| Solomon Completes 2006 Exploration Work at Chandman Project, Western Mongolia. Copper-Gold Skarn Min |
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Vancouver, Canada, September 7, 2006 Solomon Resources Ltd. (SRB:TSX-V) is pleased to provide results from its 2006 geological exploration work program on the Chandmani Project located within the Lake District of northwest Mongolia, 140 km southeast of the provincial capital of Khovd. The 2006 field work is highlighted by identification of significant copper-gold skarn mineralization in the KY Prospect area, including the 75m long KY Skarn 1 zone that assayed 1.65% copper and 1.71 g/t gold over a sample width of 32 metres. The Chandmani project area includes multiple mineralized prospect areas (Figure 1) spread within roughly 10 kilometres of each other and identified from south to north as:
The property is comprised of 6 mining licenses totalling 58,342 hectares (583 km²), of which 5 licences totalling 35,413 hectares are subject to Solomons Option Agreement with Gallant Minerals Ltd. In July and August 2006, Solomon geologists conducted a field program of property-wide regional geological mapping (1:25,000 & 1:50,000), stream sediment sampling and prospecting. More detailed geological mapping (1:5,000) and rock and soil sampling was completed on each of the KY, Chandmani and Yembuu Tolgoi areas. Descriptions of each of the prospects and available results from the 2006 work are provided below. Results from most of the 2006 KY area rock chip and grab samples are summarized in Table 1 below. Results from the 2006 regional stream sediment sampling and mapping and the Yembuu Tolgoi and Chandmani soil sample grids are pending. A program of follow-up prospecting and soil sampling is planned for late 2006 after all results have been received and compiled. KY Copper-Gold Skarn Prospect The KY (Khavchig Yargait) prospect area was highlighted in 2005 based on the presence of numerous small narrow skarn bodies and porphyry style copper-gold mineralization. The 2006 Solomon work has identified two oxidized, semi-massive sulphide skarn zones (KY-1 and KY-2 skarns) and a third large iron skarn zone (KY 3 skarn) along the western flanking ridges and stream gullies of the Bumbat Hayrhan Uul mountain range. The skarn zones identified to date in the KY area are hosted within stratigraphically repeated, moderate steep west-northwest dipping limestone and limy siltstone beds at the southwest periphery to a large diorite stock. The KY skarns are exposed at varying elevations along a south protruding mountain ridge, spread discontinuously over an area roughly 1 km by 0.4 km. Located roughly 50m above the valley floor, the KY-1 skarn hosts the best mineralization identified to date, assaying 1.65% copper and 1.71 g/t gold over an average width of 32 metres (Table 1). The KY-1 skarn zone is strongly mineralized with malachite, azurite, goethite, limonite, pyrite and chalcopyrite and extends over 75m down the slope of the hillside across a 20m-25m width. Numerous smaller, copper mineralized skarn zones are exposed in the area of the KY-1 zone. The KY-2 skarn includes two parallel skarn alteration layers located near the top of the ridge roughly 300m above and 400m northeast of the KY-1 skarn. The KY-2 skarn is comprised of two sub-parallel skarn horizons developed adjacent to narrow diorite porphyry sills within limestone and limy siltstone. The 55m-65m wide, 450m long Upper KY-2 zone is comprised of sulphide-rich zones within a predominantly magnetite-hematite-pyrite-chalcopyrite calc-silicate skarn. The Upper KY-2 skarn assayed up to a weighted average 1.27% copper and 1.30 g/t gold over 12m. Developed within limy siltstones, the 20-50m wide by roughly 660m long Lower KY-2 skarn is lower in sulphide content, averaging 0.23% copper and 0.33 g/t gold over 34m. The roughly 50m by 225m skarn KY-3, located at the top of the ridge, is predominantly an iron skarn averaging 35.6% iron and low copper and gold. The skarn zones are hosted in multiple limestone horizons within meta-volcanic and sedimentary rocks of the Vendian to Lower Cambrian Dagaan-Del Formation. The chalcopyrite-pyrite-magnetite-calcite and secondary malachite-azurite-limonite/goethite skarn mineralization is hosted within limestone and limy siltstone at contact zones peripheral to the mid-late Cambrian Togtokh Shil diorite to monzo-diorite intrusive complex. The sulphide skarn zones are closely associated with zones of magnetite-epidote-garnet skarn. Probable endoskarn mineralization assaying up to 2.615 g/t gold and 1.57% copper (2005 select sample 29987) has been noted within the diorite intrusive rocks. Mid-late Ordovician subvolcanic diorite sills intrude the Dagaan-Del sedimentary rocks. A summary of sample results is provided in Table 1 attached. KY Copper-Gold Porphyry Prospect Copper and gold mineralization was identified in association with a zone of weak to moderate silica, sericite and carbonate alteration and local disseminated sulphide mineralization within a small, one kilometre diameter granite stock roughly 2 kilometres northwest of the KY skarns. Fracture controlled chalcopyrite, malachite and azurite occurs locally along a 750m by 250m alteration zone within the fine grained, leuco-granites of the midlate Devonian Kharkhiraa intrusives. The granite stock occurs entirely within the Togtokh Shil diorite complex. Results from 23 preliminary grab samples returned average values of 0.10% copper and 0.16 g/t gold with samples ranging to highs of 0.791% copper (2006 sample 51883) and 2.45 g/t gold (2006 sample 51884) respectively. Yembuu Tolgoi Gold Prospect The Yembuu Tolgoi prospect is highlighted by a number of grab samples from quartz veins, including 13.9 g/t gold (2005 sample 50110) collected from large angular quartz vein float. Solomon crews completed a small preliminary soil grid (70 samples total) in an area where Soviet-era investigators reported trace gold in panned concentrates. Results from 2006 field work are pending. The area is underlain by mafic volcanics of the Vendian-Lower Cambrian Tsol Uul formation and mid-late Cambrian diorite of the Togtokh Shil complex. Chandmani Gold Prospect At the Chandmani gold prospect, discontinuous banded, quartz-hematite-pyrite veins are hosted with within and parallel to a 3 kilometre granite sill. The intrusive sill is locally overburden covered, dips moderately to the northwest and varies in width to greater than 30m. Gallant crews identified gold in the area in 2004, and visible gold has been observed in one isolated tuffaceous siltstone hosted limonitic quartz vein where samples have returned values of up to 347 g/t gold (2005 select sample 25913). Trenching completed in 2005 within argillic and sericite altered granodiorite 500m northeast from the sill also produced results of up to 12.4 g/t gold from narrow sheeted veins (2005 select sample 12578). In 2006, crews collected a total of 119 soil samples in the Chandmani prospect area, both from a small preliminary, 30m by 100m grid in the trench area to the northeast (58 samples) and from 50m intervals along the full 3 kilometre length of the sill (61 samples). Results from the 2006 work at the Chandmani prospect are pending. Qualified Person under National Instrument 43-101 David Tupper, P.Geol. a qualified person for the purposes of National Instrument 43-101, 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:
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. Solomons shares trade under the banner SRB on the TSX Venture Exchange (TSX-V). For additional information visit Solomons website at www.solomonresources.ca. On Behalf of the Board of Directors of
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