Widespread's King Solomon Mines issues drilling results
New Zealand Exchange Limited
P.O. Box 2959
Wellington
27 April 2011
Dear Sir,
King Solomon Mines raises more capital
China based King Solomon Mines (“KSO”) is one of Widespread’s cornerstone investments, and represents 8.4% of our total assets at its present market value of AUD 9 cents a share. We are the largest individual shareholder in KSO with a holding of 6.1%.
KSO today made the announcement below.
For and on behalf of the Board,
Chris D Castle
Wellington, 27 April 2011
Gold intersected at Mud-house gold prospect (Inner Mongolia)
The director’s of King Solomon Mines Ltd are pleased to advise that diamond drilling at its Mud-house gold prospect in Inner Mongolia has started positively with hole SND002 yielding:
|
Drillhole No |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Ag (g/t) |
|
SND002 |
37.0 |
46.0 |
9.0 |
0.80 |
0.95 |
|
including |
40.6 |
42.2 |
1.6 |
2.64 |
1.09 |
|
SND002 |
110.2 |
116.4 |
6.2 |
1.69 |
18.77 |
|
including |
113.3 |
115.6 |
2.3 |
3.61 |
39.8 |
The Mud-house prospect was discovered in 2010 when reconnaissance level exploration yielded widespread indications of Au mineralisation in soil samples, RAB and RC holes. SND002 is the second hole of a diamond drill program aimed at determining the style and extent of mineralisation in the >1km long central anomaly. It was drilled adjacent to RC hole SNRC010 which had yielded 14m @ 0.53g/t Au from 108m down-hole.
The diamond drill program is expected to continue for several months. Further scout RC drilling is also being undertaken in pursuit of geochemical and geological anomalies found up to 500m outside of the current diamond drill grid.
A fuller summary of progress at Mud-house and at KSO’s other active drilling project at Bu Dun Hua, will be presented in the company’s forthcoming quarterly report.
Stephen McPhail
Managing Director
King Solomon Mines Limited
PO Box 204-065
Highbrook
Auckland 2161
W. +644 905 9608
F. +644 905 9607
M. +6421 897 667
