Solomon Gold PLC
08 November 2007
Solomon Gold plc appoints new Nominated Adviser and Broker
The Board of Solomon Gold plc (the 'Company') is pleased to announce that it has
appointed RFC Corporate Finance Limited ('RFC') and Hanson Westhouse Limited as
Nominated Adviser and Broker to the Company respectively. Both appointments are
effective immediately.
As part of its appointment, RFC will be issued 500,000, 3 year options to
subscribe for shares in the Company at an exercise price of 20p.
About Solomon Gold plc
Solomon Gold holds extensive tenements on the main Island of Guadalcanal Solomon
Islands, for minerals exploration, focusing on copper and gold rich porphyry
systems and high grade epithermal gold mineralisation. The Company listed on AIM
on 10 February 2006 after a £5m capital raising.
The Company has identified approximately 30 km2 of mineralisation indicative of
significant porphyry copper gold and epithermal gold mineralisation systems and
is currently conducting a three rig program drilling key targets. Solomon Gold
believes the area to host potential for the discovery of a world class copper
gold porphyry and related epithermal gold system, similar to other large ore
bodies in the region such as Ok Tedi, Grasberg and Bougainville, all of which
hosted in excess of 40 million ounces gold equivalent as copper and gold.
These projects exemplify the potential evident on the main mineralised trend on
the Solomon Gold licences on Guadalcanal, Solomon Islands.
The Company is staffed by an active team of expatriate and Solomon Island
geologists and field hands, supported by integrated logistics support services
including a helicopter contract. The program is now augmented by the services of
two drilling contractors operating a total of three rigs for Solomon Gold, and a
helicopter service contract.
It is the current intention of Solomon Gold to define a world class porphyry
copper gold deposit and/or a high grade epithermal gold deposit and ultimately
bring it to production. Solomon Gold has access to the required exploration
development and financing skills to achieve this goal.
The main prospects occur in a north east trending structurally controlled belt
crossing guadalcanal from the Chikora Porphyry Copper prospect in the south, the
Mbina copper porphyry and epithermal gold prospect 2km north, the Sutakiki gold
prospect a further 4km north and the 2m ounce gold resource at Gold Ridge a
further 13 km north.
The high grade gold mineralisation encountered in the recent Solomon Gold
drilling at Sutakiki is characteristic of high grade gold deposits related to
similar mineralised transform structures in Papua New Guinea and the Indonesian
Archipelago.
Qualified Person
Information in this report relating to any exploration results in this report is
based on data reviewed by Mr Nicholas Mather (B.Sc. Hons Geol.), the Chief
Executive Officer of the Company. Mr Mather 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 Mather
consents to the inclusion of the information in the form and context in which it
appears.
Contacts:
Mr Nicholas Mather
CEO
Tel: +61 417 880 448 or nmather@solomongold.com
Mr Duncan Cornish
Secretary
Tel: +61 7 3303 0680 or dcornish@solomongold.com
Mr Stephen Weir
RFC Corporate Finance
Tel +61 2 9250 0048 or Stephen.Weir@rfc.com.au
Mr Bill Staple
Hanson Westhouse Limited
Tel +44 20 7601 6111 or Bill.Staple@hansonwesthouse.com
This information is provided by RNS
The company news service from the London Stock Exchange
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