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TSXV: SRW
FRANKFURT: A0BLQQ
EDMONTON, March 8 /CNW/ - Solid Resources Ltd. ("Solid" or the "Corporation") is pleased to announce that it has received a report from John Goodwin, P Geo., on the detailed ground follow-up during July and August, 2006 of EM anomalies selected by Dr. Buhlmann, P Geo. and Philip Robertshaw, P. Geo., from the Fugro Airborne Surveys Corp. "Resolve" aeromagnetic survey which was flown in March, 2005.
Twenty EM targets were selected for detailed follow-up based on geology, conductivity and magnetic association in various locations on the property. These targets were prospected and sampled (soil/bedrock where possible) when traversed by detailed geophysics using a Geonics GSM-19 Overhauser Magnetometer/VLF system.
Nine potential kimberlite targets were also proposed from the airborne survey but most interesting results were from a cluster of anomalous diatreme indicator minerals identified in esker material sampled immediately west of a small pond 200 meters north from the north shore of C Lake. Indicator minerals recovered included a G 11 garnet, chrome diopside, high manganese almandine-in the garnet family, with ortho- and clinpyroxenes. The G 11 garnets have been found in other kimberlite targets as well as in the Snap Lake deposit. Detailed geology, prospecting and sampling needs to be carried out in the area and the results interpreted by kimberlite experts.
An ultramafic horizon has been identified at the north end of Kryon Lake by Lambert (1988) with potential for PGE (Platinum Group Metals) (PGE 1 & PGE 2, identified by Buhlmann and Robertshaw, 2005) and remains to be examined and sampled in detail for Kambalda-style kamatiite-hosted nickel sulphide mineralization.
C Zone continues to be a very encouraging gold target with very encouraging gold intersections in DDH CZ99-02, CZ00-03 and CZ00-06 (Jankovic, 2006) as follows:
DDH CZ99-02: 241.5 to 260.2/17.2 m 8,875 ppb Au DDH CZ00-03: 206.6 to 212.7/3.3 m 3,870 ppb Au DDH CZ00-06: 256.75 to 268.04/6.45 m 12,299 ppb Au
There was a total of 8.3 m of favourable rock that was not split and assayed.
Because the disseminated sulphide horizons found on the property, as well as the M Zone, gave a very weak airborne EM response, it is recommended that an east-west grid be re-cut across the eastern portion of the property to cover the C-, D-, R-, and W Zones and survey with deep penetration IP surveys which responds well to disseminated sulphides. This will be followed up with detailed geology and sampling in target areas in the summer of 2007 and diamond drilling where warranted.
Mr. John Goodwin, P. Geo., is a qualified person with NI 43-101 and has verified that the technical data presented in this news release is accurately summarized.
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Certain statements contained in this press release, including statements which are related to exploration activity and future prospects and profitability and which may contain words such as "could", "should", "expect", "believe", "will" and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances and/or achievements of Solid to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in the market conditions and prices of tantalum, lithium, tin, silver and other metals and related products and services; competition; political and economic conditions in countries in which Solid does business; changes in laws and regulations, including environmental regulations, to which Solid is subject, and other factors which are described in further detail in Solid's filings with the Canadian Securities Regulators.
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