Solomon Gold Plc (LON:SOLG) Announces Maiden Resource Estimate
The Estimate was completed by Hellman & Schofield Pty Ltd, an independent geological consultancy and has been classified as Inferred for reporting under the JORC Code for Reporting of Mineral Resources and Ore Reserves widely accepted as a standard for professional reporting purposes.
The key points of Solomon Gold's announcement included:
- Maiden Resource Estimate completed for the Crunchie Prospect only;
- Inferred Mineral Resource of 5.6Mt at 1.12g/t equ. Au for 201,648oz of contained equivalent gold (0.20g/t equ. Au cut-off grade);
- A series of multiple prospects in close proximity to the Crunchie Prospect, providing excellent potential for a significant expansion of the existing resource inventory;
- Core drilling reveals mineralisation with compelling similarity to the Carlin Style deposits in Nevada, USA; and
- 20,000m drilling campaign on targets close to Crunchie to commence immediately.
The announcement can be viewed on the London Stock Exchange (LON:LSE) website under the Solomon Gold code of SOLG, or in the "Latest News" section of the Solomon Gold website at:
Following the recent sale of its subsidiary Central Minerals Pty Ltd to Solomon Gold, D'Aguilar Gold Limited holds 32.9 million shares in Solomon Gold plc, which equates to 17.05% of the issued capital.
About DGR Global Limited
DGR Global (formerly D’Aguilar Gold Limited) (ASX:DGR) is focused on generating exploration and development companies in a wide array of minerals.
Projects are conceived directly through the skills and experience of D’Aguilar’s accomplished team of exploration geoscientists (with an enviable track record), not by the costly purchase of properties. Each project or exploration strategy is held in a separate subsidiary.
Focused and specialist management is then engaged in the subsidiary, with project specific finance raised in the subsidiary – faster and less dilutive to D’Aguilar. As the subsidiary project develops and starts to derisk the subsidiary is separately capitalised (seed raisings followed by an IPO).
Investors can choose to invest specifically in a particular project/commodity, or by investing in D’Aguilar, invest in the resource company generating business which retains a significant carried interest in each project.
D’Aguilar projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel. While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, D’Aguilar subsidiary projects frequently emerge from detailed reassessment and reinterpretation of large databases – looking at things from a new angle and with a different focus using state of the art techniques. The D’Aguilar Directors and Managers have in the past applied new exploration models to extensive tenement areas which have led to identification of new mineral provinces and the discovery of nationally significant resources. Similar efforts are now being dedicated to D’Aguilar.
Solomon Gold Plc
London Stock Exchange Group plc
DGR Global Limited