Shot up this morning on exceptional results from samples.....started again...spelling mistake in title, sorry......anyway this is soaring....

SolGold Boosts Budget to Explore for Copper, Gold All Over Ecuador
By REUTERS JUNE 16, 2017, 1:03 pm.

LONDON — Copper and gold explorer SolGold on Friday said it was raising $41.2 million (32.25 million pounds), on top of more than $30 million announced in October, as it widens its search for resources in Ecuador after already finding one world class asset.
Https://www.nytimes.com/reuters/2017/06/16/business/16reuters-solgold-newcrest.html?_r=0

Ecuador has been increasing its profile as a country open to foreign mining and has shifted its resource focus from oil and gas as its reserves dwindle and oil prices stagnate, analysts say.

The world's biggest miner BHP rated SolGold's mineral exploration prospects sufficiently highly to seek a deal but SolGold rebuffed it in favour of an agreement with Australian gold miner Newcrest Mining.

According to a share placement announced on Friday, Newcrest will pay a further $40 million to increase the size of its stake to 14.54 percent as part of a placing to raise a total of $41.2 million.

That adds to last October's agreement that Newcrest would spend $22.86 million buying new shares equivalent to 10 percent of SolGold, while private investment firm Maxit got 4.43 percent of the company for $10.1 million.

CEO Nick Mather said the new placement at a 15.5 percent premium to Thursday's closing price and a discount to SolGold's peak share price of 46.75 pence in May this year was a vote of confidence.

Mather said Ecuador was underexplored, especially compared with Chile, the world's biggest copper producer, where miners have been complaining about dwindling ore quality and rising costs.

.Abundant reserves of gold found in association with copper add to the appeal of mining in a more northerly country.

"The great thing about the North Andean copper belt is it gets increasingly gold-rich," Mather said.

"The copper miners will say the gold will pay for the cost of producing copper and the gold miners will look at it vice versa."

SolGold's flagship project in Ecuador is named Cascabel and exploration so far implies it is a major new high-grade copper and gold find to rival some of the largest existing mines, such as Grasberg in Indonesia, controlled by Freeport McMoran Inc, and Oyu Tolgoi in Mongolia, controlled by Rio Tinto.

With a market capitalisation of more than 500 million pounds ($639 million) on AIM, London's market for growing companies, SolGold is seeking to move to a standard listing on the London Stock Exchange.

Daily Mail gets in on the action...this is big news. Investors will be digesting the impact over the weekend. Next week could see a sharp rise in the sp? imo
SolGold Boosts Budget to Explore for Copper, Gold All Over Ecuador

39.875p +0.75p
bounce continues today as there was a large buyer on the order book @ 40p

order book now is weak, so able to place orders at 39.75p and get it.

39.625p +1.75p

On knowing of un update, the MMs yesterday marked down the stock to get it into their books ahead of the update today ( crooks at work is how many will described it)..........


Cascabel Exploration Update
Ground Magnetics Survey Results and Future Survey Plans

The Board of SolGold (AIM code: SOLG) is pleased to provide an update on the results of the recently completed ground magnetics survey and plans for future geophysics work at Cascabel, the Company's copper-gold porphyry project in Ecuador.

HIGHLIGHTS:
Ø Ground magnetic survey results over Cascabel tenement reveal exciting targets.

Ø Exceptionally high-quality product produced from 650km of total field data acquired at line spacing of 50m.

Ø The ground magnetic data have been processed using several different filtering tools to enhance gradients over a range of wavelengths / depths and improve the detection of structures (e.g., faults and fracture zones) and intrusions.

Ø Ongoing 3D modelling of the magnetic data will enable the direct detection and delineation of magnetite distribution. Initial results are expected soon.

Ø The planned Spartan-Orion hybrid induced polarisation survey will enable the direct detection and modelling of sulphides in 3D to in excess of 3km. This survey can be combined with existing drill-hole logs to construct improved 3D constrained geographical models.

Ø The increased sensitivity of the Spartan-Orion hybrid survey will allow for the production of improved structural and geological rock-type and mineralisation maps.

40.25p +3p

SolGold plc - Cascabel Exploration Update
Drill Hole 23R Assays Results Reveal - Strong High Grade Zone at Alpala

The Board of SolGold (AIM code: SOLG) is pleased to provide an update on the assay results from Hole 23R at Cascabel, the Company's copper-gold porphyry project in Ecuador.

HIGHLIGHTS:

Ø Hole 23R (Rig 1) assay results:
- 1030m @ 1.16 % copper equivalent (0.59 % Cu, 0.90 g/t Au) from 490m;
- 770m @ 1.44 % copper equivalent (0.71 % Cu, 1.16 g/t Au) from 540m;
- 474m @ 1.88 % copper equivalent (0.89 % Cu, 1.57 g/t Au) from 830m;
- 216m @ 3.08 % copper equivalent (1.29 % Cu, 2.84 g/t Au) from 970m.

Ø Hole 23R intersections noted as one of the most outstanding drilling results in copper and gold exploration history (Ref Table 1: Cautionary Notice), totalling 1195 metre-percent copper equivalent.

Ø Mineralisation occurs in a strongly veined quartz diorite intrusive phase, believed to represent the causative mineralised porphyry at Alpala.

Ø Strong mineralised veining cuts the drill core axis at a high angle (Figure 2) indicating strong potential for lateral extensions.

Ø Current drill holes 23R-D1 (Rig 1), 24-D1 (Rig 3), 26 (Rig 4), and 27 (Rig 2) are in progress with all holes intersecting increasingly mineralised diorite porphyry.

Ø Hole 23R-D1 is testing the mineralisation in Hole 23R (this report) to the north-east, and at depth.

References to figures and tables relate to the version of this release on the Company's website (www.solgold.com.au) or visible in PDF format by clicking the link below:

http://www.rns-pdf.londonstockexchange.com/rns/5377J_-2017-6-29.pdf

Commenting on the results, SolGold CEO Nicholas Mather said:
"The results from Hole 23R, the veining at a high angle to the core axis, and the results from Hole 20R to the north strongly suggest extension to Alpala to the north-east. We believe that the core exhibits some strong similarities to the high grade zones at Oyu Tolgoi.

The Alpala high grade zone is getting both richer and larger, and presents increasingly realistic potential opportunities for relatively early and low capital cost, high grade underground mining development."