Shares in copper and gold explorer SolGold plc (LON:SOLG) went north as it updated further on progress of two holes at the Cascabel prospect in Ecuador.
Hole 15R2 at 1,401 metres on April 24, is now at 1595.7 metres and has hit intense visible copper sulphide mineralisation, which is increasing with depth, the firm said. The hole has a planned depth of 1,800m.
Meanwhile, Hole 17, at 519.4 metres last week, is now at a depth of 729.2 metres in visible mineralisation.
Hole 15R2 is targeting extensions of the Alpala deposit to the north, and at depth, from a previous hole, which intersected 1050.8 metres at 0.68% copper and 0.92 g/t gold.
Hole 17 is being drilled from the same pad as 16, has a planned depth of 1,300m, and is targeting upper extensions of strong copper and gold mineralisation intersected in holes 5 and 12, both of which returned world class intersections of over 1000m grading above 1% copper equivalent.
The Cascabel project lies within the northern portion of the Andean copper belt, renowned as the host of 48% of the world's copper production, and numerous Tier 1 global resource assets.
SolGold shares rose 3.55% to 3.65p.