| Solomon Completes First Phase of Ten Mile Creek Gold Project |
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Diamond Drilling to Commence by August 30th, 2010 Armstrong, B.C., Thursday August 19th, 2010. Solomon Resources Limited (SRB: TSX-V) is pleased to announce that the first phase of the 2010 field exploration program on the Ten Mile Creek Gold Project which comprised soil geochemical surveys, geophysical surveys and mechanical trenching has been completed. Diamond drilling is planned for the second phase of the 2010 program. The Ten Mile Creek Gold Project is located within the Dawson Range of Canada‟s Yukon Territory approximately thirty kilometers north-northwest of the White Gold Property of Kinross Gold Corp. and sixty kilometers north of the Coffee Gold Project of Kaminak Gold Corp. Solomon has acquired an option from Radius Gold Inc. (TSX-V.RDU) to earn a 51% interest in the Ten Mile Creek Gold Project as previously reported. The Ten Mile Creek Gold Property was originally staked by Teck Resources Limited in 1998 during which time Teck also staked the area now covered by the White Gold Property (formerly held by Underworld Resources Ltd.) Teck explored the Ten Mile Creek Property from 1998 to 2000 with geological mapping, soil and rock sampling and limited trenching and identified five diamond drill targets. Teck changed global exploration priorities in 2001 and the property has never been drilled. The primary target for the 2010 exploration season was the Jual Vein System, characterized by numerous northwesterly trending, flat to moderately dipping quartz veins, stockworks and fault zones with gold values ranging from 8 to 16 grams per tonne (g/t) gold. Strong northwest-trending gold-in-soil geochemical anomalies with values up to 670 parts per billion gold cover an area measuring 1.4 kilometers by 0.6 kilometers. Historical trenching of peripheral and lower-order gold-in-soil anomalies yielded results of 1.6 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 objective of Solomon‟s 2010 field exploration program was to verify the results reported by former operators and refine diamond drill targets. A contract has been negotiated for diamond drilling on selected targets within the property, and drilling is expected to commence within the next two weeks. Solomon‟s President and CEO Randy Rogers has just returned from a due diligence inspection of the Ten Mile Creek Gold Project and reports: “Our 2010 field program has not only confirmed the very compelling anomalies upon which Teck Resources had contemplated a diamond drill program, but identified previously unknown strongly anomalous targets that warrant rigorous follow-up. It is readily apparent that surface geochemical and geophysical surveys in concert with mechanized trenching have refined the identification and priorization of diamond drill targets, and that it was prudent for Solomon to continue surface exploration of this property before committing to a drill program.”
Exploration by Teck in the late 1990‟s discovered anomalous zones of gold and arsenic in soils which were thought to be associated with a series of Cretaceous granitic intrusions located on the Ten Mile property. With the recent exploration interest in the White Gold area and the ongoing search for possible bedrock sources of historical Klondike placer gold deposits, the Solomon program was directed at re-evaluation of the historical mineralized zones on the property in the light of new geological, structural and mineralogical information gained from exploration at other projects in White Gold Camp. Mapping by Solomon field crews in the current program has determined that the project area is underlain predominantly by Devonian to Mississippian orthogneiss and schist, with a younger Cretaceous aged intrusion underlying a significant portion of the southernmost Ten Mile claims. At least three phases of structural deformation exist, with predominantly NNW, NNE and E-W faulting. Later stage dykes cross cut the property in a northerly direction. Mapping of the area proved difficult due to a paucity of outcrop, and geochemical soil sampling and ground geophysical surveys were largely employed to identify anomalous zones, as well as mechanized trenching to expose subsurface material for sampling and assay. Geochemical soil samples were collected by Solomon field crews as well as Groundtruth Exploration (a subsidiary of Ryanwood Exploration) crews from the adjoining Dime Property of Stina Resources Ltd. On Solomon‟s Ten Mile Creek Gold Property 2,400 soil samples have been collected to date this season. Twelve mechanized trenches have been excavated: eleven on the northernmost JV claims and one on the southernmost Ten Mile claims. A total of 1100 meters of trenching have been sampled and sent for assay.
On the JV claims a pronounced linear gold in soil geochemical anomaly has been exposed in the northern part of the claim group, and trenching with a Kubota tracked excavator has exposed complex thrust faulting and strike-slip faulting within schists and gneiss. Sampling of the trenches returned many anomalous results, the best being 1.5 g/t gold over 2.0 meters in Trench JV-10-07. Limonite staining and a visible fault plane striking in an east-west direction are associated with this mineralization. In Trench JV-10-01, a zone of 0.45 g/t gold over 12.0 meters was returned within a zone of intense silicification and stockworking. Trench JV-10-04 returned 0.26 g/t gold over 10.0 meters and in Trench JV 10-10, a value of 0.36 g/t gold over 10 m was returned. All the trenches had anomalous gold values and mineralization consistently appeared to be structurally controlled.
In the southern portion of the JV claims a large silicified shear zone approximately 35 meters wide is evident displaying evidence of strike slip movement in a NNW direction and associated Reidel Shearing. Sampling has been carried out across this zone, and results are pending. Out of the 1,333 assay results received to date on the Ten Mile and JV claims, 87 have returned greater than 40 ppb Au, with the largest result being 697 ppb. Arsenic values correlate well with the observed gold values, with a highest value of 969 ppm Arsenic (As) being recorded. As soil geochemical analyses and trench assays continue to be received Solomon field crews will continue to compile property data, but at this stage of the program we have sufficient anomalous data to warrant a diamond drill program on the more compelling anomalies. Solomon has contracted Kluane Drilling Ltd. to commence diamond drilling on selected targets within the next two weeks. Shared mobilization with Stina Resources‟ planned drill campaign on the adjoining Dime property will reduce mobilization and overhead costs for both operators. Rogers noted: “The Ten Mile Creek Gold Project is readily accessible by roll-on/roll-off barge from the Yukon River, and our exploration camp at the junction of Ten Mile Creek and the Sixty Mile River has been supported this season by fixed wing aircraft based out of Dawson City utilizing a gravel airstrip. A second airstrip is located further south on the claim group, and the project area is readily traversed by the gravel roads and tote trails that are a legacy of the rich placer gold mining history of the Ten Mile Creek Camp.”
Qualified Person: Forward Looking Statements: About Solomon Resources Ltd.: For additional information visit Solomon‟s website at www.solomonresources.ca or contact: Randall S. Rogers, President and Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accept responsibility for the adequacy or accuracy of this release.
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