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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: SOLG
Latest Price: 10.38p  (-2.35% Descending)
52-week High: 34.50p
52-week Low: 7.38p
Market Cap: 29.54M
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Solomon Gold
www.solomongold.com

Solomon Gold holds several tenement positions in the Solomon Islands, for minerals exploration, focusing on copper and gold rich porphyry systems and high grade epithermal gold mineralisation. In relation to its main tenement holdings on the island of Guadalcanal, the Company enjoys a Joint Venture with Newmont Ventures providing for Newmont to earn a 70% interest by expending US$12m over 5 years. Solomon Gold is the current manager. On 2 December 2009, the Company announced the acquisition of two Queensland (Australia) based gold exploration companies, Acapulco Mining Pty Ltd and Central Minerals Pty Ltd.

Full Solomon Gold profile here
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Solomon Gold set to commence airborne survey targeting silicified gold bodies

16th Feb 2010, 9:52 am Solomon Gold set to commence airborne survey targeting silicified gold bodies

Solomon Gold (AIM: SOLG) expects to start its airborne Electromagnetic (EM) Survey at the Fauro Island project on the 18th February 2010. The survey will cover 800 line-kilometres, and an area of 75 square kilometres. The EM Survey has been specifically designed to identify resistors indicating highly silicified bodies, which are believed to be gold bearing.


Fauro lies 82km south east of the giant copper gold mine on Bougainville in neighbouring Papua New Guinea.

Solomon believes that Fauro's geological setting is similar to the giant 40 million ounce (Moz) Lihir deposit, which is located 560km to the northwest. According to Solomon, Lihir and Fauro show similar mineralogy and geological setting, as such the company believes that Fauro has the potential to host a world class gold deposit, similar to Lihir.


The survey will cover the 100% owned Prospecting License No. PL 12/09 in northern Solomon Islands, with the project area spanning 15 square kilometres of the northern peninsular of Fauro Island. The EM survey is planned at 100 metre line spacing, and a closer 50 metre line spacing over the main prospect areas, at an elevation of 50 metres above ground.


The northern peninsula of Fauro and the neighbouring Masamasa Island are the remnant rims of a volcano which gave off silica and gold rich mineral fluids as the volcano waned. Stream sediment sampling in December 2009 identified gold contents between two and six times the levels found in highly anomalous samples on the Guadalcanal project on the main island, 530km to the south east. Furthermore samples of silicified volcanic host rocks on Fauro, taken at the same time, show gold values up to 169 grams per tonne and some samples showed gold visible to the naked eye.


Solomon said it expects to announce its interpretation of the EM data in late March 2010.

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