Wednesday, June 28, 2017

Cascabel - Latest Results

We got results from 2 more drill-holes from Alpala last week (link).

I've plugged the numbers in and this is what it has done to my officially bad (tm) contained metal calculations.

Copper



We have a 14% increase in tonnes and an equivalent increase in contained copper

Gold



Here we have a 10% increase in tonnes and 8% increase in contained gold, so a minor (1%) decrease in grade.

This is some very unfashionable results, normally companies like to drill huge amounts of low grade and amaze everyone with the total contained ounces of gold and tonnes of copper.

So where did these results come from?

Starting to look quite big
Hole 25 was drilled 200m to the SE of hole 19, and below historic hole 13-003 that terminated before it hit the main zone Cu-Au mineralization. It hit a 100m zone of high-grade mineralization from 772-872m but quickly passed into low-grade/marginal material.

It suggests that there could be better mineralization to the NE, maybe an additional hole could be drilled from same platform to the NE?



Hole 24 was disappointing, it was drilled 500m to the SE, and hit a narrow (~50m true width) interval grading 0.65 g/t Au and 0.63% Cu, surrounded by very low (<0.2% CuEq) grade mineralization. It looks like hole 24 just clipped the very edge of Alpala mineralization.



You can get the LF viewer file from here (link).



20 comments:

  1. Are you still holding SOLG shares? Any thoughts on the likelyhood of Cascabel eventually being developed into a mine?

    Thanks for sharing your work, Andrew

    ReplyDelete
  2. Hole 23R just released. Any comments appreciated:

    Hole 23R (Rig 1) assay results:
    - 1030m @ 1.16 % copper equivalent (0.59 % Cu, 0.90 g/t Au) from 490m;
    - 770m @ 1.44 % copper equivalent (0.71 % Cu, 1.16 g/t Au) from 540m;
    - 474m @ 1.88 % copper equivalent (0.89 % Cu, 1.57 g/t Au) from 830m;
    - 216m @ 3.08 % copper equivalent (1.29 % Cu, 2.84 g/t Au) from 970m.

    Thanks, Andrew

    ReplyDelete
    Replies
    1. added 1 million oz to my officially bad resource, but there was a bit of grade smearing.

      Delete
  3. 216 @ 3%eq = Tee Hee. Butt seriously, what's not to like when this baby hits the TSE? http://canadastockjournal.blogspot.ca/2017/06/solgold-plc-aim-solgl.html

    ReplyDelete
  4. The fact that Angry has commented on Solg from early on shows he/she is highly knowledgeable and has many followers. I have no doubt H23r will add further tonnage but maybe the AG update will come when the results from h26 and 27 come in next week .

    Thanks again AG

    ReplyDelete
  5. Hello there, my dad keeps poking me to invest in Solg. I see your calculations on the oz's of copper contained but do you also have a calculation for the cost per oz and capex to get the mine running. Also what's the likelihood of the Aguinaga area being surface mineable?

    ReplyDelete
    Replies
    1. In the latest post there is a great link to background info on CAPEX and OPEX for block cave operations.

      Delete
  6. A body needs a PEA before seeing semi-reliable numbers. I like this deal plenty and once it hits the TSE it should be bought, no question.

    As an aside one needs to AVOID (at all bloody costs) falling knives when it comes to spec paper. Our guy at Inca Kola has been spanked hard lately, and damn, it makes me mad to see him touting folks against a wicked large tide whilst he's very clearly stuck.

    ReplyDelete
  7. We got results from 2 more drill-holes from Alpala last week (link). I've plugged the numbers in and this is what it has done to my officially bad ...

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