D'Aguilar Gold Limited (ASX:DGR) Announce Solomon Gold (LON:SOLG) Guadalcanal Joint Venture Exploration Update
Newmont earn in and election to proceed
- Newmont claimed expenditure of US$8.4million to date.
- Newmont election to proceed to 70% by expending total US$12million, two years earlier than required.
- US$6.04million budget in 2011, including a total of 5,600m of drilling, which includes 3,500m at Mbetilonga and 2,100m at Sutakiki.
Vuanimaho drilling progress
- Two diamond drill holes targeting porphyry style mineralisation terminated in fractured altered diorite. Alteration, magnetite, silica veining and sulphide contents increasing at depth in both holes.
- Core samples are to be submitted for assays.
Eastern Corridor mineralisation and Induced Polarisation Survey
- Extensive strong copper arsenic and gold mineralisation in rock chip and soil samples in 3km x 1km zone over north north east oriented Eastern Corridor between Kolokepi and Vuanimaho.
- Mineralised rock chip samples near Ngalimane Creek indicates high sulphidation system related to an intrusive source.
- Induced Polarisation survey currently underway.
- Early IP results indicate structural features coincident with the strongly anomalous copper gold arsenic soil samples in the Eastern corridor at Kolokepi.
- Electrically chargeable body coincident with strong electromagnetic conductor west of Vuralamgomma interpreted as a zone of sulphide mineralisation in clay filled shear zone.
- IP to continue to test an 11km2 zone in eastern Mbetilonga.
- Mapping and sampling to continue to define new drill targets into the Hambusimaloso and Vatuchichi areas to the west and north respectively.
Recommendation to Read Solomon Gold Release
Due to the regulatory limitations placed on D'Aguilar's ability to summarise Solomon Gold's exploration 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: http://www.solomongold.com
D'Aguilar Gold Limited holds 35.2 million shares in Solomon Gold, which equates to 12.5% 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
DGR Global Limited