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Solitario Resources Ord Shs T.SLR

Alternate Symbol(s):  XPL

Solitario Resources Corp. is a natural resource exploration company focused on high-quality Tier-1 gold and zinc exploration projects. The Company’s primary business is to acquire exploration mineral properties and/or discover economic deposits on its mineral properties and advance these deposits, either on its own or through joint ventures, up to the development stage of the project. Its projects include Florida Canyon Zinc-Peru, Lik Zinc-Alaska and Golden Crest Gold-South Dakota. The Florida Canyon Zinc project is located approximately eight kilometers (km) from a paved road that connects coastal northern Peru with the Amazon basin. The consolidated Florida Canyon land position stands at 48,700 hectares (120,300 acres). The Lik high-grade zinc project located in northwestern Alaska is an advanced exploration project joint ventured with Teck American Incorporated (Teck). The Golden Crest Gold Project is located in western South Dakota.


TSX:SLR - Post by User

Bullboard Posts
Post by mangkangon Apr 28, 2010 1:38pm
460 Views
Post# 17040395

Great JV News

Great JV News
https://www.solitarioresources.com/news.html

Solitario Exploration & Royalty Corp. ("Solitario;" NYSE Amex: XPL; TSX: SLR) is pleased to announce that it has signed a definitive Venture Agreement with COMPANIA DE MINAS BUENAVENTURA S.A.A ("Buenaventura;" NYSE: BVN; Lima: BUE.LM), on Solitario's Pachuca Real silver-gold project in central Mexico. Solitario's 100%-owned Pachuca Real project encompasses approximately 31,300 hectares of mineral rights in and around the famed Pachuca silver-gold mining district. Historic production from the Pachuca district totals approximately 1.4 billion ounces of silver and over 7.0 million ounces of gold, making it the largest silver-gold district in the world. A map of the project area, can be viewed on Solitario's website at https://www.solitarioxr.com/art/pachuca.pdf
Terms of the Venture Agreement
Overall, the Venture Agreement ("Agreement") is structured very similarly to a Net Profit Interest ("NPI") royalty, in that Solitario is essentially financed to production if Buenaventura elects to earn its ultimate potential interest of 70%. The Agreement calls for a firm work commitment by Buenaventura of $2.0 million over the first 18 months. Work commitments over the entire 4.5 years total $12.0 million.


Bullboard Posts