www.solgold.com.au
Solomon Gold was listed on the London Stock Exchange (AIM code : SOLG) on 10 February 2006.
Solomon Gold is headed up by experienced and committed mining industry professionals with demonstratable track records of mineral discovery and providing valuable shareholder return. The Board of Directors include accomplished professionals with experience in exploration, mine development, investment, finance and law. The Board and Management have significant vested interests in the Company, holding approximately 17.5% of its issued share capital. The Company currently has 284,623,489 shares in issue.
Solomon Gold has Exploration tenements in Queensland, Australia and the Solomon Islands.
Solomon Gold reports encouraging results from Fauro project exploration drilling
Solomon Gold PLC (LON:SOLG) said it is encouraged with the latest results from ongoing exploration drilling at its 100 percent owned Fauro project, Solomon Islands, and the exploration team on Fauro Island is optimistic of further success.
The Fauro project covers seven currently identified prospects of mineralised volcanic rim on the western side - Ballyorlo, Kiovakase, Meriguna, Bataha, Ballteara and two at Northern Fauro - and a further two prospects on the eastern side, over Piru and Masamasa Islands.
Diamond drill hole FDDH003 at the Meriguna prospect intersected 16 metres at 1.11 grammes per tonne gold from 3 metres and 2 metres at 1.57g/t gold from 50 metres.
FDDH005 at Ballyorlo intersected 266 metres at 0.16g/t gold and 0.03 percent copper from 20 metres, including 21 metres at 0.50g/t gold and 0.05% copper from 63 metres, and also 7 metres at 0.50g/t gold and 0.05% copper from 163 metres.
At Ballyorlo East, FDDH006 found 157 metres at 0.42g/t gold from 38 metres, including 45 metres at 1.07g/t gold and 11 metres at 4.03g/t gold from 38 metres, and 5 metres at 0.70g/t gold from 136 metres.
Diamond drill hole FDDH007 at Ballyorlo West terminated at a depth of 544 metres, and assay results are pending. The exploration team found numerous zones of visible disseminated copper mineralisation.
Results are also pending from FDDH008 at Ballyorlo West which terminated at a depth of 335 metres.
Aside from drilling at Fauro, the Ballyorlo prospect trench BLBATR1 found 16 metres at 1.6g/t gold, 5.9g/t silver and 0.03 percent copper, including 2 metres at 6.18g/t gold, 19.2g/t silver and 0.03 copper.
More trenching results are pending from the recent campaign.
A recent review and reinterpretation with an independent porphyry/epithermal consultant, of the data associated with geophysics, soil, rock chip, trenching and drilling, has been completed for the Ballyorlo, Kiovakase and Meriguna prospects in order to generate drill targets and determine the direction of the ongoing exploration programme.
At the Ballyorlo prospect, drill hole FDDH008 has commenced testing in the north-west, while at Meriguna, several holes are proposed to test near surface gold targets in the south.
Solomon Gold is currently sourcing a suitable man-portable rig capable of drilling to depths of 150 metres as a means of testing the near-surface geometry and depth-extent of gold bearing outcropping quartz veins and silica-breccia lodes in existing prospects and new areas to be explored elsewhere in the Fauro Island project.
Solomon is currently progressing four drill programmes for gold, silver and copper in the Solomon Islands and Australia.
