News Release 2007 Jan 15 High Grade Copper On Mystery Island | High Grade Copper On Mystery IslandMonday, January 15, 2007 January 15, 2007: Solitaire Minerals Corp. (TSX-V symbol: SLT) (the Company) has received confirmation copper assays from the surface exploration program on its Mystery Island IOCG property. Eighteen grab samples were originally submitted for 31-element ICP analysis to Acme Analytical Laboratories Ltd. in Vancouver, B.C. Five samples returned values greater than 10,000 parts per million (1 per cent) copper which is the upper detection limit for this type of analysis. One sample graded 0.13 per cent uranium. Seven anomalous samples were resubmitted for copper assay. These results, with corresponding cobalt (ICP analysis) are listed below:
Sample # ======== | % Copper ======== | % Cobalt ======== |
| MI-06-01 | 1.202 | 0.051 |
| MI-06-02 | 1.826 | 0.109 |
| MI-06-03 | 2.665 | 0.158 |
| MI-06-04 | 0.916 | 0.179 |
| MI-06-05 | 1.577 | 0.163 |
| MI-06-06 | 1.467 | 0.050 |
| MI-06-07 | 0.774 | 0.125 |
The Mystery Island project consists of approximately 21,830 acres in the Great Bear Lake area and is located approximately 430 kilometres north of Yellowknife, NWT. The property adjoins the Contact Lake (Eldorado) project of Alberta Star Development (TSX-V:ASX), which is being explored for iron-oxide, copper, gold, silver and uranium targets. Alberta Star has completed a major exploration program, including a diamond drilling program using three drills. The mineralization and geology of the Great Bear magmatic zone indicate similarities with the Olympic Dam IOCG deposit. The Olympic Dam, or the IOCG model, is proposed as the main exploration model for the Mystery Island property in this specific 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 tonne U3O8. The Mystery Island property is situated in a similar 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, lower-tonnage U3O8-Ag mineralization.
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.
For additional information please contact Solitaire Minerals Corp. or visit www.solitaireminerals.com.
On Behalf of the Board of Directors
SOLITAIRE MINERALS CORP.
"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. |