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Fauro Gold Project

High Grade Epithermals on the Rim of Fire

Fauro Island – A Lihir look-alike? ■ Rim of Fire setting, 80 km south-east of Bougainville deposit ■ Gold anomalism in drainage 2 to 6 times Guadalcanal ■15km2 of mineralised volcanic rim ■ Key prospects at Hornbill, Meriguna, Ballyorlo, Kiovakase and Bataha ■ Epithermal sulphide gold mineralisation ■ Gold in silica soaked porous volcanics breccias and agglomerates ■ Alluvial gold potential ■ Rock chip results to 169 g/t ( >5 oz /t ) gold - visible ■ Airborne Electromagnetics to light up gold deposits ■ EM and magnetics in Feb 2010, drilling to follow

Fauro lies 82km southeast of the giant copper gold mine on Bougainville, in neighbouring PNG, and Solomon Gold geologists believe Fauro to represent a gold rich high level variant sitting above a porphyry system similar to Bougainville. Fauro’s geological setting is similar to the giant 40m oz Lihir deposit, 560km to the northwest. Lihir and Fauro show similar mineralogy and geological setting, and Solomon Gold believes Fauro to have potential to host a world class gold deposit with geological similarities to Lihir.

The northern peninsula of Fauro and Masamasa Island, 5km east are the remnant rims of a volcano which gave off silica and gold rich mineral fluids as the volcano waned. Stream sediment sampling in December 2009 by Solomon Gold geologists has identified gold contents between two and six times the levels found in highly anomalous samples on the Company’s project on the main island of Solomon Islands, Guadalcanal, 530kms to the southeast. Samples of silicified volcanic host rocks on Fauro taken at the same time by Solomon Gold geologists show gold values up to 169 grams per tonne or over 5 oz per tonne; some samples showed gold visible to the naked eye. 

An exploration licence covering over 70km2 of Fauro Island was granted to Solomon Gold on 30 November 2009 for a period of three years. The licence may be renewed for 4 years after this initial term and a mining lease may be applied for by the Company. 

An airborne magnetic and electromagnetic survey over the entire licence area is currently taking place to identify strong resistors interpreted to represent gold rich silicified volcanic rocks in the volcanic rim. Thereafter the company expects to commence a drill program in the second quarter of 2010 to test the anomalies identified. Click here to read more on Fauro

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