Solitaire to drill seven targets at Riou Lake
Solitaire Minerals Corp (C:SLT)
Shares Issued 86,726,580
Last Close 10/31/2007 $0.19
Wednesday October 31 2007 - News Release
Mr. Charles Desjardins reports
SOLITAIRE MINERALS CORP. CONFIRMS THE PRESENCE OF A HIGHLY ALTERED FAULT ZONE AT THE RIOU LAKE URANIUM PROPERTY, IN THE ATHABASCA BASIN
Solitaire Minerals Corp. has completed the initial phase of the diamond drill program on its Riou Lake uranium exploration project located in the Athabasca basin of Northern Saskatchewan.
Solitaire Minerals has selected several high-priority targets due in part to the interpretation of the soil gas hydrocarbon (SGH) analyses collected from a grid of soil samples. The drill program will encompass a minimum of 4,000 metres, with all targets to be collared on dry land south of Riou Lake and concentrated near the centre of the soil gas hydrocarbon anomalies designated by Actlabs as the primary target and secondary target, in conjunction with other geochemistry from the area.
Samples from the main grid, which were taken along the previously identified eight-kilometre-long escarpment fault (the escarpment is eight kilometres; the fault can be traced at least 12 kilometres) produced two strongly anomalous areas, which Actlabs believe indicate a very high probability of a uranium target at depth. This is the highest level of detection possible under the SGH rating system, under which there are six categories ranging from a low-probablilty rating to a very-high-probability rating. A very-high-probabilty rating means that the SGH classes most important to describing a uranium signature are all present and consistently describe the same location with well-defined anomalies. To obtain this rating, there also needs to be other SGH classes that when mapped lend support to the prediction location.
The SGH class signature in the exploration for a uranium target is primarily made up of heavier SGH classes of compounds. The Actlab interpretation method and definition of the SGH uranium signature has been developed through research since 1997 by Actlabs, including analysis of case studies, especially from the two Canadian Mining Industry Research Organization projects (CAMIRO 97E04 and 01E02), as well as research conducted by the Ontario Geological Survey (OGS).
The three primary uranium indicator classes resulted in apical-style anomalies in two areas of the main grid. These areas replicated exceptionally well across the three SGH indicator classes, which means that the interpretation at this site was very definitive. Thus, due to the agreement across the SGH uranium indicator classes, there is a very high probability of uranium targets at the primary and secondary target areas shown at the main grid. The secondary target is only slightly less in quality of agreement and may actually have the same characteristics as the primary uranium target area. In this interpretation, the best drill targets are most likely to coincide with the centre of the high SGH anomaly areas within the primary and secondary target zones.
The only drill available for this program was a hydraulically powered model, which could be mobilized to the site by helicopter. The purpose of proceeding with it at this time was to confirm the existence of the fault zone, to test for shallow alteration and/or mineralization along it and to accurately determine the dip of the zone so that deeper holes requiring a larger machine could be more precisely designed.
Three holes to intersect the main fault zone near surface were attempted and partially completed. The ground was found to be extremely disrupted with gouge (clay) seams indicative of faulting and the sandstone is in part intensely altered. Circulation of drilling fluid was frequently lost in open fractures resulting in several strings of drill rods becoming jammed in the holes and not recovered. It was therefore decided to terminate the program and proceed later with a larger machine better equipped to cope with the difficult ground. If normal winter conditions prevail it should be possible to mobilize a larger drill to the site over an existing winter road from Stoney Rapids to Riou Lake in January.
No significant radioactivity was encountered. However, sufficient core was recovered to test it geochemically for ore-related alteration.
Jim Kermeen, MSc, PEng, the qualified person for this release, states, "Although the drilling has been difficult, we have confirmed the presence of a highly altered fault zone and I am confident that with more powerful equipment we will be able to successfully test it at depth during the coming winter drilling season."
