Solitario Resources Intersects New Discovery of Significant Wharf-Style Gold Mineralization at Golden Crest - Hole Ends in Multi-Gram Gold
Solitario Resources announced significant drilling results from its Golden Crest Project, reporting a new Wharf-style gold discovery in drill hole GC-008. The hole intersected gold mineralization in the lower Deadwood formation with an average grade of 1.0 gram per tonne over 41.0 meters, with grades increasing with depth. The final two meters averaged 3.4 gpt before technical difficulties ended drilling.
This represents the first mineralization discovered in Lower Deadwood outside the historic Homestake-Wharf district. The discovery is part of a major structural zone extending over 12 kilometers in length and 500 meters wide. The company completed 11 core holes totaling 4,345.7 meters in 2024, with results received for the first eight holes.
Solitario Resources ha annunciato risultati significativi di perforazione dal suo progetto Golden Crest, riportando una nuova scoperta di oro in stile Wharf nel foro di perforazione GC-008. Il foro ha intersecato mineralizzazione aurifera nella formazione Lower Deadwood con un grado medio di 1,0 grammi per tonnellata su 41,0 metri, con gradi che aumentano con la profondità. Gli ultimi due metri hanno registrato una media di 3,4 gpt prima che difficoltà tecniche interrompessero la perforazione.
Questa rappresenta la prima mineralizzazione scoperta nella Lower Deadwood al di fuori del distretto storico di Homestake-Wharf. La scoperta è parte di una grande zona strutturale che si estende per oltre 12 chilometri di lunghezza e 500 metri di larghezza. La società ha completato 11 fori a carota per un totale di 4.345,7 metri nel 2024, ricevendo i risultati per i primi otto fori.
Solitario Resources anunció resultados significativos de perforación de su proyecto Golden Crest, informando un nuevo descubrimiento de oro tipo Wharf en el agujero de perforación GC-008. El agujero intersectó mineralización de oro en la formación Lower Deadwood con un grado promedio de 1.0 gramos por tonelada sobre 41.0 metros, con grados que aumentan con la profundidad. Los últimos dos metros promediaron 3.4 gpt antes de que dificultades técnicas terminaran con la perforación.
Esto representa la primera mineralización descubierta en Lower Deadwood fuera del histórico distrito de Homestake-Wharf. El descubrimiento es parte de una importante zona estructural que se extiende por más de 12 kilómetros de longitud y 500 metros de ancho. La compañía completó 11 agujeros de testigo que totalizan 4,345.7 metros en 2024, con resultados obtenidos para los primeros ocho agujeros.
솔리타리오 리소스는 골든 크레스트 프로젝트에서 중요한 시추 결과를 발표하며, 시추 구멍 GC-008에서 새로운 워프 스타일의 금 발견을 보고했습니다. 이 구멍은 하부 데드우드 층에서 평균 41.0미터당 1.0그램의 금광을 끼친 것으로, 깊어질수록 품위가 증가했습니다. 마지막 2미터는 기술적 어려움으로 시추가 종료되기 전에 평균 3.4 gpt였습니다.
이는 역사적인 홈스테이크-워프 지구 외부의 하부 데드우드에서 발견된 첫 번째 광물화입니다. 이 발견은 길이 12킬로미터, 너비 500미터에 걸쳐 있는 주요 구조적 구역의 일부입니다. 이 회사는 2024년에 총 4,345.7미터의 11개 코어 구멍을 완료했으며, 첫 8개 구멍의 결과를 받았습니다.
Solitario Resources a annoncé des résultats significatifs de forage de son projet Golden Crest, rapportant une nouvelle découverte d'or de type Wharf dans le trou de forage GC-008. Ce trou a intercepté une mineralisation aurifère dans la formation Lower Deadwood avec une teneur moyenne de 1,0 gramme par tonne sur 41,0 mètres, avec des teneurs augmentant avec la profondeur. Les deux derniers mètres ont enregistré une moyenne de 3,4 gpt avant que des difficultés techniques n'interrompent le forage.
Il s'agit de la première mineralisation découverte dans la Lower Deadwood en dehors du district historique de Homestake-Wharf. Cette découverte fait partie d'une grande zone structurelle s'étendant sur plus de 12 kilomètres de long et 500 mètres de large. L'entreprise a complété 11 trous de carottage totalisant 4 345,7 mètres en 2024, avec des résultats reçus pour les huit premiers trous.
Solitario Resources hat bedeutende Bohrergebnisse aus seinem Golden Crest-Projekt bekannt gegeben und einen neuen Goldfund im Wharf-Stil im Bohrloch GC-008 gemeldet. Das Bohrloch durchteufte Goldmineralisierung in der unteren Deadwood-Formation mit einem durchschnittlichen Gehalt von 1,0 Gramm pro Tonne über 41,0 Meter, wobei die Gehalte mit der Tiefe steigen. Die letzten beiden Meter wiesen im Durchschnitt 3,4 gpt auf, bevor technische Schwierigkeiten die Bohrungen abbrachen.
Dies stellt die erste Mineralisierung dar, die in der unteren Deadwood außerhalb des historischen Homestake-Wharf-Distrikts entdeckt wurde. Der Fund ist Teil einer größeren strukturellen Zone, die sich über 12 Kilometer Länge und 500 Meter Breite erstreckt. Das Unternehmen hat 2024 insgesamt 11 Kernlöcher mit einer Gesamtlänge von 4.345,7 Metern abgeschlossen und die Ergebnisse für die ersten acht Löcher erhalten.
- New gold discovery in drill hole GC-008 with significant mineralization averaging 1.0 g/t over 41.0 meters
- Increasing gold grades with depth, reaching 3.4 g/t in final two meters
- First mineralization discovery in Lower Deadwood outside historic district
- Large structural zone identified spanning 12 kilometers length and 500 meters width
- Strong cash position of approximately US$6.5 million
- Drilling terminated due to technical difficulties before reaching target depth
- True thickness of mineralization cannot be estimated based on single drill hole
Insights
DENVER, CO / ACCESSWIRE / December 9, 2024 / Solitario Resources Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to announce its most compelling drilling results to date on its Golden Crest Project. Significant gold mineralization was intersected over a substantial thickness in the lower Deadwood rock formation in drill hole GC-008. The entire lower Deadwood formation was mineralized with an average gold grade of approximately 1.0 gram per tonne ("gpt") over its entire 41.0-meter length. Importantly, gold grades were increasing with depth, with the last two meters of core averaging 3.4 gpt, the highest grades encountered before the hole was terminated due to technical drilling difficulties.
The lower Deadwood formation hosts the majority of Tertiary gold mineralization in the historic Homestake-Wharf gold district situated several miles east of Solitario's land position. GC-008 represents the first mineralization ever discovered in Lower Deadwood outside of the historic district. Gold content and distribution in GC-008 are provided in the table below and an assay cross section of the core hole can be viewed here.
Golden Crest Project: GC-008 - New Wharf-Style Gold Discovery
DDH Hole | Interval | Thickness*2 | Gold Grade |
GC-008*1 | (meters) | (meters) | (grams/tonne) |
| 322.5 to 363.5 | 41.0 | 1.0 |
Including | 344.2 to 363.5 | 19.4 | 1.7 |
Including | 344.2 to 349.9 | 5.7 | 2.2 |
Including | 355.1 to 363.5 | 8.4 | 2.1 |
Including*3 | 361.5 to 363.5 | 2.0 | 3.4 |
*1280° azimuth -65° inclination
*2True thickness cannot be estimated based on this single drill hole.
*3Last two intervals in hole - hole ended at 363.5 meters.
Chris Herald, President and CEO of Solitario, stated: "I cannot overstate the importance of these assay results. GC-008 represents a new Wharf-style discovery and is our most significant gold intercept to date. GC-008 was our first drill hole to test a major structural zone that has been traced on Solitario's property position well over 12 kilometers in length and approximately 500 meters wide. This exceptionally large structural/stratigraphic zone appears to be a very fertile mega-target that only has one drill hole and is open ended in all directions, including depth. This structural zone is suspected to have deep roots and is believed to be an important conduit to Tertiary-aged gold mineralization. GC-008 was designed to test this zone at the most receptive stratigraphic horizon - the lower Deadwood Formation.
The historic Wharf district has an estimated total gold endowment of over 10 million ounces (produced, remaining historic resources and unrecovered gold in tailings and heap leach; all non-NI 43-101 compliant estimates). Approximately half of this endowment occurred as high-grade mineralization, often over an ounce per tonne, and the other half was lower grade averaging about a gram per tonne. The lower grade mineralization formed a large halo around the higher-grade structures. We believe this intercept represents the lower-grade halo surrounding potentially high-grade structures."
Solitario completed 11 core holes on the Golden Crest property totaling 4,345.7 meters in 2024. Assay results for the first eight holes have been received. Core holes GC-001 to GC-003 were well mineralized and previously reported (see News Release dated September 16, 2024). GC-004 through GC-007 showed anomalous gold and trace element values in the Paleozoic sedimentary rock formations and demonstrates that gold-bearing hydrothermal fluids have significantly altered the carbonate and clastic formations over a vertical extent of up to 400 meters and laterally an area of 80-square kilometers at surface. We believe with further drilling we can vector into zones hosting potentially economic mineralization.
Golden Crest Future Drill Hole Plans
Solitario has identified ten high priority surface targets as shown in the table below. Two of the targets, Downpour and Eleventh Hour, were drilled this year. Four new targets are currently being permitted and are scheduled to be drilled in 2025. The other four 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. Furthermore, Solitario's future drilling has the potential to intersect the highly prolific Homestake formation, situated below the lower Deadwood formation.
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; risks relating to the impacts of health pandemics or epidemics or similar occurrences and or natural disasters;; 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.
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FAQ
What gold grades did Solitario Resources (XPL) discover in hole GC-008?
How many drill holes did Solitario Resources (XPL) complete at Golden Crest in 2024?
What is the size of the structural zone discovered by Solitario Resources (XPL)?
