AI assistant
DGR GLOBAL LIMITED — Regulatory Filings 2021
Aug 11, 2021
64771_rns_2021-08-11_2ca7d456-21fb-40de-a781-8dad31968a86.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
==> picture [162 x 55] intentionally omitted <==
DGR Global Limited 12 August 2021 SolGold Update
The Board of Directors of international resource company creator, DGR Global Limited (the Company; ASX: DGR), is pleased to provide an update with regard to its 8.9% interest in London / Toronto listed company: SolGold (LSE / TSX: SOLG).
Sharug Exploration Update
Overnight (11[th] August 2021) the Board of Directors of SolGold provided an update on part of its Regional Exploration programme in Ecuador, with the commencement of drilling at the Sharug Project in southern Ecuador, held by Green Rock Resources, a 100% owned subsidiary of SolGold.
Drilling commenced at the Santa Martha copper gold porphyry target at the Sharug Project as part of an initial six-hole drilling program testing extensive coincident surface geochemical and geophysical anomalies.
SolGold reports that mineralisation at Santa Martha is part of a 600m wide by 1,200m long northeast trending corridor containing mineralisation styles, size and geometry consistent with surface exposure of a vertically extensive, well-preserved copper-gold porphyry system.
All scout drilling regulatory approvals have been received for 13 drilling platforms to accommodate multiple holes at the Santa Martha target.
Commenting for SolGold, Mr Jason Ward, Executive Director and Country Manager for
SolGold in Ecuador said : “Santa Martha displays all of the classic porphyry copper gold signatures that SolGold has recognised through Ecuador and defines the blueprint we developed at the tier 1 Alpala project. The permitting and organisation of the Santa Martha programme further endorses SolGold’s pan-Ecuadorean activities and strategy and are a testament to our hard-working team and supportive government and communities. It is a further step to becoming a large and integrated explorer, developer and producer in Ecuador, on the most under explored and prospective section of the Andean Copper Belt. SolGold is dominant in Ecuador’s exploration effort, and results to date endorse this strategy.”
DGR Global Limited ACN 052 354 837 street: Level 27, 111 Eagle Street post: GPO Box 5261 Brisbane QLD 4001 p +61 7 3303 0680 f +61 7 3303 0681 e [email protected] w www.dgrglobal.com.au
==> picture [71 x 25] intentionally omitted <==
Nicholas Mather, CEO of DGR Global and Founder and Non-Executive Director of SolGold said “drilling by SolGold at the Sharug project in southern Ecuador marks the first round of drill testing on the third of its 13 regional projects throughout the 700km long Ecuadorean sector of the world’s most prolific copper province, the Andean Copper belt. The creation of the blueprint for the discovery of multiple world class projects based on the signature of the Alpala deposit in northern Ecuador for SolGold is a central Tenet of DGRs resource discovery strategy and one that us applied across a range of DGR daughter companies. The target replication strategy is designed to create companies controlling world class resource assets on a provincial basis, creating national economic impact. We expect SolGold’s resource base to grow substantially as a result of this exciting exploration program and look forward to resource definition in the near future at new SolGold discoveries at Porvenir in Southern Ecuador and at Tandayama just 3 kms north of the world class Alpala deposit, currently in prefeasibility.”
Ecuador Executive Decree N[o] 151 and Mining Action Plan
On 10 August 2021, SolGold reported that Ecuadorian President Guillermo Lasso recently announced Executive Decree Nº 151 ("Decree") that contains the Mining Policy for Ecuador. The Decree defines the new public policy that the Government of Ecuador will implement for the mining industry. The new Mining Policy provides a solid plan that includes clear principles of respect for mining rights that are consistent with President Lasso's government's objective to create a favourable environment for increased investment into the mining sector in order for Ecuador to benefit from the nation's significant mineral wealth.
The Decree lays out a clear Action Plan ("Plan") and timeframe that has a primary objective of developing an efficient, environmentally and socially responsible mining industry in Ecuador, to promote national and foreign investment and to implement the best practices for the exploitation of these resources. The Plan will provide the necessary framework to guarantee security of title, respect pre-existing mining rights and will involve an inter-institutional strategy for the eradication of illegal mining with its associated negative environmental and social impacts, in favour of legal and responsible mining.
This marks an important step forward for Ecuador's mining industry and represents a major commitment by the government.
Commenting on the Decree, Vice President of SolGold in Ecuador, Andrew Taunton said:
"President Lasso's declaration to implement a series of government actions, which in particular support the development of Ecuador's nascent large scale mining industry, is an extremely positive message to investors, to industry, to the country and especially to its rural communities that Ecuador needs to, and can develop its untapped natural resources effectively and responsibly. The benefits to the nation will be in terms of jobs, provincial economic growth and a significant contribution over time to the country's income to improve the well-being of all citizens. SolGold will continue to comply with its obligations as a partner with the government in this process exploring the mineral potential throughout the country. This activity has as priorities the willingness to work closely and positively with communities and to continue to openly demonstrate to all that care for the environment is an essential consideration for us wherever we operate. SolGold welcomes this unequivocal declaration from Ecuador's President that mining carried out in a controlled and responsible manner must be an increasingly important pillar of Ecuador's economic development for the foreseeable future."
DGR Global Limited ACN 052 354 837
27/111 Eagle Street, Brisbane. QLD, 4000 | GPO Box 5261 Brisbane QLD 4001
P: +61 7 3303 0680 F: +61 7 3303 0681 E: [email protected] W :w www.dgrglobal.com.au
==> picture [71 x 25] intentionally omitted <==
Nicholas Mather, CEO of DGR Global and Founder and Non-Executive Director of SolGold welcomed this announcement and noted, “the approval of the Mining Policy by Ecuadorian President Guillermo Lasso supports the ESG policy that SolGold set up originally and have been implementing since our arrival in Ecuador in 2012. SolGold has always placed the highest importance on creating and maintaining open, respectful, proactive and productive relations with all the communities within which we are present and have taken our social license to operate in Ecudaor very seriously. Mining Policy approvals like this will hopefully lead the rest of the mining industry In Ecuador to recognise that they are guests in this nation and there is a responsibility to act ethically within Ecuador. These large-scale projects will be beneficial to mining companies and also to the Nation of Ecuador.”
2021 Diggers & Dealers
SolGold’s Non-Executive Chairman, Mr Liam Twigger, presented on behalf of SolGold at the 2021 Diggers & Dealers Conference recently convened in Western Australia.
A video of the presentation is available on via this link: https://www.youtube.com/watch?v=1OIOyEbyoDA
DGR Global currently holds 204 million shares in SolGold with a current market value of approximately AUD100m.
The Board of DGR Global will continue to provide the market with material updates in relation to its portfolio of resource industry projects and investments.
This release was authorised by the Board Karl Schlobohm Company Secretary
For further information contact:
Mr Nicholas Mather Karl Schlobohm Managing Director Company Secretary Ph: 07 3303 0680 Ph: 07 3303 0680
Sarah Schuiringa Marketing / PR Ph: 07 3303 0680
Stay in touch:
Website: www.dgrglobal.com.au Email: [email protected] Twitter: @DGRGlobal LinkedIn: www.linkedin.com/company/dgr-global/
DGR Global Limited ACN 052 354 837
27/111 Eagle Street, Brisbane. QLD, 4000 | GPO Box 5261 Brisbane QLD 4001 P: +61 7 3303 0680 F: +61 7 3303 0681 E: [email protected] W :w www.dgrglobal.com.au