1788 – 650 West Georgia Street
Vancouver, B.C. / V6B 4N8
Tel: (604) 683-5445
Fax: (604) 687-9631
www.solitaireminerals.com
info@solitaireminerals.com
Solitaire Minerals Acquires Satterly Lake Property
March 21, 2003 – Solitaire Minerals Corp. (TSX.V – SLT) is pleased to announce the acquisition
of 5 claim units totaling 3123 acres in Satterly Lake Township in the prolific Red Lake Mining
District.
Historically, St. Joe Canada, Cominco Ltd, and Noranda Exploration Co have performed
fieldwork including ground and airborne magnetic and electromagnetic geophysical surveys,
geological mapping, rock and humus geochemical surveys, stripping, sampling and drilling.
The principal work on this property was conducted on the Greencamp prospect, which consists of
Contact and Carbonate zones described below:
Contact Zone:
The contact zone consists of 2 separate showings located along the northwest and southwest
flanks of the Greencamp stock. The gold mineralization is located at the margins of a late
‘rhyolite’ quartz porphyry which has intruded the granodioritic Greencamp stock. The
granodiorite has been intensely silicified, variably tourmalinitized and mineralized with pyrite (up
to 3%) and gold around the margins of the quartz ‘rhyolite’ porphyry. Silicification and
albitization occurs at the margins of the quartz porphyry. Whole rock geochemistry has shown
that the porphyry contains between 8% and 10% Na2O. (D. Fitzpatrick, Noranda Exploraton Co,
personal communication, 1991)
Quartz and quartz-carbonate veins are common in the granodiorite. Minor arsenopyrite, sphalerite
and chalcopyrite occur with pyrite as disseminations and fracture coatings. Visible gold occurs as
small grains on chloritic fractures, small grains in pyrite and coarse leaves ad fine grains in a
carbonate-epidote veinlet (Beakhouse 1989) Cominco Ltd reported that the gold mineralization
was controlled by the fracturing, shearing local veining and pyritization at the Contact zone.
Carbonate zone:
The carbonate zone is situated immediately north of the Greencamp stock and the contact zone.
Cominco Ltd reported that the Carbonate zone consists of several trenches sunk on quartz veins
in several, west-northwest-trending, interlayered, carbonate-chert units within wackes and
siltstones. The carbonate rich units are up to 1.5 metres wide and are exposed discontinuously
over a strike length of 600 metres. The metasediments and quartz veins contain between 5% and
15% disseminated pyrite. The carbonate units have been described as a zone of pyritic, quartz,
carbonate and quartz-carbonate veins in wacke. (Beakhouse 1989).
Intense small-scale folding, pervasive carbonate altercation and discontinuous pods of carbonate
associated with minor chert layers and quartz veining generally trending 290 degrees characterize
the Carbonate zone. Bedding in the metasediments at the Carbonate zone trends northwest while
intense foliation and shearing trends west-northwest (Beakhouse 1989).
Diamond Drill holes have produced the following intercept results:
Amount
1.24 gpt
6.84 gpt
2.60 gpt
1.90 gpt
4.70 gpt
1.24 gpt
Across
117 metres
3.10 metres
19.8 metres
40.5 metres
3.35 metres
44.0 metres
including
including
38.9 gpt
3.11 gpt
0.30 metres
3.0 metres
Grab samples have produced results up to 123.8 gpt. Channel samples have produced results up
to 3.73 gpt over 7.3 metres
Solitaire has the right to acquire a 100% interest in the property by paying $94,000 to the property
vendor and issuing 100,000 common shares in graduated installments over four years. The
Company will also incur $40,000 CEE on or before October 31, 2003. In addition, the vendor will
retain a 2% NSR, 1% of which can be purchased by the company for $600,000.
About Solitaire Minerals Corp.
Solitaire Minerals Corp. is a Canadian mineral exploration company with a specific focus on
prospective gold properties in North America. The Company has assembled a portfolio of
precious metal exploration prospects in Ontario and British Columbia. Solitaire's Ontario
properties in the prolific Red Lake/Birch-Uchi Greenstone Belt include the Headway, in which
Solitaire can earn up to a 25% interest, and the Pickle Crow and Garnet Lake prospects, in which
Solitaire can earn up to a 50% interest through option agreements with King's Bay Gold Corp.
The Company also has the South Baird, Golden Pickle, and Chukuni River Prospects, which are
held 100% by Solitaire. Each of these properties exhibits excellent potential for hosting highgrade gold deposits and is located within the world class Red Lake, Ontario area.
For additional information you can contact Solitaire Minerals Corp. at 604-683-5445 or visit the
Web site at http://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.