Solgold Share Discussion Threads

[lefrene] 05/10/2018 11:51

If they intend passing the hat around again, then plainly they need to get all the good news that they can into the arena first.

[mwv1] 05/10/2018 11:44

Balanced between fear and greed today. The National bank of Canada note states fund raising in this quarter.I think most probably in the next 2 weeks. This is the fear, at what discount will it be - last time was.about 20%, but will current excitement allow them to get it.away at a smaller discount?

The greed comes from the last 2 notes from Liberium and NBoC at 69p and 56p. Both allow for considerable further upside. One being based on MRE1 x 1.5 - I expect MRE x 2 to 2.5. The other based on an NPV of $1.5billion and NM expecting an NPV of $4billion.

[yufff] 05/10/2018 11:41

It’s going to be a nice Xmas present to us all from Solgold

[onedayrodders] 05/10/2018 11:34

Well I doubt the majority will be checking page 12 of the annual report and NM was keen in his last few global presentations to say that it was coming November so slightly irritating but in the grand scheme of developments not an earth shattering delay.

[jerryspaniel] 05/10/2018 09:50

I agree that the industry will get 64. But the mkt is being valued by PIs atm. Sadly not instos and atm not by bhp/Newcrest st al.
I will be buying at 32 or on a bid. Otherwise just waiting for Nov or Dec or whenever....

[lefrene] 05/10/2018 09:40

jerryspaniel, I'm sure BHP understand hole 64. Since the value here is down to the interest of would be miners, I feel that the people who really count understand very well what's on offer and how it is evolving. It's for NM to get the stock out of the cellar, pile it high and put it on display.

[mam fach] 05/10/2018 09:38

JS. Been holding SOLG through thick and thin for at least 10 years.
14p.2p.46p.20p.
No,I don't have to be a shareholder.
But I'M a believer.
Pity an RNS doesn't move share price as it once did.
Said many, many times = hold on to your shares.
Also, it's not too late to buy.

[wisteria2] 05/10/2018 09:23

Not bad come on peeps, and only a day between November-December ...

Ø Hole 57 high grade intercept: 304m @ 2.52% CuEq (1.15% Cu, 2.18g/t Au);

Ø Hole 41-D1-D2 high grade intercept: 340m @ 1.54% CuEq (0.78% Cu, 1.21g/t Au);

Ø Hole 41-D1 high grade intercept: 252m @ 1.53% CuEq (0.86% Cu, 1.07g/t Au).

[jerryspaniel] 05/10/2018 09:02

Maybe This needed to go out for the options trading that is upcoming but it’s been overtaken by NM saying he expects doubling of resources in mre. I don’t think that mkt understands relevance of hole 64 and this hasn’t helped. So all in all bit of damp squib.

[mknight] 05/10/2018 08:56

Has promised the market to double. Does he need more drilling to keep that promise .

[mknight] 05/10/2018 08:45

Does not help when a week ago in Canada he is telling everyone it would be out in November and it would be double .peeps now thinking maybe less than double.

[cool hand kev] 05/10/2018 08:45

Why don't they stop drilling and start producing?

[7rademark] 05/10/2018 08:29

Market doesn't like the delay.

[mknight] 05/10/2018 07:52

Update put back until December

[simon_carter] 05/10/2018 07:34

Another nice piece of news to keep things ticking along

[mirabeau] 05/10/2018 07:17

Bank of Canada now uprated to $.90 from $.60

[mirabeau] 05/10/2018 07:12

BHP will be SALIVATING!!



SolGold PLC
Cascabel Exploration Update-MRE Revision Dec 2018
RNS Number : 9584C
SolGold PLC
05 October 2018


5 October 2018

SolGold plc

("SolGold" or the "Company")



Cascabel Exploration Update

Alpala Mineral Resource Update for December 2018



The Board of SolGold (LSE and TSX code: SOLG) is pleased to provide an update on recent drilling at the Company's Cascabel project in Northern Ecuador.



HIGHLIGHTS:



Ø With over 124,000m of drill hole assays now received, a further 70,400m of drilling has been added to the existing Alpala Maiden Resource during 2018 of 5.2Mt of copper (2.3Mt Indicated, 2.9Mt Inferred) and 12.3MOz of gold (6Moz Indicated, 6.3MOz Inferred) (published January 2018 - refer Table B in the Notes to Editors for full details).

Ø Approximately 32,000m of further drilling set to be completed at Alpala in 2018, significantly adding to the Mineral Resource Estimate ("MRE") update.

Ø Updated Mineral Resource Estimate projected for completion and release December 2018.

Ø Recent drilling highlights include Hole 55R-D1 (869m @ 0.72% CuEq, including 378m @ 1.17% CuEq), Hole 58-D1 (983m @ 1.08% CuEq, including 456m @ 1.71% CuEq), and Hole 66 (634m @ 1.25% CuEq, including 301m @ 1.88% CuEq and 174m @ 2.46% CuEq open at depth).

Ø Hole 66 intersects rich porphyry style mineralised zone containing visible gold.

Ø Hole 64 intersects new zone containing primary bornite mineralisation at Alpala NW.

Ø Assay turnaround reduced to 3 weeks.

Ø Internal geology, grade and resource modelling indicates potential for significant growth in total metal inventory at Alpala at all cut-off grades.



References to figures and tables relate to the version visible in PDF format by clicking the link below:











Commenting on today's release, SolGold CEO, Mr Nick Mather said: "The results from these latest drill holes are very encouraging, with several notable drill hole results outside the previous resource area, such as Hole 64, which last week intersected primary bornite mineralisation deep at Alpala NW.



The 2018 drilling campaign at Alpala will add approximately 105,000m of drilling to what we believe is already one of the top five undeveloped Cu-Au resources in the world. Initial results of internal modelling updates at the Alpala Deposit suggest that an MRE update planned for release in December could deliver significant resource growth, and the conversion of a large amount of tonnage into the Indicated category. We expect the MRE update to validate a far more robust high-grade core, and an additional, (much shallower) second high-grade "western lobe" extension to the high-grade core.



The Company continues to press its first-mover advantage in Ecuador. Its wider exploration efforts beyond Cascabel, that have only just scratched the surface, have yielded several very encouraging porphyry and epithermal targets, which we believe places Ecuador at the forefront of prospectivity."



FURTHER INFORMATION

The Cascabel Project is located on the northern section of the prolific Andean Copper belt, renowned as the base for nearly half of the world's copper production. The project area hosts mineralisation of Eocene age, the same age as numerous Tier 1 deposits along the Andean Copper Belt in Chile and Peru to the south. The project base is located at Rocafuerte in northern Ecuador, approximately three-hour's drive north of Quito, close to water, power supply and Pacific ports (Figure 1). SolGold holds an 85% registered and beneficial interest in ENSA (Exploraciones Novomining S.A.) which holds 100% of the Cascabel tenement.



SolGold is encouraged by the outstanding infill drilling results, which are expected to expand and enrich the existing high-grade resource. The Company is also excited about notable drill hole results outside the previous resource area, such as Hole 64, which last week intersected primary bornite mineralisation deep at Alpala NW. The discovery of primary bornite-chalcopyrite assemblages with magnetite and in the absence of pyrite, is indicative of the high temperature core many porphyry systems, and warrants follow up drill testing and may lead to unearthing further evidence of a second system adjacent to the Alpala Deposit (Figure 3).



Hole 66 extended the high grade core of the deposit towards the southeast at depth and intersected a zone of visible gold associated with porphyry style chalcopyrite and bornite mineralisation. Very high gold grades in the core and periphery of the deposit at Alpala can be associated with related to intermediate- to high- sulfidation state sulfide-mineral assemblage associated with a phyllic alteration over-print, and is a feature common in many of the world's richest porphyry deposits, like Oyu Tolgoi, Grasberg and Wafi-Golpu (Figure 4).



Highlights of assay results expected to add to the existing MRE at Alpala are detailed in Figure 5.



Drill hole location plans showing resource shells from the existing December 2017 Mineral Resources Estimate against current in-house models highlight resource growth predicted at cut-off grades of 0.15%CuEq and >1.5%CuEq (Figures 6 and 7).



Section (A-A'), looking northeast, through the high-grade core of the deposit (Figure 8), shows an example of infill drilling resulting in a potentially more robust, richer high-grade core of the Alpala Deposit, as exemplified by:

Ø Hole 57 high grade intercept: 304m @ 2.52% CuEq (1.15% Cu, 2.18g/t Au);

Ø Hole 41-D1-D2 high grade intercept: 340m @ 1.54% CuEq (0.78% Cu, 1.21g/t Au);

Ø Hole 41-D1 high grade intercept: 252m @ 1.53% CuEq (0.86% Cu, 1.07g/t Au).



A total of 12 drill rigs are currently in operation on the project, with the entire fleet moved back to Alpala in order to expedite drilling ahead of planned December Mineral Resource Estimate. Secondary targets at Cascabel, including Aguinaga, Trivinio, and Moran are planned for drill testing as the Alpala resource development program allows.



The Company is currently changing out 2 track mounted drill rigs for man-portable drill rigs, with the first replacement man-portable now mobilised to site. The Company is increasing its man-portable portion of the Cascabel drill fleet to increase flexibility in rig movements and siting, as well achieving a higher metre rate at lower cost.



A maiden Mineral Resource Estimate (MRE) for the Alpala deposit, estimated from the initial 53,616m of drilling and released in December 2017, comprised a contained metal content of 2.3 Mt Cu in the Indicated category and 2.9 Mt Cu in the Inferred category and 6.0Moz Au in the Indicated category, and 6.3Moz Au in the Inferred category (all at 0.3% CuEq cut off). Refer to Table B in the Notes to Editors for full details.



An updated Mineral Resource Estimate is expected to provide a significantly greater resource base for the project upon completion of approximately 14,000m of further planned drilling in December 2018. The Company will assay 100% of metres drilled (148,000m) at the project, with 24,000m of drilling currently awaiting assay results. The assay backlog is set to clear before December 2018, with ALS Global having completed the commissioning of larger preparation facilities in Ecuador (Figure 2). Assay results for drilling on the Cascabel Project are currently performed by ALS Global in Lima, Peru.



During September 2018, BHP Billiton purchased a 6% stake in the Company. Commenting at the time of the acquisition, BHP Billiton's CEO noted that this investment would give BHP exposure to a high quality copper exploration project in Ecuador, which is a highly prospective location for BHP, and that, consistent with their positive long-term outlook, copper is a key exploration focus for BHP as they seek to replenish their resource base.

-

[jerryspaniel] 04/10/2018 21:23

Hey mam fach, you aren’t forced to be a sh. There is always a bid for the non believers. If you are genuinely concerned, sell.

[mam fach] 04/10/2018 20:25

Very hard to stay positive.
Confirmation after confirmation of size of discovery.
Yet share price nowhere near where it should be.

[onedayrodders] 04/10/2018 19:40

mam fach4 Oct '18 - 12:46 - 13327 of 13334

was only thinking 1-2p but will be happy to be wrong

lefrene ..was thinking more of drilling updates not options