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SolGold Plc

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Summary

Project:

Cascabel

Deposit:Alpala
Location:Ecuador
Commodities:Copper-Gold
Date:6/23/2017
Report Code:(no Code)
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:23-6-2017: SolGold Plc announces an Exploration/Drilling Update report for its Alpala deposit at the Cascabel project. JV - Drilling results incl. 776.0m @ 0.58% Cu, 0.30g/t Au from 754.0m. The Board of SolGold (AIM code: SOLG) is pleased to provide an up
Resources:x
CP/QP:[Overall Report]: Nicholas Mather (Internal)
ABSTRACT:The Board of SolGold (AIM code: SOLG) is pleased to provide an update on the assay results from Holes 24 and 25 at Cascabel, the Company's copper-gold porphyry project in Ecuador. Hole 23R assay results are delayed in the laboratory. SolGold's Alpala deposit continues to grow with each new drill hole. Over 39,000m of drilling has been completed to date along the greater Alpala trend. Current drilling focuses on defining the geometry of the growing porphyry copper-gold deposit at Alpala, which is open in virtually all directions. SolGold is a Brisbane, Australia based, AIM‐listed (SOLG) copper gold exploration and future development company with assets in Ecuador, Solomon Islands and Australia. SolGold's primary objective is to discover and define world‐class copper‐gold deposits. The Board and Management Team have substantial vested interests in the success of the Company as shareholders as well as strong track records in the areas of exploration, mine appraisal and development, investment, finance and law. SolGold's experience is augmented by state of the art geophysical and modelling techniques and the guidance of porphyry copper and gold expert Dr Steve Garwin. SolGold was shortlisted as a nominee for the Mining Journal Explorer Achievement Award for 2016. The Company announced USD54m in capital raisings in September 2016 involving Maxit Capital LP, Newcrest International Ltd and DGR Global Ltd, and a USD41.2m raising in June of 2017 largely from Newcrest International with USD1.2m raised from Ecuadorean investors. All of these raisings were undertaken at substantial premiums to previous raisings, and SolGold has circa USD70 million in available cash to continue the exploration and development of its flagship Cascabel Project.

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