Sign up Australia
Proactive Investors - Run By Investors For Investors

D’Aguilar Gold Ltd to benefit as Solomon Gold shares soar in London

Although less known to investors till now, D’Aguilar is building a treasure trove of projects and investments, targeting very large, provinces with potential to make world‐class discoveries.
D’Aguilar Gold Ltd to benefit as Solomon Gold shares soar in London

D’Aguilar Gold (ASX Code: DGR) will receive a boost from last night's announcement by Solomon Gold Plc (LSE(AIM: SOLG) on assay results from Fauro Island, as Solomon's shares soared on the London Stock Exchange, at one stage nearly doubling and closed up 62% for the day.

As it was, Solomon Gold topped the list of LSE risers. D’Aguilar Gold holds 35.2 million shares in Solomon Gold, which equates to 15.6% of the issued capital.

The reason for the rise?

Solomon Gold said that Fauro Island has the potential to host a world class gold deposit with geological similarities to the 40 Moz (million ounce) Lihir Island gold mine, which was indicated by the first 58 of the total 215 samples taken at Fauro.

The “exciting” results indicated the potential for a large gold deposit similar in style to Lihir Island in Papua New Guinea, also highlighting the molybdenum mineralisation discovery at Ballyorlo.

The best results included 173 g/t (grammes per tonne) gold from the Meriguna prospect and 139 g/t gold from Hornbill.

Other significant results ranged from 11.4 g/t gold to 69.4 g/t gold and up to 0.2% copper in the Meriguna, Hornbill and Kiovakase prospects.

The samples have also shown that the Ballyorlo prospect yields up to 0.43% molybdenum and defined the Hornbill prospect over a 300 by 400 metre zone.

“Coincident magnetic anomalies and copper, gold and molybdenum values in porphyry style rocks with disseminated sulphide mineralisation strongly supports the presence of high tonnage porphyry copper, gold and molybdenum targets on Fauro,” said chief executive Nicholas Mather.

Further 157 results are expected shortly.

Solomon Gold plans to commence the third exploration programme later this month, while drilling at Fauro is planned for late 2010.

The company will revisit prospects from the August campaign as well as two eastern Fauro prospects, Piru and Masa Masa Islands, marking its first campaign in these areas

D’Aguilar Gold also holds 50 million shares (48%) in Mt Isa Metals Limited (ASX: MET) embarking on a gold strategy in Burkina Faso.  D’Aguilar is also progressing the IPO and ASX listing of subsidiaries AusNiCo Limited (nickel and cobalt) and Navaho Gold Pty Ltd (gold and silver). AusNiCo Limited has lodged its Prospectus. 

Further, D’Aguilar has announced the proposed merger of its 86% owned Ridge Exploration (iron ore, titanium and aluminium) with Canadian‐listed Coltstar Ventures Inc.

View full DGR profile View Profile

DGR Global Timeline

October 29 2015
November 28 2014

Related Articles

manganese 25th element on periodic table
April 09 2018
The company is seeking shareholder approval to be renamed Element 25 Limited.
gold mine
September 07 2018
The company says it is on track to hit production targets for 2018 of 27,000 ounces of gold and 1.7mln ounces of silver
Thor Explorations' Segilola high grade pit offers strong return on investment
June 13 2018
The 100% owned project sits on a 27 sq km exploration licence containing a 17 sq km mining licence

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) 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 understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

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.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use