Drill Results
Solitario Advances 2026 Ponderosa Drilling Program
Solitario advances drilling across three U.S. assets, with assay results expected in August as the stock tests resistance levels.
Executive Summary
- Solitario Resources reports that its 2026 Ponderosa drilling program at the 100%-owned Golden Crest gold project is well advanced, with four core holes completed and initial assay results expected in early August 2026.
- Preparations are nearly complete for the first-ever drilling program at the Cat Creek critical metals project in Colorado, located within the world-class Climax-Henderson-Questa molybdenum porphyry belt.
- The company continues to advance drilling permits for its recently acquired Bright Angel copper-gold project in Colorado.
- The company maintains a cash position of approximately US$9.2 million with no debt.
- Newmont Corporation remains the largest shareholder with 9.3% of the 92.4 million shares outstanding.
Material Impact
- The news represents a standard operational update confirming that previously announced drilling programs are progressing on schedule. The Ponderosa program began in late May 2026, and reporting initial assays in early August aligns with typical laboratory turnaround times.
- The Cat Creek and Bright Angel project updates are incremental follow-ups to the October 2025 and January 2026 announcements, respectively. No new material discoveries, financing events, or strategic partnerships are disclosed.
- Financially, the update does not alter the company's burn rate or capital requirements. The stated cash balance of $9.2 million provides adequate runway to complete the 2026 exploration budget (~$5.67 million) without immediate dilution.
- From a market perspective, the information is fully priced into the current share price. The stock has already consolidated in the $1.10–$1.20 range following the March 2026 high, reflecting the market's expectation of steady, non-catalytic exploration progress.
SLR · Price
Company Overview
- Solitario Resources is an exploration-stage company focused on precious and critical metals in North and South America.
- Flagship Project: Golden Crest (South Dakota), a 31,500-acre 100%-owned property. The Ponderosa area has shown multi-gram gold surface anomalies and high-grade silver intercepts (e.g., 1,445 g/t Ag over 1.2m in hole GC-012).
- Other Assets: Cat Creek (Colorado, 100% lease, Mo-Re porphyry), Bright Angel (Colorado, 100% acquired, Au-Cu porphyry).
- Joint Ventures: 50% interest in Lik zinc deposit (Alaska) with Teck Resources; 39% interest in Florida Canyon zinc project (Peru) with Nexa Resources.
- The company is entirely exploration-stage with zero revenue and relies on equity financing to fund operations.
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May 13, 2026 · 08:30