Oct. 2007- Tangcoh Gold Inc. was incorporated as a private Ontario corporation, by founders Andre Tanguay and Richard Cohen.
Camp Scale Potential
The company was formed to explore for gold in the Timmins district, in an area outlined by Dr. John Kirwan, geological consultant. In the 1960's, he was the exploration manager at both the Hollinger Mine and the McIntyre Mine, two of the most prolific mines in the world (30 million oz. ofW gold produced).He studied at the University of London under W.H. Reed, at the time, the world's leading expert on granites. He wrote his Ph.D thesis on the economic geology of the Timmins area (the Porcupine Camp). His academic work and extensive successful exploration experience, made him one of the leading experts on the structural geology and gold-hosting environment in the Timmins area.
Over his long career in the area, he accumulated a large geological and geophysical database. He proposed that the newly formed company stake a large, relatively underexplored area near Lake Abitibi, which he felt held great promise.
Ground geophysical surveys were completed on the claims. Dr. Kirwan analyzed this data in conjunction with detailed airborne geophysical maps and wrote the technical reports. Results were so promising, that he recommended acquiring more claims to include newly interpreted areas of promise. His expertise in the area, along with very positive technical reports of the claimblock's potential, and the large land package made for a compelling junior exploration project.
The objective was to take the company public, so as per OSC requirements, Dr. Kirwan, was the 'qualified person (QP)'.He wrote the mandatory 'N.I. 43-101' Technical Report. The report included detailed recommendations for the future work program, including 25 specific drill targets along with additional ground geophysical surveys.
Dr. Kirwan completed the NI 43-101 report in Nov. 2008. Tragically, he passed away on December 14, 2008. The report although complete, remained unsigned. It had to be co-authored for the future prospectus.
New management was brought in after Dr. Kirwan's death. The company name was changed to Solid Gold Resources Corp. The IPO of the company took place in October, 2010.
The company controls 100% interest in a +/- 200-square-kilometre prospect assembled in the heart of the Porcupine trend in the Lake Abitibi region located just a few kilometres west of the Ontario-Quebec border.
The area was selected for its proximity to the Porcupine-Destor Fault Zone, the presence of nearby gold showings and an interpretation of geophysical maps, which indicate the the presence of structures similar to and parallel with the Porcupine Fault to the south, which in turn contains several gold producers in and near the fault plane.
The Porcupine-Destor Fault Zone is recognized worldwide as a major geological feature extending from west of Timmins, Ontario, well into Québec. Sub-parallel structures here are associated with better than 95 percent of the 70+ million ounces of gold produced in the Porcupine Mining District alone.
The area is underlain by east-west trending rocks of Achaean age within the Abitibi geological province and contains steeply dipping mafic to intermediate volcanic rocks and associated granitic and ultramafic bodies and mafic dykes.
The Holloway Gold Mine and Holt-McDermott deposits occur in Holloway Township near the southeast corner of the Solid Gold property, suggesting evidence of clustering of gold deposits in the area. These modern mines have produced 2,105,665 oz gold with a 3,000-tons-per-day mill facility.
Ground surveys conducted over several areas on the Solid Gold property have identified excellent drill-ready gold targets, and a recently completed 43-101 technical report recommends robust drill testing.
Interpreted geophysical ground surveys suggest potential for two additional large-scale fault structures roughly parallel to the North Branch continuation of the Porcupine-Destor Fault located to the south. Drill targets have been identified for testing.
Geophysical ground surveys confirm the position of the North Branch of the Porcupine-Destor Fault Zone, and interpretation of the data identifies potential for a previously unknown splay fault, multiple alteration zones as well as a promising 'Orbicular Granitic Intrusion', similar to the rich Timmins ore bodies. Drill targets have been identified for testing.
Two historical diamond drill holes put down approximately 750 metres apart in the area of south grid ground survey returned anomalous assays in what is reported as an alteration zone of carbonatization and sericitization in hole LR-87-1 returning an averaged assay of 73 ppb over 3.99 metres and in hole LR-87-5, in the same alteration zone, reporting 63 ppb over 0.92 metre.
Approximately 1.5 kilometres south is a series of seven holes, drilled as part of an overburden sampling program covering 600 metres laterally, returning values up to 31.0 gpt gold. A recognized expert concluded that this anomaly appears to represent a placer gold occurrence in interglacial alluvial gravels.
Follow up on geophysical, geological, remote sensing and other work to better define the potential within Solid Gold's extensive property holdings.