SolGold and Cornerstone to cooperate in Cascabel copper project
2021-06-04 13:39:56 [Print]
Australian-based SolGold and shareholder Cornerstone Capital Resources have agreed to jointly advance the Cascabel copper-gold project in northern Ecuador.
The move will allow the parties to explore financing options for the mine, which is expected to begin production in 2025.
Canada's Cornerstone has a 6.9% stake in SolGold, making it the miner's fourth-biggest shareholder after BHP, Newcrest Mining and DGR Global.
Cornerstone said the focus should be on lowering the development risk at Cascabel and accessing the high-grade core at Alpala, the largest deposit found at the copper-gold asset.
Alpala currently has measured and indicated resources of 2.7 billion tonnes grading 0.53% copper-equivalent (0.37% copper, 0.25 grams gold per tonne, and 1.08 parts per million silver) for 9.9 million tonnes of contained copper, 21.7 million oz. gold and 92.2 million oz. of silver.
The move will allow the parties to explore financing options for the mine, which is expected to begin production in 2025.
Canada's Cornerstone has a 6.9% stake in SolGold, making it the miner's fourth-biggest shareholder after BHP, Newcrest Mining and DGR Global.
Cornerstone said the focus should be on lowering the development risk at Cascabel and accessing the high-grade core at Alpala, the largest deposit found at the copper-gold asset.
Alpala currently has measured and indicated resources of 2.7 billion tonnes grading 0.53% copper-equivalent (0.37% copper, 0.25 grams gold per tonne, and 1.08 parts per million silver) for 9.9 million tonnes of contained copper, 21.7 million oz. gold and 92.2 million oz. of silver.
Copper Conc. TC 25%min CIF China
Unit:USD/mt
China copper concentrate producers' suspension number statistics by province by month
Unit: pcs
