REG - SolGold PLC - Drilling Reports at Tandayama

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RNS Number : 6737Z  SolGold PLC  17 September 2025

 

17 September 2025

 

SolGold plc

("SolGold" or the "Company")

Reports Drilling at Tandayama Advances Early Open Pit Strategy

& Supports Development Studies

 

SolGold (LSE: SOLG) announces that drill hole results received for holes 57,
59, 60, 61, 62, 63, 64, and 65 support the emerging strategy for the
development of early-stage open-cut resources at Tandayama America
("Tandayama"), 3 km north of the Alpala resource and reserves on the Company's
100% owned Cascabel porphyry copper-gold Project ("Cascabel" or the "Project")
in Northern Ecuador.

Completed drill hole assay results for holes 66, 67, and 68 are yet to be
received.  Hole 69 is currently being drilled to complete the original
program in the next week. Also, hole 70 has already started (TAM-1) as part of
the phase-2 drilling program.

Significant zones of potentially open-cuttable resources continue to be
defined by the current drilling program, with three rigs deployed. In addition
to exploration and resource definition, selected drill holes are being used to
collect geotechnical data for pit design and metallurgical samples to support
future mill testwork. A further 2,870 m has been designed to seek to define
limits to mineralisation, potential pit boundaries and provide a database for
revised resource calculations. Completion of the extended phase is expected in
the next five weeks.

The extended program will assess high-grade zones close to the surface on the
southern conceptual pit 1 area (one rig), and a second rig is extending the
mineralised zone at the bottom of hole 58 (previously reported)(1), which
ended in ore-grade mineralization. Mineralised zones between conceptual pits 1
and 2 are planned to be tested. A third rig is deployed to test the northern
extent of mineralisation in the northern area of pit 2 and coincident
anomalous geochemical zones, magnetic anomalies indicative of porphyry
copper-gold targets and outcropping porphyry-style copper-gold mineralisation
approximately 500 m to the west of Tandayama. (Figures 2 and 4)

The Tandayama porphyry system is proving to be more extensive than initially
thought, with discrete higher-grade zones enveloped in a system of lower-grade
mineralisation. The Tandayama system remains open at depth to the southeast of
pit 1.

Drill hole results received since the last announced results on 15 August
2025(1) include:

·    Hole 65: 166 m at 0.44% CuEq from 20 to 186 m, including a
higher-grade zone of 0.61% CuEq from 112 to 186 m. This intersection also
contained a 14 m interval grading 0.76% CuEq, highlighting the presence of
higher-grade shoots near surface. Hole 65 is located across the southern third
of the conceptual north pit area, 260 m SW of the high-grade near-surface
intersection in hole 58. (Figure 2)

·    Hole 60: Other significant results indicating the extent of medium
and low-grade mineralisation include 124 m at 0.41% CuEq from 40 m depth,
including 26 m at 0.57% CuEq.

·    Hole 57: 160 m from 104 m @0.33% CuEq.

·    Hole 59, 61, and 62: Broad, lower-grade zones were encountered,
demonstrating the continuity of mineralisation across the conceptual pit
areas.

·    Hole 69: Occurrences of bornite, a high-grade copper sulphide
mineral observed in the drilling, provide further encouragement. Drilling is
ongoing. (Figure 5)

TANDAYAMA WEST

SolGold has identified an additional open-pittable target approximately 500 m
west of proposed pits 1 and 2. The area is characterised by a magnetic high
with a concentric low, interpreted as a central magnetic intrusive and
peripheral alteration zone. Previous reconnaissance mapping identified an
18.4-metre-long zone in a creek outcrop with rock channel samples averaging
0.23 g/t gold and 0.24% copper (0.44% CuEq). Within this, a 2.2 m sample
graded 0.67 % copper and 0.76 g/t gold (1.32% Cu Eq) hosted in altered
intrusive rocks with evident brecciation and multidirectional B veining of the
type evident at Alpala and Tandayama. (Figure 5) The outcrop demonstrates that
anomalous gold and copper mineralisation is present in the intrusive porphyry
system. The dimensions of the magnetic anomaly substantiate potential for a
significant resource to be defined with a view to early-stage development of
open-pittable resources at Cascabel.  SolGold has a drill hole planned to
test this target. (Figures 2 and 4)

CEO Dan Vujcic commented,

"I am pleased to see the mineralisation expanding with more high-grade zones.
Tandayama West looks interesting and could potentially add significant life to
the open pit complex, further de-risking the overall project as we embark on
commencing early works at Alpala. Additional targeted infill and explorative
drilling that I have recently approved will allow us to expand the resource
further and better define the economics of the pit. The current drilling is
providing valuable geotechnical and metallurgical data needed to accelerate
mine and processing design. The progress in six short months has been
remarkable, and we continue to move with conviction to create significant
shareholder value, which is our primary focus."

Figure 1. Maps of the Tandayama América deposit showing the preliminary
designed pit 1 and pit 2, the holes drilled to date, and the planned holes for
the phase 2 drilling program. A) Au soil anomaly map, where high gold
anomalies coincide with pit 1 and pit 2 and show other exploration targets
towards the NW of pit 2, and towards the W of pit 1 and 2 (Tandayama-West). B)
Reduced to pole magnetic map showing high magnetic anomalies coinciding with
pit 1 and pit 2, and also another similar high magnetic anomaly towards the
west of pit 1 and 2, named Tandayama-West, this anomaly shows porphyry-style
mineralization on the surface as it is presented in the rock channel samples.
These anomalies are going to be tested during the phase 2 drilling program.

Figure 2. Sections of the preliminary designed Pit 1 and Pit 2, showing the
updated mineralized intersections, and the planned holes (blue lines) to test
the extensions of mineralization already found to proper categorization to
open pit mining.

Table 1. Assay results summary:

 Hole ID     From   To      Interval  Cu    Au      Cu.Eq

m
 m
m        %
 g/t
%
 TAD-25-057  24.65  92      67.35     0.18  0.07    0.24
 containing  66.39  84      17.61     0.27  0.13    0.38
             104    264     160       0.22  0.13    0.33
 containing  106    132     26        0.28  0.14    0.41
 containing  176    214     38        0.24  0.13    0.34
 TAD-25-059  40     80      40        0.09  0.07    0.14
             106    260     154       0.12  0.06    0.17
             264    308     44        0.10  0.05    0.15
 containing  216    242     26        0.18  0.12    0.28
             326    342     16        0.09  0.06    0.14
 TAD-25-060  40     164     124       0.18  0.27    0.41
 containing  56     106     50        0.23  0.36    0.54
 containing  120    146     26        0.24  0.39    0.57
 TAD-25-061  128    148     20        0.08  0.05    0.12
             164    200     36        0.10  0.06    0.15
             228    426     198       0.12  0.07    0.18
 containing  238    262     24        0.19  0.11    0.29
 containing  330    366     36        0.18  0.11    0.27
 TAD-25-062  20     154     134       0.15  0.10    0.24
 containing  20     50      30        0.22  0.10    0.30
 containing  64     80      16        0.25  0.19    0.41
 containing  122    134     12        0.18  0.11    0.33
 containing  140    152     12        0.19  0.15    0.32
             180    190     10        0.11  0.09    0.19
 TAD-25-063  12     22      10        0.05  0.19    0.21
             54     74      20        0.11  0.10    0.20
             98     142     44        0.10  0.11    0.20
 containing  108    132     24        0.13  0.14    0.26
             172    200     28        0.05  0.12    0.15
             234    242     8         0.05  0.11    0.14
 TAD-25-064  8.7    212     203.3     0.09  0.07    0.16
 containing  78     102     24        0.17  0.14    0.29
 containing  134    142     8         0.24  0.12    0.34
             234    250     16        0.08  0.12    0.18
             356    432     76        0.15  0.11    0.24
 TAD-25-065  20     186     166       0.21  0.27    0.44
 containing  76     90      14        0.28  0.56    0.76
 containing  112    186     74        0.29  0.36    0.61

Figure 3. Representative core photographs from the drilled holes. A) Magmatic
Intrusive Breccia (IBX), hosting magnetite, chalcopyrite and pyrite bearing B
veins (0.36% Cu, 0.19 g/t Au). B) Lapilli tuff (V), hosting
chalcopyrite-bearing B-vein overprinted by pyrite vein (0.88% Cu, 0.86 g/t
Au).  C) IBX, hosting chalcopyrite bearing B-vein (0.31% Cu, 0.098 g/t
Au). D) IBX, hosting chalcopyrite and pyrite-bearing B-vein (0.50% Cu, 0.61
g/t Au). E) IBX, hosting chalcopyrite bearing B-vein (0.88% Cu, 1.27 g/t
Au). F) IBX, hosting chalcopyrite-bearing B-vein crosscut by C veins (0.49%
Cu, 1.07 g/t Au). G) IBX, hosting chalcopyrite bearing B-veins (0.28% Cu,
0.61 g/t Au). H) IBX, hosting disseminated chalcopyrite (0.38% Cu, 0.15 g/t
Au). I) Quartz diorite (QD15), hosting chalcopyrite bearing B-vein (0.35%
Cu, 0.15 g/t Au). J) Diorite (D10), hosting chalcopyrite
magnetite-bearing B-vein (0.25% Cu, 0.28 g/t Au). K) IBX, hosting magnetite,
pyrite and chalcopyrite bearing B-vein (0.55% Cu, 0.47 g/t Au). L) IBX,
hosting fine disseminated chalcopyrite (0.26% Cu, 0.23 g/t Au).
M) Diorite (D10), hosting chalcopyrite, pyrite and bornite bearing B-vein
(0.30% Cu, 0.24 g/t Au). N) IBX, hosting chalcopyrite and pyrite
bearing B-vein (0.29%Cu, 0.29 g/t Au). O) Diorite (D10), hosting
chalcopyrite, pyrite and magnetite stockwork B-veins (0.52% Cu, 1.44 g/t Au).
P) IBX, hosting magnetite chalcopyrite and pyrite bearing B-veins (0.84% Cu,
1.06 g/t Au).

Figure 4. Outcrop sample from Tandayama West Anomaly. Copper gold
mineralisation (0.76 g/t Au, 0.67% Cu, 1.32% CuEq) 2.2m of an 18.4 m rock
channel sample (averaging 0.23 g/t Au, 0.24% Cu, 0.44% CuEq) on fractured and
veined out cropping porphyry host at Tandayama West.

Figure 5. B veins from hole 69, showing bornite bordering chalcopyrite. The
images were taken under 20x (left) and 40x magnification (right).

CONTACTS

 Dan Vujcic

 Chief Executive Officer   Tel: +44 (0) 20 3807 6996

ENDNOTE:

1.   Refer to News Release Dated 15 Aug 2025:  SolGold plc Reports
Exceptional Near-Surface Copper-Gold Intercepts at Tandayama América: Link
to News (https://polaris.brighterir.com/public/solgold/news/rns/story/rm7ppnr)

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 in the interests of its 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 (LSE: SOLG).

See www.solgold.com.au (http://www.solgold.com.au) for more information.
Follow us on X @SolGold_plc.

 

QUALIFIED PERSON

 

The scientific and technical disclosure included in this news release has been
reviewed and approved by Mr. Santiago Vaca (M.Sc. P.Geo.), a Qualified Person
as defined under National Instrument 43-101 - Standards of Disclosure for
Mineral Projects.

 

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
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Accordingly, the reader should not rely on any interpretations or
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prices, and other affecting circumstances.

This release may contain "forward-looking information". Forward-looking
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prices; accidents, labour disputes and shortages and other risks of the mining
industry. Although the Company has attempted to identify important factors
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Factors that could cause actual results to differ materially from such
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readers should not place undue reliance on forward-looking information. The
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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.

 

SolGold plc UK Company No. 5449516 ARBN 117 169 856 Email: info@solgold.com.au
Website: www.solgold.com.au

Postal address: PO Box 7059, Cloisters Square PO Perth WA 6850 Australia

Registered office: 1 Cornhill, London, EC3V 3ND, UK Phone: +44 (0) 20 3807
6996

 

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