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Share Price Information for SolGold (SOLG)

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Share Price: 23.35
Bid: 23.25
Ask: 23.40
Change: 0.70 (3.09%)
Spread: 0.15 (0.65%)
Open: 23.05
High: 23.90
Low: 22.75
Prev. Close: 23.35
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IN BRIEF: SolGold gives resource estimate for Tandayama-America

Tue, 19th Oct 2021 19:29

SolGold PLC - miner - Provides maiden mineral resource estimate for the Tandayama-America porphyry copper-gold deposit at the Cascabel project in Ecuador, at 233.0 million tonnes at a grade of 0.33% copper equivalent containing 530,000 tonnes of copper and 1.2 million ounces of gold in the indicated category.

Meanwhile, the inferred category contains 197.0 million tonnes at 0.39% copper equivalent containing 520,000 tonnes of copper and 1.24 million ounces of gold.

Drilling will continue and an update to the resource base is planned.

"The TAM deposit adds further copper and gold mineralisation to Alpala's large metal inventory at the Cascabel project. The resource offers optionality and the potential to generate economic ore earlier which will complement the high-grade Alpala underground ore," says Interim Chief Executive Officer Keith Marshall.

"The maiden MRE is based on assays from the first 18 holes. Drilling has continued at the TAM deposit during the estimation process and visual mineralisation from holes 19-30 suggest potential for future resource growth in the southeast quarter of the open pit optimised shape and particularly in the east and southeast depth extensions of the underground optimised shape where the highest grade mineralisation encountered thus far remains open," Marshall adds.

Current stock price: 27.62 pence

Year-to-date change: down 15%

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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