Solitario Exploration & Royalty Corp.

Published : May 29th, 2014

Solitario Updates Activities on Its Pedra Branca and Pachuca Norte Projects

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Solitario Updates Activities on Its Pedra Branca and Pachuca Norte Projects

DENVER--(BUSINESS WIRE)--

Solitario Exploration & Royalty Corp. (“Solitario;” NYSE MKT: XPL; TSX: SLR) is pleased to provide an update on its Pedra Branca platinum-palladium project in Brazil and its Pachuca Norte silver-gold project in Mexico.

Pedra Branca Platinum-palladium Project, Brazil

Solitario’s joint venture partner, Anglo Platinum Ltd., has initiated a core drilling campaign on the Pedra Branca Project in northeastern Brazil. Anglo Platinum, manager of the project, is planning to complete up to 6,000 meters of core drilling on several magnetic geophysical targets. Anglo Platinum identified these new magnetic targets as a result of a regional airborne magnetic survey they conducted in 2013.

The Pedra Branca project is held through a joint venture with Anglo Platinum controlling 51% and Solitario 49%. Anglo Platinum is providing 100% of the funding for the 2014 drilling program. Over 300 core holes have been drilled on the property to date. Initial results from the drilling program are not expected for at least a couple of months.

Pachuca Norte Silver-Gold Project, Mexico

Solitario’s joint venture partner on its Pachuca Norte silver-gold project in central Mexico, Hochschild Mining plc, has notified Solitario that they have elected to terminate their option to earn an interest in the project. Hochschild recently completed an 18-hole core drilling program totaling 5,573 meters. Highlights of this drilling program (intercepts grading better than 100 grams per tonne silver equivalent, or better) are presented in the table below.

 

Pachuca Norte Drilling Highlights

Drill Hole

Number

  Intercept*

(meters)

  Starting At

(meters)

  Gold

(g/t)

  Silver

(g/t)

  Silver Equiv.**

(g/t)

DDHPA13-02   0.60   177.60   6.21   520.0   892.6
DDHPA13-05   1.10   272.90   0.83   64.3   114.1
DDHPA14-10   0.28   355.97   0.61   79.2   115.8
DDHPA14-11   0.30   178.55   1.01   88.0   148.6
DDHPA14-13   0.90   246.10   0.01   256.0   256.0
and   0.80   263.85   6.57   392.0   786.2
DDHPA14-15   1.15   86.35   1.16   57.4   126.7
DDHPA14-16   0.82   22.21   2.11   41.6   168.2
and   1.52   62.27   1.65   72.0   170.9
DDHPA14-18   2.80   250.90   1.40   68.8   152.8

* True width has not been calculated for each individual intercept, but true width is generally estimated at 60%-75% of drilled width;

** Silver Equivalent (AuEq) was calculated using a Ag:Au ratio of 60:1

Solitario will review the results of this program, as well as previously generated data, and decide whether to continue independent exploration, seek a new joint venture partner, or reduce its land holding in the project. Drill hole information contained within this release is reported under Hochschild’s quality control program reviewed by Mr. Walt Hunt, COO for Solitario Exploration & Royalty Corp., who is a qualified person as defined by National Instrument 43-101.

About Solitario

Solitario is a gold, silver, zinc-lead and platinum-palladium exploration and royalty company actively exploring in the United States, Brazil, Mexico, and Peru. Solitario is currently focused on permitting its 80%-owned Mt. Hamilton Gold Project in eastern Nevada. Besides Anglo Platinum, Solitario also has a significant business relationship with Votorantim Metais, on its advanced Bongará zinc project in Peru. A NI 43-101 compliant resource estimate is expected on Bongará by mid-June 2014. Solitario is traded on the NYSE MKT ("XPL") and on the Toronto Stock Exchange ("SLR"). Additional information about Solitario is available online at www.solitarioxr.com

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization, resources and reserves, exploration results and future plans and objectives of Solitario, future plans and objectives of Solitario’s joint venture partner Votorantim Metais are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Development of Solitario’s properties are subject to the success of exploration, completion and implementation of an economically viable mining plan, obtaining the necessary permits and approvals from various regulatory authorities, compliance with operating parameters established by such authorities and political risks such as higher tax and royalty rates, foreign ownership controls and our ability to finance in countries that may become politically unstable. Important factors that could cause actual results to differ materially from Solitario’s expectations are disclosed under the heading "Risk Factors" and elsewhere in Solitario’s documents filed from time to time with Canadian Securities Commissions, the United States Securities and Exchange Commission and other regulatory authorities.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Brazil | Mexico | Peru | All
Gold and Silver Prices for these countries : Brazil | Mexico | Peru | All

Solitario Exploration & Royalty Corp.

EXPLORATION STAGE
CODE : SLR.TO
ISIN : US8342EP1070
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Solitario Exploration & Royalty is a gold and zinc development stage company based in United states of america.

Solitario Exploration & Royalty holds various exploration projects in Peru and in USA.

Its main exploration properties are PEDRA BRANCA and MERCURIO in Brazil, CHONTA, CHAMBARA, YANACOCHA and LA PROMESA in Peru, PACHUCA REAL in Mexico and MOUNT HAMILTON in USA.

Solitario Exploration & Royalty is listed in Canada and in United States of America. Its market capitalisation is CA$ 27.1 millions as of today (US$ 21.9 millions, € 18.9 millions).

Its stock quote reached its highest recent level on August 29, 1997 at CA$ 6.25, and its lowest recent point on March 20, 2020 at CA$ 0.22.

Solitario Exploration & Royalty has 38 690 000 shares outstanding.

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Financings of Solitario Exploration & Royalty Corp.
2/21/2014Commitments for $1,680,000 Private Placement
7/26/2013Closing of $2,059,589 Private Placement Including Insider Pu...
5/1/2013Closing of Private Placement to Acquire 5,131,150 Shares of ...
4/24/2013Private Placement with Ely Gold with Reduced Earn-in Payment
Project news of Solitario Exploration & Royalty Corp.
2/7/2014Zinc Uptrend Could Benefit Solitario Exploration
12/22/2010(Mount Hamilton)SOLITARIO AND ELY ENTER INTO DEFINITIVE JOINT VENTURE AGREEM...
1/12/2010(Bongarà)Major Expansion of Exploration & Development Activities on i...
1/7/2010(Pedra Branca)Drilling Results at Pedra Branca
1/29/2009(Bongarà)DRILLING RESULTS ON ITS BONGARÁ ZINC PROJECT, PERU
12/2/2008(Pedra Branca)ANNOUNCES ADDITIONAL MINERALIZATION INTERSECTED
3/13/2008(Pedra Branca)reported a major expansion in land holdings
9/20/2007Announces Significant Drilling Results
Corporate news of Solitario Exploration & Royalty Corp.
7/25/2016Solitario Exploration & Royalty Corp. Reports Results of Ann...
6/6/2016Solitario Purchases NSR Royalty on Prospective Properties in...
5/4/2016Solitario reports 1Q loss
8/25/2015Solitario and Ely Gold Close Transaction to Sell their Inter...
8/14/2015Solitario Exploration & Royalty Corp. Reports Results of Ann...
8/14/2015Solitario Reports Results of Annual Meeting of Shareholders
8/11/2015Solitario posts 2Q loss
4/2/2015Solitario Announces Milpo/Votorantim Have Earned a 61% Inter...
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2/3/2015Solitario Options Its Norcan Copper Project in Mexico
1/14/2015Solitario Announces Mt. Hamilton Reclamation Permits Approve...
1/14/2015Solitario Announces Mt. Hamilton Reclamation Permits Approve...
11/19/2014Solitario Announces Milpo to Manage It's Bongará Zinc Operat...
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10/20/2014Solitario Announces Updated Mt. Hamilton Feasibility Study; ...
10/20/2014Solitario Announces Updated Mt. Hamilton Feasibility Study
9/2/2014Solitario Completes Environmental Assessment Process on Its ...
5/29/2014Solitario Updates Activities on Its Pedra Branca and Pachuca...
4/23/2014Solitario Engages SRK Consulting to Complete an Initial NI 4...
4/17/2014Solitario Clarifies Technical Disclosures
12/3/2013Recent Transactions Bolster Solitario's Future Financial Pos...
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10/1/2013Announces Resources Sensitivities to Gold Price for Its Mt. ...
9/19/2013Announces Resource and Metallurgy Update for Its Mt. Hamilto...
8/20/2013Intersects 10.7 Meters Grading 50.8% Zinc + Lead on itsBonga...
8/7/2013Announces High-Grade Drilling Results on its Bongará Zinc Pr...
10/26/2012NI 43-101 Technical Report Filed for its Mt. Hamilton Gold P...
7/19/2011CEO Chris Herald to Make Presentation in Denver, CO on July ...
5/19/2011News Release
4/13/2011News Release
2/18/2011News Release
11/19/2009Updates 2010 Exploration Plans
2/7/2009Revise Previously Issued Financial Statements
11/10/2008to Present at John Tumazos Very Independent Research, LLC Me...
7/25/2008Five Drills Now Operating on Solitario Projects
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