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 Plc's gold intersections hint at potential of Fauro Island Project
Solomon Gold Plc (LON: SOLG) has intersected 16 metres at 1.11 grams per tonne (g/t) gold and 2 metres at 1.57g/t gold from diamond drilling at its 100%-owned Fauro Island Project in Solomon Islands.
Solomon, which is active in four drill programs for gold, silver and copper in the Solomon Islands and Australia, is currently progressing drilling and reinterpretation work at prospects on Fauro Island which have the potential to host a world class deposit.
Highlights include:
- 16 metres at 1.11g/t gold from 3 metres and 2 metres at 1.57g/t gold from 50 metres at the Meriguna Prospect;
- 266 metres at 0.16g/t gold and 0.03% copper from 20 metres, including 21 metres at 0.50g/t gold and 0.05% copper from 63 metres at the Ballyorlo Prospect; and
- 157 metres at 0.42g/t gold from 38 metres, including 45 metres at 1.07g/t gold and 11m at 4.03g/t gold from 38 metres at Ballyorlo East.
A diamond drill hole at Ballyorlo West terminated at a depth of 544 metres and assay results are pending. Numerous zones of visible disseminated copper mineralisation were also encountered.
The results would provide encouragement and the company is planning a shallow drillhole program for Ballyorlo, Kiovakase and Meriguna to test for a surface oxide gold resource.
In addition, a review and reinterpretation with an independent porphyry / epithermal consultant, of the data associated with geophysics, soil, rock chip, trenching and drilling progress has been completed for the Ballyorlo, Kiovakase and Meriguna Prospects.
This has been done in order to generate on-going drill targets and determine the direction of the on-going exploration program.
Interestingly, Newcrest Mining’s (ASX: NCM) Lihir mine, on the neighbouring Niolam Island of Papua New Guinea, has 28.8 million ounces of gold in Reserves, and 43 million ounces in Measured and Indicated Resources.
The Fauro Project covers the seven currently identified prospects of Ballyorlo, Kiovakase, Meriguna, Bataha, Ballteara and two at Northern Fauro.
