12 March
2024
SolGold plc
("SolGold" or the
"Company")
Announces Filing of NI
43-101
Pre-Feasibility Study
Technical Report
SolGold (LSE & TSX: SOLG)
is pleased to announce that the Company has
filed on SEDAR+ an independent technical report (the "Report")
prepared in accordance with National Instrument 43-101
- Standards of Disclosure
for Mineral Projects ("NI 43-101") supporting the
results of a Pre-Feasibility Study ("PFS") for the Cascabel Project
(the "Project" or "Cascabel") in Ecuador. The results of the PFS were
previously reported in the Company's news release dated 16
February 2024
(Link). The effective date of
the report is 31 December 2023.
The full Report dated 8 March
2024, entitled "NI 43-101 Technical Report on Pre-feasibility
Study" can be found on the Company's website
at https://solgold.com.au/projects/ecuador/cascabel-project/
and on SEDAR+ under the Company's issuer profile
at www.sedarplus.ca.
CONTACTS
Scott Caldwell
SolGold Plc (CEO)
|
Tel: +44
(0) 20 3807 6996
|
Tavistock (Media)
Jos Simson/Gareth Tredway
|
Tel: +44
(0) 20 7920 3150
|
ABOUT SOLGOLD
SolGold is a leading resources
company focused on the discovery, definition, and development of
world-class copper and gold deposits and continues to strive to
deliver objectives efficiently and in the interests of
shareholders.
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
environmental impact.
SolGold is listed on the London
Stock Exchange and Toronto Stock Exchange (LSE/TSX:
SOLG).
See www.solgold.com.au
for more
information. Follow us on "X" @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". 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.sedarplus.ca.
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 findings in the PFS and the
implementation of the Cascabel project are subject to all the
necessary approvals, permits, internal and regulatory requirements
and further works. The estimates are indicative only and are
subject to market and operating conditions. They should not be
interpreted as guidance. The information contained herein is a
summary only and is qualified in its entirety by reference to the
Technical Report (as defined herein).
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.
The Company recognises that the term
World Class is subjective and for the purpose of the Company's
projects the Company considers the drilling results at the Alpala
porphyry copper-gold deposit at its Cascabel project to represent
intersections of a World Class deposit on the basis of comparisons
with other drilling intersections from World Class deposits, some
of which have become, or are becoming, producing mines and on the
basis of available independent opinions which may be referenced to
define the term "World Class" (or "Tier 1").
The Company considers that World
Class deposits are rare, very large, long life, low cost, and are
responsible for approximately half of total global metals
production. World Class deposits are generally accepted as deposits
of a size and quality that create multiple expansion opportunities
and have or are likely to demonstrate robust economics that ensure
development irrespective of position within the global commodity
cycles, or whether or not the deposit has been fully drilled out,
or a feasibility study completed.
Standards drawn from industry
experts (1Singer and Menzie, 2010; 2Schodde, 2006; 3Schodde and
Hronsky, 2006; 4Singer, 1995; 5Laznicka, 2010) have characterised
World Class deposits at prevailing commodity prices. The relevant
criteria for World Class deposits, adjusted to current long run
commodity prices, are considered to be those holding or likely to
hold more than 5 million tonnes of copper and/or more than 6
million ounces of gold with a modelled net present value of greater
than US$1billion.
The Company cautions that the
Cascabel Project remains an early-stage project at this time and
there is inherent uncertainty relating to any project at prior to
the determination of pre-feasibility study and/or defined
feasibility study.
On this basis, reference to the
Cascabel Project as "World Class" (or "Tier 1") is considered to be
appropriate.