Solitario Intersects Widespread Gold MineralizatioSolitario Intersects Widespread Gold Mineralization on Its Mercurio Gold Project in Brazil
Monday February 12, 9:30 am ET
DENVER, February 12 /CNW/ - Solitario Resources Corporation (AMEX:
XPL -
News; TSX:
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News) today announced the results of its second round of drilling completed in late 2006 on its 100%-owned Mercurio gold project in northern Brazil. Highlights include core holes SB-16 that intersected 7.0 meters grading 6.9 grams per tonne ("g/t") gold, SB-18 that intersected 34.0 meters of 2.7 g/t gold and SB-20 that intersected 26.0 meters grading 1.6 g/t gold. In total, nine of the eleven widely spaced drill holes intersected significant gold mineralization in this program. Results of Mercurio drilling are provided in the table below and a drill hole location map can be accessed at
https://www.solitarioresources.com/art/0207MercurioMaps.pdf
Mercurio Drill Hole Assay Results Hole From To Interval Gold Grade Prospect Name Number Meters Meters Meters g/t ---------------------------------------------------------------------- Colonia SB-13 77.0 105.0 28.0 1.0 ---------------------------------------------------------------------- SB-15 111.0 117.0 6.0 1.8 ---------------------------------------------------------------------- SB-16 94.0 101.0 7.0 6.8 ---------------------------------------------------------------------- Patoa SB-18 7.2 41.2 34.0 2.7 ---------------------------------------------------------------------- SB-19 22.1 25.1 3.0 1.1 ---------------------------------------------------------------------- 39.1 41.5 2.4 1.9 ---------------------------------------------------------------------- 110.7 112.7 2.0 1.8 ---------------------------------------------------------------------- SB-20 62.6 88.1 25.5 1.6 ---------------------------------------------------------------------- Tucanare SB-21 55.8 67.6 11.8 0.6 ---------------------------------------------------------------------- 74.5 78.1 3.6 1.6 ---------------------------------------------------------------------- 122.4 131.8 9.4 0.7 ---------------------------------------------------------------------- SB-22 39.8 41.9 2.1 1.8 ---------------------------------------------------------------------- SB-23 199.3 205.7 6.4 2.1 ---------------------------------------------------------------------- No estimate of true width of mineralized intercepts shown above can yet be made.
A total of 23 drill holes have thus far tested three separate target areas: the Colonia, Patoa and Tucanare prospects. At Colonia, a mineralized east-west structural trend has been traced for at least 400 meters. This trend remains open in both directions along horizontal strike and at depth. At Patoa, two holes, SB-04 drilled in 2005, and SB-18, may represent the same mineralized trend. These holes intersected 12.2 meters grading 12.2 g/t gold and 34 meters of 2.7 g/t gold, respectively. In addition, SB-20, that intersected 25.5 meters of 1.6 g/t gold, was drilled 600 meters west of the main Patoa area and represents significant untested potential of the Patoa zone. Finally, at the Tucanare prospect, all five drill holes have intersected gold mineralization, but much work remains to determine the size of this zone.
Chris Herald, President and CEO of Solitario, stated, "We have had an exceptional success ratio in intersecting mineralization at Mercurio, with both high-grade and lower-grade disseminated gold mineralization being found in several widely spaced zones. We intend to initiate a follow-up drilling program later this year."
The Mercurio project is located in the Tapajos gold region of northern Brazil where an estimated 30 to 40 million ounces of gold has been produced by local small-scale mining of soils. The property has relatively easy access by a seasonal unpaved road that services the region. On the 8,550-hectare Mercurio property, informal gold production from saprolite soils by local miners has occurred in approximately a dozen different localities during the past ten years. Geochemical sampling and geophysical magnetic and IP surveys conducted by Solitario indicates mineralization extends beyond the current drill pattern.