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 picks up pace of exploration in Central Queensland and Solomon Islands
Cashed up gold and copper explorer, Solomon Gold (AIM Code: SOLG), fresh from a successful placement in July, which raised £1,654,455 and a recent 200,000 ounce maiden gold resource at Rannes, Central Queensland, is picking up the pace of exploration with strong news flow expected for the remainder of 2010.
Nicholas Mather, Solomon Gold chief executive, said: “The current phase of drilling at Crunchie, Central Queensland, Australia, where the Company reported the 200,000oz gold equivalent maiden resource in early June continues to provide positive results."
"Management is continuing to work towards the delivery of an increased resource by the end of the year. Results from the other Central Rannes area prospects are encouraging and the Company aims to include resource estimates from these targets by year-end."
"Spring Creek / Spring Pig at Mt Perry in Queensland is now defined as a significant drill target based on strong gold in soil geochemistry. Further drill targets have been identified at Augustine (nine gold mineralised veins) and at Nicko’s Reward (three gold mineralised breccia zones)."
Solomon Islands
At Fauro Island, Solomon Islands, trenching and sampling has recommenced at eight priority targets outlined by the recent airborne magnetic and electromagnetic survey.
In the Guadalcanal JV with Newmont, which comprises five projects, field exploration work, including drilling, has recommenced on the Guadalcanal, with Newmont as operator.
The exploration program will be focussing on a 3,000m drilling campaign which commenced last
week on the copper gold porphyry targets at the Chikora and Levisivisi Prospects (Koloula project
area). Geological mapping will be conducted on the Mbetilonga and Kuma projects and regional
reconnaissance sampling on Central prospecting licence over the ensuing months to assist with drill
target definition for those areas.
Rannes, Central Queensland Projects (100% Solomon Gold)
The project consists of a series of prospects; Homestead, Kauffmans, Cracklin Rosie, Porcupine and includes the Crunchie deposit where a 200,000oz gold equivalent maiden resource was announced in early June 2010.
The drilled resource at Crunchie has been extended to the east into the El Dente Prospect, where it is not closed off.
Geochemical surveys undertaken at Police Camp Creek, and Pinnacles have defined new targets in preparation for drilling in the next campaign, expected to commence in September / October.
Recent drilling at the Crunchie prospect has been designed to find extensions to the resource or
adjacent repetitions. Vertical holes CRU58 (4m at 1.28g/t Au, 81.8g/t Ag and 2.56g/t Au eq.) and CRU59 (6m at 0.61g/t Au, 47.1g/t Ag and 1.35g/t Au eq.) have located extensions to Crunchie, towards the El Dente Prospect where the mineralisation is open and thickening to the north.
