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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."
''Since the bottom in February our fund’s AUM (assets under management) grew by 11 million euro, due to a very strong recovery in commodity related stock prices …
This walks, talk and looks like the start of a very strong new bull market in commodities, after a 13 year bear market
Copper, uranium, gold and silver all show break out patterns, while lithium and nickel are showing signs of a first recovery after bottoming out''
(8:06 PM · Mar 15, 2024)
https://twitter.com/wmiddelkoop/status/1768730612976812484
SOLG have to at all costs avoid a HZM scenario ie expose the company's shareholders to a creditor who at some point in the future should liquidity dry up simply call-in the debt and take control of the company using some form of Debt 4 equity swap
SOLG have to avoid debt at all costs..dilution over debt is a must
'Another project that is underway is Cascabel, managed by the company Sol Gold. Regarding this concession, the company completed the issue of its pre-contractual phase and is now going to a change of phase. In the next month or two months the project will be signed as such.'