Solitario plans to conduct drilling at Bright Angel

Executive Summary

• Solitario Resources Corp. has filed a Plan of Operations with the U.S. Forest Service to conduct its maiden core drilling program at the Bright Angel gold-copper project in Colorado.
• This marks the first drilling activity on the property since 1970, when Anaconda Copper drilled 11 core holes. The new program aims to test a mineralized porphyry stockwork with significant surface gold and copper values.
• The company highlights the potential for an alkalic pipelike porphyry system, which is characterized by higher grades of gold and copper compared to traditional calc-alkaline systems, citing recent metal price highs and copper's designation as a critical metal.

Key Details

• Project Location: Bright Angel gold-copper project, Colorado.
• Activity: Maiden core drilling program; filed Plan of Operations with U.S. Forest Service.
• Historical Context:
  • Previous drilling occurred in the late 1960s (186 shallow holes, ~16m deep) and 1970 (11 core holes by Anaconda Copper, 270–783m deep).
  • Anaconda intersected 0.1% to 0.3% Cu in six holes but did not assay for gold due to fixed gold prices ($38/oz) at the time.
  • Solitario cannot verify historic assay results but notes surface rock sampling is consistent with historic upper 20m grades.
• Geological Target:
  • Mineralized porphyry stockwork with significant gold and copper at surface.
  • Traced over an area ~750m long and up to 600m wide.
  • Targeted as an alkalic pipelike porphyry, potentially hosting higher grades than calc-alkaline systems found in Arizona/Chile.
• Upcoming Surveys: Drone magnetic survey and possibly induced polarization (IP) geophysical survey planned for the coming field season.
• Qualified Person: Walter Hunt (reviewed and approved under NI 43-101).
• Company Portfolio Context:
  • Solitario also holds the Golden Crest project (SD, 31,500 acres, major drilling scheduled for 2026).
  • Holds 100% interest in Cat Creek critical mineral project (CO, drilling scheduled for 2026).
  • Holds 50% JV in Lik zinc deposit (Alaska) and 39% JV in Florida Canyon zinc project (Peru).
  • Cash position: ~$8.2 million USD.
  • Newmont Corp. owns 9.3% of shares.

Notable Quotes

• "With both gold and copper trading near all-time highs and copper being designated as a critical metal by the U.S. government, we are very excited to move this project forward. Results from previous drilling point to a definitive, and potentially significant, gold-copper porphyry target." — Chris Herald, President and CEO
• "We believe that Bright Angel represents an alkalic pipelike porphyry characterized by high grades for both gold and copper with deep roots... It is now recognized that an alkalic subclass... commonly hosts pipelike geometries, with higher copper and gold grades than calc-alkaline copper porphyry systems common in the Arizona and Chilean copper belts." — Chris Herald, President and CEO