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Mining company SolGold said it had recorded significant copper and gold mineralisation at its Tandayama-America porphyry copper and gold target in Ecuador.
The target lay about 3 kilometres north of the Alpala deposit, located on the Cascabel property within the Imbabura province of northern Ecuador.
Highlights included intersecting 531 metres at 0.30% copper equivalent, including 272 metres at 0.44% copper equivalent.
'Significant copper and gold mineralisation at the TAM target will add to the already impressive metal inventory at Alpala,' executive board member Jason Ward said.
'The recent drilling results at TAM are indicative of a significant prospective resource that appears amenable to bulk surface mining methods.'
'This seems likely to have a major beneficial impact on the development of the Cascabel property as a whole and the further upside of a potentially significant deep target beneath TAM is certainly adding excitement to the growing possibilities at Cascabel.'
At 8:47am: (LON:SOLG) SolGold PLC share price was 0p at 33.1p