Solitario hits new mineralization at Pedra Branca

Vancouver — Denver-based Solitario Resources (SLR-T) has recently completed its phase 2, nine hole, drill program and cut new platinum, palladium mineralization at its Santa Amaro and Cedro 1 prospects at the Pedra Branca project in Brazil.

Solitario’s 100% owned Santo Amaro prospect is situated north of the original Pedra Branca area. It has undergone geologic mapping, geophysical surveying and trenching. Five holes were drilled into the prospect and all but one intersected PGM mineralization. Solitario is now planning a phase 3 drilling campaign which will test several new undrilled prospects as well as further define and expand known areas of mineralization.

"Solitario’s new exploration ideas for the Pedra Branca property are producing the results we hoped for," said Chris Herald, CEO of Solitario. "Using a new strategy, we have successfully identified and drill tested previously unrecognized targets and believe that a number of newly emerging prospects should give similar results."

Results from the phase-2 program are as follows;

Drill holes SA-1 2 and 5 tested a northwest trending zone of surface mineralization with holes spaced 60-to-70 metres apart and along strike. Hole SA-1 cut 29.5 metres grading 0.67 gram platinum and 1.14 grams palladium starting at a down-hole depth of 11 metres. This interval included a 5-metre section that averaged 1.98 grams platinum and 1.77 grams palladium.

Hole SA-2 intersected 39.1 metres grading 0.69 gram platinum and 0.86 gram palladium starting 1.8 metres down-hole. This included a 12.4-metre section that averaged 1.15 grams platinum and 1.51 grams palladium. This was followed by another 39.1-metre interval that assayed 0.50 gram platinum and 0.75 gram palladium starting 62.7 metres down-hole.

Hole SA-4 was collared 270 metres northwest of holes SA-1. It intersected 11.1 metres grading 0.80 gram platinum and 0.59 gram palladium starting 40.4 metres down-hole.

Hole SA-5 cut two intervals of mineralization. The first intersected 0.55 metres averaging 0.78 gram platinum and 3.29 grams palladium near surface and the second cut 2.2 metres grading 1.0 gram platinum and 2.21 grams palladium starting 46.7 metres down-hole.

Hole SA-3 was collared 170 metres to the southeast of SA-1 failed to intersect ore-grade mineralization.

The Cedro area hosts a cluster of at least six prospects within a zone that measures 2.5-by-1.0 km long. These prospects are situated about 14 km north of the Trapia area and tree km west of the extensively drilled Esparro deposit. Two holes were drilled at Cedro-1. The first hole, CD-9 intersected 2.0 metres grading 1.77 grams platinum and 8.34 grams palladium starting at a down-hole depth of 13.0 metres. This was followed by a 6-metre interval that assayed 0.37 gram platinum and 0.72 gram palladium starting 30.0 metres down-hole.

Drill hole CD-10 was collared 65 metres from CD-09 and cut only anomalous values of platinum and palladium mineralization. A single hole drilled at the Cedro-4 prospect, hole CD-08 also only intersected anomalous PGM mineralization.