Agoracom

and further comments on today's SLT NR re Riou.

I posted this on October 17-

 Exploration is a step by step procedure in most cases. The bonanza finds are rarely a one hole successful find. Eventually a company may come to the conclusion that more efforts will not be effective but it would appear that Rubicon and Solitaire are signaling that they still expect to continue their efforts as they have not given up on the area
The above applies to the drilling program which Solitaire is now pursuing on its wholly owned Riau property. Intense geophysical and chemical testing together with airborne surveys has been used to attempt to delineate a major uranium ore body. Have taken these steps SLT has now started a limited drill program This initial drill program will test the geological structures under consideration. It is hoped that the geologists will learn more regarding the geological structures present. Hopefully indicator minerals and “halo’ structures will be located. Ideally radioactive indicators will be revealed and a core containing uranium will be obtained. However this first project is being drilled to a lesser depth. Deep drilling on indicated targets will not take place until January and February. I am not pointed this out so as to lower expectations .But failure to retrieve uranium on this first project should not be considered a failure and precipitatea sell off
 The true test of Riou will come in the winter drilling season. Naturally the company would hope for encouraging indicators on this first program.
Mining exploration is part science but is also part art. The knowledge of the geologist depends not just on their mechanics but also on their knowledge of the terrain and complexities of the geology and how they interpret them. SLT geologists have shown their expertise on many projects and we can only hope it leads to success here.
But true investigating is weighing all factors and judging whether the variables are manageable and worth the risk. Each investor must make those considerations and not allow “mob instinct’ to sway his judgment. The Markets are illogical beasts over or under valuing projects.
Good luck to all..

  I then posted an update on Oct 24

They are now drilling the 3rd hole at Riou. My impression is that they are quite happy with the first two holes as it is confirming the geological model that they had formed for the potential uranium ore body.
that is NOT to say they have recovered uranium -I do NOT KNOW whether they have or not.
Although they had originally stated that hey would drill 4000 metres in this program, I was led to believe this third hole will probably be their last on this program.
I DO NOT TAKE THIS AS A NEGATIVE. I think they have ascertained what they were looking for in this area. The main drill program will be drilled by a rig that is capable of going much deeper than 400 metres to the areas of indicated major uranium deposits . That program will be in the Jan.- Feb. time frame

  Here are what i believe are the most relevant parts of today's Press release and further comments by myself.

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.

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.

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."

This news release illustrates the transparency which shareholders should applaud, a recitation of what went right and what went wrong in their first phase of their program.

  It obviously was aborted for two reasons- One it gave them the indications of 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.” And  second, the problems encountered in attempting to drill “soft sandstone”.

Having successfully achieved 1 and encountered 2, they wisely decided to save money and went to their original plan of drilling deep in the winter season when ground conditions will be hard and easier to drill.

  Management had already stated the two phase program. Why the dismay that bashers are rushing to portray today’s report as a disaster.

 It would have been nice if they had encountered uranium and/or radiation evidence in this first phase . But, as I stated in my first statement, that would have been more luck than science. Anyone claiming otherwise is either not  familiar with exploration realities or deliberately attempting to mislead investors.

 Do your own DD and make your own decisions. Good luck to all.