SOURCE: SolGold plc

July 26, 2017 02:29 ET

SolGold plc: Cascabel Exploration Update

LONDON, UNITED KINGDOM--(Marketwired - Jul 26, 2017) - SolGold plc (TSX: SOLG)

TSX : SOLG

26 July 2017
SolGold plc
("SolGold" or the "Company")

Cascabel Exploration Update

Alpala Central Resource Estimate December 2017
Alpala Southeast Growing with Hole 24-D1R
Alpala Northwest Confirmed by Hole 26
More Drill Rigs for Alpala Expansion

The Board of SolGold (AIM and TSX code: SOLG) is pleased to provide an update on the drilling progress of current holes 23R-D1, 24-D1R, 26, and 27 at Cascabel, the Company's 85% owned copper-gold porphyry project in Ecuador.

HIGHLIGHTS:

  •  Hole 23R-D1 (Rig 1) extending Alpala Central to the east, continuing in a mineralised diorite intrusion at 1351.6m down hole.

  •  Hole 24-D1R (Rig 3) extending Alpala Southeast mineralisation to depth, below Hole 24 intercept, continuing in a mineralised diorite intrusion 1067.9m down hole.

  •  Hole 26 (Rig 4) extends Alpala Central deposit 100m to the northeast, and continues further to confirm the modelled deposit at Alpala Northwest, as drilling continues within strongly mineralised diorite porphyry 1875.9m down hole.

  •  Hole 27 (Rig 2) completed at 1614.3m extending Alpala Central deposit 100m southeast of Hole 21, and 250m southeast of Hole 16.

  •  Hole 28 (Rig 2) underway, testing extensions above Hole 16 (which returned 894m @ 1.41% copper equivalent). Currently at a depth of 276.4m.

  •  Hole 29 (Rig 5) being set up to test high grade extensions along Alpala Central deposit eastern flank.

  •  Rig 6 scheduled for arrival at Alpala in August as negotiations with a second drilling contractor progress rapidly towards increasing productivity with a total of up to 9 drill rigs on site in September 2017.

Commenting on the current drilling, SolGold CEO, Nick Mather said:
"Hole 26 is particularly exciting for us, demonstrating clear extension of Alpala to the northwest, with much more intense mineralisation than evident in Holes 11 and 13, which we now suspect drilled over the top of the large high grade zone at Alpala Northwest."

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/1139M_1-2017-7-26.pdf

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