Solitario Receives Positive USFS Decision Memo Approving its Ponderosa Drilling Plan of Operations
Solitario clears final regulatory hurdle for high-grade Ponderosa gold target as drilling looms
The most recent news (February 26, 2026) announces that Solitario has received the official Decision Memo from the U.S. Forest Service (USFS) approving its Plan of Operations for the Ponderosa prospect at the Golden Crest project in South Dakota. This marks the completion of the NEPA (National Environmental Policy Act) process. The company is now authorized to begin a Phase-One 5,000-meter drilling program starting in mid-May 2026. The permit includes approval for 49 drill platforms. Ponderosa is described as the largest high-grade gold surface anomaly discovered to date on the property, with grab samples spanning a 2.0 x 1.5 km area.
This news is Material - Positive because it removes the primary bureaucratic bottleneck that has delayed the testing of Solitario’s most promising target. - Permitting De-risking: The transition from "awaiting permits" (noted since September 2025) to an approved "Decision Memo" is a critical milestone in US-based exploration. - Target Quality: Ponderosa is the company's flagship "high-grade" target. Previous results from other areas of Golden Crest (like GC-012's silver hit) were incidental; Ponderosa is the primary structural target the market has been waiting for. - Operational Readiness: With 49 approved platforms and a mid-May start date, the company has a clear runway for news flow throughout the 2026 summer season. - Validation: The thorough vetting by the USFS and South Dakota state agencies reduces the risk of future environmental litigation or work stoppages.
Solitario is a precious and base metals explorer. Its flagship is the Golden Crest Project in South Dakota, located adjacent to the historic Homestake Mine district (which produced 52M oz gold). - Golden Crest: A 33,000-hectare land package. Recent drilling (Phase 1) yielded a surprise high-grade silver intercept (1,445 g/t Ag over 1.2m) and several gold intervals. - Ponderosa: The specific high-priority target within Golden Crest now permitted for 2026. - Secondary Assets: Florida Canyon (Zinc, Peru - 10% Zn Eq) and Lik (Zinc, Alaska). These provide a valuation floor but are currently secondary to the gold exploration.