SolGold PLC Announces Espejo Project Update - Seite 2

Rock sampling (Figure 6-9) assays yielded the following results, including significant grades of Au, Ag, and Cu in various mineralised forms:

• multi-mineralic Au-Ag-Cu skarn: 4.15 g/t Au, 77.8 g/t Ag, and 2.63% Cu;
• multi-mineralic Au-Ag skarn: 34.5 g/t Au and 38.7 g/t Ag;
• magnetite-pyrite Au skarn: 10.80 g/t Au; and
• epithermal quartz veins: 36.8 g/t Au.

The four anomalies at Espejo have been delineated through geological mapping of rock types, alteration, and sulphide minerals and by multi-element soil geochemistry with rock geochemistry. The mineralisation discovered at Espejo suggests that anomalies 1-4 represent a cluster of porphyry systems warranting drill testing. The presence of porphyry-related epithermal and skarn mineralization suggests a potential source of intrusion or intrusions in the area.

Statement from the CEO

Scott Caldwell, CEO and President of SolGold Ecuador acknowledged the significant progress this year and the support from stakeholders:

"The recent identification of another high-potential target at the Espejo Project, coupled with our discovery at Blanca Nieves, highlights the expertise and commitment of our geology team. It also emphasizes the patience and trust shown by our stakeholders in 2023 while we carefully evaluated and prioritized SolGold's consolidated property list and effectively carried out our exploration program. My sincere thanks go to our team, whose exceptional work, combined with the collaborative spirit within SolGold, has been crucial in advancing our exploration projects. As we look ahead to 2024, we are filled with energy and optimism about the opportunities that lie before us. With the team's continued dedication and our shareholders' support, SolGold is well-positioned to explore these new frontiers and drive further growth."

Foto: Accesswire

Figure 1: Location of the Espejo Project area, situated occurs along the Toachi Fault, a deep-seated, arc-parallel tectonic structure that bisects the length of the Northern Ecuador Cordillera Occidental (NECO) trend, part of the Northern Andean Copper-Gold Belt. This is a location that hosts several growing exploration plays and the very large Cascabel (2.66Bt @ 0.37% Cu, 0.25 g/t Au) and Llurimagua (1.55Bt @ 0.51% Cu, 10 ppm Mo) porphyry deposits. This region promises to deliver significant portions of the copper and gold necessary to meet the growing global demand over the coming decades. The inset diagram illustrates the location of SolGold tenements in Ecuador.