Cacharposa has an indicated open pit resource of 396.8 million tonnes grading 0.35% copper and 0.14 grams per tonne gold for 0.44% copper equivalent containing 1.40 Mt of copper and 1.8 million ounces of gold. It also hosts 96.9Mt grading 0.29% copper and 0.12g/t gold in inferred resources.

The deposit has grade exposed at surface over a 650m strike length. Open pit optimisation studies identified a potential near surface starter pit of 44Mt grading 0.44% copper and 0.34g/t gold and an additional potentially open-pittable higher grade zone containing 181.3Mt grading 0.37% copper and 0.23g/t gold.

"Whilst the strong grades exposed at surface at Cacharposa attest to the economic potential, the Porvenir project continues to grow and with numerous other nearby mineralised targets identified, we believe the Porvenir project has the potential to become a very significant copper-gold porphyry camp," said CEO Darryl Cuzzubbo.

SolGold said drilling continues at Porvenir with one drill rig operating at Cacharposa and two rigs at the nearby Mula Muerta satellite target.

Shares in SolGold are trading at C40c, valuing the company at $934 million.