For some reason I had got into my head that a two year time frame would be enough to see out the Cascabel question. So took a second look at the statement within todays DGR Quarterly Activities Report.
“New drilling contracts signed to underpin aggressive four year Exploration program”
It was the FOUR years that caught my eye.
Somehow I had missed or glossed over that statement in the December Quarterly.
I have not found elsewhere any mention of the four year exploration plan by DGR.
But here’ a recap on what we do already know… still a nice read, and a great story.
Please note the Highlighted commentary is biased towards the first Maiden resource Statement.
Anyway, I still think in another 18 months we will much more the wiser.
8 March 2016: DGR: DGR Business Update.
- In 2016 SOLG is planning an initial resource statement over a portion of the Alpala Central Deposit.
25 Apr 2016: SOLG Cascabel exploration Update.
- The company continues to work towards the calculation of its maiden resource statement for the Cascabel project, the exact timing of which will be dependent on, amongst other things, the progress of drilling throughout the year.
8 July 2016: SOLG: Execution of term Sheet for Private Placement of ordinary shares. (Maxit Capital arrives)
- SOLG is planning a resource statement at Alpala, the most advanced target at Cascabel, During 2016.
1 Aug 2016: SOLG: Execution of revised Term Sheet (Maxit)
- Intense Diamond drilling is planned for the next 12 months with 4 drilling rigs.
- SOLG is planning a Resource Statement at Alpala (the most advanced target at Cascabel) During 2016.
9 Aug 2016 SOLG: Recent Developments in Ecuador
- The SOLG Programme over the next FOUR years is projected to involve 250 000m of drilling and the engagement of 10 drill rigs.
18 Aug 2016 DGR: DGR Business Update
- Intense Diamond drilling is planned for the next 12 months with 4 drilling rigs.
26 Aug 2016 SOLG: Maxit Capitol First Tranche Raising Share Issue Details.
- As previously announced, SOLG intends to contract additional drill rigs to expand exploration on the overall Cascabel concession whilst also continuing to work towards the delivery of a Maiden Resource at Alpala.
29 Aug 2016 DGR: DGR Business Update.
- Intensive Diamond drilling is planned for the next 12 months with 4 drilling rigs.
30 Aug 2016 SOLG: Conditional Agreement with Newcrest, Block Caving Goldmining specialist
- “ This Company is a Major in the making”. NM.
31 Aug 2016 SOLG: Holdings in Company
- Intense Diamond drilling is planned for the next 12 months with 4 drilling rigs
- SOLG is planning a Resources Statement at Alpala ( the most advanced Target at Cascabel) during 2016. This has been delayed by the discovery of High Grade mineralisation in Hole 17 at Alpala, extending the immediate resource potential.
14 Oct 2016 SOLG: Maxit Capitol 2
nd Tranche Raising
- Intense Diamond drilling is planned for the next 12 months with 4 drilling rigs
17 Oct 2016 SOLG: Newcrest Settlement and Share Issue Details.
- SOLG is now armed with USD 44 Million with which to attack the next two years progress of up to 95 000m of drilling at Alpala and several of the other targets defined to date at Cascabel.
18 Oct 2016 SOLG: New Drilling Contracts signed and Drilling Underway
- New Drilling Contracts signed for Cascabel to underpin 4 year Exploration and Appraisal Prog.
- 12 Month drill programme for 36 000m with up to 6 rigs.
- Two Year programme to end OCT 2018 for a total of 95 000m with up to 10 rigs.
- SOLG Planned Resource Statement at Alpala (the most advanced target at Cascabel) has been delayed by the discovery of high grade mineralisation in holes 15R2, 16 and 17 at Alpala.
- By end of OCT 2018 SOLG estimates the cpmpletion of 95 000m drilling, including testing the targets at Moran, Agyuinaga, Trivinio, Alpala Sth East, Tandayama-America and Hematite Hill.
24 Nov 2016 SOLG: Cascabel Exploration Update.
- SOLG is focussing on extending the dimensions of Alpala before completing a Resource Statement and drill testing the other key targets within the Cascabel concession.
4 Jan 2017 SOLG: Cascabel Exploration Update.
- SOLG plans to have 7 drilling rigs active on the project by the end OCT 2017.
14 Feb 2017 SOLG: Cascabel Exploration Update.
- “Hole 19 has returned another long and well-endowed intersection at Alpala. Clearly this result is endorsing the status of Alpala s not only very big, but with a rich core”. NM
- “The lower extensions of Alpala have still not been tested and we are excited to continue tracking down what we believe will be Alpalas rich heart”. Ben Whistler.
- SOLG is awaiting the arrival of 2 additional man portable rigs within the next month to focus on defining the extent of the Alpala System, prior to the completion of an optimised Maiden Resource Statement.
21 Feb 2017 DGR: DGR Corporate Update.
- Tier 1 Cascabel Copper Gold discovery, cash of circa 40 million, 95000m of drilling in next two years.
27 Feb 2017 SOLG: Cascabel Exploration Update.
- “ We believe this zone has potential to double the size of the Alpala deposit and increase the grade too”. NM – referring to Hole 21.
4 April 2017 SOLG: Cascabel Exploration Update.
- Outlook: The Geology Team have yet to define the extents of the Alpala Porphyry System and the deposit remains open in all directions continuing to grow with each new drill hole.
11 April 2017 DGR: Quarterly Activities Report.
- New Drilling contracts signed to underpin aggressive 4 year exploration programme.
So, In summary, looks like I picked up the two year programme from commentary about the 95 000m mark, but we are looking for effectively 250 000m over a four year period.
And the fact is, we have been working for over twelve months just to find the dimensions of Alpala – and we still havn’t found the edges of this, and it is one target of 14.
Conclusion: This is going to be a longer row to hoe than I first thought..
