Now HERE IS GREAT NEWS
posted on
Jan 31, 08 02:59PM
The D?line Land Corporation Informs Solitaire Minerals Corp. to Proceed
with its Drill Permitting Process In the Great Bear Region Honouring our
Current Land Access Agreement
January 31, 2008: Solitaire Minerals Corp. (TSX-V: SLT) (The Company) is
pleased to announce that it had the honour of meeting with senior
members of the D?line Land Corporation on January 29, 2008 in Vancouver,
B.C. The D?line Land Corp. informed the Company that all agreements
preceding the imposed moratorium will be honoured which included
Solitaire's Land Access Agreement which allows the Company to proceed
with the application for drilling permits on its Eldorado and Mystery
Island properties. The D?line also informed the Company that Solitaire
Minerals would be able to drill this year after consultation with the
D?line Community Members. Solitaire will inform the community of the
Company's plans and address all concerns from all members of their
Community. It was made clear by the D?line Land Corp. that no new Land
Access Agreement's will be approved until the government sits down at
the table with their representatives and these issues have been resolved
to the approval of the D?line Community. In the spirit of co-operation,
the D?line Land Corporation, representing the community of the D?line,
has approved the content of this news release.
"We are pleased to learn from the D?line Land Corporation that they
welcome Solitaire to explore and proceed with the drilling permitting
process on all of our properties in the Great Bear Lake area," said
Charles Desjardins, President of Solitaire Minerals Corp., "We look
forward to working with the D?line Community to ensure an effective
exploration and drill program will be executed that will have minimal
environmental impact."
Solitaire Minerals Corp. is also aware that the D?line Community has
first class businesses that would aid the Company in its exploration.
Solitaire will look to the D?line Community to provide these essential
services as their knowledge of the area is unparalleled.
The Eldorado Property, consisting of 887.36 acres, adjoins the Mystery
Island property and expands the total property size to 22,717.23 acres.
The Eldorado/Mystery Island Property is located at Port Radium on the
east side of Great Bear Lake, Northwest Territories, and 423 miles north
of the city of Yellowknife.
Charles Desjardins the president of Solitaire Minerals Corp. stated
"Solitaire has a tremendous advantage with the acquisition of Kinross
technical library. The information on Echo Bay Mines and Eldorado
Uranium Mine and exploration reports for the entire mining camp is going
to guide our exploration efforts; a combination of data from several
historical holes, our ground program, and high priority targets from our
Airborne Geophysics will improve our chances of success."
Mystery Island Review
The Mystery Island project consists of approximately 21,830 acres which
is being explored for iron-oxide, copper, gold, silver and uranium
targets. The mineralization and geology of the Great Bear magmatic zone
indicate similarities with the Olympic Dam IOCG deposit. The Olympic
Dam, or the IOCG model, is proposed as the main exploration model for
the Mystery Island property in this specific part of the Great Bear
magmatic zone. The Olympic Dam deposit at Roxby Downs in the Gawler
Craton of southwest Australia consists of dike-like, hematite-rich
diatreme breccias in granite and felsic volcanics, and has a reported
resource of 2.32 billion tonnes of 1.6 per cent copper, 0.5 gram per
tonne gold, 3.5 grams per tonne silver and 0.4 kilogram per tonne U3O8.
The Mystery Island property is situated in a similar geological setting
that has the potential to host high-unit-value polymetallic
mineralization associated with large-tonnage, IOCG-type deposits, as
well the potential to host Echo Bay-type, high-grade, lower-tonnage
U3O8-Ag mineralization.
Eighteen grab samples were originally submitted from the 2006 ground
program for 31-element ICP analysis to Acme Analytical Laboratories Ltd.
in Vancouver, B.C. Five samples returned values greater than 10,000
parts per million (1 per cent) copper which is the upper detection limit
for this type of analysis. One sample graded 0.13 per cent uranium.
Seven anomalous samples were resubmitted for copper assay. These
results, with corresponding cobalt (ICP analysis) are listed below:
Table 1: Results from the 2006 Mystery Island Ground Program
Sample # % Copper % Cobalt
MI-06-01 1.202 0.051
MI-06-02 1.826 0.109
MI-06-03 2.665 0.158
MI-06-04 0.916 0.179
MI-06-05 1.577 0.163
MI-06-06 1.467 0.050
MI-06-07 0.774 0.125
*These samples were collected prior to the knowledge from our historical
library
Work by Echo Bay Mines in 1981 noted that the geology of Mystery Island
(100% Solitaire interest) is similar to that of Contact Lake mine.
Sampling, by Echo Bay, around the adit located on Mystery Island,
returned grades of up to 16.90% copper and 3.4 oz silver per ton.
Sampling, by Solitaire, in 2006 at a nearby location returned values of
up to 2.665 % copper, 0.179% cobalt and 0.13% uranium (previously
reported January 15, 2007
Eldorado Property Review
Pitchblende (uranium plus silver, copper, nickel, lead and polonium) was
formerly mined from the Eldorado Nuclear/Uranium Mine at Port Radium
commencing in 1933. The Port Radium uranium belt along with the Uranium
City district were Canada's principal producers of uranium during the
1930s and 1940s. The mine closed in 1960. Since that time, important
advances in uranium exploration methods and the genesis of uranium
deposits have evolved. Also, the area has been recognized as a
favourable environment for IOCG (iron ore copper gold) deposits.
Uranium production from the Eldorado Nuclear/Uranium Mine was from veins
emplaced along northeast trending faults. All of these structures merge
into the Bear Bay Shear Zone, a deep seated regional structure which has
never been tested. In addition, there is potential for the structures
hosting high grade silver mineralization in the Echo Bay mine to extend
onto Solitaire's property.
Mike Magrum, PEng, a qualified person under National Instrument 43-101,
has approved the technical content of this news release.
For additional information please contact Solitaire Minerals Corp. or
visit www.solitaireminerals.com.
About Solitaire Minerals Corp. Solitaire Minerals Corp. (TSX-V symbol:
SLT) is a diversified junior Canadian mineral exploration company with a
specific focus on mineral properties in North America. The Company has
assembled a portfolio of precious and base metal exploration prospects
in Ontario, Saskatchewan, Alberta, and the North West Territories.
Solitaire's Ontario properties in the Red Lake/Birch-Uchi Greenstone
Belt include the Baird, Heyson and Chukuni River Prospects, in which the
Company has agreements to earn 100% in, but has not yet vested its
interest. In addition, the Company has entered into an option agreement
with another company, whereby that company may earn up to a 75% interest
in the Baird Property. The Company also has an option to earn 100% in
the Lateral Lake West property located in the Webb township of Ontario.
In Saskatchewan, the Company has signed a purchase agreement to acquire
a 100% interest in the "D" Block of claims and up to a 70% interest in
the "C" Block of claims located in the Athabasca Basin. The Company has
also acquired the Riou Lake North and South properties in which the
Company has 100% interest and a 90% interest in the central Riou Lake
Property. In Alberta, the Company has purchased the Ravenscrag property
in which the Company has 100% interest. In the North West Territories,
the Company has purchased the Mystery Island IOCG Property located in
the Great Bear Lake area in which the Company has 100% interest.
For additional information please contact Solitaire Minerals Corp. or
visit www.solitaireminerals.com.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
"Charles Desjardins"
Charles Desjardins,
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