SolGold PLC Announces Geotechnical Investigations Commence at Cascabel
SolGold has initiated geotechnical investigations at the Cascabel Copper-Gold Project in northern Ecuador. The project's pre-feasibility study outlines a 28-year mine plan based on 540 million tonnes of reserves, containing 3.2 million tonnes of copper, 9.4 million ounces of gold, and 28 million ounces of silver. With a $1.55bn capex, the project targets a 24% after-tax IRR and $3.2bn NPV8%. The program includes geotechnical drilling and seismic assessments focusing on key infrastructure areas. SolGold is funded through a $100m gold streaming agreement, with an additional $650m available for development upon meeting conditions.
SolGold ha avviato indagini geotecniche presso il Progetto Copper-Gold Cascabel nel nord dell'Ecuador. Lo studio di pre-fattibilità del progetto prevede un piano minerario di 28 anni basato su 540 milioni di tonnellate di riserve, contenenti 3,2 milioni di tonnellate di rame, 9,4 milioni di once d'oro e 28 milioni di once d'argento. Con un investimento in capitale di 1,55 miliardi di dollari, il progetto mira a un tasso di rendimento interno dopo le tasse del 24% e un valore attuale netto (NPV) dell'8% di 3,2 miliardi di dollari. Il programma include perforazioni geotecniche e valutazioni sismiche focalizzate su aree infrastrutturali chiave. SolGold è finanziato attraverso un accordo di streaming d'oro da 100 milioni di dollari, con ulteriori 650 milioni disponibili per lo sviluppo al raggiungimento di determinate condizioni.
SolGold ha iniciado investigaciones geotécnicas en el Proyecto de Cobre-Oro Cascabel en el norte de Ecuador. El estudio de pre-factibilidad del proyecto describe un plan minero de 28 años basado en 540 millones de toneladas de reservas, que contienen 3.2 millones de toneladas de cobre, 9.4 millones de onzas de oro y 28 millones de onzas de plata. Con una inversión de capital de 1.55 mil millones de dólares, el proyecto tiene como objetivo un TIR después de impuestos del 24% y un VAN del 8% de 3.2 mil millones de dólares. El programa incluye perforaciones geotécnicas y evaluaciones sísmicas centradas en áreas de infraestructura clave. SolGold está financiado a través de un acuerdo de streaming de oro de 100 millones de dólares, con otros 650 millones disponibles para el desarrollo al cumplir con las condiciones necesarias.
SolGold는 에콰도르 북부의 Cascabel 구리-금 프로젝트에서 지반 기술 조사를 시작했습니다. 프로젝트의 사전 타당성 조사에서는 5억 4천만 톤의 자원을 바탕으로 한 28년의 채굴 계획을 제시하며, 이에는 320만 톤의 구리, 940만 온스의 금, 그리고 2800만 온스의 은이 포함됩니다. 15억 5천만 달러의 자본 지출을 통해 프로젝트는 세후 24%의 내부 수익률과 32억 달러의 NPV8%를 목표로 하고 있습니다. 이 프로그램에는 주요 인프라 지역을 중심으로 한 지반 조사가 포함되어 있습니다. SolGold는 1억 달러의 금 스트리밍 계약을 통해 자금을 조달하고 있으며, 조건 충족 시 6억 5천만 달러의 추가 개발 자금을 이용할 수 있습니다.
SolGold a lancé des enquêtes géotechniques sur le projet de cuivre et d'or de Cascabel dans le nord équatorien. L'étude de préfaisabilité du projet décrit un plan minier de 28 ans reposant sur 540 millions de tonnes de réserves, contenant 3,2 millions de tonnes de cuivre, 9,4 millions d'onces d'or et 28 millions d'onces d'argent. Avec un budget d'investissement de 1,55 milliard de dollars, le projet vise un taux de rendement interne après impôts de 24 % et une valeur actuelle nette (VAN) de 3,2 milliards de dollars à 8 %. Le programme comprend des forages géotechniques et des évaluations sismiques axées sur des zones d'infrastructure clés. SolGold est financé par un accord de streaming d'or de 100 millions de dollars, avec 650 millions de dollars supplémentaires disponibles pour le développement sous certaines conditions.
SolGold hat geotechnische Untersuchungen im Cascabel Kupfer-Gold-Projekt im Norden Ecuador gestartet. Die Machbarkeitsstudie des Projekts skizziert einen 28-jährigen Bergbaubetrieb basierend auf 540 Millionen Tonnen an Reserven, die 3,2 Millionen Tonnen Kupfer, 9,4 Millionen Unzen Gold und 28 Millionen Unzen Silber enthalten. Mit einer Kapitalinvestition von 1,55 Milliarden US-Dollar zielt das Projekt auf eine nach Steuern von 24% interne Rendite und einen Nettobarwert (NPV) von 3,2 Milliarden US-Dollar bei 8%. Das Programm umfasst geotechnische Bohrungen und seismische Bewertungen, die sich auf wichtige Infrastrukturbereiche konzentrieren. SolGold wird durch eine 100 Millionen US-Dollar umfassende Gold-Streaming-Vereinbarung finanziert, wobei zusätzlich 650 Millionen US-Dollar für die Entwicklung zur Verfügung stehen, wenn bestimmte Bedingungen erfüllt sind.
- Pre-feasibility study shows strong economics with 24% IRR and $3.2bn NPV8%
- Significant mineral reserves: 540M tonnes with 3.2M tonnes copper, 9.4M oz gold
- Secured $100M funding through streaming agreement with additional $650M available
- Only 18% of overall resource utilized in current mine plan, indicating expansion potential
- High initial capital expenditure requirement of $1.55bn
- Project completion dependent on securing additional capital solutions
Commencement of Geotechnical Investigations at the Cascabel Project
BISHOPSGATE, LONDON / ACCESSWIRE / November 4, 2024 / SolGold plc (LSE:SOLG)(TSX:SOLG) is pleased to announce the commencement of geotechnical investigations at the Cascabel Copper-Gold Porphyry Project in northern Ecuador, marking an important milestone in the advancement of one of the world's premier copper-gold projects. The Cascabel Project's pre-feasibility study outlined a 28-year mine plan based on an updated Mineral Reserve Estimate of 540 million tonnes, containing 3.2 million tonnes of copper at
The current geotechnical program includes both geotechnical drilling and refraction seismic assessments to gather important information on ground conditions and subsurface characteristics, contributing to a refined understanding of the site's geotechnical framework.
The initial phase of the geotechnical investigations program, including the drilling and ground geophysics, will focus on key infrastructure areas for the mine. Data collected will inform excavation design, ground support, and other critical components of the Project. This approach supports SolGold's commitment to industry-leading safety and operational standards and provides a solid basis for further engineering design and planning. Should visual mineralization or alteration be encountered, core samples will be assayed to ensure that the proposed infrastructure locations will not impede potential future resource expansion.
In conjunction with the start of geotechnical investigations, SolGold has scheduled a technical meeting in November with teams from SolGold and G Mining Services Inc ("G Mining"). This meeting will focus on collaborative planning and project optimizations, allowing both teams to align on objectives that support a streamlined approach to the engineering and construction phases. With a shared emphasis on efficiency, innovation, and sustainability, the teams aim to optimize foundational aspects to help position Cascabel as a major future copper and gold supplier.
Scott Caldwell, CEO of SolGold, commented: "Commencing the geotechnical drilling program is a key milestone in the Cascabel Project's timeline. The data collected will support our technical teams in finalizing the mine's design, helping us advance toward the Company's goal of delivering one of the largest multi-generational copper-gold projects in the world. The upcoming kickoff meeting with G Mining's technical team underscores SolGold's commitment to integrating top-level planning and sustainable development practices to deliver one of the world's largest copper-gold resources responsibly."
The Cascabel Project represents a high-grade copper-gold resource poised to meet the increasing global demand for copper over the coming decades. In recent months, SolGold has progressed multiple aspects of the project, including permitting and infrastructure planning, while strengthening relationships with local and national stakeholders. This geotechnical drilling phase adds to the momentum as the Company moves towards delivering a robust feasibility study in 2025.
SolGold is funded to deliver these objectives, following a recent gold-only streaming agreement with Franco-Nevada (Barbados) Corporation and Osisko Bermuda Limited. This agreement provides the Company with US
SolGold is advancing strategies to secure additional capital solutions to complete the remaining development funding. The Company is also exploring early-stage open-cut development of the Tandayama-Ameríca deposit to bring the Cascabel Project's copper-gold production forward by several years.
As SolGold advances its initiatives at Cascabel, the Company remains dedicated to fostering strong relationships with its stakeholders, prioritizing sustainable development, and delivering long-term value. The insights gained from the current geotechnical investigations will play a significant role in shaping the subsequent phases of project planning and execution. SolGold looks forward to keeping stakeholders updated as we progress toward establishing Cascabel as a key cornerstone copper-gold asset for the future.
Endnotes:
1. Refer to news release dated 16 February 2024 on SEDAR+ and the Company's website.
Link: 2024-02-16 Release2. Refer to news release dated 12 March 2024 on SEDAR+ and the Company's website.
Link: 2024-03-12 Release3. Refer to news release dated 15 July 2024 on SEDAR+ and the Company's website:
Link: 2024-07-15 Release
CONTACTS
Chris Robinson Director of Corporate Operations | Tel: +44 (0) 20 3807 6996 |
Tavistock (Media) | 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.
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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.
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SOURCE: SolGold PLC
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