SolGold’s (LON:SOLG) shares surged on Friday following the announcement of exceptional near-surface copper-gold intercepts at its Tandayama-América deposit, part of the Cascabel Project in northern Ecuador.
SolGold has rallied 20% in early trading, climbing to a high of 14.42p per share. This year, the stock has surged more than 100% after significant gains in the last month.
Hole TAD-58 delivered the strongest near-surface intervals to date, igniting optimism for a low-capex, open-pit starter operation.
WELCOME BONUS - Free Share Bundle When You Invest £50!
Open a UK Investment Account: Shares, ISAs, Managed Portfolio
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
IG
View Offers
Empfohlener Broker
Multi Asset Platform
The highlight is Hole TAD-58, which intersected 140 meters at 0.92% Copper Equivalent (CuEq) from just 8 meters depth, including a high-grade zone of 106 meters at 1.10% CuEq from 22 meters.
TAD-25-055 intercepted 58 m @ 0.29 % CuEq from 6 m, including 6 m @ 0.33 % CuEq from 6m, and 24 m @0.36 % CuEq from 40. TAD-25-056 intercepted 280 m @ 0.32 % CuEq. The recent drill results build on the existing resource at Tandayama, and the previously released high-grade drill core assays from holes TAD-25-052, TAD-25-053, and TAD-25-054.
The near-surface mineralization identified could substantially de-risk the project by providing a quicker path to revenue generation.
The strategic significance of these findings lies in the potential to integrate early ore production from Tandayama into Cascabel’s overall development plan.
CEO Dan Vujcic commented: “TAD-58 is one of the most robust results we’ve seen from Cascabel to date – with high grades from near surface over substantial widths in a location that aligns with our open-pit to underground strategy.
“These results continue to show the potential to deliver early, high-margin tonnes from Tandayama-the kind of material that can provide valuable flexibility in the development of Cascabel.”
Searching for the Perfect Broker?
Discover our top-recommended brokers for trading or investing in financial markets. Dive in and test their capabilities with complimentary demo accounts today!
- IG Top-tier regulation – Read our Review
- eToro Wide range of instruments available to trade – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
