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Vancouver, Canada, October 27, 2005 – Solomon Resources Ltd. (SRB:TSX-V) is pleased to provide
results from its confirmation sampling work on its Chandmani Project in northwest Mongolia. Solomon
acquired the project through its Option Agreement with Gallant Minerals Ltd, which includes 22 projects. The
project area contains Paleozoic sedimentary and volcanic rocks, with extensive limestone, which has been
intruded by diorite-granodiorite stocks, of inferred Paleozoic age. The project contains significant potential
to host copper-gold skarn and porphyry deposits, and structure-hosted high-grade gold deposits.
The Chandmani Project contains 5 exploration licenses, totalling 35,413 hectares (354 km²) located within
the Lake District in northwestern Mongolia. The project is 140 km southeast of Khovd City, which has
regular scheduled air service from Ulaanbaatar.
The Chandmani project area was first investigated in 2004 when Gallant staff located three areas containing
gold mineralization, identified from west to east as:
• The Chandmani Gold Prospect
• The Khavchig Yargait Copper-Gold Prospect
• The Yembuu Tolgoi Gold Prospect.
In July 2005, Solomon conducted field programs of confirmation sampling and limited hand trenching that
has confirmed the presence of significant gold values, with results to a high of 347 g/t gold. A description of
each of the prospects and details of the results of the 2005 work are provided below.
Chandmani Gold Prospect
Multiple, discontinuous gold-quartz-pyrite veins occur within a 4.5 km² area, underlain by Paleozoic
intrusive, sedimentary and volcanic rocks. Solomon collected 17 grab samples (including 6 duplicate
samples) and 28 continuous chip samples (including 2 duplicate samples) of bedrock. Of the 73 total samples
(including 8 duplicates) collected to date, over a 2.5 km by 1.0 km area, 23 samples assayed greater than 0.5
g/t gold. Results range from below detection to a high of 347 g/t gold. The highest value is from a grab
sample of a quartz-pyrite vein. Copper values range up to 8,280 ppm, but are typically below 300 ppm.
An 81.0 m long, northeast-southwest trench (CH-T-01) was hand dug by Solomon crews in the area where
previous grab samples returned results of 70.3 g/t gold and 27.9 g/t gold. Samples from weathered and
oxidized granite and quartz vein bedrock produced a weighted average result of 0.482 g/t gold over 14.5m
(from 20.0 to 34.5m) and includes a 2.2m section that averaged 2.365 g/t gold. In the location of the 70.3 g/t
result from the 2004 sampling, two 0.10m quartz veins at 69.4m and 69.7m assayed 13.3 g/t gold and 45.7 g/t
gold, respectively.
The 2005 re-sampling program generally confirms the presence of significant gold mineralization, however
duplicate grab sample assays results contain high variability, compared to the 2004 grab samples, as shown in
the following table.
Chandmani Duplicate Grab Sample Comparison |
2005 Solomon |
2004 Gallant |
Percent
Variation |
Duplicate
Sample No. |
Au
(g/t) |
Sample No. |
Au
(g/t) |
29971 |
0.525 |
25902 |
1.235 |
-58% |
29967 |
2.539 |
25904 |
0.805 |
+215% |
29970 |
0.846 |
25961 |
2.959 |
-71% |
29977 |
0.866 |
25911 |
0.962 |
-10% |
29968 |
347 |
25913 |
17.8 |
+1,849% |
29973 |
0.086 |
32175 |
0.926 |
-90% |
The Chandmani Prospect area requires systematic soil, rock and trenching programs to select drill targets.
Khavchig Yargait Copper Gold Prospect
The Khavchig Yargait prospect area includes a large area with skarn and porphyry style copper-gold
mineralization. A total of 12 samples, including 3 samples of over 1.0 g/t gold, have been collected in the
prospect area over an area of slightly less than 6 km2. Initial, reconnaissance work has identified five
individual, narrow skarn bodies, measuring up to 400 m in length. Sampling by Solomon has confirmed
values in grab samples up to 1.57% copper with 2.6 g/t gold (2005 sample 29987) from garnet skarn.
Reconnaissance mapping has also identified potassic-altered intrusives, containing up to 0.23% copper and
0.116 g/t gold (2005 sample 29985). The Khavchig Yargait area contains significant potential for discovery
of additional skarn bodies, and possible porphyry copper gold mineralization. Due to the large area of
mountainous terrain, a stream-sediment sampling program in combination with airborne magnetics is planned
to explore this area.
Yembuu Tolgoi Gold Prospect
The Yembuu Tolgoi prospect contains extensive covered areas with discontinuous massive quartz veins,
hosted in a volcanic, sedimentary and intrusive host rocks. A total of 17 grab samples and 3 float samples
have been collected on the property, including 4 samples that assayed over 1.0 g/t gold. Solomon collected 9
samples, including 2 duplicate samples, containing gold values up to 13.9 g/t from large angular float (2005
sample 50110). Copper values are generally below 300 ppm, but range up to 1,270 ppm. A detailed stream
sediment sampling program is planned to identify all areas with mineralization. Results will be followed up
with detailed prospecting and geochemical programs.
Qualified Person under National Instrument 43-101
David Tupper, P.Geol. a ‘qualified person’ for the purposes of National Instrument 43-101 Standards of
Disclosure for Mineral Projects, has verified the data disclosed, including sampling, analytical and test data,
contained in and supervised the preparation of this news release.
QA/QC
Solomon has implemented quality assurance and quality control measures in its exploration programs, including
the following:
- All field work is carried out under the supervision of Solomon geologists in accordance with procedures
developed to conform to NI 43-101.
- All analytical work is being completed at SGS Analabs Pty. Ltd. in Ulaanbaatar, and accredited
Australian laboratories. In addition to the standard internal check and repeat assays undertaken by SGS
Analab, Solomon’s staff submitted their own blind standard and blank check samples at a rate exceeding
1 in 10. All check sample results received are within acceptable limits of variability.
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
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 significant gold exploration projects in Mongolia and Australia. Solomon’s shares trade under
the banner SRB on the TSX Venture Exchange (TSX-V).For additional information visit Solomon’s website at www.solomonresources.ca.
Contact Information
Keith A. Laskowski, President
Direct: 720-272-6224
Phone: 604-669-6656
Fax: 604-684-9877
Email:
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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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