The Board of SolGold plc announced that channel sampling at the Alpala Prospect within the Cascabel Project in Ecuador has returned highly encouraging gold and copper assays and confirmed the presence of a significant gold-copper porphyry system. Channel sampling was undertaken across an outcropping window of the gold-copper porphyry system which is exposed along Alpala Creek. The mineralised dacite porphyry intrusive exhibits stockwork and sheeted quartz veins containing copper minerals chalcopyrite, bornite and chalcocite.

The outcropping zone is covered by scree and vegetation at both ends and so mineralisation is open. Key features are - 45.63m at 0.81g/t gold and 0.59% copper; Last 2m sample at northern end contains 0.15g/t gold and 0.4% copper; Last 2m sample at southern end contains 0.53g/t gold and 0.48% copper; Peak 1m interval returned a gold assay of 6.89g/t, and a copper assay of 1.7%; Average grade of 0.56% copper and 0.66g/t gold with the peak intersection removed - this underscores the potential for a bulk mineralised porphyry system. A nearby channel also returned 22m at 0.16g/t gold and 0.3% copper, and another 5.48m at 0.75g/t gold.

Alpala Prospect is located within the T1 target which has been identified on the basis of geological and alteration mapping, a compelling magnetic signature and coincidence with strong surface geochemistry (copper, gold and molybdenum). The T1 target is roughly circular with a diameter of 2km.