14th Nov 2006 09:00
Solomon Gold PLC14 November 2006 November 13th 2006 Solomon Gold plc Operations Update Drilling commences at Sutakiki for Solomon Gold plc Highlights •Drilling operations commenced at Sutakiki gold target •Recent landslide exposures indicate extensions to porphyry mineralisation •Access agreements with Kuma Valley people finalised •Gold targets defined for drilling at Mbina, Koloula Valley Sutakiki The Directors of Solomon Gold plc ("Solomon Gold" or "the Company") advise thatdrilling operations on the Guadalcanal, Solomon Islands gold project have movedto the Sutakiki gold prospect, 30km south of the capital Honiara. The decisionto move the drilling program from the Mbetilonga area 15 km south of Honiara wasbased on the return of high gold and copper sampling results from the Sutakikiproject area over the last three months, as announced on 14 September 2006. Highgrade gold and copper mineralisation has been defined in a zone up to 500 metreswide and 1,500 metres long in a 4 km2 mineralised porphyry system at the head ofthe Sutakiki Valley. The Directors believe the area has the potential to host aworld class gold and copper deposit. The Company plans to drill 10,000 metres of core in 20 holes across the zone. Itis envisaged that the holes will test the target to a depth of 600 metersmaximum downhole. The first two holes will test the depth extent ofmineralisation underneath the discovery area where a zone of high gradeepithermal (low temperature) quartz and sulphide veins cut the mineralisedporphyry over a zone 1,000 metres long and 150 metres wide. The contracting of asecond drilling rig to continue drilling at Mbetilonga has been agreed inprinciple and it is expected that operations will commence with the second rigearly in 2007. Solomon Gold's operations have been hampered recently by torrential rain andrelated landslides. Field work was also curtailed recently by fuel shortages asa result of contaminated fuel supplies to the island. Solomon Gold also recentlysuspended field operations in the Sutakiki Valley for a short time to mark withrespect the passing of Paramount Chief Moro, the head of the Sutakiki Valleypeople. The Company wishes to record its sorrow and deep regret at the passingof Chief Moro, under whose guidance the Company was fortunate to gain access toSutakiki. It is expected that Solomon Gold will continue to work closely withthe Sutakiki people in the maintenance of cooperative access. The recent rain and related landslide events have resulted in the exposure ofconsiderably more of the mineralised porphyry system at Sutakiki and whilemapping and sampling are hampered by safety issues, the quartz-sulphide veiningand mineralisation previously identified appears to be more extensive to thesouth of the Sutakiki River than was previously realised. Kuma At Kuma, documentation witnessing the access agreement has been executed by theCompany and the local people. A Custom Ceremony marking the agreement has alsobeen held. Mbina, Koloula Valley At Mbina, the Company has completed detailed mapping, sampling and drilling padconstruction in preparation for the drilling of three holes to test the copperrich zone at depth on the west side of the Koloula river and the gold rich halozone on the east side of the Koloula River and Mbina porphyry. Recent samplingduring a program to define drilling targets yielded rock chip samples of goldmineralised veins and dykes of intrusive porphyry up to 9.4 g/t gold. The goldrich zone is up to 1,200 metres long and 300 metres wide and hosts three 300 x300 metre zones yielding consistent rock chip results over 1 g/t gold from veinsamples. Previous sampling of the porphyry system in the zone in 1997 yielded upto 235 metres @ 0.5g/t gold. Drilling of these targets is planned for the near future. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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