Solitario Resources Corp Dossier
Qualitative Analysis
Business overview
Solitario Resources Corp. (formerly Solitario Zinc Corp.) is a natural resource exploration and development company focused on high-quality, Tier-1 gold, zinc, copper, and critical metals (molybdenum and rhenium) projects in safe jurisdictions across North and South America. The company's core mineral property assets include its 100%-owned Golden Crest gold project in South Dakota, which covers 31,500 acres along the western extensions of the historic Homestake-Wharf mining district. Additionally, Solitario holds a 50% joint venture interest in the high-grade Lik zinc project in Alaska (partnered with Teck Resources) and a 39% joint venture interest in the high-grade Florida Canyon zinc project in Peru (partnered with Nexa Resources, which fully carries Solitario to production). The company also owns 100% of the Cat Creek critical metals project and the Bright Angel copper-gold project, both located in Colorado.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Executing a major drilling campaign at the 100%-owned Golden Crest gold project in South Dakota, specifically targeting the Ponderosa gold zone where the company secured a permit for 45 drilling platforms.
Expected impact: Aims to delineate a significant gold resource in an unexplored western extension of the Homestake-Wharf mining district.
Preparing and executing the first-ever core drilling program at the Cat Creek molybdenum-rhenium project in south-central Colorado.
Expected impact: Aims to test an undrilled porphyry system within the world-class Climax-Henderson-Questa molybdenum belt.
Advancing the drilling permit process for the recently acquired Bright Angel copper-gold project in north-central Colorado, including the filing of a Plan of Operations with the U.S. Forest Service.
Expected impact: Securing permits will allow Solitario to conduct a maiden core drilling program to verify historical shallow gold-copper mineralization.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquired a 100% interest in the Bright Angel project from a private party to further diversify Solitario's portfolio into high-quality gold and copper assets during a period of favorable commodity prices.
Financial impact: Acquired with minimal upfront cash; future exploration costs will be funded through Solitario's existing treasury.
Strategic Partnerships
Newmont is Solitario's largest shareholder with a 9.3% equity interest, providing both financial backing (totaling $3.5 million in recent years) and technical support, including joint geological mapping and processing of geophysical data at Golden Crest.
Terms: Newmont has provided $3.5 million in equity investments over the past couple of years, including an additional equity investment reinforced in 2025.
Nexa holds a 61% interest and operates the high-grade Florida Canyon zinc project in Peru. Under the joint venture agreement, Solitario (39% interest) is fully carried through feasibility and financed through construction to production by a loan from Nexa.
Terms: Solitario is fully carried; the construction loan will be repaid using 50% of Solitario's net cash flow from the project, avoiding equity dilution.
Teck American Inc. operates the Lik zinc project in Alaska under a 50/50 joint venture. The project represents a large, high-grade zinc system near Teck's Red Dog mine.
Terms: Jointly funded evaluations and reclamation activities; Teck manages evaluations and is in discussions regarding future exploration programs.