Solomon Announces Follow-Up Drill Program at Bayantsagaan Gold Project, Mongolia
Solomon Resources Ltd. (SRB:TSX-V) will immediately follow-up the encouraging drill results from the recently completed Phase I drill program at Bayantsagaan. Contract negotiations are being finalized and it is anticipated that the company will start drilling by mid-November. The current program is designed to follow-up encouraging gold intercepts from the Bayantsagaan Gold Zone and the new discovery at the Sujegtei Gold Zone, with a minimum four hole program.
Vancouver, Canada (PRWEB) November 10, 2005 -- Solomon Resources Ltd. (SRB:TSX-V) will immediately follow-up the encouraging drill results from the recently completed Phase I drill program at Bayantsagaan. Contract negotiations are being finalized and it is anticipated that the company will start drilling by mid-November. The current program is designed to follow-up encouraging gold intercepts from the Bayantsagaan Gold Zone and the new discovery at the Sujegtei Gold Zone, with a minimum four hole program.
Bayantsagaan Gold Zone
Drill hole BT 07 intersected 54 meters @ 1.44 g/t gold (from 256 – 310m) including 10.8 meters @ 6.29 g/t Au (from 299.2 – 310m). This zone was also intersected in BT-09 (18 m @ 1.42 g/t from 95.2 – 113.2 m) and the zone remains open to the north and down dip.
Sujegtei Gold Zone
The Sujegtei Gold Zone is a “blind discovery” of gold mineralization, as this area had no previous reported mineralization. The zone is defined by drill hole BT-08, the only hole in this new zone, which intersected 20.9 m @ 1.07 g/t Au (from 42.8 – 63.7m), within a broader zone of elevated gold that assayed 51.7 meters @ 0.65 g/t Au (from 22 – 73.7 m). The hole was stopped at a depth of 95 meters, due to broken ground, however the interval 90 – 92 meters assayed 1.2 g/t, indicating additional mineralization may be present in this area and further drilling is warranted.
Keith Laskowski, President of Solomon Resources commented “ We believe these results are very encouraging and we are anxious to step out on these intercepts with additional drilling. Solomon collected oriented core measurements on all veins, faults and breccias in the Bayantsagaan Gold Zone. The intercepts we reported from BT-07 and 09 are very close to true widths, as these holes were nearly perpendicular to the gold zones. The single drill hole we completed at the Sujegtei Gold Zone targeted a major regional fault structure, that is clearly seen in our data. This structural zone extends at least two kilometres along strike, in the area of drill hole BT-08, and the mineralized zone we hit in BT-08 is open in all directions. These factors, combined with the broad intervals of low grade mineralization we intersected in the other holes, indicate that the Bayantsagaan Project has potential to host a significant gold deposit.”
The Company has requested additional metallics assays on the higher-grade intercepts from SGS Analabs Pty. Ltd. in Ulaanbaatar, an accredited Australian laboratory. Drill hole location maps are posted on the Solomon website, within the Bayantsagaan Project description. Solomon can earn a minimum 80% interest in the Bayantsagaan Project through its Option Agreement with Gallant Minerals Ltd. The project is located 35 km southwest of the Boroo Gold Mine, operated by Centerra Gold, and 110 km northwest of Ulaanbaatar
Forward Looking Statements
Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Solomon Resources Ltd. Actual results may differ materially from those currently anticipated in such statements
About Solomon Resources Ltd.
Solomon Resources Ltd. is a Canadian public company focused on the acquisition, exploration and development of gold properties world wide. The Company is managed by a proven team of exploration geologists credited with the discovery and/or development of a number of significant deposits in the world, including the SNIP, Eskay Creek, and Brewery Creek deposits in Canada, the Segala gold deposit in Mali, the Chimney Creek, Mule Canyon, Ruby Hill, Mesquite, and Ortiz gold deposits in the United States, the Gosowong deposit in Indonesia, and the Cadia East deposit in Australia.
Solomon has active copper-gold and gold exploration projects in Mongolia, Australia and Burkina Faso. Solomon Resources Ltd. is a Tier 1 Company listed on the TSX Venture Exchange (TSX-V) and trades under the banner (SRB). For additional information visit Solomon’s website at www.solomonresources.ca.
Contact Information - Keith A. Laskowski, President and COO
Direct: 1 720-272-6224
Larry Nagy, Chairman and CEO:
Office: 604-669-6656
Fax: 604-684-9877
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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