12th Dec 2006 10:29
Solomon Gold PLC12 December 2006 12 December 2006 Solomon Gold plc ("Solomon Gold" or the "Company") Second drill rig contracted at Sutakiki, Solomon Islands Highlights: • A second drill rig has been contracted to Solomon Gold for the Sutakiki copper gold porphyry exploration program. • The first hole at Sutakiki has reached a depth of 400 metres having first entered quartz - sulphide veining from 90 metres depth. Planned depth is 600 metres. • Ongoing mapping and sampling programs at Sutakiki reveal extensions to mineralisation. Samples up to 150 g/t gold average 46.6 g/t in vein outcrops. The directors of Solomon Gold are pleased to announce that a contract for asecond diamond coring rig at the recently discovered 100% owned Sutakiki goldproject has been signed. Boart Longyear is contracted to provide 5000 metres ofdrilling services. Boart Longyear is one of the most experienced drillingcontractors in the world for campaigns in remote locations and rugged tropicaland wet terrains. The board believes that Boart Longyear's experience in NewZealand, Papua New Guinea, Fiji and Tasmania will provide a basis for thedrilling to proceed at a faster rate than that currently experienced atSutakiki. Solomon Gold recently discovered the Sutakiki porphyry and overprintedepithermal gold zone. This is situated upstream of highly anomalous streamsediment sampling data collected by Newmont in 1988. Mapping and sampling bySolomon Gold has outlined a zone of epithermal gold mineralisation in veinswarms, up to 1500 metres long and 500 metres wide. Sampling in the discoveryzone July and August 2006 returned assays up to 1090 g/t gold and 3.29% copperand averaging 7.5 g/t gold and 0.41% copper over a 100 metres wide and 150metres long zone. The first drill hole at Sutakiki (SK 001) is being drilled under the discoveryoutcrop and entered a zone of prospective quartz veining and mineralisation at adepth of 90 metres. Mineralisation is still being encountered at a depth of 400metres. The true width of the mineralised zone in the drill hole is yet to becalculated but is envisaged to be less than the apparent width in the drillhole. The drill hole is planned to test the zone over a down hole depth of 600metres or more subject to drilling conditions and depth capability of the rig. The second rig is expected to commence work early next year and initial resultsfrom the dual rig program may be expected towards the end of the first quarterin 2007. Additional mapping and sampling in the area has extended the mineralised zone650 metres to the east and confirms the integrity and tenor of mineralisation inthe broadly defined 1500 metres long zone. Six samples taken from narrow veinsoutcropping sporadically over a 60 metres width in a creek on the south side ofthe Sutakiki River returned grades ranging from 2.96 g/t to 150g/t gold,averaging 46.6 g/t gold. Poor outcrop generally hampers surface definition ofthe mineralised zone at Sutakiki, however, management is encouraged by theconsistency of the mineralisation where outcrop is evident. The Sutakiki project is located in the centre of the main Island of Guadalcanal.The project is 25 km south east of the capital Honiara and 12 km south southwest of Australian Solomon Gold Pty Ltd's Gold Ridge deposit (2 million ozgold). Photographs of the core from drill hole SK001 at Sutakiki and a mapshowing the location of the samples reported may be viewed on the website:www.solomongold.com.au At Mbetilonga, 15 km south of the capital Honiara, the Company is conducting acomprehensive review of the data before conducting further drilling programs.The Mbetilonga area has continued to deliver strong surface mapping and samplingcopper zinc and gold anomalies which have not yet been backed up by drill data. Commencement of sampling at Kuma has been delayed, pending official grant of thetenement. Qualified Person Information in this report relating to the exploration results is based on datareviewed by Mr Nicholas Mather (B.Sc Hons Geol.), the Chief Executive Officer ofthe Company. Mr Mather is a Fellow of the Australasian Institute of Mining andMetallurgy who has in excess of 25 years experience in mineral exploration andis a Qualified Person under the AIM Rules. Mr Mather consents to the inclusionof the information in the form and context in which it appears. For further information: Solomon Gold +61 7 3303 0680Nicholas Mather, CEODuncan Cornish, Company Secretary Conduit PR +44 (0) 20 7429 6666 / + 44(0)7739 461 061Abigail Singleton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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