Solitario Resources Completes Highly Successful 2024 Drilling Campaign
Solitario Resources (NYSE:XPL) announced successful results from its 2024 drilling program. The company completed 11 core holes totaling 4,345.7 meters at its Golden Crest property, with six holes intersecting gold grades exceeding 1 g/t. Notable results include hole GC-011 intersecting 2.68 meters grading 4.69 g/t gold.
The drilling program revealed significant gold mineralization in four different areas, suggesting the company's 36,500-acre land position could mirror the Homestake-Wharf gold system. The company plans to expand drilling in late-May, focusing on priority areas including the Downpour zone, Lands End, and the Ponderosa area, where strong surface gold anomalies have been identified.
Solitario has identified ten high-priority surface targets, with two already drilled in 2024. Five new targets are being permitted for 2025 drilling. The company maintains approximately US$5.8 million in cash and marketable securities.
Solitario Resources (NYSE:XPL) ha annunciato risultati positivi dal suo programma di perforazione del 2024. L'azienda ha completato 11 fori di sondaggio per un totale di 4.345,7 metri presso la sua proprietà Golden Crest, con sei fori che hanno intercettato gradi d'oro superiori a 1 g/t. Tra i risultati notevoli, il foro GC-011 ha intercettato 2,68 metri con un grado di 4,69 g/t d'oro.
Il programma di perforazione ha rivelato una significativa mineralizzazione d'oro in quattro diverse aree, suggerendo che la posizione terriera di 36.500 acri dell'azienda potrebbe rispecchiare il sistema aurifero Homestake-Wharf. L'azienda prevede di espandere le perforazioni a fine maggio, concentrandosi su aree prioritarie tra cui la zona Downpour, Lands End e l'area Ponderosa, dove sono state identificate forti anomalie di superficie d'oro.
Solitario ha identificato dieci obiettivi di superficie ad alta priorità, con due già perforati nel 2024. Cinque nuovi obiettivi sono in fase di autorizzazione per le perforazioni del 2025. L'azienda mantiene circa 5,8 milioni di dollari in contante e titoli negoziabili.
Solitario Resources (NYSE:XPL) anunció resultados exitosos de su programa de perforación de 2024. La compañía completó 11 pozos de núcleo que suman 4,345.7 metros en su propiedad Golden Crest, con seis pozos que intersectaron grados de oro superiores a 1 g/t. Resultados notables incluyen el pozo GC-011, que intersectó 2.68 metros con una ley de 4.69 g/t de oro.
El programa de perforación reveló una significativa mineralización de oro en cuatro áreas diferentes, lo que sugiere que la posición de tierra de 36,500 acres de la compañía podría reflejar el sistema de oro Homestake-Wharf. La empresa planea expandir la perforación a finales de mayo, centrándose en áreas prioritarias como la zona Downpour, Lands End y el área Ponderosa, donde se han identificado fuertes anomalías de oro en la superficie.
Solitario ha identificado diez objetivos de superficie de alta prioridad, con dos ya perforados en 2024. Se están autorizando cinco nuevos objetivos para la perforación de 2025. La compañía mantiene aproximadamente 5.8 millones de dólares en efectivo y valores negociables.
솔리타리 리소스 (NYSE:XPL)는 2024년 시추 프로그램의 성공적인 결과를 발표했습니다. 이 회사는 Golden Crest 자산에서 총 4,345.7미터에 달하는 11개의 코어 홀을 완료했으며, 6개의 홀에서 1 g/t를 초과하는 금 함량이 확인되었습니다. 주목할 만한 결과로는 GC-011 홀이 2.68미터에서 4.69 g/t 금 함량을 기록했습니다.
시추 프로그램은 네 가지 다른 지역에서 중요한 금 광물이 발견되었으며, 이는 회사의 36,500에이커 토지 위치가 Homestake-Wharf 금 시스템과 유사할 수 있음을 시사합니다. 이 회사는 5월 말에 시추를 확대할 계획이며, Downpour 지역, Lands End 및 Ponderosa 지역과 같은 우선 지역에 집중할 예정입니다. 이러한 지역에서는 강한 표면 금 이상이 확인되었습니다.
솔리타리는 10개의 고우선 표면 목표를 식별했으며, 그 중 2개는 이미 2024년에 시추되었습니다. 2025년 시추를 위해 5개의 새로운 목표가 허가 중입니다. 이 회사는 약 580만 달러의 현금 및 유가증권을 보유하고 있습니다.
Solitario Resources (NYSE:XPL) a annoncé des résultats satisfaisants de son programme de forage pour 2024. L'entreprise a complété 11 carottes de forage totalisant 4 345,7 mètres sur sa propriété Golden Crest, avec six carottes intersectant des teneurs en or supérieures à 1 g/t. Parmi les résultats notables, le trou GC-011 a intersecté 2,68 mètres avec une teneur de 4,69 g/t d'or.
Le programme de forage a révélé une minéralisation d'or significative dans quatre zones différentes, suggérant que la position foncière de 36 500 acres de la société pourrait refléter le système aurifère Homestake-Wharf. L'entreprise prévoit d'élargir le forage à la fin mai, en se concentrant sur des zones prioritaires, y compris la zone Downpour, Lands End et la zone Ponderosa, où de fortes anomalies d'or en surface ont été identifiées.
Solitario a identifié dix cibles de surface à haute priorité, dont deux ont déjà été forées en 2024. Cinq nouvelles cibles sont en cours de permis pour le forage de 2025. L'entreprise dispose d'environ 5,8 millions de dollars en espèces et en valeurs mobilières négociables.
Solitario Resources (NYSE:XPL) hat erfolgreiche Ergebnisse aus seinem Bohrprogramm 2024 bekannt gegeben. Das Unternehmen hat 11 Kernbohrungen mit einer Gesamtlänge von 4.345,7 Metern auf seinem Golden Crest Grundstück abgeschlossen, wobei sechs Bohrungen Goldgehalte von über 1 g/t aufwiesen. Bemerkenswerte Ergebnisse umfassen das Bohrloch GC-011, das 2,68 Meter mit einem Gehalt von 4,69 g/t Gold durchschnitten hat.
Das Bohrprogramm hat eine signifikante Goldmineralisierung in vier verschiedenen Bereichen offenbart, was darauf hindeutet, dass die Landposition des Unternehmens von 36.500 Acres dem Homestake-Wharf Goldsystem ähneln könnte. Das Unternehmen plant, Ende Mai die Bohrungen zu erweitern und sich auf Prioritätsbereiche wie die Downpour-Zone, Lands End und das Ponderosa-Gebiet zu konzentrieren, wo starke Oberflächenanomalien von Gold identifiziert wurden.
Solitario hat zehn hochpriorisierte Oberflächenziele identifiziert, von denen zwei bereits im Jahr 2024 gebohrt wurden. Fünf neue Ziele werden für die Bohrungen 2025 genehmigt. Das Unternehmen hält etwa 5,8 Millionen US-Dollar in bar und handelbaren Wertpapieren.
- Six of eleven drill holes intersected gold grades >1 g/t, indicating significant mineralization
- Best drill result showed 2.68 meters @ 4.69 g/t gold in hole GC-011
- Downpour zone showed consistent mineralization averaging 30 meters of 1.7 g/t gold
- Company identified ten high-priority surface targets for future exploration
- Strong cash position of US$5.8 million
- None.
Insights
The latest drilling results from Solitario Resources represent a significant technical breakthrough that substantially de-risks their Golden Crest project. The discovery of gold mineralization across four distinct deposit types, with grades exceeding 1 g/t in more than half of the drill holes, demonstrates the project's robust potential. The standout intersection of 4.69 g/t gold over 2.68 meters in hole GC-011 is particularly significant as it indicates the presence of high-grade feeder structures.
The geological similarities to the Homestake-Wharf system, which has produced 52 million ounces of gold historically, provide a compelling exploration model. The identification of the Homestake Formation outside its type locality is a important technical milestone, as this formation hosted the majority of Homestake's historical production.
The company's methodical approach to exploration is evident in their comprehensive QA/QC protocols and the strategic placement of drill holes across the property. With 45 permitted drilling platforms at Ponderosa and plans for expansion drilling at multiple targets, Solitario has positioned itself for an aggressive 2025 campaign. The company's
The presence of multiple mineralization styles - including evaporite collapse breccias, Lower Deadwood Formation mineralization, and paleo-placer deposits - significantly enhances the probability of defining substantial resources. The planned two-rig drilling program, targeting both near-surface anomalies and deeper formations, demonstrates a well-structured approach to resource delineation.
The project's location in South Dakota's Black Hills mining district provides important infrastructure advantages and year-round operational capability. The experienced management team, holding
DENVER, CO / ACCESS Newswire / February 18, 2025 / Solitario Resources Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to announce that its 2024 drilling program was a resounding success. Drilling results supports the notion that Solitario's 36,500-acre land position may be a mirror image of the prolific Homestake - Wharf gold system. Significant gold mineralization was discovered in four different widely-spaced areas.. Six of the eleven holes drilled intersected gold grades in excess of one gram per tonne ("g/t"), including the last drill hole (GC-011) that intersected 2.68 meters grading 4.69 g/t.
In the nearby historic Homestake-Wharf mining camp, with an overall gold endowment*1 approaching 95 million ounces, there are six geologic environments in which gold was deposited. Drilling at Golden Crest intersected significant gold values in four of these deposit types, and strong indirect evidence that the fifth and sixth deposit types are present (see table below and schematic cross section here).
Chris Herald, President and CEO of Solitario, stated: "This year's results surpassed our highest expectations. Solitario's multiple new greenfield discoveries have opened-up significant targets that are wide-open to expansion. As these sites are already permitted, we plan to offset these mineralized drill holes beginning in late-May. Priority areas for expansion include the Downpour zone where near-surface mineralization was intersected in all three drill holes, each averaging about 30 meters of 1.7 g/t gold; Lands End - GC-008 that intersected 41 meters at approximately 1.0 g/t in the lower Deadwood Formation; and GC-010, that intersected 11.33 g/t gold over 0.52 meters in a paleo-placer on top of the Precambrian Homestake Formation and 2.45 g/t gold over 0.43 meters in a Tertiary igneous breccia.
We are equally excited to initiate the first ever drilling in the Ponderosa area situated immediately southeast of our Golden Crest claim block. Our strongest and most widespread surface gold anomalies occur within the Ponderosa permit application and include the Geyser, Sleeping Beauty, Holland, Wild Cat and Moonlight target zones. We anticipate utilizing a second drill rig at Ponderosa and are targeting a mid-summer start date. Forty-five (45) drilling platforms are included in the Ponderosa Plan of Operations to drill test these strong surface gold anomalies (here)."
Hole GC-011: Eleventh Hour
The last drill hole of the season, GC-011, was the furthest north drill hole in an area referred to as the Eleventh Hour zone. Strong gold mineralization was intersected within massive limestone of the Lodgepole Formation. The mineralization is thought to be situated within a feeder structure.
GC-011: 2.68 meters @ 4.69 g/t gold starting at 161.9 meters
Golden Crest: Mirror Image of the Homestake-Wharf Gold System
*1 Endowment = Gold produced, estimated unrecovered in tailings, estimated remaining historic resources (not NI-43101 compliant); from sources that are thought to be reliable, but not independently verifiable. Solitario's land position does not cover any of the historic districts' gold endowment.
*2 Composite thickness of three closely spaced intervals.
Drilling Statistics
Solitario completed 11 core holes in 2024 on the Golden Crest property (see drill hole location map here) totaling 4,345.7 meters. Assay results for all drill holes have now been received.
Core holes GC-001 to GC-003 intersected silicified and well mineralized evaporite collapse breccias in the Mississippian-aged Mission Canyon limestone (see News Release dated September 16, 2024). GC-004 through GC-007 showed anomalous gold and/or trace element values in the Paleozoic sedimentary rock formations, while hole GC-008 intersected a wide interval of well mineralized Lower Deadwood Formation (see news release dated December 9, 2024) indicating the potential for significant Wharf-style mineralization. GC-009 and GC-010 both intersected Precambrian Homestake Formation, the only known occurrence of this rock unit outside of the Homestake district. Additionally, GC-010 intersected high-grade paleo-placer gold between the Homestake Formation and much younger Lower Deadwood Formation, as well as mineralized diatreme intrusive breccia (see news release dated February 6, 2025). Drill hole GC-011 intersected a mineralized near-vertical structure in Paleozoic limestones.
Abundance of High-Quality Drilling Targets
Solitario has identified ten high priority surface targets (including the Ponderosa area) as shown in the table below. Two of the targets, Downpour and Eleventh Hour, were drilled this year. Five new targets are currently being permitted and are scheduled to be drilled in 2025. The other three high-priority targets may undergo future permitting following further review. In addition to the ten currently defined high-priority targets, Solitario has identified another dozen promising target areas that require additional surface exploration work. Solitario's future drilling will not only test the strong surface gold anomalies, but the underlying and highly prolific Lower Deadwood Formation, paleo-placer and Homestake banded iron formation mineralization.
Solitario's
Sample Type, Sampling Methodology, Chain of Custody, Quality Control and Assurance
All Golden Crest exploration core samples have been prepared and analyzed at the American Assay Laboratories in Reno, Nevada, which is independent from Solitario. Thorough QA/QC protocols are followed on the Project, including insertion of duplicate, blank and standard samples in the assay stream for all drill holes. The samples are collected directly from the drill rig, logged, photographed, split into two samples, and half of each sample submitted directly to American Assay Labs through secure chain of custody protocols. All activities prior to shipment are directly supervised by Solitario geologists. Samples are pulverized from a 250g sample to
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Sandor Ringhoffer, CPG, SME RM, a geologic consultant of Solitario, who is a qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.
About Solitario
Solitario is a natural resource exploration company focused on high-quality Tier-1 gold and zinc exploration projects. The Company is traded on the NYSE American ("XPL") and on the Toronto Stock Exchange ("SLR"). In addition to its South Dakota property holdings, Solitario holds a
Solitario has a long history of committed Environmental, Social and Responsible Governance ("ESG") of its business. We realize ESG issues are also important to investors, employees, and all stakeholders, including communities in which we work. We are committed to conducting our business in a manner that supports positive environmental and social initiatives and responsible corporate governance. Importantly, we work with joint venture partners that not only value the importance of ESG issues in the conduct of their business on our joint venture projects but are leaders in the industry in this important segment of our business.
For More Information Please Contact:
Chris Herald, President and CEO
Solitario Resources Corp.
Tel. 303-534-1030 ext. 1
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933 and the U.S. Securities Exchange Act of 1934, and as defined in the United States Private Securities Litigation Reform Act of 1995 (and the equivalent under Canadian securities laws),that are intended to be covered by the safe harbor created by such sections. Forward-looking statements are statements that are not historical facts. They are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and address activities, events or developments that Solitario expects or anticipates will or may occur in the future, and are based on current expectations and assumptions. Forward-looking statements involve numerous risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Solitario's Golden Crest land position does not cover any of the areas of historical gold production or historical unmined resources. Certain historical information concerning exploration and gold production in the Black Hills region has been obtained through both public and private sources and are believed to be substantially factual, but Solitario can give no assurances of the accuracy of such information. The existence of historic mines and resources adjacent to Solitario's land position do not necessarily support the existence of economic mineral deposits on Solitario's land position. Such forward-looking statements include, without limitation, statements regarding the Company's expectation of the projected timing and outcome of engineering studies; expectations regarding the receipt of all necessary permits and approvals to implement an exploration or mining plan, if any, at any of its mineral properties. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, among others, risks relating to risks that Solitario's and its joint venture partners' exploration and property advancement efforts will not be successful; risks relating to fluctuations in the price of zinc, gold, lead and silver; the inherently hazardous nature of mining-related activities; uncertainties concerning reserve and resource estimates; availability of outside contractors, and other activities; uncertainties relating to obtaining approvals and permits from governmental regulatory authorities; the possibility that environmental laws and regulations will change over time and become even more restrictive; and availability and timing of capital for financing the Company's exploration and development activities, including uncertainty of being able to raise capital on favorable terms or at all;as well as those factors discussed in Solitario's filings with the U.S. Securities and Exchange Commission (the "SEC") including Solitario's latest Annual Report on Form 10-K and its other SEC filings (and Canadian filings) including, without limitation, its latest Quarterly Report on Form 10-Q. The Company does not intend to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
SOURCE: Solitario Resources Corp.
View the original press release on ACCESS Newswire
FAQ
What were the key results from Solitario Resources (XPL) 2024 drilling program?
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When will XPL begin its next phase of drilling at Golden Crest?
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