Solitario Discovers New Gold Bearing Areas on its Golden Crest Project; Reports Highest Gold Grade to Date; Expands Land Position
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Solitario Discovers New Gold Bearing Areas on its Golden Crest Project; Reports Highest Gold Grade to Date; Expands Land Position

DENVER, CO / ACCESSWIRE / November 8, 2021 / Solitario Zinc Corp. ("Solitario") (NYSE American:XPL)(TSX:SLR) is pleased to announce that it has discovered two new areas containing significant gold mineralization at surface on its Golden Crest project. Based on these results, and its ongoing exploration program, Solitario has expanded its mineral claim position from approximately 18,500 acres to 21,340 acres of mineral rights located in western South Dakota.

These mineral claims comprise a strategic land holding along the western extension of the Homestake-Wharf mining complex that has produced well in excess of 50 million ounces of gold with another 20-30 million ounces in historical resources. The project area is in a safe jurisdiction with highly developed infrastructure, an unbroken 145-year record of continuous gold mining, a skilled mining workforce and a history of high-grade, underground mineable gold deposits.

Assay results of surface grab samples from four new areas of the Golden Crest project are presented in this news release. Two of the four newly sampled areas (see table below) returned significant gold values, while the other two had anomalous gold. This round of assay results includes the highest assay value obtained from the surface to date - 8.13 grams of gold per tonne ("gpt") in grab sample number 6055020. Two other samples from the Downpour target contained 5.90 gpt and 1.65 gpt gold. The average grade of all nine samples collected from the Downpour area was 1.86 gpt gold.

Downpour Prospect

Log Jam Prospect

Sample Number

Gold (parts/billion)

Sample Number

Gold (parts/billion)

6055020

8,130

6055034

26

6055021

5,900

6055035

364

6055022

447

6055036

524

6055023

1,650

6055037

24

6055024

197

6055025

309

6055026

6

6055038

70

6055039

26

Chris Herald, President and CEO of Solitario, stated: "When we began our exploration work earlier this year at the Golden Crest project, our thesis was that a large gold endowment could exist at depth in limestone covered terrain west of the Super Giant Homestake-Wharf gold complex. Our work to date fully supports this hypothesis. Collecting multi-gram gold samples in the shadow of a +70-million-ounce gold district, with virtually no evidence of any past exploration, is truly remarkable. Solitario intends to move forward with more advanced exploration efforts, including a drill program for 2022, pending completion of permitting. We firmly believe that the Golden Crest project could emerge into one of the most important greenfield exploration projects in North America."