TIDMSOLG
RNS Number : 5887E
SolGold PLC
08 July 2021
8 July 2021
SolGold plc
("SolGold" or the "Company")
Ecuador Regional Exploration Update
The Board of Directors of SolGold (LSE & TSX code: SOLG) is
pleased to provide an update on the Regional Exploration programme
in Ecuador. The Company continues to pursue its strategy as an
integrated explorer and developer, based on preservation of value
for all shareholders. The Company maintains its plan of applying
its exploration blueprint of systematic evaluation of its
exploration assets across Ecuador, which are held by four wholly
owned subsidiaries.
SolGold is encouraged by results from its regional exploration
programme, particularly at the Porvenir project in southern Ecuador
with strong drilling results to date and visible copper-sulphide
mineralisation from ongoing drilling. The geology team are
advancing in-house resource estimation models including level-plan
and cross-section interpretation throughout the deposit, ahead of
finalising work that will form the basis of the Cacharposa Maiden
Mineral Resource.
The current quarter will see increased active exploration
activity at SolGold's regional exploration projects with
preparations advancing for the commencement of drilling at the Rio
Amarillo and Sharug projects, while drilling at the Porvenir and
Blanca projects is currently underway.
HIGHLIGHTS:
Porvenir Project, Southern Ecuador: Cacharposa Target
Ø Drill holes 8-13 at Cacharposa have intersected further
significant copper and gold mineralisation, including several
globally significant intercepts.
Ø Selected intersection highlights of drill hole assays received
from Holes 8-13 include:
-- Hole 8: 106m @ 1.02% CuEq
-- Hole 9: 108m @ 0.97% CuEq ([1])
-- Hole 10: 70m @ 0.73% CuEq
-- Hole 13: 174m @ 0.92% CuEq
Ø Visible copper-sulphide mineralisation continues to be
encountered in Holes 14-16 (assay results pending). Drilling of
Holes 17 and 18 is currently underway with two man-portable drill
rigs.
Ø Ongoing updates to internal preliminary Resource estimates
indicate a significant prospective resource that appears amenable
to bulk surface mining methods.
Blanca Project, Northern Ecuador: Cerro Quiroz Target
Ø Drilling of Hole 5 at Cerro Quiroz is currently underway,
testing for extensions to mineralisation encountered in Hole 4.
Final drill hole assays from Hole 4 at Cerro Quiroz target return
9m @ 3.12 g/t Au including 2m @ 12.62 g/t Au.
Sharug Project, Southern Ecuador: Santa Martha Target
Ø Preparations for an August commencement of drilling at the
Santa Martha target are in progress. The Santa Martha Target
represents a coincident hydrothermal alteration, geochemical and
magnetic anomaly characteristic of a copper-gold-molybdenum
porphyry system.
Rio Amarillo Project, Northern Ecuador: Varela Target
Ø Drilling planned at the Varela Target nears commencement
following delays in accessing the rugged terrain. An access road is
being constructed to allow drilling equipment to be transported to
specific drill sites.
Ø The Varela target exhibits a classic well-preserved
metalliferous lithocap and hydrothermal alteration system with a
full complement of porphyry plume elements, which show the classic
signature of a large scale strongly mineralised porphyry Cu-Au(-Mo)
system.
References to figures relate to the version visible in PDF
format by clicking the link below:
http://www.rns-pdf.londonstockexchange.com/rns/5887E_1-2021-7-8.pdf
FURTHER INFORMATION
SolGold's regional concessions lie along the prolific Andean
Copper Belt which is renowned as the production base for a
significant portion of the world's copper and gold. The Company's
regional exploration drive in Ecuador coordinates multiple highly
skilled field teams systematically exploring and assessing 75
regional concessions across 14 provinces throughout the country.
Exploration focusses on 13 High Priority Projects identified for
aggressive exploration, five of which are considered core targets
that have been elevated to drill ready status ( Figure 1 ).
Porvenir Project, Southern Ecuador: Cacharposa Target
The Porvenir project is located approximately 100km north of the
Peruvian border, in southern Ecuador and approximately 100km south
of the 9.48 Moz Au Fruta Del Norte deposit ([2]) . The Company's
Porvenir project is held by Green Rock Resources S.A., a 100% owned
and unencumbered subsidiary of SolGold.
The Cacharposa porphyry copper-gold target is part of a 1,700m
long northerly-trending mineralised corridor, up to 1,000m wide.
The target is characterised by coincident Cu, Mo, Au and Cu/Zn soil
anomalies that lie central to a zone of Mn-depletion in soil. Soil
molybdenum geochemistry shows a broad high nested within the
magnetic feature and coincides with a zone of manganese-depletion
in soil. Reduced-to-the-pole ("RTP") magnetics exhibit a central
magnetic high surrounded by an annular magnetic low. These
characteristics together are typical of numerous significant
porphyry deposits globally, several of which have become mines.
Drill holes 8-13 at Cacharposa intersected significant copper
and gold mineralisation, including several globally significant
intercepts of over 250m% Copper Equivalent (CuEq) [3] [4]. Selected
highlights of final drill hole assays received from Holes 8-13
include:
-- Hole 8: 712m @ 0.37% CuEq from surface, including 106m @ 1.02% CuEq
-- Hole 9: 206m @ 0.59% CuEq from 24m, including 108m @ 0.97% CuEq ([1])
-- Hole 10: 608m @ 0.47% CuEq from surface, including 70m @ 0.73% CuEq
-- Hole 13: 610m @ 0.42% CuEq from 2m, including 174m @ 0.92% CuEq
Significant intersections achieved from final assays in drill
holes 8-13 at Cacharposa are shown in Table 1 . A central
cross-section and drilling plan at Cacharposa are shown in Figures
2 & 3 .
Visible copper-sulphide mineralisation continues to be
encountered in Holes 14-16 (assay results pending) and drilling of
Holes 17 and 18 is currently underway with two man-portable drill
rigs.
Ongoing updates to internal preliminary Resource estimates
indicate a significant prospective resource that appears amenable
to bulk surface mining methods.
Blanca Project, Northern Ecuador: Cerro Quiroz Target
The Blanca Project is located in Northern Ecuador, approximately
8km northeast of SolGold's flagship Alpala Project. SolGold holds a
100% interest over the Blanca Project through its Ecuadorean
subsidiary company Carnegie Ridge Resources S.A. The Cerro Quiroz
target is characterised by a northerly-trending, silicified
topographic dome feature that occurs coincident with anomalous
Au-Cu-Mo-Ag-Pb-Zn soil geochemistry. This signature is consistent
with base-metal sulphide + gold-bearing quartz veins that typically
form peripheral to a porphyry source and/or epithermal vein
systems.
Gold mineralisation intersected in Hole 4 at Cerro Quiroz
returned 9m @ 3.12 g/t Au, 7.5 g/t Ag, and 0.74% Zn from 440m
depth, including 2m @ 12.62 g/t Au, 24.9g/t Ag, 1.39% Zn. This
interval is associated with a northeast trending structural zone
hosted within silicified hydrothermal breccia.
Drilling of Hole 5 is currently underway, testing for extensions
to mineralisation encountered in Hole 4.
Sharug Project, Southern Ecuador: Santa Martha Target
The Sharug project is located in the Miocene Belt in southern
Ecuador. SolGold earlier this year received the water extraction
licence for the Sharug project clearing the way for drilling to
commence at the Santa Martha target. The Santa Martha
copper-gold-molybdenum porphyry target covers an area 1,200m by
500m and remains open to the east. This target is characterised by
coincident porphyry style alteration, anomalous soil geochemistry
and a classic magnetic annular low in the RTP magnetic data.
The Santa Martha target consists of diorite, quartz diorite and
small zones of tourmaline breccia. Hydrothermal alteration
comprises zones of biotite-sericite, quartz-sericite, chlorite,
chlorite-epidote and sericite alteration.
An initial 6-hole drilling program is planned to commence in
August-2021, following completion of all operational facilities at
the site. This program will target the coincident geochemical and
geophysical anomalies at the Santa Martha target.
Rio Amarillo Project, Northern Ecuador: Varela Target
SolGold's 100%-owned Rio Amarillo project in northern Ecuador
lies approximately 30km southeast of the Company's flagship Alpala
porphyry copper-gold-silver deposit which holds a Measured plus
Indicated Resource of 2,663 Mt at 0.53% CuEq and contained metal
content of 9.9 Mt Cu, 21.7 Moz Au and 92.2 Moz Ag ([5]) . The Rio
Amarillo project comprises three concessions, Rio Amarillo 1, 2
& 3.
The main target areas at Varela, Florida, Palomar and Chalanes
exhibit porphyry style surface mineralisation and alteration
covering a vertical extent of up to 1,500m over a 12km-long by
3km-wide northeast-trending, highly magnetic, porphyry belt. The
major northeast-trending magnetic belt is intersected by a
secondary northwest-trending magnetic feature, likely to represent
the intersection of two deep-seated crustal-scale fracture zones,
which are filled by intrusive bodies with magnetic characteristics
indicative of strongly differentiated and mineralised systems. This
structural regime has strong similarities to that encountered at
the nearby Alpala deposit.
The Varela target exhibits a well-preserved metalliferous
lithocap and hydrothermal alteration system with a full complement
of porphyry plume elements, which are inferred to be consistent
with large and strongly mineralised porphyry
copper-gold(-molybdenum) systems.
Improved road access is being constructed to allow safe
transport of equipment and people to site. Drilling is expected to
commence as soon as the construction is finished in about two
months.
([1]) Preliminary assay results only. Final assay results from 7
of 96 samples within interval from 24-230m remain pending. Assumed
grades of these 7 samples are zero for Cu, Au and CuEq. Final assay
results are expected to be within +5% of the intersection reported
here.
([2]) Fruta Del Norte Mineral Resources, inclusive of Mineral
Reserves.
https://lundingold.com/en/fruta-del-norte/reserves-and-resources
.
([3]) Copper Equivalent (CuEq) is currently calculated (assuming
100% recovery of copper and gold) using a Gold Conversion Factor of
0.751 (CuEq = Cu + Au x 0.751), calculated from a current nominal
copper price of US$3.30/lb and a gold price of US$1,700/oz.
([4]) Metre percent Copper Equivalent (m% CuEq) = interval
length (m) x grade of the entire interval (CuEq%). M% CuEq
calculation provides a standardised measure of comparing drilling
intercepts by calculating an analogous interval length that would
hold a CuEq% grade of 1% for each metre within the selected
interval.
({5]) See "Cascabel Property NI 43-101 Technical Report, Alpala
Porphyry Copper-Gold-Silver Deposit - Mineral Resource Estimation,
January 2021" with an Effective date: 18 March 2020 and Amended
Date: 15 January 2021 (the "Amended Technical Report"), filed at
www.Sedar.com on January 29, 2021.
Figure 1 : Location Map. SolGold's Ecuador Regional Exploration
Drive, showing the 13 High Priority Projects identified for
aggressive exploration, five of which are considered Core Targets
that have been elevated to drill ready status: Porvenir, Blanca,
Rio Amarillo, Sharug and Cisne Loja.
Hole ID From To Interval Cu Au g/t Cu.Eq Cut-off m% (CuEq%)
m m m % % (CuEq%)
-------------- ------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-008 0 712 712 0.25 0.17 0.37 0.00 265.1
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-008 0 342 342 0.30 0.26 0.49 0.10 168.5
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-008 416 712 296 0.24 0.09 0.31 0.10 92.6
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-008 416 680 264 0.26 0.10 0.34 0.20 89.8
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-008 228 342 114 0.64 0.45 0.98 0.30 111.7
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-008 230 336 106 0.67 0.47 1.02 0.70 108.1
-------------- ------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-009* 24 230 206 0.37 0.29 0.59 0.10 121.1
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-009* 76 194 118 0.55 0.48 0.92 0.30 108.2
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-009* 86 194 108 0.58 0.52 0.97 0.40 105.1
-------------- ------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-010 0 608 608 0.30 0.22 0.47 0.10 285.4
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-010 74 604 530 0.34 0.23 0.51 0.20 270.8
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-010 74 156 82 0.42 0.35 0.68 0.30 55.4
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-010 216 576 360 0.37 0.22 0.54 0.30 194.7
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-010 86 156 70 0.44 0.39 0.73 0.50 51.3
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-010 264 562 298 0.41 0.24 0.58 0.40 174.2
-------------- ------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-011 32 392 360 0.17 0.10 0.25 0.10 88.5
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-011 200 370 170 0.23 0.14 0.33 0.20 56.6
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-011 448 562 114 0.19 0.05 0.22 0.10 25.5
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-011 448 530 82 0.21 0.05 0.25 0.20 20.4
-------------- ------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-012 0 238 238 0.12 0.18 0.26 0.10 62.0
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-012 51 212 161 0.21 0.31 0.30 0.20 49.0
-------------- ------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-013 2 612 610 0.32 0.13 0.42 0.00 255.1
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-013 52 612 560 0.34 0.11 0.43 0.10 239.2
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-013 262 468 206 0.58 0.18 0.72 0.20 148.7
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-013 262 454 192 0.69 0.22 0.85 0.40 164.1
------ ----- ---------- ----- ------- ------ --------- -----------
PDH-20-013 262 436 174 0.74 0.23 0.92 0.50 159.6
*Preliminary assay results only. Final assay results from 7 of
96 samples within interval from 24-230m remain pending. Assumed
grades of these 7 samples are zero for Cu, Au and CuEq. Final assay
results are expected to be within +5% of the intersection reported
here.
1 . Down-hole drill intercept data aggregation method based on
copper equivalent (CuEq) cut-off grades with up to 10m internal
dilution, excluding bridging to a single sample and with minimum
intersection length of 50m. Cut-off of 'na' refers to intervals
selected manually. 2. Copper Equivalent calculation assumes 100%
recovery of copper and gold and uses a Gold Conversion Factor of
0.751 (CuEq = Cu + Au x 0.751), calculated from a copper price
of US$3.30/lb and a gold price US$1,700/oz. 3.True width of down-hole
intersections reported are estimated to be approximately 55-75%
of the down-hole lengths.
4 . Interpreted orientation of the Cacharposa Intrusive Complex
and its associated porphyry copper-gold mineralisation is subvertical,
dipping approximately 75 degrees northwest. True width of down-hole
intersections reported are approximately 55-75% of the down-hole
lengths, depending on orientation of drill holes.
-----------------------------------------------------------------------------------------
Table 1 : Selected significant intercepts achieved at the
Cacharposa Deposit in Holes 8-13.
Figure 2 : Central Cross-section A-A' looking north-northeast
with window thickness of 100m, and showing assay results received
to date, holes pending assays (black) and planned drill holes
(light green), over current 3D Numerical Modelling at > 0.1%,
>0.4% and >0.7% CuEq cut-off grades.
Figure 3: Cacharposa Drilling Plan at Porvenir showing selected
highlights of drilling results to date, over topography and current
3D Numerical Models at > 0.1%, >0.4% and >0.7% CuEq
cut-off grades.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of the
Regulation (EU) No 596/2014 until the release of this
announcement.
Qualified Person:
Information in this report relating to the exploration results
is based on data reviewed by Mr Jason Ward ((CP) B.Sc. Geol.), the
Chief Geologist of the Company. Mr Ward is a Fellow of the
Australasian Institute of Mining and Metallurgy, holds the
designation FAusIMM (CP), and has in excess of 20 years' experience
in mineral exploration and is a Qualified Person for the purposes
of the relevant LSE and TSX Rules. Mr Ward consents to the
inclusion of the information in the form and context in which it
appears.
By order of the Board
Dennis Wilkins
Company Secretary
CONTACTS
Dennis Wilkins
SolGold Plc (Company Secretary) Tel: +61 (0) 7 3303 0660
dwilkins@solgold.com.au
Ingo Hofmaier
SolGold Plc (GM - Project & Corporate Tel: +44 (0) 20 3823 2131
Finance) ihofmaier@solgold.com.au
Fawzi Hanano
SolGold Plc (Investors / Media) Tel: +44 (0) 20 3823 2131
fhanano@solgold.com.au
Follow us on twitter @SolGold_plc
ABOUT SOLGOLD
SolGold is a leading resources company focussed on the
discovery, definition and development of world-class copper and
gold deposits. In 2018, SolGold's management team was recognised by
the "Mines and Money" Forum as an example of excellence in the
industry and continues to strive to deliver objectives efficiently
and in the interests of shareholders. SolGold, with 76 concessions
covering approximately 3,100km(2), is the largest and most active
concession holder in Ecuador and is aggressively exploring the
length and breadth of this highly prospective and gold-rich section
of the Andean Copper Belt which is currently responsible for c40%
of global mined copper production.
The Company operates with transparency and in accordance with
international best practices. SolGold is committed to delivering
value to its shareholders, while simultaneously providing economic
and social benefits to impacted communities, fostering a healthy
and safe workplace and minimizing the environmental impact.
Dedicated stakeholders
SolGold employs a staff of over 800 employees of whom 98% are
Ecuadorean. This is expected to grow as the operations expand at
Alpala, and in Ecuador generally. SolGold focusses its operations
to be safe, reliable and environmentally responsible and maintains
close relationships with its local communities. SolGold has engaged
an increasingly skilled, refined and experienced team of
geoscientists using state of the art geophysical and geochemical
modelling applied to an extensive database to enable the delivery
of ore grade intersections from nearly every drill hole at Alpala.
SolGold has over 80 geologists on the ground in Ecuador exploring
for economic copper and gold deposits.
About Cascabel and Alpala
The Alpala deposit is the main target in the Cascabel
concession, located on the northern section of the heavily endowed
Andean Copper Belt, the entirety of which is renowned as the base
for nearly half of the world's copper production. The project area
hosts mineralisation of Eocene age, the same age as numerous Tier 1
deposits along the Andean Copper Belt in Chile and Peru to the
south. The project base is located at Rocafuerte within the
Cascabel concession in northern Ecuador, an approximately
three-hour drive on sealed highway north of the capital Quito,
close to water, power supply and Pacific ports.
Having fulfilled its earn-in requirements, SolGold is a
registered shareholder with an unencumbered legal and beneficial
85% interest in ENSA (Exploraciones Novomining S.A.) which holds
100% of the Cascabel concession covering approximately 50km(2) .
The junior equity owner in ENSA is required to repay 15% of costs
since SolGold's earn in was completed, from 90% of its share of
distribution of earnings or dividends from ENSA or the Cascabel
concession. It is also required to contribute to development or be
diluted, and if its interest falls below 10%, it shall reduce to a
0.5% NSR royalty which SolGold may acquire for US$3.5million.
SolGold's Regional Exploration Drive
SolGold is using its successful and cost-efficient blueprint
established at Alpala, and Cascabel generally, to explore for
additional world class copper and gold projects across Ecuador.
SolGold is the largest and most active concessionaire in
Ecuador.
The Company wholly owns four other subsidiaries active
throughout the country that are now focussed on thirteen high
priority gold and copper resource targets, several of which the
Company believes have the potential, subject to resource definition
and feasibility, to be developed in close succession or even on a
more accelerated basis compared to Alpala.
SolGold is listed on the London Stock Exchange and Toronto Stock
Exchange (LSE/TSX: SOLG). The Company has on issue a total of
2,293,816,433 fully paid ordinary shares and 106,625,000 share
options.
Quality Assurance / Quality Control on Sample Collection,
Security and Assaying
SolGold operates according to its rigorous Quality Assurance and
Quality Control (QA/QC) protocol, which is consistent with industry
best practices.
Primary sample collection involves secure transport from
SolGold's concessions in Ecuador, to the ALS certified sample
preparation facility in Quito, Ecuador. Samples are then air
freighted from Quito to the ALS certified laboratory in Lima, Peru
where the assaying of drill core, channel samples, rock chips and
soil samples is undertaken. SolGold utilises ALS certified
laboratories in Canada and Australia for the analysis of
metallurgical samples.
Samples are prepared and analysed using 100g 4-Acid digest ICP
with MS finish for 48 elements on a 0.25g aliquot (ME-MS61).
Laboratory performance is routinely monitored using umpire assays,
check batches and inter-laboratory comparisons between ALS
certified laboratory in Lima and the ACME certified laboratory in
Cuenca, Ecuador.
In order to monitor the ongoing quality of its analytical
database, SolGold's QA/QC protocol encompasses standard sampling
methodologies, including the insertion of certified powder blanks,
coarse chip blanks, standards, pulp duplicates and field
duplicates. The blanks and standards are Certified Reference
Materials supplied by Ore Research and Exploration, Australia.
SolGold's QA/QC protocol also monitors the ongoing quality of
its analytical database. The Company's protocol involves
Independent data validation of the digital analytical database
including search for sample overlaps, duplicate or absent samples
as well as anomalous assay and survey results. These are routinely
performed ahead of Mineral Resource Estimates and Feasibility
Studies. No material QA/QC issues have been identified with respect
to sample collection, security and assaying.
Reviews of the sample preparation, chain of custody, data
security procedures and assaying methods used by SolGold confirm
that they are consistent with industry best practices and all
results stated in this announcement have passed SolGold's QA/QC
protocol.
The data aggregation method for calculating Copper Equivalent
(CuEq) for down-hole drilling intercepts and rock-saw channel
sampling intervals are reported using copper equivalent (CuEq)
cut-off grades with up to 10m internal dilution, excluding bridging
to a single sample and with minimum intersection length of 50m.
Copper Equivalent is currently calculated (assuming 100%
recovery of copper and gold) using a Gold Conversion Factor of
0.751 (CuEq = Cu + Au x 0.751), calculated from a current nominal
copper price of US$3.30/lb and a gold price of US$1,700/oz.
See www.solgold.com.au for more information. Follow us on
twitter @SolGold plc
CAUTIONARY NOTICE
News releases, presentations and public commentary made by
SolGold plc (the "Company") and its Officers may contain certain
statements and expressions of belief, expectation or opinion which
are forward looking statements, and which relate, inter alia, to
interpretations of exploration results to date and the Company's
proposed strategy, plans and objectives or to the expectations or
intentions of the Company's Directors, including the plan for
developing the Project currently being studied as well as the
expectations of the Company as to the forward price of copper. Such
forward-looking and interpretative statements involve known and
unknown risks, uncertainties and other important factors beyond the
control of the Company that could cause the actual performance or
achievements of the Company to be materially different from such
interpretations and forward-looking statements.
Accordingly, the reader should not rely on any interpretations
or forward-looking statements; and save as required by the exchange
rules of the TSX and LSE or by applicable laws, the Company does
not accept any obligation to disseminate any updates or revisions
to such interpretations or forward-looking statements. The Company
may reinterpret results to date as the status of its assets and
projects changes with time expenditure, metals prices and other
affecting circumstances.
This release may contain "forward--looking information" within
the meaning of applicable Canadian securities legislation.
Forward--looking information includes, but is not limited to,
statements regarding the Company's plans for developing its
properties. Generally, forward--looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved".
Forward--looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward--looking information, including but not limited to:
transaction risks; general business, economic, competitive,
political and social uncertainties; future prices of mineral
prices; accidents, labour disputes and shortages and other risks of
the mining industry. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, risks relating to the ability of exploration
activities (including assay results) to accurately predict
mineralization; errors in management's geological modelling and/or
mine development plan; capital and operating costs varying
significantly from estimates; the preliminary nature of
visual assessments; delays in obtaining or failures to obtain
required governmental, environmental or other required approvals;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation; the
global economic climate; fluctuations in commodity prices; the
ability of the Company to complete further exploration activities,
including drilling; delays in the development of projects;
environmental risks; community and non-governmental actions; other
risks involved in the mineral exploration and development industry;
the ability of the Company to retain its key management employees
and skilled and experienced personnel; and those risks set out in
the Company's public documents filed on SEDAR at www.sedar.com .
Accordingly, readers should not place undue reliance on
forward--looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
The Company and its officers do not endorse, or reject or
otherwise comment on the conclusions, interpretations or views
expressed in press articles or third-party analysis, and where
possible aims to circulate all available material on its
website.
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