SolGold reports high-grade near-surface copper-gold results at Tandayama-América, Cascabel Project

SolGold (LSE: SOLG) reports 160.5 m @ 0.77% CuEq from 11.5 m at Tandayama-América, confirming open-pit potential and early-mining optionality at the Cascabel copper-gold project in Ecuador.

SolGold plc (LSE: SOLG) has announced a new set of strong drilling results from the Tandayama-América deposit, part of its 100%-owned Cascabel copper-gold project in northern Ecuador. The latest assays, including 160.5 metres grading 0.77% copper-equivalent (CuEq) from just 11.5 metres below surface, further confirm the open-pit potential of the deposit and strengthen the company’s early-mining development strategy.

Located approximately 3 kilometres north of the world-class Alpala deposit, Tandayama-América is emerging as a cornerstone of SolGold’s revised plan to deliver an accelerated production start and improved project financing flexibility across the Cascabel district.

Drilling highlights

Hole TAD-25-074: 160.5 m @ 0.77% CuEq (0.38% Cu, 0.46 g/t Au) from 11.5 m, including:

• 92 m @ 0.93% CuEq (0.40% Cu, 0.52 g/t Au) from 11.5 m
• 14 m @ 1.58% CuEq (0.71% Cu, 1.02 g/t Au) from 42 m
• 17.82 m @ 1.22% CuEq (0.43% Cu, 0.92 g/t Au) from 70 m

Hole TAD-25-073: 130 m @ 0.54% CuEq (0.31% Cu, 0.27 g/t Au) from 16 m, including 42 m @ 0.78% CuEq (0.40% Cu, 0.44 g/t Au).

Hole TAD-25-072: 151.37 m @ 0.42% CuEq (0.19% Cu, 0.27 g/t Au) from 18.63 m, including 83.37 m @ 0.55% CuEq (0.25% Cu, 0.35 g/t Au).

These results demonstrate broad zones of consistent, near-surface copper-gold mineralization within intrusive breccia units extending across the planned Pit 1 and Pit 2 footprints. Mineralization remains open in several directions, confirming Tandayama-América as a key growth target within Cascabel.

CEO: “Accelerating and de-risking Cascabel”

“Tandayama-América continues to deliver consistent near-surface copper-gold grades over substantial intervals,” said Dan Vujcic, CEO of SolGold plc.
“These results strengthen our confidence that Tandayama will soon demonstrate sufficient resources to support an open-pit operation, enabling production within two to three years of receiving approvals.”

Vujcic added that having two ore sources — Tandayama at surface and Alpala underground — will accelerate value creation and de-risk early project financing by providing multiple development pathways.

“The ability to develop two complementary operations allows SolGold to create value faster, with less risk and earlier cash flow, while reducing start-up capital,” he said. “This makes Cascabel unique among development-stage copper-gold projects globally.”

Strategic significance within the Cascabel district

The Cascabel concession, covering more than 50 square kilometres in Ecuador’s Imbabura Province, hosts both the Alpala and Tandayama-América deposits — together forming one of the world’s most significant undeveloped copper-gold districts.

While Alpala represents a large, long-life underground resource, Tandayama-América offers a low-strip, open-pit option capable of providing early mill feed and cash flow to support Cascabel’s overall development. This dual-deposit model provides strategic flexibility, enabling phased growth, reduced capital intensity, and enhanced project economics.

Recent drilling success further reinforces this vision, suggesting that Cascabel could evolve into a multi-mine complex supported by shared processing and infrastructure facilities.

Exploration and next steps

The ongoing Phase 2 drilling program at Tandayama-América has completed more than 2,400 metres across eight holes. Assays from holes TAD-25-071 and TAD-25-075 are pending, while holes TAD-25-076 and TAD-25-077 are currently in progress. Hole 77 at Tandayama-West is intersecting promising visible mineralization above a modelled magnetic intrusive source.

An initial mineral resource estimate (MRE) is being prepared by Mining Plus, expected in the coming weeks, and will include conceptual pit design and preliminary project parameters.