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Porvenir Project Update
Porvenir Project Update.
About this update from SolGold PLC
[{"type":"text","content":"\n\n1 December 2023\nSolGold plc\n(\"SolGold\" or the \"Company\")\nPorvenir Project Update\nAdvancing Exploration Across a Cluster of Porphyry Copper-Gold Targets\n \nSolGold (LSE & TSX: SOLG) is pleased to provide an update on the exploration of the Porvenir Project (\"Project\"), held through its Ecuadorean subsidiary, Green Rock Resources S.A.\nThe Porvenir Project is located within the south-eastern portion of the Eastern Cordillera of Ecuador, approximately 70km south of the regional centre of Loja. The Project sits within the northerly-trending, Jurassic metallogenic belt of the northern Andes, which hosts significant economic gold and copper mines at Fruta del Norte and Mirador, and large Cu-Au resources at Mirador Norte, Warintza, San Carlos, Panantza.\nFull details on the exploration updated are set out below under the heading 'Further Information'.\nSolGold Geology Manager, Mr. Santiago Vaca, commented on today's exploration update:\n\"Drilling completed in the Cacharposa deposit indicates a pit constrained mineral resource, which is still open. The successful exploration performed at Cacharposa allows us to enhance our understanding on the geology and mineralization controls in the area, building our confidence in the potential to keep growing the resource with additional drilling, and to validate the high-quality of the other Cu-Au porphyry targets found within the Porvenir project\".\n \nFURTHER INFORMATION\nThe Porvenir Project, covers a cluster of geochemical anomalies that represent porphyry copper-gold targets that include Cacharposa, Balmore-(Diablo), Bartolo, Palmal and Merino. The Cacharposa anomaly coincides with a Cu-Au porphyry deposit that has an open-pit mineral resource estimate (CAC MRE#1) that comprises 396.8 Mt @ 0.44% CuEq for 1.40 Mt Cu and 1.80 Moz Au in the indicated category, plus 96.9 Mt @ 0.37% CuEq for 0.28 Mt Cu and 0.38 Moz Au in the inferred category, using a cut-off grade of 0.16% CuEq (refer to \"Porvenir Property NI 43-101 Technical Report Mineral Resource Estimate, October 2021\"). The remaining anomalies have yet to be drill-tested.\nOn 26th October 2021, a data cut-off was applied to the Cacharposa dataset for the purposes of a Mineral Resource Estimation. The CAC MRE#1 dataset comprised 18,635.7m of diamond drilling; 439.6m of surface rock-saw channel sampling from 23...