Solitario Advances Four Core Holes at Ponderosa, Preps Cat Creek Drilling
XPL•Solitario has completed four core holes at the Ponderosa gold project since late May, with assay results from the first two holes expected in early August. Preparations for initial drilling at the Cat Creek critical metals project, targeting molybdenum and rhenium in Colorado’s Climax-Henderson-Questa belt, are nearly complete.
1. Ponderosa Drilling Progress
Drilling at the 100%-owned Ponderosa area began in late May, with four core holes completed to date. Core samples from the first two holes have been sent for assay and results are expected in early August, offering preliminary insights into gold mineralization on the Golden Crest property.
2. Cat Creek Drilling Preparations
Preparations for the inaugural drill program at the Cat Creek critical metals project in south-central Colorado are nearly finalized. Cat Creek sits within the Climax-Henderson-Questa molybdenum porphyry belt, targeting molybdenum and rhenium, valued at approximately $40 per pound and $4.20 per gram respectively.
3. Portfolio and Financial Position
Solitario holds three active 100%-owned U.S. exploration projects, including a pending drilling permit for the Bright Angel copper-gold project in Colorado. The company maintains approximately $9.2 million in cash with no debt and joint-venture stakes in high-grade zinc projects in Alaska and Peru.
