Appointment of Chief Geologist and Project Search

RNS Number : 9450Y

Solomon Gold PLC

08 March 2012

 



8 March 2012

Solomon Gold Plc

("Solomon Gold" or the "Company")

Dr. Bruce Rohrlach appointed as Chief Geologist as Solomon Gold advances global search for gold-copper opportunities

Solomon Gold plc (AIM code: SOLG) is pleased to announce the appointment of Dr. Bruce Rohrlach in the role of Chief Geologist, and reports on the acceleration of the Company's global search for new gold-copper opportunities.

Dr. Bruce Rohrlach has joined Solomon Gold following a demonstrable and successful career in mineral exploration, having spent 14 years with WMC Resources, subsequently as an exploration consultant, and most recently as part of the discovery team of the 1.7 billion tonne Tujuh Bukit gold-copper deposit, Indonesia.  Dr. Bruce Rohrlach completed his PhD on the 2.9 billion tonne Tampakan copper-gold deposit in the Philippines.

Since joining the Company, Dr. Bruce Rohrlach has focussed on the review of the Company's existing projects, together with the assessment of new gold-copper opportunities which may provide Solomon Gold with further growth opportunities through discovery.

Solomon Gold has recently accelerated its search for new gold-copper opportunities.  Due diligence activities are currently underway on several opportunities in Southeast Asia, and in the Americas.  Solomon Gold will update the market as these opportunities are assessed, and when any of these opportunities advance to the point of Letters of Intent.

The current status of the Solomon Gold new opportunity search is shown in Figure 1 on version posted on the Company's website (see the 'Latest News' section on the website, www.solomongold.com), and was included in the most recent corporate presentation.

Qualified Person

Information in this report relating to the exploration results is based on data reviewed by Mr Malcolm Norris (B.Sc. Hons, MSc), the Chief Executive Officer of the Company.  Mr Norris is a Fellow of the Australasian Institute of Mining and Metallurgy who has in excess of 25 years' experience in mineral exploration and is a Qualified Person under the AIM Rules.  Mr Norris consents to the inclusion of the information in the form and context in which it appears.

By order of the Board

Karl Schlobohm

Company Secretary

Contacts:

Mr Karl Schlobohm                                                                                                        Tel: [phone]

Solomon Gold Plc (Company Secretary)

[e-mail] 

Mr Ewan Leggat                                                                                                                Tel: [phone]

Fairfax I.S. PLC (Broker)

[e-mail] 

Mr Stephen Weir                                                                                                            Tel: [phone]

RFC Corporate Finance (Nominated Advisor)

[e-mail] 

Mr Dominic Barretto                                                                                                      Tel: [phone]

Yellow Jersey PR (PR & IR)

[e-mail] 

NOTES TO EDITORS

Solomon Gold's exploration projects are located in Queensland, Australia and the Solomon Islands.  In Australia, they comprise the Rannes, Mt Perry, Cracow West and Normanby Projects.  In the Solomon Islands they comprise the Fauro Project (located on Fauro Island), and the Guadalcanal Joint Venture with Newmont Mining Corporation.

At the Rannes project Solomon Gold has announced Inferred resources of 25.5 million tonnes at 1.0 g/t gold equivalent (gold + silver) for 812,000 ounces of gold equivalent (486, 935 ounces of gold and 13,014,294 ounces of silver; see announcement dated 30 November 2011 for details of the resource statement and gold equivalent ratios).  The 2012 exploration program, including drilling to define new ore positions and grow the resource, has commenced.

Exploration continues at Mt. Perry, Normanby and Cracow West with drilling expected to commence in Q2 2012.

In the Solomon Islands, final data from the 2011 exploration program on the Fauro project has been reviewed and plans for 2012 are being prepared.  The 2012 Guadalcanal Joint Venture exploration program with NVL Solomon Islands Limited (a subsidiary of NYSE-listed Newmont Mining Corporation) has commenced with drilling on highly prospective gold-copper porphyry targets expected to resume in April 2012.

Solomon Gold's strategy is to be an integrated gold and copper explorer, developer and miner.

Solomon Gold's Board includes accomplished professionals with strong track records in the areas of exploration, mine development in Australasia and Melanesia, investment, finance and law.  Board and Management have significantly vested interests in the Company holding approximately 17.5% of its issued share capital.

Solomon Gold is based in Brisbane, Queensland, Australia.  The Company listed on London's Alternative Investment Market in 2006, under the AIM Code 'SOLG' and currently has 313,381,934 shares on issue and 11,264,000 options exercisable at 50p on issue.  Further details concerning the Company's key projects and personnel can be found at www.solomongold.com.

 

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