (LSE & TSX: SOLG) is pleased to provide an update on the Blanca-Nieves Project ("Project"). SolGold holds a 100% interest in the Project through its Ecuadorian subsidiary, Carnegie Ridge Resources S.A.
· Exploration identified a significant porphyry target at El Cielto Norte covering approximately 2.5 x 2.5 km and is greater in extent than the Alpala system to the south at the Cascabel Project
· At Florida, new assays from channel samples of gold-bearing epithermal quartz vein outcrops with up to 6.15m true thickness, returned results of 6.15m @ 7.46 g/t Au, including 2.2m @ 21.1 g/t Au
· Advancing new target areas towards drill-ready status
· Potential for future integration of Blanca-Nieves with the Tier 1 Cascabel Project, due to the proximity of approximately 8 km
Santiago Vaca, SolGold's Chief Geologist, commented:
"Our team is excited about the overall prospect of the Blanca-Nieves Project, including the potential for future integration with the Cascabel Project. The district scale opportunity reinforces our view that mining has the potential to be a significant, multi-generational sector in Ecuador."
Nice grades 7.16%
This is the bit which will interest the Majors:-
Potential for future integration of Blanca-Nieves with the Tier 1 Cascabel Project, due to the proximity of approximately 8 km
Ah so, the Chinese cheque book grows fatter and fatter
I really wouldn't pay much attention too these reported grades, they weren't obtained by drill cores and as such will be a fraction of what's reported here today.
We still await the strategic review and funding package, which will be far more interesting.
The news regarding the exploration and potential of Blanca Nieves is not new news.
The key word today is integration.
They have simply announced that Blanca Nieves will be integrated with Cascabel which will be included in the agreement to fund or sell the Cascabel package.
Next news funding.
Keep an eye out for Hannam's report due today or tomorrow.
Wake me up when we are 60p+
That's a very exciting update on Blanca-Nieves and bodes well for the other areas surrounding Alpala. It's not exactly full on drilling... but it's enough to move it on a level from the pick axe rock chip sampling. Just imagine what you could have achieved Scott if you had drilled this 12 months ago???? Mmm.
Newcrest cited many moons ago that they thought SOLG needed to explore more around Alpala as they believed the 'core' hadn't been found and may lie else where eg higher grades, shallow opportunities.
This is a firm message to those in the data room that if they hang about for too long kicking tyres, then they'll soon find the assets grown in size and value well beyond what it was when the data room first opened.
The reality is... Alpala is huge already... but it's clear that the surrounding areas just make it an all time monster sized discovery and probably one the largest in the last 20 years.
So more 'insider' news is released... if that's all of it... then we should be good to go with the news that the market has been waiting for. That's coming before end of March imho.
Bob's in firm 'ramp' mode now which bodes well.
So if that Cascabel perimeter has expanded to now include the nearby Blanca Nieves - does the 3,2B funding commitment also cover future work at Blanca Nieves
Good to hear you sounding so bullish, Fort.
I was just thinking about the multitude of explorers out there who produce very average/poor grades over relatively small areas and yet attract huge degrees of investment excitement. And here we are with something truly historic and yet we have a market cap of £250m. It's utterly absurd.
Add
It's all in the funding..the market wants to know where the liquidity is coming from and in what form
Schlem, yes, of course you're correct, but the information which emerged in the TR stated that funding is available. This seems to have been roundly ignored.