Solitario Resources Corp. Announces First Core‑Drilling Program at Bright Angel, Colorado

Solitario Resources Corp. (NYSE American:XPL; TSX:SLR) disclosed on March 10, 2026 that it has filed a Plan of Operations with the U.S. Forest Service (USFS) for a core‑drilling program at its Bright Angel gold‑copper project in Colorado. The proposal represents the first drilling on the property since 1970, when Anaconda Copper conducted 11 core holes.

Project Background

Bright Angel is located in the western United States and hosts mineralized porphyry stockwork that contains significant grades of gold and copper at the surface. Historical data indicate mineralization extending approximately 750 meters in length and up to 600 meters in width. Anaconda Copper’s 1970 exploration program, focused on a classic large‑scale calc‑alkaline porphyry system, intersected 0.1 %–0.3 % copper in six of its 11 core holes but did not assay for gold. The company later concluded that the deposit was not calc‑alkaline and withdrew its lease after a decade of exploration.

Solitario’s recent surface sampling has produced gold/copper grades consistent with the upper 20 meters of the historic drill holes. The company anticipates that the new drilling will confirm whether Bright Angel hosts a high‑grade, pipe‑like alkalic porphyry system, which may offer superior gold and copper grades compared with typical calc‑alkaline systems found in Arizona and Chile.

Drilling Program Details

  • Scope: Core drilling to depths of up to 783 meters, aligned with previous historical holes.
  • Environmental Safeguards: The plan emphasizes limited surface impacts and adherence to state and federal abandonment standards to protect groundwater.
  • Future Work: A drone magnetic survey and a potential Induced Polarization geophysical survey are slated for the upcoming field season.

Management Commentary

Chris Herald, President and CEO, stated, “With both gold and copper trading near all‑time highs, and copper being designated as a critical metal by the U.S. government, we are very excited to move this project forward. Results from previous drilling point to a definitive, and potentially significant, gold‑copper porphyry target.” He added that Bright Angel “represents an alkalic pipe‑like porphyry characterized by high grades for both gold and copper with deep roots.”

Market Context

As of March 10, 2026, Solitario’s share price closed at $0.94, with a 52‑week high of $0.98 and a low of $0.54 (November 20, 2025). The company’s market capitalization stands at $86.3 million, and its price‑earnings ratio is –16.267, reflecting ongoing exploration activities and a focus on future development rather than current profitability.

The drilling initiative at Bright Angel marks a significant step in Solitario Resources’ strategy to acquire, explore, and develop zinc, gold, and copper properties across North and South America. The results of the maiden drilling program will be closely watched by investors and analysts evaluating the company’s potential to unlock valuable mineral resources.