Tuesday, 10th January 2006 (2706 views)

Solomon Gold will seek admission to the AIM stock exchange to raise funds to continue work on its four gold and copper exploration projects in the Solomon Islands.

The south west Pacific island is known as a hotspot for gold and was pinpointed by the South Pacific Geoscience Commission as the second most prospective country in the south west Pacific Rim region.

Solomon Gold is looking to advance work on its four exploration licenses on the island of Guadalcanal, where it has been present since 1995.

It currently has 22 targets in its sites, with its core project at Mbetilonga exhibiting gold prospects located in an extensive system.

The miner – a subsidiary of Australian Resource Management – asserts that its projects exhibit a similar intrusive geology to world-class gold mines in the region.

The south west Pacific "ring of fire" region has already hosted some lucrative gold finds, which Solomon Gold will be hoping to repeat.

Papua New Guinea is the most prolific country in the region, hosting two mines with over 40 million ounces of gold equivalent in production and resources.

Neighbouring Indonesia also hosts the mammoth Grasberg deposit.

The company is hoping to list by February.

 

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