- Mining company SolGold said drilling had commenced at its Porvenir project in Ecuador's southern copper-gold province.

An initial drill hole was at current depth of 16.7m as part of a planned 8,000m initial drilling program.

'We are very excited to see commencement of drilling at Target 15 in Porvenir because the hole 1 target is of very high quality,' regional exploration manager Chris Connell said.

'The coincident geophysical and geochemical anomalies over an extensive surface outcrop that returned an open-ended ore-grade intercept of over 140 metres at about 0.7% copper equivalent, is an extraordinary target,' he added.

Connell said the target potentially represented a large exposed porphyry copper-gold deposit and a second major porphyry discovery for the company within Ecuador.

At 9:09am: [LON:SOLG] SolGold PLC share price was -0.17p at 26.38p

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