Proactiveinvestors recommends
Additional Information
Market:AIM
Sector:Gold Mining
EPIC:SOLG
Latest Price: 4.88  (-2.50% Descending)
52-week High:24.13
52-week Low:4.75
Market Cap:15.32M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
SolGold Full SolGold profile here

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. 

 

Pdf

Solomon Gold hits more high grade gold and silver at Kauffmans Homestead prospect

Tuesday, August 23, 2011
Solomon Gold hits more high grade gold and silver at Kauffmans Homestead prospect

Solomon Gold PLC (LON: SOLG) has intersected further high grade gold and silver from drilling an additional 18 holes at the Kauffmans-Homestead prospect at its Rannes project in Queensland.

Only last month, the company reported high grade intercepts from the deep drilling at Kauffmans and today it said previously unreported drilling found 10 metres with 4.02 grams per ton gold and 24.5 g/t silver from 116 metres, including 4 metres with 9.65g/t gold and 30.7g/t silver from 118 metres in hole KAU96.

Results from hole KAU98 include 5.61 g/t gold and 21.4g/t silver from 124 metres in the top percussion drilled section and 24 metres with 3.28g/t gold and 9.8g/t silver from 277 metres in the deeper core drilled section.

The firm is targeting a resource of more than 2 million ounces of gold overall at Rannes and the Kauffmans-Homestead prospect is an important part of the 3,306 square kilometre project.

The campaign at Kauffmans-Homestead is below the estimated inferred resource of 9.04 million tonnes at 0.85g/t gold equivalent for 247,044 ounces of contained equivalent gold and the deeper drilling aims to expand this current gold equivalent resource for the prospect to 550,000 ounces.

Chief executive Nick Mather said "following the company's announcement made in July, where further encouraging high grade gold and silver results from the deeper drilling were reported, the board is pleased to report again on encouraging high grade intercepts at Kauffmans-Homestead. 

“Further drilling of the nineteen prospects so far defined at Rannes is planned to meet the company's gold target of 2 million ounces in the Central Rannes Area, the board is confident that the currently defined gold and silver system at Central Rannes gives way to deeper high grade epithermal gold mineralisation in the boiling zone of these epithermal gold-silver systems."

Solomon Gold has both reverse circulation and diamond drill rigs currently active at its Central Rannes project.  The RC rig is drilling to define gold and silver mineralisation in areas of coherent high order gold in soil and across its 30 kilometre long newly defined gold province centred on Rannes in Central Queensland.

The diamond drill rig is drilling deep extensions of mineralisation under the existing Kauffmans resource.

Broker Fairfax hailed the "good drill results" saying that following on from the data in July, they should provide the basis for a resource upgrade at Kauffmans prospect and towards its overall resource target at the Central Rannes project.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.