Solitaire Signs Letter of Intent to Acquire Interest In Peruvian Properties
The Pinaya Deposit is located on a 16,000 hectare property located 110km Northeast of Arequipa. There is excellent infrastructure in place with highway, railway, and a port close by. The geological model is similar to the Las Bambas deposit and Tintaya mine located to the North of the project. There is extensive geological, geochemical and geophysical data recorded over the Pinaya property.
The Pinaya Deposit contains an initial NI 43-101 (filed on www.Sedar.com by Acero-Martin Exploration Inc. Oct 31, 2006 - Technical Report) compliant resource estimate as reported in October of 2006 based on the first 70 holes drilled at the project. Estimates for the Western Porphyry zone show indicated mineral resources of 10.96 million tonnes grading 0.716 % copper and 0.65 gpt gold, and inferred mineral resources of 3.75 million tonnes grading 0.828 % copper and 0.55 gpt gold at a cut-off grade of 0.20 % copper. The Gold Oxide Skarn zone has indicated mineral resources estimated at 7.03 million tonnes grading 0.433 % copper and 0.29 gpt gold, and inferred mineral resources of 3.83 million tonnes grading 0.386 % copper and 0.23 gpt gold at the same cut-off grade of 0.20 % copper. Drilling at the project has not exceeded 800 metres in depth so the Company is focused on an open pit model. Significant drilling has occurred since the original NI 43-101 resource estimate completed in 2006. With an additional 90 holes drilled and to be added to a future resource estimate, there has now been a total of more than 45,000 metres of drilling on the Pinaya gold/copper deposit.
The company’s address is P.O. Box 10325, 430 - 609 Granville Street, Vancouver, BC V7Y 1G5, 604.683.5445, fax: 604.687.9631, email: [email protected].