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Solitario Reports Continued Drilling Success On Its Bongará High-Grade Zinc Project, Peru

Solitario Exploration & Royalty Corp. (NYSE MKT: XPL; TSX: SLR) announced continued outstanding drilling results on its high-grade Bongará zinc project in Peru. Included in these results are core holes V-287, that intersected 7.9 meters grading 24.6% zinc, 2.7% lead and 30.5 gpt silver and hole V-351 that intersected 13.0 meters grading 12.9% zinc, 4.3% lead and 32.4 gpt silver.

All drill holes reported in this news release were drilled from the surface in the Karen Milagros mineralized area (“KM-Zone”), except for three surface core holes that tested the southwestern extent of the San Jorge zone. The drilling program was managed and entirely funded by Solitario's joint venture partner Votorantim Metais (“Votorantim”). Better intercepts in this round of surface drilling are presented below.

Drilling Highlights: KM-Zone
Drill Hole




    Zn + Pb


V-287     7.9     24.56     2.69     27.25     30.51
V-288     5.4     17.71     6.04     23.75     49.12
V-325     9.0     11.06     1.18     12.24     12.71
V-329     11.4     8.09     0.29     8.38     2.31
V-330     12.6     8.99     1.91     10.9     12.28
V-333     11.0     8.41     0.86     9.27     6.05
and     7.7     12.57     9.33     21.90     7.70
V-334     4.8     24.67     5.45     30.12     42.35
V-350     8.6     7.1     4.13     11.23     28.35
V-351     13.0     12.94     4.31     17.25     32.37
V-368     5.6     11.61     3.84     15.45     23.84

* True thickness has not been estimated for each individual intercept .

Surface drilling began late in the fourth quarter of 2011 and was finished in the third quarter of 2012. During this period 50 core holes were completed in the KM-Zone and three holes in the San Jorge Zone. Remarkably, 46 of the 53 drill holes intersected mineralization grading in excess of 2.0% zinc + lead over at least two meters, or equivalent. Important mineralized intercepts are reported in a table appended to this news release. None of the results contained in this news release were previously reported.

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