Solid Resources- Rare Metals & Iron Ore Exploration Company in Spain
Solid Resources Ltd. (TSX-V:SRW ; OTCQX: SLDRF ; FSE:YRS) is an exploration company focused on building shareholder value a strategy of acquiring attractive, past-producing projects, with excellent infrastructure and proximity to deep sea ports in Spain.
Tin and Tantalum
The Company through its wholly owned Spanish subsidiary - Solid Mines España S.A.U. (“SME”) has commenced its final work/drill program in early September, 2012 on its 3.690 hectare concession – Alberta-1 in northwestern Spain. The near term production property is host to rare metals such as tantalum, niobium, lithium, cesium and rubidium. It also has significant values of tin and was a former tin producer. The 2012 work/drill program is designed to upgrade a large portion of the existing inferred and indicated NI 43-101 resource estimates into the measured category to the satisfaction of the Spanish Mining Authority in preparation for the granting of a mining permit for the Alberta-1 concession in early 2013.
Critical metals such as Tantalum, Tin, Niobium and Lithium play a critical role in the global economy with applications ranging from alloy elements and the strengthening of steel (Niobium) to rechargeable batteries (Lithium), to the rapidly increasing market for electrical components, especially for capacitors (Tantalum). The electronics community consumes over half of the world’s tin, the primary metal contained in solder, which is a basic ingredient to build printed circuit boards and electronic assemblies. The supply chain of two such critical metals – Tin and Tantalum, has been diminished due to the recent initiatives to combat the trade of “conflict minerals” from Africa.
To view the NI 43-101 compliant resource estimate from the 2011 drill program click here.
Maintaining our focus on near term producing properties, with excellent infrastructure in place, Solid Resources has entered into a binding option agreement to purchase 100% of the sixty-two (62) iron ore concessions and metallic mining licenses, covering an area of 1,030 hectares. These iron ore concessions are located in the south eastern area of the mineral rich Iberian Peninsula of Spain. This is a region with a long history of iron ore production that was once the dominant supplier to all of Europe.
The 62 separate concessions, which were mined for iron ore during the 20th century, offer excellent infrastructure, including hydro, water and a railway, approximately 12 km away, connecting at the rail station in the municipality of Calasparra, to the deep sea port of Cartagena, 100 km away. The Company is in possession of detailed historical mining and exploration data, compiled by the previous operational owner, Altos Hornos de Vizcaya. This valuable data will save our Company millions of dollars in exploration costs and advance our timeline to production. Production can commence on the existing permitted concessions upon the Company updating the viability and environmental studies to the satisfaction of the local mining and environmental authorities.