TIDMSOLG
RNS Number : 6612V
SolGold PLC
15 December 2021
15 December 2021
SolGold plc
("SolGold" or the "Company")
Cacharposa Maiden Mineral Resource Estimate
The Board of Directors of SolGold (LSE & TSX: SOLG) is
pleased to provide an independently verified update regarding the
maiden Mineral Resource Estimate ("MRE") for its Cacharposa ("CAC")
porphyry copper-gold deposit at the Porvenir project in southern
Ecuador, held by Green Rock Resources S.A., a 100% owned and
unencumbered subsidiary of SolGold.
HIGHLIGHTS
-- Total Mineral Resource of 396.8Mt @ 0.44% CuEq ([1]) for 1.40
Mt Cu, and 1.80 Moz Au in the Indicated category, plus 96.9 Mt @
0.37% CuEq for 0.28 Mt Cu, and 0.38 Moz Au in the Inferred
category, using a cut-off grade of 0.16% CuEq.
Mineral Resource Statement (effective date 26 October 2021)
Potential Cut-off Resource Tonnage Grade Contained Metal
Mining Grade Category (Mt)
Method (Cu Eq
%)
-------- ---------- -------- --------------------- -----------------------
Cu Au CuEq Cu Au CuEq
(%) (g/t) (%) (Mt) (Moz) (Mt)
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Open
Pit 0.16 Indicated 396.8 0.35 0.14 0.44 1.40 1.80 1.75
----------- -------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 96.9 0.29 0.12 0.37 0.28 0.38 0.36
----------- -------- ---------- -------- ----- ------- ----- ------ ------- ------
Notes: Detailed notes on qualified person, cut-off grades,
copper equivalency and compliance are provided in "Further
Information".
-- The Mineral Resource includes strong grades exposed at surface over a 650m long strike length.
-- Open Pit Optimisation studies performed independently by
Mining Plus Pty Ltd utilising Geovia Whittle(TM) software, show
that this near-surface zone is indicative of a potential starter
pit of 44.0Mt grading 0.64% CuEq (0.44% Cu, 0.34g/t Au).
-- Open pit optimisation results further identify an internal,
higher-grade, potentially open-pittable zone, containing 181.3Mt
grading 0.52% CuEq (0.37% Cu, 0.23g/t Au).
-- The full extent and tenor of the mineralised systems at the
Porvenir project have not yet been tested. Drilling continues at
Porvenir with one drill rig operating at the Cacharposa deposit and
two drill rigs operating at the nearby Mula Muerta satellite
target.
SolGold CEO, Mr Darryl Cuzzubbo, commented on today's
release:
"The maiden MRE for Cacharposa and continued encouraging
drilling results are a testament to the quality of the Company's
regional exploration portfolio. Whilst the strong grades exposed at
surface at Cacharposa attest to the economic potential, the
Porvenir project continues to grow and with numerous other nearby
mineralised targets identified, we believe the Porvenir project has
the potential to become a very significant copper-gold porphyry
camp."
[1] Copper equivalency factor of 0.632 (whereby CuEq = Cu + Au x
0.632) is based on third party metal price research, forecasting of
Cu and Au prices, and a cost structure from mining study data
available from a similar deposit. Costs include mining, processing
and general and administration (G&A). Net Smelter Return (NSR)
includes off-site realisation (TC/RC) including royalties,
metallurgical recoveries (84% for Cu and 65% for Au) and metal
prices of Cu at US$3.30/lb and Au at US$1,700/oz.
References to figures relate to the version visible in PDF
format by clicking the link below:
http://www.rns-pdf.londonstockexchange.com/rns/6612V_1-2021-12-14.pdf
FURTHER INFORMATION
The Porvenir project lies approximately 100km north of the
Ecuador-Peru border ( Figure 1 ), approximately 100km south of the
9.48 Moz Au Fruta Del Norte deposit ([2]) , and is held by Green
Rock Resources S.A., a 100% owned and unencumbered subsidiary of
SolGold.
On 26(th) October 2021, a data cut-off was applied to the CAC
dataset for the purposes of Mineral Resource Estimation. The CAC
maiden MRE dataset comprised 18,635.7m of diamond drilling from
holes 1-23, 439.6m of surface rock-saw channel sampling from 23
outcrops, and 16,982.4m of final assay results from holes 1-20
(Figure 2).
A Mineral Resource has been completed for the CAC deposit,
totalling 396.8Mt @ 0.44% CuEq for 1.40 Mt Cu, and 1.80 Moz Au in
the Indicated category, plus 96.9 Mt @ 0.37% CuEq for 0.28 Mt Cu,
and 0.38 Moz Au in the Inferred category, using a cut-off grade of
0.16% CuEq ( Table 1 ).
Mineral Resource Statement (effective date 26 October 2021)
Potential Cut-off Resource Tonnage Grade Contained Metal
Mining Grade Category (Mt)
Method (Cu Eq
%)
-------- ---------- -------- --------------------- -----------------------
Cu Au CuEq Cu Au CuEq
(%) (g/t) (%) (Mt) (Moz) (Mt)
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Open
Pit 0.16 Indicated 396.8 0.35 0.14 0.44 1.40 1.80 1.75
----------- -------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 96.9 0.29 0.12 0.37 0.28 0.38 0.36
----------- -------- ---------- -------- ----- ------- ----- ------ ------- ------
Notes:
1. Dr Andrew Fowler , MAusIMM CP(Geo), Principal Geology
Consultant of Mining Plus , is responsible for this Mineral
Resource statement and is an "independent Qualified Person" as such
term is defined in NI 43-101.
2. The Mineral Resource is reported using a cut-off grade
calculated for the open pit mining method.
3. Copper equivalency factor of 0.632 (whereby CuEq = Cu + Au x
0.632) is based on third party metal price research, forecasting of
Cu and Au prices, and a cost structure from mining study data
available from a similar deposit. Costs include mining, processing
and general and administration (G&A). Net Smelter Return (NSR)
includes off-site realisation (TC/RC) including royalties,
metallurgical recoveries (84% for Cu and 65% for Au) and metal
prices of Cu at US$3.30/lb and Au at US$1,700/oz. The Mineral
Resource is considered to have reasonable prospects for eventual
economic extraction by open pit mining methods.
4. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
5. The statement uses the terminology, definitions and
guidelines given in the CIM Standards on Mineral Resources and
Mineral Reserves (May 2014) as required by NI 43-101.
7. Figures may not compute due to rounding.
Table 1 : Cacharposa Mineral Resource Statement.
A sensitivity analysis on cut-off grades ranging from 0.10% CuEq
to 1.00% CuEq is provided in Table 2 .
Mineral Resource Sensitivity Analysis (Cut-off Grade)
Potential Cut-off Resource Tonnage Grade Contained Metal
Mining Grade Category (Mt)
Method (Cu Eq
%)
-------- ---------- -------- --------------------- -----------------------
Cu Au CuEq Cu Au CuEq
(%) (g/t) (%) (Mt) (Moz) (Mt)
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Open
Pit 0.1 Indicated 417.0 0.34 0.14 0.43 1.42 1.83 1.78
----------- -------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 189.8 0.19 0.09 0.25 0.36 0.55 0.47
----------- -------- ---------- -------- ----- ------- ----- ------ ------- ------
0.16 Indicated 396.8 0.35 0.14 0.44 1.40 1.80 1.75
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 96.9 0.29 0.12 0.37 0.28 0.38 0.36
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.2 Indicated 376.8 0.36 0.14 0.46 1.37 1.76 1.72
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 91.1 0.30 0.12 0.38 0.28 0.36 0.35
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.3 Indicated 273.1 0.42 0.17 0.53 1.15 1.52 1.45
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 56.5 0.36 0.15 0.46 0.21 0.27 0.26
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.4 Indicated 170.3 0.51 0.22 0.64 0.86 1.19 1.10
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 25.9 0.46 0.20 0.59 0.12 0.17 0.15
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.5 Indicated 114.5 0.58 0.26 0.74 0.66 0.94 0.85
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 12.5 0.58 0.27 0.75 0.07 0.11 0.09
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.6 Indicated 75.3 0.65 0.30 0.84 0.49 0.73 0.63
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 7.2 0.69 0.35 0.90 0.05 0.08 0.07
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.7 Indicated 50.0 0.72 0.36 0.94 0.36 0.57 0.47
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 4.4 0.81 0.42 1.07 0.04 0.06 0.05
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.8 Indicated 33.7 0.78 0.41 1.04 0.26 0.44 0.35
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 3.2 0.90 0.46 1.19 0.03 0.05 0.04
-------- ---------- -------- ----- ------- ----- ------ ------- ------
0.9 Indicated 23.1 0.84 0.45 1.12 0.19 0.33 0.26
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 2.7 0.95 0.49 1.26 0.03 0.04 0.03
-------- ---------- -------- ----- ------- ----- ------ ------- ------
1.0 Indicated 15.6 0.90 0.49 1.21 0.14 0.25 0.19
-------- ---------- -------- ----- ------- ----- ------ ------- ------
Inferred 2.3 0.98 0.51 1.31 0.02 0.04 0.03
----------- -------- ---------- -------- ----- ------- ----- ------ ------- ------
Table 2 : Cacharposa Mineral Resource Sensitivity Analysis
(Sensitivity to Cut-off Grade).
The full extent and tenor of the mineralised systems at the
Porvenir project have not yet been tested, with mineralisation open
at the north and south extremities of the potential pit area (
Figure 2 ).
Drilling continues at Porvenir with one drill rig operating at
the Cacharposa deposit, and two drill rigs operating at the nearby
Mula Muerta satellite target, (inclusive of the Viño target).
An NI 43-101 Technical Report on the Porvenir Property is being
prepared and is planned for filing at www.sedar.com in 45 days'
time.
The estimation process followed the Canadian Institute of
Mining, Metallurgy and Petroleum ("CIM") "Estimation of Mineral
Resources and Mineral Reserves Best Practice Guidelines" (CIM,
2019). The Mineral Resource Estimate is stated in accordance with
CIM Definition Standards (CIM, 2014) and Canadian National
Instrument 43-101 ("NI 43-101").
Ordinary Kriging ("OK") was run in three search passes and with
soft boundaries using Leapfrog Edge software. The estimation of Cu
and Au was confined within 3D estimation domains, which were based
on the combination of two 3D wireframe interpretations:
-- Grade Shell Interpretation : Low-, Medium- and High- tenor
CuEq grade shells equating to CuEq cut-off grades of 0.15%, 0.40%
and 0.70% respectively.
-- Lithological Interpretation : Modelling of six rock groups,
comprising "HR" (pre-mineral diorite and volcanic host rocks), "EM"
(early-mineral diorite and quartz-monzonite), "IM" (intra-mineral
intrusive breccia, diorite, quartz-monzonite and monzonite), "LM"
(late-mineral diorite, quartz-monzonite and monzonite), "PM"
(post-mineral hydrothermal breccia and diorite), and "SOI" (soil
and oxidised rock).
Model validation tests have not exhibited any material bias
between the input composite grades and the block model
estimates.
The CAC MRE is constrained within a 3D Open Pit Optimised Shape
("OP") generated from an independent open pit optimisation using
the conventional Lerchs-Grossman optimisation routine implemented
in Whittle software, whereby the revenue factor one pit ( Figure 3
) was selected for reporting the Mineral Resource.
The CAC deposit shares geological characteristics with many
global porphyry deposits, including the Tandayama-América porphyry
copper-gold deposit, at the Company's flagship Cascabel property,
from which metallurgical recoveries of 84% for Cu and 65% for Au
were utilised in the determination of Reasonable Prospects for
Eventual Economic Extraction ("RPEEE").
The geometry of the Cacharposa deposit is now well understood
and an intimate spatial correlation is exhibited between
early-stage intrusive phases, visible copper sulphide
mineralisation and CuEq grade distribution ( Figure 3 ).
Mineralisation is hosted within a complex of Jurassic diorites,
monzonites, quartz-monzonites and breccias that intrude a
pre-mineral package of volcanic and diorite host rocks to form a
complex of stocks, dykes, and breccia pipes. The porphyry-related
vein types and mineral paragenesis at CAC indicate a systematic
evolution of the deposit in time and space.
The trend of mineralisation throughout the CAC deposit is
dominated by a north-northeast trending (014(--) ) intrusive
complex inclined steeply (78(--) ) towards the west-northwest.
Surface mapping data is supported by structural measurements taken
from orientated drill core, which includes 96 intrusive contacts
and 574 B-type quartz veins.
Copper and gold mineralisation is associated with visible
chalcopyrite-pyrite mineralisation, present as disseminations,
fracture-fillings and within B-type quartz veins and stockworks.
These mineralized elements are centred upon early-mineral causal
diorite ("D10") and quartz-monzonite ("QM10") intrusions that are
cut by a series of intra-mineral, late-mineral and volumetrically
small, post-mineral breccia bodies and dykes of diorite,
quartz-monzonite and monzonite composition.
Intrusions have been emplaced episodically such that each
subsequent intrusion has introduced mineralising fluids and
subsequent arrays of chalcopyrite-pyrite mineralisation into the
CAC system. The early-mineralisation (EM) and intra-mineralisation
(IM) intrusions have contributed the majority of copper and gold to
the deposit.
The geological character of the porphyry stocks / dykes
encountered through drilling to date indicate an exposed porphyry
Cu-Au system with a mineralised vertical column of approximately
1,000m.
Since the effective date (26 October 2021), a further 1,501.3m
of drilling has been completed at the CAC deposit for a current
total of 20,137m in 25 drill holes, with drill hole 26 currently
underway utilising one diamond drilling rig. Assay results from
Holes 22-26 at CAC are pending. Two diamond drill rigs are
operating at nearby mineralised targets at Mula Muerta (Mula Muerta
and Viño targets), which lie approximately 1km west of the
Cacharposa deposit.
([2]) Fruta Del Norte Mineral Resources, inclusive of Mineral
Reserves.
https://lundingold.com/en/fruta-del-norte/reserves-and-resources
.
Reasonable Prospects for Eventual Economic Extraction
The cut-off grades used for reporting have been based on up to
date third party metal price research, forecasting of Cu and Au
prices, and a cost structure from mining studies currently being
reviewed. Costs include mining, processing and general and
administration ("G&A"). Net Smelter Return ("NSR") includes
metallurgical recoveries and off-site realisation ("TC/RC")
including royalties and utilising metal prices of Cu at US$3.30/lb
and Au at US$1,700/oz.
The cut-off grade for potentially open pittable material was
calculated at 0.16% CuEq using a copper equivalency factor of
0.632.
The open pit optimisation was completed using the conventional
Lerchs-Grossman optimisation routine implemented in Whittle
software, and the revenue factor one pit was selected for reporting
the Mineral Resource. The QP considers that the Mineral Resource,
has reasonable prospects for eventual economic extraction at the
specified cut-off grade.
Mineralisation inside the revenue factor one pit was subtracted
from the block model, and the remaining material was then
considered for underground optimisation according to open-stope,
sub-level cave and block cave mining methods. Nevertheless, the
mineralisation identified from this analysis was considered
uneconomic given the RPEEE criteria, and the currently drilled
extents of the mineralisation. Therefore, no mineralisation
potentially mineable by underground mining methods is reported in
the Mineral Resource statement. Further drilling may extend the
mineralisation and could lead to the identification of potentially
economic mineralisation by underground mining methods in the
future.
An assessment of whether the project as a whole is economically
viable has not been made under this analysis.
Figure 1 : Location of the CAC deposit at the Porvenir project
in southern Ecuador.
Figure 2 : Drill plans at the CAC deposit, looking down, showing
the CAC maiden MRE dataset of diamond drill holes 1-23 and surface
rock-saw channel samples from 23 outcrops over the "revenue factor
one" open-pit optimisation wireframe. A total of 16,982.4m of final
assay results from holes 1-20 were utilised for the estimation.
Holes 1-20 display downhole CuEq assay grades, whilst holes 21-23
(black) were utilised for geological data (A) .
Mineralisation remains open at the north and south extremities
of the "revenue factor one" open-pit area as exemplified by the
limits of high-, medium-, and low- tenor CuEq grade models equating
to CuEq cut-off grades of 0.15% (blue), 0.40% (green) and 0.70%
(orange) respectively (B).
Figure 3 : Section view, looking north-northwest, with window
thickness of 100m, showing the "revenue factor one" open-pit
optimisation wireframe, indicated (IND) and inferred (INF) limits
over the following geometrically consistent base layers:
A: the geology group model,
B: the high- medium- and low- tenor copper estimate models at
0.45% Cu.Est, 0.25% Cu.Est and 0.10% Cu.Est cut-offs respectively .
(Copper estimates (Cu.Est) or "visible copper content" is estimated
from volume percent copper-sulphide mineral abundance logging of
diamond drill core, utilising high-quality hand-lens and
standardised modal abundance charts. Copper estimates are utilised
as a spatial and geometric proxy for copper mineralisation only)
.
C: the high- medium- and low- tenor CuEq grade models at 0.70%,
0.40% and 0.15% cut-offs respectively, and
D: the CuEq grade distribution within the CAC Mineral Resource Block Model.
Certain information contained in this announcement would have
been deemed inside information.
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.
Information in this report relating to the Mineral Resource
Estimate was reviewed by Dr Andrew Fowler. Dr Fowler is a Chartered
Professional Member of the Australasian Institute of Mining and
Metallurgy and has 16 years' experience in Mineral Resource
Estimation, open pit mining, underground mining and mineral
exploration. He is an independent Qualified Person for the purposes
of the relevant LSE and TSX Rules. Dr Fowler 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) 417 945 049
dwilkins@solgold.com.au
Ingo Hofmaier
SolGold Plc (Acting CFO) Tel: +44 (0) 20 3823 2130
ihofmaier@solgold.com.au
Fawzi Hanano / Lia Abady
SolGold Plc (Investors / Communication) Tel: +44 (0) 20 3823 2130
fhanano@solgold.com.au / labady@solgold.com.au
Tavistock (Media)
Jos Simson/Gareth Tredway Tel: +44 (0) 20 7920 3150
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 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 900 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.
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 a large and active concessionaire in Ecuador.
The Company wholly owns four other subsidiaries active
throughout the country that are now focussed on a number of high
priority copper and gold 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 34,250,000 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.
CAC potentially open-pittable resources were estimated using a
Copper Equivalency (CuEq) calculated from estimated costs,
including mining, processing and general and administration
(G&A), whereby Net Smelter Return (NSR) includes metallurgical
recoveries and off-site realisation (TC/RC) including royalties,
and utilising the updated nominal copper price of US$3.30/lb and a
gold price of US$1,700/oz to produce a Gold Conversion Factor of
0.632 (CuEq = Cu + Au x 0.632).
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.
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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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December 15, 2021 02:00 ET (07:00 GMT)
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