Solomon Resources Limited (TSX VENTURE: SRB) 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. 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).
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.
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.
To view Figures 1, 2 and 3 associated with this release, please
visit the following link:
http://media3.marketwire.com/docs/srb919i.pdf.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accept responsibility for the
adequacy or accuracy of this release.
Contacts: Solomon Resources Limited Randall S. Rogers M.Sc.,
P.Geo. President and Chief Executive Officer (778) 475-5551
778-475-5541 (FAX) www.solomonresources.ca
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