(MENAFN- ProactiveInvestors)SolGold (LON:SOLG) said its latest drill findings support the view that the Alpala deposit at the Cascabel copper project in Ecuador can be extended southeast. According to the company hole 16 is now at 738 metres. Above that at 568.1 metres the firm started to see " significant visible copper" containing porphyry style stockwork veining it said. Porphyry systems deep underground have housed some of the world's largest ever copper discoveries. Cascabel lies on the Andean copper belt the same geological trend as some of the largest copper and gold finds. SolGold's geologists believe the mineralisation in hole 16 suggests the porphyry system at depth could be very strong and fertile similar to that intersected in hole 12. That hole hit the high grade core of the Alpala deposit returning a world class result of 576m at 1.03% copper and 1.19 g/t gold. Shares in SolGold added 6.67% in early deals to 2p on the day.
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