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Solitaire's Mystery Island Yields High Grade Copper from Review of Technical Library
Solitaire's Mystery Island Yields High Grade Copper from Review of Technical Library.
About this update from Pegasus Resources Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, March 7 /CNW/ - Solitaire Minerals Corp. (TSX-V symbol: SLT)\n(the Company) is pleased to announce that the recently commenced review of the\nKinross technical library for the Port Radium uranium district has already\nproduced significant results for the Company. The technical library includes\nEcho Bay Mines and Eldorado Nuclear mine and exploration reports for the\nentire mining camp. 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). The Contact Lake mine is\nowned by Alberta Star Development Corp. (TSX-V:ASX) and was drilled in 2006.\n\n\nSolitaire's president and chief executive officer, Charles Desjardins,\ncommented that: "The acquisition of the Eldorado property and Kinross's\ntechnical library has already proven to be a very value added move by\nSolitaire. We believe that this area has the potential to host world-class\nuranium deposits in high-grade uranium/silver veins or in a high-tonnage\nuranium/IOCG setting. The current spot price for uranium is $85 (U.S.) per\npound."\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. Alberta Star carried out a\nmajor exploration program, including a large drill program in 2006. The\nOlympic Dam or IOCG model is proposed as the main exploration target on\nSolitaire's properties in this part of the Great Bear magmatic zone. The\nOlympic Dam deposit at Roxby Downs in the Gawler craton of southwest Australia\nconsists of dike-like, hematite-rich diatreme breccias in granite and felsic\nvolcanics and has a reported resource of 2.32 billion tonnes of 1.6 per cent\ncopper, 0...