Vancouver, Canada (PRWEB) January 15, 2006
Solomon Resources Ltd. (SRB:TSX-V) is pleased to announce the results from its second phase of drilling at the Bayantsagaan Gold Project, located 110 km northwest of Ulaanbaatar and 35 km southwest of Centerra Gold’s Boroo gold mine. Solomon completed three additional core holes totalling 618 m in December 2005, stepping out on mineralization identified in the first phase of drilling on the property. The December drill program was suspended due to winter conditions and the seasonal break.
Two areas of gold mineralization have been identified: the north-south trending Bayantsagaan gold zone, and the recently discovered, northeast trending Sujegtei gold zone, 600 m to the northwest (SRB News Release November 2, 2005). Gold mineralization at Bayantsagaan is hosted in structural zones, within and adjacent to granitic intrusions, similar to the deposits at Boroo and Gatsuurt. Sericite-quartz-sulfide alteration minerals are present over large areas and contain variable grades of gold mineralization.
Drilling will resume with a ten hole RC drill program when weather conditions improve and will test the strike extensions of the Bayantsagaan and the Sujegtei gold zones, most notably 600 m to the northeast where these two mineralized systems intersect (see attached Map).
Bayantsagaan Gold Zone
The Bayantsagaan gold zone strikes N10°W and dips 60º NE. Gold mineralization has been traced 300 m down-dip over a strike length of 300 m in five prior drill holes. One additional hole completed in this second phase of work (BT-11) was collared 50 m to the north and intersected the Bayantsagaan zone approximately 310 m down dip. The following significant results were obtained:
From To (m) Width g/t Au
BT-11 21.00m 43.65m 22.65m 0.25g/t
59.70m 67.40m 7.70m 0.23g/t
127.40m 137.40m 10.00m 0.32g/t
175.40m 195.00m 19.60m 0.18g/t
244.20m 303.00m 58.80m 0.26g/t
Inclu- 287.00m 295.00m 8.00m 1.05g/t
ding 308.80m 332.70m 23.90m 1.46g/t
Inclu- 311.70m 314.30m 2.60m 9.23g/t
ding 352.70m 356.70m 4.00m 0.30g/t
360.70m 373.80m 13.10m 0.30g/t
Drill hole BT-11 confirms the extension of the both the higher grade main gold zone, and the presence of extensive low grade mineralization within subsidiary structures throughout the intrusive. The system contains a higher grade structural zone that remains open both along strike and at depth, is continuous between drill hole intercepts and is enveloped by lower grade material.
Sujegtei Gold Zone
The Sujegtei gold zone is a covered mineralized zone discovered by Solomon during the first phase of drilling when drill hole BT-08 intersected 20.9 m @1.07g/t Au. The hole was collared to test a northeast trending structural zone, interpreted beneath colluvium (SRB news release November 2, 2005). Two additional holes were attempted in December to determine the trend of mineralization in the subsurface. Drill hole BT-10 was drilled beneath BT-08 to the east, and BT-12 was drilled to the northwest. Both holes failed to reach their targeted depth due to extensive faulting and broken ground indicative of a major fault system. The following significant results were obtained:
From To (m) Width g/t Au
BT-10 20.20m 24.00m 3.80m 0.57 g/t
BT-12 75.80m 86.00m 10.20m 0.18 g/t
89.60m 100.60m 11.00m 0.33 g/t
102.60m 112.80m 10.20m 0.19 g/t
Based on these results, it can be inferred that the Sujegtei gold zone strikes northeast with a sub-vertical dip. The zone remains open to the northeast, southwest, and at depth. Drilling was stopped in mid-December due to winter conditions and the seasonal break.
Qualified Person under National Instrument 43-101
All gold values reported here are from 30 g fire assays, using a 0.1 g/t low grade cut-off. All assay intervals are based on core intervals. David Tupper, P.Geol. a ‘qualified person’ for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects, has verified the data disclosed, including sampling, analytical and test data, contained in and supervised the preparation of this news release.
Solomon has implemented quality assurance and quality control measures in its exploration programs, including the following:
- Drilling was completed under the supervision of Solomon geologists, by Landrill International of Moncton, New Brunswick.
- All field work is carried out under the supervision of Solomon geologists in accordance with procedures developed to conform to NI 43-101.
- All analytical work is being completed at SGS Analabs Pty. Ltd. in Ulaanbaatar, and accredited Australian laboratories. In addition to the standard internal check and repeat assays undertaken by SGS Analab, Solomon’s staff submitted their own blind standard and blank check samples at a rate exceeding 1 in 10. All check sample results received are within acceptable limits of variability.
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.
Solomon Resources Limited
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 significant gold exploration projects in Mongolia and Australia. Solomon’s shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomon’s website at http://www.solomonresources.ca.
Contact Information -
Keith A. Laskowski, President
Larry Nagy, CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.