Solitaire's Mystery Island Yields High Grade Copper from Review of Technical Library

    VANCOUVER, March 7 /CNW/ - Solitaire Minerals Corp. (TSX-V symbol: SLT)
(the Company) is pleased to announce that the recently commenced review of the
Kinross technical library for the Port Radium uranium district has already
produced significant results for the Company. The technical library includes
Echo Bay Mines and Eldorado Nuclear mine and exploration reports for the
entire mining camp. The Eldorado uranium mine produced 15 million pounds of
uranium and eight million ounces of silver.
    Work by Echo Bay Mines in 1981 noted that the geology of Mystery Island
(100% Solitaire interest) is similar to that of Contact Lake mine. Sampling,
by Echo Bay, around the adit located on Mystery Island, returned grades of up
to 16.90% copper and 3.4 oz silver per ton. Sampling, by Solitaire, in 2006 at
a nearby location returned values of up to 2.665 % copper, 0.179% cobalt and
0.13% uranium (previously reported January 15, 2007). The Contact Lake mine is
owned by Alberta Star Development Corp. (TSX-V:ASX) and was drilled in 2006.
    Solitaire's president and chief executive officer, Charles Desjardins,
commented that: "The acquisition of the Eldorado property and Kinross's
technical library has already proven to be a very value added move by
Solitaire. We believe that this area has the potential to host world-class
uranium deposits in high-grade uranium/silver veins or in a high-tonnage
uranium/IOCG setting. The current spot price for uranium is $85 (U.S.) per
    The Eldorado and Mystery Island projects consist of approximately
22,717.23 acres, 430 kilometres north of Yellowknife in the Northwest
Territories. The property adjoins and is partly surrounded by the Alberta Star
Development Corp's Contact Lake project. Solitaire and Alberta Star share some
of the underground working of the Eldorado mine. Alberta Star carried out a
major exploration program, including a large drill program in 2006. The
Olympic Dam or IOCG model is proposed as the main exploration target on
Solitaire's properties in this part of the Great Bear magmatic zone. The
Olympic Dam deposit at Roxby Downs in the Gawler craton of southwest Australia
consists of dike-like, hematite-rich diatreme breccias in granite and felsic
volcanics and has a reported resource of 2.32 billion tonnes of 1.6 per cent
copper, 0.5 gram per tonne gold, 3.5 grams per tonne silver and 0.4 kilogram
per ton uranium oxide (U(3)O(8)). Features of the mineralization and geology
in the Great Bear magmatic zone indicate similarities with the Olympic Dam
IOCG deposit. Four constants postulated by Skirrow (1999) exist in both areas:
tectonothermal evolution; host sequence composition; existence of two
contrasting hydrothermal fluid types that allow for co-existence of magnetite
and hematite; and a setting within a deep, crustal-scale fault system. These
and other similarities conclude that the Solitaire properties are situated in
a geological setting that has the potential to host high-unit-value
polymetallic mineralization associated with large-tonnage, IOCG-type deposits,
as well the potential to host Echo Bay-type, high-grade U(3)O(8) and silver
    Mike Magrum, PEng, a qualified person under National Instrument 43-101,
has approved the technical content of this news release.

    About Solitaire Minerals Corp.
    Solitaire Minerals Corp. (TSX-V symbol: SLT) is a diversified junior
Canadian mineral exploration company with a specific focus on mineral
properties in North America. The Company has assembled a portfolio of precious
and base metal exploration prospects in Ontario, Saskatchewan, Alberta, and
the North West Territories. Solitaire's Ontario properties in the Red
Lake/Birch-Uchi Greenstone Belt include the Baird, Heyson and Chukuni River
Prospects, in which the Company has agreements to earn 100% in, but has not
yet vested its interest. In addition, the Company has entered into an option
agreement with another company, whereby that company may earn up to a 75%
interest in the Baird Property. The Company also has an option to earn 100% in
the Lateral Lake West property located in the Webb township of Ontario. In
Saskatchewan, the Company has signed a purchase agreement to acquire a 100%
interest in the Highrock Lake property and a 90% interest in the Riou Lake
Property located in the Athabasca Basin. The Company has also acquired the
Riou Lake North and South properties in which the company has 100% interest.
In Alberta, the Company has purchased the Ravenscrag property in which the
Company has 100% interest. In the North West Territories, the Company has
purchased the Mystery Island IOCG Property located in the Great Bear Lake area
in which the Company has 100% interest.

    On Behalf of the Board of Directors
    "Charles Desjardins"

    Charles Desjardins,
    President and Director

    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Statements in
this press release other than purely historical information, historical
estimates should not be relied upon,including statements relating to the
Company's future plans and objectives or expected results, are forward-looking
statements. News release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. Forward-looking statements are based on numerous assumptions
and are subject to all of the risks and uncertainties inherent in the
Company's business, including risks inherent in resource exploration and
development. As a result, actual results may vary materially from those
described in the forward-looking statements.

For further information:

For further information: please contact Solitaire Minerals Corp. or

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890