D'Aguilar Gold Limited (ASX:DGR) Provide Solomon Gold Plc (LON:SOLG) Guadalcanal Project Update
- New targets emerging on a 3km long eastern Mbetilonga structural corridor based on mapping, sampling and geophysical modelling.
- Drilling continues at the Chikora Prospect, within the Koloula Project.
- 88m of rock saw channel, 143 soil sample results and 650m drill core assays for the Chikora Prospect are awaited from Newmont for work completed to the end September 2010.
- 468 soil samples, 67 rock chip samples and 1,200m of trench samples were completed at the Mbetilonga Project in September, with analytical results still pending from Newmont.
- Additional work in October at Mbetilonga and Chikora includes 172 soil samples and a further 550m drill core from Chikora.
- 2,100m of ridge and spur sampling, additional mapping and rock chip sampling and 112 extra soil samples from the Mbetilonga East Corridor area are also planned.
Commenting on the recent reports for the GJV Projects, Nicholas Mather, Chief Executive of Solomon Gold plc said: "Solomon Gold is pleased with the progress made by Newmont in the field in Guadalcanal.
Solomon Gold is waiting for a total of 2,616 sample results from Newmont (881 from Chikora and 1,735 from Mbetilonga) to assist drill targeting."
Due to the regulatory limitations placed on D'Aguilar's ability to summarise these results, shareholders are encouraged to read the full Solomon Gold announcement. The announcement can be viewed in full under the "Latest News" section of the Solomon Gold website: solomongold.com D'Aguilar Gold Limited holds 35.2 million shares in Solomon Gold, which equates to 12.6% of the issued capital, following Solomon Gold's recent successful A$24 million capital raising.
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
Newmont Mining Corp
DGR Global Limited