Drill Program Continues at Baruunbayan Uranium Project in Mongolia
posted on
Jun 16, 2008 07:22AM
A Canadian company focused on the acquisition, exploration and development of quality mineral properties world wide.
Solomon Resources Limited |
Unit 3 – 2860 Smith Drive, Armstrong, British Columbia, V0E 1B1, CANADA Telephone (250) 546-4772 Telecopier (250) 546-6656 Web Site: www.solomonresources.ca NEWS RELEASE Drill Program Continues at Baruunbayan Uranium Project in Mongolia Three Downhole Gamma Spectrometer Anomalies Reported in 2008 Drill Program to Date June 16 th 2008 Trading Symbol: TSX-V.SRB Armstrong, BC - Monday, June 16 th, 2008. Solomon Resources Limited (SRB: TSX-V) is pleased to report that diamond drilling continues on the Baruunbayan Uranium Project in Mongolia.
Solomon holds seven mineral licences covering 356,603 hectares in Mongolia comprising four distinct properties: Baruunbayan, Zamtiin Gol, Airag and Uvurkhangai Properties. Background: Solomon‟s Baruunbayan Property and the adjacent Dulaan Uul Property of Cogegobi XXK (an Areva subsidiary) lie within the Unegt Depression, a broad basin approximately 100 kilometers in length and 60 kilometers in width extending from the Solomon tenures in the southwest to the Cogegobi tenures in the northeast. Results of the 2007 exploration program have been reported previously (Solomon News Release dated April 9 , 2008.) Current Exploration Program: The 2008 drill program is designed to test the stratigraphy and uranium mineralization potential of a broad area within the Ooshiin Govi Basin, located at the southwestern end of the Unegt Depression. Favourable stratigraphy has been observed in the majority of the holes drilled to date in the 2008 drill campaign and assays are pending for selected sample intervals. Figure 1. Location Map: Ooshiin Govi Drill Plan – Baruunbaayan Project
th
DDH |
Easting UTM |
Northing UTM |
Elevation (meters) |
Dip (degrees) |
Length (meters) |
Date Started |
Date Completed |
BB-10 |
344857 |
4861053 |
763 |
(-) 90 |
230.55 |
April 30, 2008 |
May 2, 2008 |
BB-11 |
346767 |
4861069 |
774 |
(-) 90 |
279.55 |
May 3, 2008 |
May 7, 2008 |
BB-12 |
347603 |
4857573 |
785 |
(-) 90 |
201.10 |
May 7, 2008 |
May 9, 2008 |
BB-13 |
343050 |
4857597 |
763 |
(-) 90 |
276.45 |
May 9, 2008 |
May 12, 2008 |
BB-14 |
352175 |
4852152 |
792 |
(-) 90 |
271.15 |
May 12, 2008 |
May 15, 2008 |
BB-15 |
341152 |
4865250 |
758 |
(-) 90 |
301.00 |
May 16, 2008 |
May 20, 2008 |
BB-16 |
335646 |
4860639 |
752 |
(-) 90 |
129.80 |
May 20, 2008 |
May 22, 2008 |
BB-17 |
336450 |
4863399 |
768 |
(-) 90 |
255.25 |
May 22, 2008 |
May 24, 2008 |
BB-18 |
344850 |
4868351 |
754 |
(-) 90 |
201.95 |
May 24, 2008 |
May 27, 2008 |
BB-19 |
349909 |
4854844 |
786 |
(-) 90 |
268.55 |
May 27, 2008 |
May 30, 2008 |
BB-20 |
345323 |
4861841 |
760 |
(-) 90 |
235.20 |
May 30, 2008 |
June 2, 2008 |
Table 1: Ooshiin Govi Drill Collar Data Two drill holes completed in the current campaign DDH-BB-14 and DDH-BB-17) have been previously reported as returning encouraging down hole gamma spectrometric anomalies (Solomon News Release dated June 2
nd
, 2008.)
Figure 2. Drill Section DDH-BB-20 showing downhole gamma survey.
DDH-BB-20, completed June 2
, 2008, returned down hole gamma readings of 200 counts per second (cps) in an isolated spike at 186.0 meters depth; another isolated spike at 195.0 meters depth of 120 cps, another isolated spike at 203.0 meters depth of 150 cps, and a significant reading of 410 cps from 213.5 meters to 215 meters (a 1.5 meter interval) in moderate yellowish brown, yellowish gray fine grained sandstone.
Figure 3. Solomon’s Mongolian field crew examine drill core at Ooshiin Govi.
Solomon‟s President Randy Rogers observed: "It is worth noting the tremendous size of the Ooshiin Govi Basin: we are drilling holes with step-out distances up to four kilometers and have only scratched the surface of the preliminary Ooshiin Govi target area measuring twenty by twelve kilometers in extent. The nature of large tonnage, low grade roll front uranium deposits as seen in the adjacent Dulaan Uul property of Cogegobi and the better understood rollfront uranium deposits of Kazakhstan and North America suggest that we have a lot of drilling yet ahead of us. Our licences in the Baruunbayan Project alone total 248,300 hectares of highly prospective ground."
Other field work underway at the Baruunbayan Project includes compilation of Soviet-era geological and geophysical data, ground magnetometer and radiometric surveys, detailed geological mapping and alpha cup surveys.
Qualified Person:
Randy Rogers, M.Sc., P.Geol. a "Qualified Person" for the purposes of National Instrument 43-101,
of the Canadian Securities Administrators, and the President and Chief Operating Officer of Solomon, has verified the data disclosed herein including sampling, analytical and test data and supervised the preparation of the information that forms the basis of the disclosure contained in 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 may contain forward-looking information, which involves inherent risk and uncertainty affecting the business of Solomon. 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 quality mineral properties world wide. Solomon is managed by a proven team of exploration geologists involved 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 is currently focused on the exploration of copper-gold projects in British Columbia and Ontario, a coal project in British Columbia, a tin project in Alaska and uranium projects in Mongolia. Solomon‟ shares trade under the banner SRB on the TSX Venture Exchange (TSX-V).
For additional information visit Solomon‟ website at
or contact either:
Lawrence J. Nagy, Chairman and Chief Executive Officer
Phone: 250-546-4772
Randall S. Rogers, President and Chief Operating Officer
Phone: 250-558-8952
Email:
rrogers@solomonresources.ca
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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