Solitario Exploration & Royalty Corp. (NYSE Amex: XPL; TSX: SLR) announced outstanding drilling results on its high-grade Bongará zinc joint venture project in Peru. Included in these results are underground drill holes V-240 that intersected 26.85 meters grading 13.45% zinc+lead (“Zn+Pb”) and V-244 that intersected 32.1 meters grading 11.4% Zn+Pb; and surface drill holes V-234 that intersected 5.9 meters grading 24.1% Zn+Pb and drill hole V-235 that intersected 7.2 meters grading 14.9% Zn+Pb. Significant silver values were also encountered in these holes.
The 2011 program was managed and entirely funded by Solitario's joint venture partner Votorantim Metais (“Votorantim”). The Bongará project hosts the high-grade Florida Canyon zinc deposit where zinc mineralization has been intersected over a four square kilometer area. The deposit is open to expansion in all directions. During the fourth quarter of 2011, Votorantim added two underground core rigs and another surface core rig bringing the total rig count to four.
Solitario has received assay results from 18 surface holes and 5 underground drill holes, with assays from many additional holes pending. Fourteen of the 18 holes intersected strong mineralized intervals. Surface drilling reported in this release is focused on the Karen-Milagros zone located in the northern part of the Florida Canyon mineralized system. All underground drilling is being conducted in the San Jorge zone situated in the southwestern part of Florida Canyon. All underground drill holes reported in this release were fan-drilled from underground drill station #4.Chris Herald, President and CEO of Solitario commented, "The Bongará project has advanced to a new and exciting stage with the onset of detailed underground drilling, augmenting the continuation of surface exploration. Drilling results continue to come in strong adding both new resources and increasing the confidence level of existing resources. Votorantim will be advancing the project through pre-feasibility by the end of 2012, including additional surface and underground drilling."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV