King Solomon Mines (KSO)

Shares / Stock Code

KSO

Stock Exchange / Sharemarket

Australian Securities Exchange

King Solomon Mines (KSO) focuses on exploring for minerals in the under explored Inner Mongolia section. The company has interests in the following projects: Marmot Ridge, Wuritu, Amoyitele and Sonid North and South Projects. KSO was listed on the Australian stockmarket (ASX) on 18 April, 2007.

Exploration Strategy

The high prospectivity of Inner Mongolia exists by virtue of its geological setting astride the Fold Belt. It also takes in a substantial section of the northern edge of the North China Platform, a geological terrane that has accounted for approximately 20% of China’s gold production.

The Mongolian-Great Hinggan Fold Belt (“MGHFB”) is a large scale zone of complexly deformed rocks extending from Kazakhstan and Kyrghistan in the west to south-eastern Siberia in the east and taking in mineral-rich Mongolia. The Tien Shan and Altay gold belts of central Asia converge into the Fold Belt from the west and northwest respectively. These terranes host some of the world’s largest copper and gold deposits.

The complexity of the MGHFB derives firstly from accretionary processes along formerly opposing continental margins; secondly from the nature of the episodic collision movements that eventually closed the intervening Palaeozoic Solonker Ocean; and thirdly from ongoing crustal deformation associated with more recent Central Asian tectonic movements. The Belt consequently consists of Palaeozoic oceanic arc terranes in fault bounded juxtaposition with Archaean-Proterozoic continental fragments, deformed ophiolites and related ocean-floor remnants, all overlain locally by shallow marine and more recent terrestrial sediments. Magmatism associated with a series of major orogenic episodes has added a variety of plutonic, hypabyssal and volcanic rocks to the deformation mix.

The MGHFB is consequently highly prospective for a wide range of mineral commodities from active-plate-margin style precious and base metal deposits, through fossil fuels in post-Palaeozoic basins, to evaporites in the current landform cycle.

Marmot Ridge Copper-Molybdenum Project

The Marmot Ridge Cu-Mo project is a new discovery by King Solomon. It consists of a > 6sq km Cu ± Mo ± Au anomalous hydrothermal alteration system associated with a granitic intrusive complex and affecting also, an adjacent sequence of Palaeozoic basic to intermediate volcanic flows and fragmentals. Anomalous Cu values are widespread in the volcanic sequence and a zone of Mo mineralisation has been located in an alkaline phase of the intrusive complex. Both the granitic rocks and the volcanics are intruded by diorite or quartz diorite porphyry stocks and dykes. The full sequence has been strongly faulted along east-west, west-northwest and northeast trends.

Marmot Ridge Copper-Molybden Project

King Solomon has completed a substantial amount of exploration work at Marmot Ridge including:

  • Geological mapping to establish the geological setting and define the extent of the alteration system;
  • Satellite imagery analysis to assist with mapping and structural interpretation;
  • Surface rock-chip, soil and lag sampling to investigate surface geochemical signatures of underlying mineralisation;
  • Trenching for better geological exposure;
  • Ground magnetic and IP surveys to assist with sub-surface geological interpretation;
  • Thirty eight diamond drill-holes for 9,953m to establish the third dimension geology and geochemistry of the alteration system.

This work has focussed attention on association of copper anomalism with the margins of quartz diorite intrusives underlying the volcanics widespread at surface at Marmot Ridge, and on association of molybdenum mineralisation with a granosyenite plug on the northern flank of the ridge.

Naogaoshandu Gold Project

The Naogaoshandu gold project consists of a 47 sq km Exploration Licence taking in several areas of gold anomalies or surface gold mineralisation discovered by King Solomon in the Sonid Zuoqi district of Inner Mongolia. The licence area abuts the company’s Beyinhar North tenement and is centred only 25km west-southwest of its Marmot Cu-Mo project and 14km northeast of the Beyinhar gold discovery (1.2 m oz gold resource at January 2009) of Sino Gold.

Wuritu Copper Project

The Wuritu copper project is located approximately 18km south-southeast of the company’s Marmot Ridge Cu-Mo project. It was acquired from local interests in 2006. Attention was initially focused on the Malachite Ridge prospect where a 280m long open-ended copper-in-soil geochemical anomaly enclosed scattered outcrops and float of a strongly malachite (copper carbonate)-rich quartz-magnetite-hematite rock. Subsequent drill testing failed to intersect the anticipated underlying high-grade mineralisation but yielded anomalous copper zones and altered granitic intrusives at shallow depths.

Bu Dun Hua Gold Project

The Bu Dun Hua gold and silver project is located in Wengniute Banner north of Chifeng City in central Inner Mongolia. It lies within the NNW trending Yanshanian belt of intrusives and volcanics that elsewhere hosts a number of significant epithermal gold, porphyry copper and skarn copper deposits.

The project focus is on a large hydrothermal alteration system hosted in felsic volcanic flows and fragmental rocks and exposed on a prominent northeast trending ridge protruding through widespread sand cover. Prior to KSO’s involvement precious and base metal anomalies associated with a series of northwest trending, variably silicified fault structures traversing the ridge had been prospected by trench, shallow shaft and adit, and a small amount of near-surface stoping. Associated geological and geophysical investigations by the Inner Mongolian Geological Bureau and the China Academy of Sciences concluded that there are nine such mineralised fault/fracture zones present in the Lao Ping Tong prospect area, not all exposed at surface.

Beyinhar North Gold Project

The Beyinhar North gold project is strategically located along strike to the northeast of the Beyinhar gold discovery (1.2 m oz gold resource at January 2009) of Sino Gold and south of recent gold discoveries by KSO on its Naogaoshandu tenement.

While several silicification centres and numerous gold-in-soil anomalies have been mapped and sampled by KSO geologists, widespread drifting sand cover has frustrated early stage exploration. Techniques for working through this cover are currently being evaluated.

King Solomon Mines (KSO) Products and Services

  • The Company is an exploration company intending to explore primarily for gold and base metals in inner Mongolia, China

King Solomon Mines (KSO) Locations and Subsidiaries

King Solomon Mines Head Office
Suite 305, Level 3, 4 Bridge Street,
SYDNEY, NSW, AUSTRALIA, 2000
Phone: 64 21 897 667
Fax: 64 4 905 9607

King Solomon Mines (KSO) Share Price

Submitted by ASX Listed Company on 10 May, 2010 - 05:44

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