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Solitaire Minerals Retain Condor Consulting Ltd. For Interpretation of Mystery Island VTEM Geophysical Survey
Solitaire Minerals Retain Condor Consulting Ltd. For Interpretation of Mystery Island VTEM Geophysical Survey.
About this update from Pegasus Resources Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, March 28 /CNW/ - Solitaire Minerals Corp. (TSX-V: SLT) (the\nCompany) has received final results from its helicopter-borne VTEM (Geotech\nLtd.) geophysical survey on the Mystery Island iron-oxide, copper, gold,\nsilver and uranium (IOGC) project (see news dated July 5, 2006). This survey\nidentified a 12 kilometer long magnetic low which is coincident with a large\nregional fault on the west side of the Port Radium mining camp. Preliminary\ninterpretation suggests that this is an expression of a major alteration zone.\nThis is very significant because this fault bounds the mining camp and has the\nsame orientation as the faults which hosted the Eldorado Mines and Echo Bay\nMines high grade uranium, silver and copper ore bodies.\n\n\nCondor Consulting Ltd., recognized experts in the field of airborne\nelectromagnetics, has been retained to perform a detailed interpretation of\nresults. This interpretation will guide the next stage of exploration.\n\n\nThe Company continues to study the extensive Kinross technical library\nfor the Port Radium uranium district which has already produced significant\nresults for the Company. The technical library includes Echo Bay Mines and\nEldorado Nuclear mine and exploration reports for the entire mining camp in\nthe Great Bear Lake Region up until 1981 when Echo Bay Ltd. ceased production\nand exploration. The Eldorado uranium mine produced 15 million pounds of\nuranium and eight million ounces of silver.\n\n\nWork by Echo Bay Mines in 1981 noted that the geology of Mystery Island\n(100% Solitaire interest) is similar to that of Contact Lake mine. Sampling,\nby Echo Bay, around the adit located on Mystery Island, returned grades of up\nto 16.90% copper and 3.4 oz silver per ton. Sampling, by Solitaire, in 2006 at\na nearby location returned values of up to 2.665% copper, 0.179% cobalt and\n0.13% uranium (previously reported January 15, 2007).\n\n\nThe Eldorado and Mystery Island projects consist of approximately\n22,717.23 acres, 430 kilometres north of Yellowknife in the Northwest\nTerritories. The property adjoins and is partly surrounded by the Alberta Star\nDevelopment Corp's Contact Lake project. Solitaire and Alberta Star share some\nof the underground working of the Eldorado mine of which Solitaire Minerals\nowns the most recent historical data.\n\n\nMike Magrum, PEng,...