SolGold upbeat on recent exploration at Coangos in Ecuador

(Sharecast News) - SolGold updated the market in its exploration activities at the wholly-owned Coangos Project in southeastern Ecuador, held by its subsidiary Cruz Del Sol, on Friday, reporting that initial geochemical sampling had identified four anomalous areas in the in the Coangos 2, Chimius and Chimius 2 tenements.The London-listed firm said two areas of mineralised outcrop had been identified in anomaly 1.It also reported a high-grade fault breccia, located in anomaly 2, had been mapped over 200 metres in length and one metre wide, and remained open in both directions.Coangas was now the 12th 100%-owned priority project in SolGold's regional exploration base."The strong anomalism in the area, previous works by BHP and the extent of the Coangos system on the well endowed Jurassic Belt, also host to the Fruta del Norte and Mirador projects, both in development by third parties indicate very high potential for a major copper gold porphyry project in the broader tenement area," said SolGold's exploration and Ecuador country manager Jason Ward.