King Solomon Mines Limited www.kingsolomonmines.com.au King Solomon Mines Limited ARBN 122 404 666 4 June 2008
King Solomon Mines Ltd reports further encouraging drill intercepts of molybdenite mineralisation at the Company's 100% owned Marmot Ridge porphyry Cu-Mo project in Inner Mongolia, China.
The mineralisation at Marmot Ridge was first encountered in diamond drill holes MR018 and MR019 near the end of the 2007 field season. Drilling re-commenced in March 2008 and at the time of writing a further 7 holes (MR025-MR031) had been completed.
While results are not yet available for all of these holes, the presence of a substantial zone (greater than 200m downhole intercepts) of anomalous Mo values has been confirmed in 6 of the 7 holes. The molybdenite occurs as films on fractures, veins and disseminations within altered granosyenite and varies from tens of metre intervals at better than 0.01% Mo to local peaks of up to 0.42% Mo (3.9% Cu eq*) over 2m intervals. It is often accompanied by chalcopyrite dusting producing Cu results in the "hundreds of ppm" range.
The mineralised zone has been tracked through an east-west distance of 400m and remains open to the north, east and west and at depth. Results from a soil survey enveloping the 2007-08 drilling area has yielded Mo-in-soil anomalies that suggest continuity of the zone outside of the area drilled to date.
These assay results are derived via a total acid/ AAS method at the SGS laboratory in China. A number of key samples are being re-run at laboratories outside China using a range of assay methods to determine the most effective technique for better-than-0.1% Mo determination.
The discovery of the molybdenite mineralisation is another positive stage in the progress at Marmot Ridge where the Company is systematically exploring a large Cu and Mo anomalous, porphyry-related hydrothermal alteration.
King Solomon Mines Limited www.kingsolomonmines.com.au King Solomon Mines Limited ARBN 122 404 666
Elsewhere on King Solomon's tenements, soil sampling at the Wuritu project has identified a broad Cu-in-soil anomaly coinciding with an IP chargeability anomaly and an initial RC program is planned to start in 2 weeks.
* Approximate copper equivalent (Cu eq.) grade was calculated using current metal prices to give a Mo:Cu ratio of 9.2.
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The information on mineralisation contained in this announcement accurately reflects information compiled by A B Bell, BSc, F AusIMM(CP), Executive Director a Competent Person (as defined by the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves), who has relevant experience in relation to such mineralisation and has consented to the inclusion of such information in this announcement.