Vancouver, Canada (PRWEB) January 25, 2006 –-
Solomon Resources Ltd. (SRB:TSX-V) is pleased to announce that Asia Gold has released encouraging drill results from the recently discovered Khongor porphyry copper-gold prospect (see Asia Gold News Release January 9, 2006). The Khongor North prospect extends over two Asia Gold licenses and Khongor South is the southern extension of the same zone, on to Solomon’s Tsakhir license, which is held under Solomon’s Option Agreement with Gallant Minerals. The total strike length of the mineralized zone is now 1,700 meters, with a 600 meter long zone of outcropping copper mineralization present on the Tsakhir License. Asia Gold has an option to earn up to a 70% interest in the Tsakhir License pursuant to an Option Agreement with Solomon Resources and Gallant Minerals. (see SRB News Releases dated August 19, 2005 and September 29, 2005).
Asia Gold’s drill program consisted of 5 HQ size diamond drill holes totalling 935.0 metres and was completed in December 2005. Khongor is located in the Gobi region of southern Mongolia, approximately 350 kilometres west of Ivanhoe Mines’ giant Oyu Tolgoi porphyry copper-gold deposit. (see News Release dated October 18, 2005)
Drill holes KPDH-3 to KPDH-5 were drilled beneath the Central Creek quartz stockwork located in Khongor North, on the Asia Gold licenses. KPDH-3 intersected a strong zone of stockwork style copper sulphide mineralization from surface to 70.3 metres grading 0.67% copper and 0.16 g/t gold. This zone includes a higher grade interval of 21.9 metres (9.1 m to 31.0 m) averaging 1.77% copper and 0.45 g/t gold. KPDH-3 was drilled at an angle of -45 degrees.
Drill hole KPDH-4 was drilled at an angle of -80 degrees from the same location as KPDH-3. KPDH-4 intersected 91.7 metres of lower grade quartz stockwork copper mineralization grading 0.3% copper and 0.03 g/t gold. Drill hole KPDH-5 was drilled at an angle of -45 degrees approximately 75 metres southeast of KPDH-4. Weak copper mineralization occurring throughout the 110.5 metre length of this hole grades 0.15% copper and 0.03 g/t gold.
Drill holes KPDH-1 and 2 were drilled at Khongor South, on Solomon’s Tsakhir license, approximately 600 metres southeast of holes KPDH-3 to 5. These holes were drilled below a 54.0 metre surface rock chip sample line in East Creek with an average grade of 0.72% copper and 0.13 g/t gold. (see News Release dated October 31, 2005). The East Creek drill holes intersected weak copper mineralization associated with crowded feldspar porphyry intrusions.
Summary Drill Results
The mineralized intervals in diamond drill holes KPDH-1 to KPDH-5 are tabulated below.
[see enclosed chart 1]
A 750 line-kilometre ground magnetic survey of the Khongor prospect was completed in November 2005. The survey results clearly outline magnetic intrusions and magnetite alteration related to the copper-gold mineralization. Several high priority targets have been identified for drill testing in 2006. Other work completed in late 2005 included the mapping and sampling of the surface geology, alteration and mineralization.
Asia Gold reports that exploration of the Khongor prospect will be resumed in early spring when conditions again permit cost efficient surface exploration. The 2006 exploration program for Khongor North is currently under discussion with BHPB.
Keith Laskowski, President of Solomon, stated: “These are very encouraging results, from a relatively small drilling program, on a large area of reported alteration. We are anxious to see a thorough exploration program on the entire property later this year.”
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. David C. Owens, President, and Richard Gosse, Vice President Exploration for Asia Gold, both qualified persons as defined by National Instrument 43-101, supervised the preparation of the information in this release.
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 http://www.solomonresources.ca.
Contact Information -
Keith A. Laskowski, President and COO
Direct: 1 720-272-6224
Larry Nagy, Chairman and CEO:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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