Solomon Stakes Rosie Claim Group in Southwest Yukon; Acquires 100% Interest in Grassroots Epithermal Gold Project
18 Julio 2011 - 8:30AM
Marketwired
Solomon Resources Limited (TSX VENTURE: SRB) is pleased to report
that it has acquired by staking a 100% interest in the Rosie Claim
Group located in the Whitehorse Mining District of the Yukon
Territory and comprising 216 claims covering an area of 4515
hectares.
The Rosie Claim Group is located approximately 58 kilometers
north of Destruction Bay and 107 kilometers northwest of the
village of Haines Junction from which the Haines Highway extends
250 kilometers south to the deepwater port of Haines, Alaska. The
Rosie Claim Group includes the easterly tributaries of Tyrell Creek
as well as the two kilometer length of Tyrell Lake which will
provide an ideal staging ground for exploration activity supported
by float plane.
The Rosie Claim Group was staked to protect a highly prospective
epithermal gold target indicated by regional stream geochemical
surveys and the discovery in 2010 by the Yukon Geological Survey of
an outcrop of highly silicified altered quartz feldspar porphyry
near the top of the Ruby Range batholith, likely the result of a
high sulphidation epithermal system. Silicic and potassic
alteration in the outcrop has the appearance of the
high-sulphidization, epithermal style mineralization found above
and adjacent to deeper porphyry systems. The silicic alteration is
likely the result of highly acidic, low pH fluids infiltrating the
host rock.
The Rosie Claim Group is highly prospective for epithermal gold
in quartz stockworks. The regional geology is conducive to
epithermal and porphyry style mineralization in the upper reaches
of the Ruby Range batholith and Rhyolite Creek Volcanic-Plutonic
Complex. Regional stream sediment geochemistry data shows anomalous
gold values coupled with one or more of copper, molybdenum,
arsenic, mercury and antimony. Recent work by the Yukon Geological
Survey suggests a compelling similarity between this portion of the
Coast Belt of Southwest Yukon and the prolific Juneau Gold Belt of
Alaska.
The Ruby Range Batholith is a large plutonic complex which
underlies the south and central portion of the claim group, locally
composed of quartz diorite, tonalite and granodiorite with lesser
amounts of diorite, gabbro and granite. The composition becomes
more felsic up-section to the north culminating in voluminous
amounts of quartzfeldspar porphyry. The Rosie Claim Group includes
outcrop of the Rhyolite Creek volcano-plutonic complex, the
youngest porphyritic phase of the Ruby Range batholith and its
volcanic equivalents and locally consists of intermediate volcanic
flows, breccia and tuff, flow-banded rhyolite and felsic tuff, and
rare mafic flows, breccia and tuff.
To view the Location Map and Images please visit this link:
http://media3.marketwire.com/docs/srb_Fig1-3.pdf
In addition to the newly discovered silicified zone, other
discrete targets exist on the Rosie Claim Group. The contact of the
Rhyolite Creek complex with the Ruby Range Batholith and Devonian
Snowcap Assemblage on the eastern bank of Tyrell Creek encompasses
an historic copper-molybdenum gold mineral occurrence and other
targets in the northwest and southwest portions of the property
include regional stream sediment geochemical anomalies in both the
Rhyolite Creek complex and Ruby Range intrusives.
Historical mineral occurrences in the surrounding area suggest
that prospects formerly thought to represent Casino-style
copper-molybdenum-gold porphyry style mineralization are now
believed to be associated with the upper-most and younger
fractionated portion of the Ruby Range batholith. Historical
regional aeromagnetic data, although fairly coarse, tends to
support the exploration potential of the Rosie Claim Group and
regional airborne magnetometer data flown by the Geological Survey
of Canada released July 14th, 2011, corroborates the targeting of
this property.
Ongoing work by the Yukon Geological Survey has drawn new
attention to the Ruby Range, and recent staking activity suggests
that junior exploration companies looking to acquire new and
prospective ground outside of the heavily staked Dawson Range and
Selwyn Basin Gold Districts of the Yukon are turning their
attention to this region. Shortly after the Rosie Claim Group was
staked, the mineral tenures to the east and north were staked by
competing interests also intent on securing the ground now covered
by the Rosie Claim Group.
Solomon will mobilize an exploration crew to the property on
July 20th, 2011. Exploration will be based out of Silver City,
employing fly camps where practicable. Helicopter support is
available at both Haines Junction and Silver City for crew
deployment. Stream sediment sampling will be used early in the
season to corroborate historical company and RGS anomalies;
prospecting and mapping traverses will narrow down areas for
detailed followup. The 2011 program also contemplates the
acquisition of 400 soil geochemical samples.
QA/QC:
Solomon has implemented quality assurance and quality control
measures in its exploration programs, including the following:
-- All field and data analysis work is carried out under the supervision of
qualified Solomon geologists and geophysicists in accordance with
procedures developed to conform to current 'best practices' in mineral
exploration.
-- Analytical work for this project is conducted by Acme Analytical
Laboratories (Vancouver) Ltd., and ALS Canada Ltd. (Whitehorse) - both
certified analytical laboratories.
-- In addition to internal checks and standards provided by the labs,
Solomon includes blind duplicate and blank samples. All analytical
sample checks and standards are within reasonable limits of error.
Qualified Person:
Randy Rogers, M.Sc., P.Geo., a "Qualified Person" for the
purposes of National Instrument 43-101, Standards for Disclosure
for Mineral Projects of the Canadian Securities Administrators, and
the President and Chief Executive Officer of Solomon, has verified
the data disclosed herein and approved the disclosure contained in
this news release.
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 worldwide. Solomon is managed by a proven team of
exploration geologists involved with the discovery and development
of a number of significant mineral deposits including the Snip and
Eskay Creek deposits in British Columbia and the Brewery Creek
deposit in the Yukon Territory.
Solomon's business model is that of a Project Generator. To
build shareholder value, the Company intends to acquire highly
prospective mineral tenures in stable jurisdictions with the
objective of adding value through grassroots exploration and target
refinement and then seeking option or joint venture partners
through to production.
The Project Generator model is particularly suited to the
Company's ongoing interest in the Yukon Territory where Solomon has
a wealth of intellectual capital and experience.
For additional information visit Solomon's website at
www.solomonresources.ca.
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accept responsibility for the
adequacy or accuracy of this release.
Contacts: Solomon Resources Ltd. Randall S. Rogers M.Sc., P.Geo.
President and Chief Executive Officer (778) 475-5551 (778) 475-5541
(FAX) www.solomonresources.ca
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