Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Hole TAD-25-058 intersected 140m @ 0.92% CuEq from 8m, including 106m @ 1.10% CuEq from 22m.

  • Mineralisation remains open at depth, with further drilling underway to expand the resource.

  • Open-pit development at Tandayama is planned to be integrated with the Alpala underground operation.

SolGold plc (LSE: SOLG) has announced assay results from three additional drill holes at its Tandayama-América deposit, part of the 100%-owned Cascabel Project in northern Ecuador. The results follow previously reported high-grade intervals on 28 July 2025 and are in line with the company’s strategy to advance near-surface, low-capex open-pit ore production in the initial years of Cascabel’s mine life.

The new results come from holes TAD-25-055 (“Hole 55”), TAD-25-056 (“Hole 56”), and TAD-25-058 (“Hole 58”), targeting extensions of the mineralised zone within potential open-pit boundaries.

Drilling Results

Hole TAD-25-058, located in the Pit 2 area, returned one of the most extensive near-surface intercepts reported at Cascabel to date:

  • 140m @ 0.92% CuEq (0.41% Cu, 0.59 g/t Au) from 8m, including 106m @ 1.10% CuEq from 22m.

  • An additional 50m @ 0.49% CuEq from 250m, with mineralisation remaining open at depth.

Hole TAD-25-055, also from the Pit 2 area, intersected:

  • 58m @ 0.29% CuEq (0.17% Cu, 0.14 g/t Au) from 6m.

  • Including 6m @ 0.33% CuEq from 6m, and 24m @ 0.36% CuEq from 40m.
    This mineralisation represents a southeast extension of the results from Hole 58, both drilled from the same collar location.

Hole TAD-25-056, drilled in the Pit 1 area, intersected:

  • 280m @ 0.32% CuEq (0.21% Cu, 0.13 g/t Au).
    The intercept tested the boundary of the preliminary Pit 1 design, indicating grades that could be economically mined.

Ongoing Program

Four additional holes (TAD-57, TAD-59, TAD-60, and TAD-61) have been completed, with core samples sent for laboratory analysis. Assay results are expected to be released upon completion. The 2025 Tandayama drilling program aims to upgrade resources within the conceptual open-pit shell to Measured and Indicated categories, supporting detailed mine planning.

To date, 10 holes totalling 3,398.16 metres have been completed, with eight holes (1,868.84 metres) remaining. Four drill rigs are currently active on site. Samples from four holes are pending assay results.

Strategic Integration

The Tandayama deposit lies approximately 3 km north of the Alpala deposit. Early-stage open-pit ore from Tandayama is planned to feed Cascabel’s processing plant ahead of full underground production from Alpala. This staged approach is intended to align mine sequencing, processing plant feed, and infrastructure development.

The current drilling is also providing data for open-pit slope geotechnical assessment, processing schedules, and pit-access planning.

Next Steps

The company expects to integrate new results into ongoing mine planning, receive and publish assay results from pending holes in August, and incorporate the data into the Cascabel Feasibility Study led by G Mining Services.