Solitario Resources Secures Drilling Permits for Cat Creek Critical Metals Project in Colorado

Solitario Resources Corp. has secured drilling permits for its Cat Creek critical metals project in Colorado. The project represents a high-quality undrilled molybdenum-rhenium porphyry system. Molybdenum is a strategic metal with unique alloying properties for steelmaking, while rhenium is classified as a Critical Metal by the US government, used extensively in defense and aerospace industries. Drilling is planned for mid-summer 2026.

Solitario Resources Corp. (NYSE American: XPL) has secured federal and Colorado state drilling permits for its Cat Creek critical metals project, targeting an undrilled molybdenum-rhenium porphyry system. Drilling is scheduled to commence mid-summer 2026. The project, located in Colorado, represents a high-quality undrilled molybdenum-rhenium porphyry system with significant potential.

The Cat Creek project was originally discovered by Anaconda Copper in the early 1980s and underwent extensive surface exploration, including geologic mapping, geochemical sampling, and an Induced Polarization (IP) geophysical survey. However, drilling was never conducted, and the project was never drill tested. Solitario acquired a 100% interest in the property in 2023 and has completed confirmatory surface exploration, paving the way for core drilling.

Molybdenum, a strategic metal, is highly valued for its unique alloying properties, making it indispensable in various industries such as oil and gas, aerospace, defense, nuclear energy, and construction. Currently, molybdenum sells for approximately $25 per pound. Rhenium, classified as a Critical Metal by the U.S. government, is used extensively in defense and aerospace industries due to its high melting temperature, hardness, and resistance to wear and corrosion. Rhenium is currently priced at approximately $4,200 per kilogram.

The Cat Creek project is situated less than 150 miles south of two of the largest primary molybdenum mines in the world, Freeport-McMoran's Climax and Henderson mines, and 80 miles north of the historically important Questa molybdenum mine. The project is well endowed with rhenium, with surface sampling indicating rhenium averaging ~30 gpt Re versus the typical average of ~0.5 gpt Re for most molybdenum mines.

Solitario's President and CEO, Chris Herald, stated, "Although the Golden Crest gold project has been, and remains, our primary focus, we have been quietly advancing the Cat Creek project for the past two years and are excited to drill test this large-scale drill target next year. With the current interest in domestic Critical and Strategic Metals in the U.S., Cat Creek is an important new addition to our property portfolio."

The drilling permits and confirmatory surface exploration represent significant progress for Solitario's Cat Creek project. The project's potential to produce both molybdenum and rhenium positions it as a valuable addition to Solitario's portfolio of high-quality Tier-1 gold, zinc, and molybdenum projects.