Solitario Resources Corp. received initial assays from the first three core holes of its phase-one drilling program at the Ponderosa area within the Golden Crest gold project in South Dakota. Drilling began in mid-May and concluded in late-July, totaling 2,949 meters across ten core holes.

Assays from holes PD-001, PD-002, and PD-007 intersected low-level gold ranging from 0.02 to 0.40 grams per tonne over multiple intervals within Paleozoic limestones, without encountering high-grade feeder zones. Hole PD-007 intersected 1.3 meters grading 1.37 grams per tonne gold in older Precambrian rocks. Results for the remaining seven holes are expected in late September or October 2026.

Solitario’s 100%-owned Golden Crest properties are strategic land holdings along the western and southwestern extensions of the Homestake-Wharf mining district, which has produced approximately 52 million ounces of gold.

Solitario also completed drone magnetic surveys across three test areas to refine drill targeting. The surveys identified a large magnetic high on the property's western margin interpreted as higher-temperature metamorphic rocks of the underlying Homestake banded iron formation. Further surveys over the Downpour-Wild Rose and Holland mineralized zones outlined several magnetic highs between 200 and 1,000 meters in diameter, potentially related to Tertiary-aged intrusives.

“Although we did not intersect a high-grade feeder structure in the first three holes, we remain confident that the Golden Crest project hosts significant mineralization at depth. Our expanding geologic database continues to refine our drill targeting for future success.”

— Chris Herald, President and CEO

Upon completing the Golden Crest drilling, Solitario mobilized its drill rig to the 100%-owned Cat Creek molybdenum-rhenium project in south-central Colorado in early August. Cat Creek sits within the Climax-Henderson-Questa molybdenum porphyry belt. The first hole at Cat Creek is completed and being prepared for assay, while a second hole is underway. Assay results for the initial hole are expected within at least two months following September 2, 2026.

Elsewhere in the surrounding district, Dakota Gold Corp. completed its 2026 drill campaign totaling 17,273 meters across 112 holes at the Richmond Hill gold project in July 2026, reporting expansion drill hole RH26C-432 intersections of 11.36 g/t gold and 14.92 g/t silver over 26.3 meters.

Read the full announcement: Solitario Completes Phase-One Drilling at Golden Crest - Reports Initial Drill Results for Ponderosa