Partners fill in Pedra Branca

All but three of 25 holes sunk by Solitario Resources (SLR-T) on its Pedra Branca platinum-palladium project in northeastern Brazil have returned significant mineralization at shallow open-pittable depths.

The holes were designed to test the continuity of mineralization of the Esbarro prospect on 50-metre centres, and the Curiu deposit on 25-metre centres.

Sixteen holes collared on Esbarro were highlighted by:

• Hole 15 – 26.9 metres (from 30.4 metres below surface) grading 1.3 grams platinum, 2.75 grams palladium per tonne;
• Hole 18 — 9 metres (from 3.8 m) averaging 1.9 grams palladium and 3.8 grams platinum;
• Hole 26 – 2.9 metres (from 29.5 m) averaging 1 gram palladium and 1.4 grams platinum;
• Hole 30 – 3 metres (from 48 m) running 1.5 grams palladium and 1.1 grams platinum; and
• Hole 32 – 10.3 metres (from 39.9 m) averaging 1.45 grams palladium and 2.1 grams platinum;

The holes also contained minor gold values.

Six holes sunk on the Curiu prospect, 3 km to the northeast, were highlighted by a 10.2-metre interval in hole 8 grading 2.45 grams platinum and 3.4 grams palladium, 9.7 metres in hole 12 running 2.2 grams platinum and 3.65 grams palladium, and a 7-metre section in hole 13 grading 2.4 grams platinum and 4.2 grams palladium.

By funding the holes, Anglo American Platinum (AAPTY-O) has completed US$500,000 in work on the property. The company is reviewing the results to see if it will foot the bill for another US$500,000 in exploration. Preliminary metallurgical testing of drill core has also begun.

Anglo Platinum can earn a 51% interest in Pedra Branca by spending US$7 million over four years. The company can then boost its stake to 65% by completing a bankable feasibility study and arranging project financing.