Solid Gold Resources Corp.

Solid Gold Resources Corp.

November 19, 2010 03:00 ET

Solid Gold Submits Drill Core for Platinum Group Analysis

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2010) - Solid Gold Resources Corp. ("Solid Gold") (TSX VENTURE:SLD) is pleased to report that diamond drill core samples are being submitted for assay.

Two diamond drill holes were put down in the south west quadrant of the Solid Gold Prospect to test an overburden gold anomaly (1900 ppb Au) associated with a sediment/volcanic contact. A third hole was collared to the east in the south central region of the property to test another overburden gold anomaly (1100 ppb Au). Two additional diamond drill holes were completed to test the potential for platinum group elements in the north central Ghost Range Intrusive.

The Ghost Range is the most prominent elevation in the area south of Upper Lake Abitibi. It rises approximately 200 meters above Lake Abitibi and stretches approximately 12 km in an east west direction. The mountain consists mainly of diabase or gabbro, which is presumably intrusive into the Keewatin lavas. The rock is made up essentially of plagioclase and pyroxene, both of which are more or less altered to the usual decomposition products. Small quantities of primary quartz occur and there is also serpentine rock. Based on lithological similarities with intrusions such as the Merensky reef complex, the Ghost Range sill has the potential to host PGE mineralization and Ni-Cu-PGE mineralization as sulphide accumulations are associated with the basal contact of the intrusion. The north and east portions of the intrusion are covered by overburden and there is virtually no exploration reported in these areas however, airborne electromagnetic anomalies occur in several areas of the intrusion and most have not been explored.

Assay results for the drilling described above will be disclosed as they become available.

Technical data in this News Release was prepared for Solid Gold by Bill MacRae, P Geo (Ontario) who is Solid Gold's Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Business of Solid Gold Resources Corp.

Solid Gold is a junior mining exploration and development company which controls a +/-200-square kilometre prospect hosting potential for discovery of economic mineralization at Lake Abitibi near the Porcupine Fault zone in Northern Ontario.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Solid Gold believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Solid Gold disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Solid Gold Resources Corp.
    Richard Cohen
    Vice-President (Corporate Development)
    (905) 882-4422