EDMONTON, Jan. 5 /CNW/ - Solid Resources ("SRW" - TSXV) is pleased to
announce that it has commenced a 3,000 metre exploratory core diamond drilling
program on its Sacrificio property in Mexico. The program is aimed at
identifying subsurface Copper and Silver grades and the location of a
potential ore body. A surface sampling program in 2005 yielded encouraging
results as reported in the April 18, 2005 news release. Hole No. 1 is
currently in progress and is being drilled at 45 degrees. The projected target
for the hole is 300 - 500 metres and is currently at 52 metres. The budgeted
cost of the program, including the drilling of 7 holes, is $550,000, and once
completed, a thorough analysis will be undertaken to determine a dependent
follow up drill program in the 2nd Q of 2006.
Solid is also in the process of obtaining a drilling permit for the Lara
copper project in Peru and expects to spend a minimum of $670,000 on the
property during 2006. This program is planned to commence in March or April
2006 and may include both infill and scout drilling totaling 10 holes on the
property. Exploration will be targeted at increasing the previously defined
mineral resource as outlined in the November 3, 2005 news release.
The Company's primary exploration focus for 2006 will be on the Mexico
and Peru projects while continuing to prove up its projects in Canada's
Northwest Territories and Spain. Sampling and drilling programs in these
regions, contemplated to commence in the 2nd Q of 2006, are in the planning
stages and will be aimed at determining metal grades in additional mineralized
zones. Specifically, the NWT's Bear property will involve exploratory drilling
to identify grades in a Volcanic Hosted Massive Sulphide zone. Additionally,
there will be a continuation of the sampling for indicator minerals on Solid's
property around the potential Kimberlite pipes. Approximately $350,000 will be
budgeted for this 2nd Q program on the Bear property.
In addition, Solid plans to spend approximately $300,000 during the 2nd Q
and 3rd Q of 2006 on mapping and surface sampling of the Varallo project in
the Piemonte region of Northwestern Italy. The Varallo property contains
Nickel, Copper, Gold, Cobalt, and Platinum Group Metals. The metal sulphides
relate to three ultramafic rock types.
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Solid Resources Ltd. is actively exploring worldwide for Rare, Precious,
and Base Metals. Its current properties are located in Canada, Spain, Mexico,
Italy, and Peru. The Company's website is at www.solidresources.com. The
Company's Common Stock trades on the TSX Venture Exchange under the symbol SRW
and on the Frankfurt Stock Exchange under the symbol A0BLQQ.
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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.
The TSX Venture Exchange has not reviewed this release and does not
accept responsibility for the adequacy or the accuracy of this release.
