Ten Mile Creek Gold Project and Southwestern Yukon Projects
Vernon,
B.C.: Monday, September 19th, 2011. Solomon Resources Limited (SRB: TSX-V) is
pleased to provide an update on the Yukon Territory exploration programs of the
Company.
TEN
MILE CREEK GOLD PROJECT:
The Ten Mile Creek Gold Project comprises 309 mineral claims located within the
Dawson Mining District of Canada's Yukon Territory approximately 30 kilometers
north-northwest of the White Gold Property of Kinross Gold Corp. and 60
kilometers north of the Coffee Gold Project of Kaminak Gold Corp.
Solomon
holds an option from Radius Gold Inc. (TSX-V.RDU) to earn a 51% interest in the
property.
The
Ten Mile Creek Gold Project is readily accessible by roll-on/roll-off barge
from the Yukon River and serviced by a well maintained airstrip on the Sixty
Mile River.
Solomon's exploration program at Ten Mile Creek is focussed on determining the
extent of historical mineralization on this property including the Jual Vein
System with numerous flat to moderately dipping auriferous quartz veins and
stockworks identified by previous operators which have returned trench results
of 1.6 grams/tonne (g/t) gold over 25 meters (including 11.1 g/t gold over
three meters) and 1.0 g/t gold over 19 meters (including 8.5 g/t over 1.5
meters).
FIGURE 2. Ten Mile Creek Gold Project Claim Boundaries and Logistics.
The
late-season geochemical results from Solomon's 2010 exploration program
suggested that the Jual Vein System might be a very small component of a much
larger gold target extending over an area 1500 meters by 3000 meters in extent.
Three extensive new soil geochemical anomalies were discovered in 2010 within
this broad target area with gold values of up to 1436 parts per billion (ppb)
gold (1.436 grams/tonne)
The
2011 exploration program, which has included expanded soil geochemical grids,
airborne geophysics and geological mapping has demonstrated that these gold in
soil geochemical anomalies are far more extensive than indicated by our
preliminary results at the end of the 2010 season and the pronounced linearity
of the anomalies suggests that the Jual Vein System is the surface expression
of an extensive structurally controlled gold system that dominates the
northernmost portion of the property and extends over an area 2700 meters by 3880
meters in size.
The
Skukum Zone is a sinuous gold in soil geochemical anomaly on the JV
Claim Group with values up to 1436 parts per billion (ppb) gold and the results
of the 2011 field program has extended this anomaly westerly to cover an area
in excess of 2000 meters by 800 meters in extent. The anomaly remains open to
the east and mechanized trenching will be the next step in defining drill
targets in this zone.
The
Jack London Zone, located on the JV Claim Group north of the Skukum
Zone, has been significantly expanded northwesterly in the 2011 field program
to 1600 meters by 600 meters in extent with a peak soil geochemical value of
787 ppb gold. This highly prospective target will be trenched in the next phase
of the exploration program.
A
gold mineralized system completely distinct from the Jual Vein System has been
identified in the southern portion of the property. The Klondike Kate Zone is
an east-west trending gold in soil geochemical anomaly located in the Ten Mile
Claim Group four kilometers east of the Skukum Zone and has been extended
westerly in the 2011 field season to measure approximately 1950 meters by 800
meters in extent with gold in soil geochemical results as high as 698 ppb gold.
This target displays a unique geochemical signature that suggests a different
mineralization event from the other zones discovered to date on the property
and further work is required before we commit to drilling here in the 2012
exploration season.
Solomon
President and CEO Randy Rogers notes: “The greatest challenge this year
at Ten Mile Creek has been the delay in receiving soil geochemical results back
from the analytical labs. The laboratories simply could not keep up with the
volume of samples being submitted from the Yukon this year, and the impact on
the conduct of exploration programs was significant. We are still waiting for
soil geochemical results for Ten Mile Creek.”
Rogers
notes: “We expect to shortly receive the dataset from the 296 line-kilometers
of airborne geophysical survey we conducted this summer over the Ten Mile Creek
Gold Project and will analyze the magnetometer, spectrometer and VLF-EM data in
conjunction with our new geochemical and geological data to best refine targets
for trenching and drilling in the remaining weeks of the 2011 field season and
move towards an expanded Spring 2012 drill program.”
SOUTHWESTERN
YUKON:
Solomon is actively exploring the highly prospective Ruby Range and Kluane
Front Ranges of the southwestern Yukon Territory. The Company is following up
on regional geochemical surveys and historic mineral occurrences, particularly
epithermal gold targets in headwaters of active placer gold camps in the Kluane
Front Ranges and within the Rhyolite Creek Volcanic Complex of the Ruby Range;
orogenic gold targets in the headwaters of active placer gold camps in the
Kluane Schist of the Ruby Range; Nickel-Copper-PGE targets in Late Triassic
Ultramafics and flood basalts in the Wellgreen Trend; Copper-Gold skarn targets
in the Early Cretaceous Kluane Range Group and volcanogenic massive sulphide
targets in lower basalts of the Station Creek Formation and felsic units of the
White River Formation.
Figure
3. Location Map of Solomon Resources Limited Properties in the Southwestern
Yukon Territory
Solomon
has acquired a land package that includes 100% ownership of 1029 mineral claims
and approximately 23,900 hectares including the Pacer Gold Project which is
located within two kilometers of the Alaska Highway and includes an historical
gold occurrence from which earlier operators reported a grab sample of 19.7 g/t
gold as well as high grade copper float in the streambed of Thunderegg Creek.
Solomon
field crews have conducted preliminary exploration on the Pacer, Outpost, Rosie
and Sek mineral claims including soil geochemical grids, geological mapping and
prospecting. Exploration crews will be mobilizing to the Jenn and Seamus
properties this week.
Staking
activity by other exploration companies has increased significantly in this
underexplored area during the summer of 2011 and recent work by the Yukon
Geological Survey suggests a strong correlation between the geological setting
of the Ruby Range and Kluane Front Ranges with the highly prolific Juneau Gold
Belt of Southeast Alaska.
QA/QC:
Solomon has implemented quality assurance and quality control measures in its
exploration programs, including the following:
- All
field and data analysis work is carried out under the supervision of
qualified Solomon geologists and geophysicists in accordance with procedures
developed to conform to current „best practices' in mineral
exploration.
-
- Analytical
work for these projects was conducted by Acme Analytical Laboratories
(Vancouver) Ltd., and ALS Canada Ltd. (Whitehorse) – both certified
analytical laboratories.
-
- In
addition to internal checks and standards provided by the labs, Solomon
includes blind duplicate and blank samples. All analytical sample checks
and standards are within reasonable limits of error.
-
Qualified
Person:
Randy Rogers, M.Sc., P.Geo. a “Qualified Person” for the purposes
of National Instrument 43-101, Standards for Disclosure for Mineral Projects
of the Canadian Securities Administrators, and the President and Chief
Executive Officer of Solomon, has verified the data disclosed herein and
supervised the preparation of the information that forms the basis of the
disclosure contained in this news release.
Forward
Looking Statements:
Some of the statements in this news release may contain forward-looking information,
which involves inherent risk and uncertainty affecting the business of Solomon.
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 quality mineral properties worldwide. Solomon is
managed by a proven team of exploration geologists involved with the discovery
and development of a number of significant mineral deposits including the Snip
and Eskay Creek deposits in British Columbia and the Brewery Creek deposit in
the Yukon Territory.
Solomon's
business model is that of a Project Generator. To build shareholder value, the
Company intends to acquire highly prospective mineral tenures in stable
jurisdictions with the objective of adding value through grassroots exploration
and target refinement and then seeking option or joint venture partners through
to production.
The Project Generator model is particularly suited to the Company's ongoing
interest in the Yukon Territory where we have a wealth of intellectual capital
and experience.
For additional information visit Solomon's website at www.solomonresources.ca
or contact:
Randall
S. Rogers M.Sc., P.Geo.
President and Chief Executive Officer
Phone (778) 475-5551