REG - SolGold PLC - Pre-Feasibility Study Technical Report

SolGoldAnnouncement

12/03/2024 07:15

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RNS Number : 4262G  SolGold PLC  12 March 2024

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)
(https://polaris.brighterir.com/public/solgold/news/rns/story/xze09lx) . 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/
(https://solgold.com.au/projects/ecuador/cascabel-project/) and on SEDAR+
under the Company's issuer profile at www.sedarplus.ca
(http://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 (http://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
(http://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.

 

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