Solid Resources Reports Additional NI 43-101 Resource Estimate for Southern Zone of Rare Metals Property
Solid Resources Ltd. (TSXV:SRW,OTCQX:SLDRF,FWB:YRS) reported the results of the recently completed independent National Instrument 43-101 compliant resource estimate for the southern section of its Alberta-1 100% wholly owned rare metals property in northwestern Spain.
As quoted in the press release:
The National Instrument 43-101 compliant technical report related to the resource estimation will be filed on SEDAR by the Company within 45 days of this announcement. This estimate is restricted to the Taboazas (southernmost area) deposit, which is part of the larger 3,690 hectare, 14 km long Doade-Presqueiras concession. This particular estimate does not include any of the additional northern zones, included in the recently completed 2011 drill campaign. The results of the NI 43-101 reserve estimate for Prequeiras, the northernmost area, were announced on October 24, 2011.
The deposit has been interpreted to comprise of a mineralised zone striking approximately northwest to southeast. The resource calculation utilized the wireframe construction method using previous interpretations from geology sections.
The resource estimates for the Taboazas area incorporate all drilling data used from the 7 diamond core drill holes (1,216 m) completed in 2003 and 2011. The approximate 400 m x 150 m area which has been drilled is still open to the north and south.
Solid Resources President and CEO, Greg Pendura commented:
“The combined drill areas for both Presqueiras and Taboazas sections represents less than 10% of the property’s potential mineralised zone””The distance between these two zones reported in the NI 43-101 is approximately 10 km. Past scout drilling in between these two sections has allowed us to believe that the deposit is approximately 250-300 m wide and runs almost the full length of the 14 km property. Management intends to substantially increase the resource estimates of the concession with an extensive 6,000 m drill program throughout 2012.”