(Alliance News) - Exploration firm SolGold PLC on Wednesday said sampling at its Timbara project in southern Ecuador returned high grade base metal and gold.
Results from initial rock saw channel sampling at the Timbara 2 zone include 7.7 metres at 6.63 grammes of gold per tonne of ore and 3 metres at 6.16 grammes per tonne - both at the northern stream outcrops.
"Mineralisation mapped over a 600 metre strike length demonstrates strong gold grades and remains open in both directions at Timbara 2," SolGold said.
This mineralisation is found in an 18 metre wide zone, trending northwest, which hosts veins of polymetallic quartz.
Like the nearby Fruta del Norte, Santa Barbara, and Mirador deposits, Timbara "is of Jurassic age".
"Field teams are continuing with clearing to create additional outcrop exposures for further mapping and sampling," SolGold said.
Shares in SolGold were up 0.5% at 18.09 pence in London on Wednesday morning.
By Anna Farley; annafarley@alliancenews.com
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SolGold (SOLG)