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Exploration Update - Porvenir Project
Exploration Update - Porvenir Project.
About this update from SolGold PLC
[{"type":"text","content":"\n \n \n \n RNS Number : 1312B\n SolGold PLC\n 05 October 2020\n \n \n \n \n 5 October 2020\n \n \n SolGold plc\n \n \n (\"SolGold\" or the \"Company\")\n \n \n \n \n \n First Drill Hole at Porvenir Still in Mineralised Porphyry System at 660m\n \n \n \n \n \n The Board of SolGold (LSE & TSX: SOLG) is pleased to provide an update on Porvenir Project, held by Green Rock Resources S.A, a wholly owned and unencumbered subsidiary of SolGold.\n \n \n \n \n \n Highlights\n \n \n \n \n \n Ø \n \n Due to highly encouraging visual estimates from the first hole at Cacharposa (PDH-20-001) and growing potential for a large, strongly mineralised porphyry copper-gold system at Cacharposa, SolGold will plan a larger 50,000m drilling program, subject to ongoing positive results.\n \n \n \n \n \n \n Ø \n \n PDH-20-001, the first drill hole at the Porvenir, at Cacharposa (formerly Target 15), has so far intersected over 644m of visual copper sulphide mineralisation, hosted by potassium-rich intrusions, as the hole continues towards a revised planned depth of at least 750m. Potassium-rich porphyry systems are the host for a number of Tier 1 porphyry copper-gold mines around the world.\n \n \n \n \n \n \n Ø \n \n The dominant copper sulphide mineral observed in PDH-20-001 is chalcopyrite, and chalcopyrite mineralisation has been observed from 15.9m to the current depth of 660.3m. Detailed core logging, from the last reported depth of 491.0m, to a current logged depth of 619.0m, shows chalcopyrite percentages of up to an estimated 3.0 % by volume with associated porphyry style total quartz vein abundance of up to a measured 4.7 % by volume. Mineralisation from surface to 491m depth was previous described in announcement on 01 October 2020.\n \n \n \n \n \n \n Ø \n \n PDH-20-001 was collared in mineralisation and central to coincident soil gold, copper, molybdenum and Cu:Zn anomalies, drilling at a dip of -55 degrees towards the east-southeast. The drill hole is testing the eastern limits of the system and the geology team interpret that PDH-20-001 hole is drilling across the upper periphery of the core of a large, strongly mineralised porphyry copper-gold system.\n \n \n \n \n \n \n Ø \n \n The second drill hole will be drilled from the same location at a steeper angle of a planne...