EDMONTON, Feb. 14 /CNW/ - Solid Resources ("SRW" - TSXV) is pleased to
provide a progress update on its Sacrificio property in Mexico and its
Bear property located 110 km northeast of the city of Yellowknife in Canada's
Northwest Territories.
Sacrificio Property, Mexico
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The Sacrificio property is a Silver-Copper-Molybdenum-Gold prospect
located in Mexico. As of this date drilling is ongoing with two holes
completed, and the third hole just started. The first hole was drilled to a
depth of 431 metres and the second hole to a depth of 382 metres, both at 45
degrees. The first 50 samples from the first hole have been shipped and
received for assay by ALS Chemex labs in Vancouver, British Columbia. Results
are expected at the end of February and will be released at that time.
Additional samples are in transit. Management is pleased with the
mineralization encountered to date, based on visual inspection of the core.
Bear Property, Canada
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The Bear property hosts a number of polymetallic massive sulphide
deposits containing Silver, Zinc, and Gold; an ultramafic formation with the
potential for Nickel; and various possible Kimberlite targets.
During 2005, Fugro Airborne Surveys conducted a helicopter-borne EM and
aeromagnetic survey delivering a comprehensive report. Following up the
significant results obtained from this survey, a detailed geological
compilation and geophysical evaluation was completed by Buhlmann & Associates
Inc. and Robertshaw Geophysics Ltd. in October of 2005.
Over a large area on the property, there were 15 circular shapes
indicating possible Kimberlite targets identified by the geophysical
interpretation. As a result, a stream sediment program was planned to
investigate the presence of Kimberlite indicator minerals in the vicinity of
nine possible Kimberlite type targets. The program commenced in late 2005;
however, due to snow and ice cover, only a limited number of samples were
obtained. Management is pleased to report that some of the right indicators
are present in the analysis; however, it is too early to draw conclusions. The
analysis was carried out by CF Minerals of Kelowna, British Columbia. It is
important to note that only 5 of the 15 anomalies were sampled. The original
program is expected to continue during the 2nd quarter of 2006 when sampling
conditions are expected to improve.
The qualified person with respect to the Sacrificio project is
Rolf Burkhardt, Phd. Geol. The qualified person with respect to the Bear
property is Slobodan (Bob) Jankovic, Bsc. Geol.
Issue of Stock Options
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Solid also announces that it has approved the granting of stock options
to acquire an aggregate of 680,000 Common Shares of Solid (approximately 5.17%
of the total issued and outstanding shares of Solid) at $1.20 per share,
subject to regulatory approval. Of those options, 430,000 have been granted to
directors and employees and 250,000 have been granted to professional mining
consultants and advisors.
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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.
