Oct 29 2010
Solid Gold Resources Corp. (TSX VENTURE:SLD) will commence trading on the TSX Venture Exchange this morning.
All of the Corporation's mining claims are in good standing. Assessment work conducted and filed for credit over the last year includes:
GROUND WORK 2010
A magnetic, VLF-EM and IP ground survey over 100 metre line spacing was conducted on strike with the North branch of the Porcupine Fault Zone to extend the South Grid to the east. The region hosts several linear zones of low magnetic response and previous drilling indicates potential alteration along branches of the fault. A large area of low magnetic values located in the eastern part of the south grid is interpreted to be due to an underlying felsic intrusive body.
AIRBORNE SURVEY 2010
A High Resolution Airborne Mag and EM survey with 50 metre flight line spacing was completed over approximately 80% of the property. Preliminary analysis from the 3 axis magnetometer and XDS VLF-EM data suggests the area is host to multiple structural targets for follow up drill testing.
DRILLING SOUTH-WEST QUADRANT
Two diamond drill holes were put down in the south west quadrant of the property to test an overburden anomaly (1900 ppb Au) associated with a sediment/volcanic contact that lies 10 kilometres north northwest of the St. Andrew Goldfields Holloway Mine. A third hole was collared to the east in the south central region of the property to test another overburden anomaly (1100 ppb Au). Core from this program (approx 765 meters) was stored for future analysis.
DRILLING NORTH CENTRAL AREA
Two diamond drill holes (approx 800 metres) were completed to test the north central area of the Ghost Range layered Intrusive for the potential of Platinum Group Elements, mineralization that may be associated with such large layered bodies.
The holes described above do not represent target areas outlined in the NI 43-101 Technical report.
CURRENT WORK PROGRAM
- Submission of samples for analysis from the first 5 drill holes.
- Complete the coverage of the property by High Resolution Mag and EM survey.
- Drill test the high priority targets on the South Grid as defined in the NI 43-101 Technical Report (drilling will be directed on a results basis).
- 2000 metre Reverse Circulation program to define trend and extent of the very high overburden anomalies located just south of the south grid (up to 31.0 gt/Au).
Technical data in this News Release was prepared for Solid Gold Resources Corp. by Bill MacRae, P Geo (Ontario) who is the Corporation's Qualified Person as defined by NI 43-101.
Source: Solid Gold Resources Corp.