Completion of Strategic Copper Acquisition
| Stock | Solstice Minerals Ltd (SLS.ASX) |
|---|---|
| Release Time | 6 Mar 2025, 2:39 p.m. |
| Price Sensitive | Yes |
Solstice Minerals Completes Strategic Copper Acquisition
- Nanadie Copper-Gold Project has a JORC-compliant Inferred Mineral Resource of 40.4Mt @ 0.4% copper and 0.1g/t gold
- Significant past drill intercepts indicate strong exploration and resource growth potential
- Primary chalcopyrite-hosted copper mineralization with potential for clean copper-gold concentrate
Solstice Minerals Limited (ASX: SLS) has completed the previously announced purchase of a 100% interest in the advanced Nanadie Copper-Gold Project, located within 130km2 of granted Mining Lease and Exploration Licence tenure in the Murchison region of Western Australia. The project has an existing JORC-compliant Inferred Mineral Resource Estimate of 40.4Mt @ 0.4% copper and 0.1g/t gold, containing 162kt of copper and 130koz of gold. The deposit offers strong exploration and resource growth potential, with a shallow mineralized system up to 150m wide and 900m long that remains under-drilled at its margins, at depth, and along strike. Solstice is encouraged by significant past drill intercepts, including 107.8m @ 0.91% Cu and 0.24g/t Au, 76m @ 0.85% Cu and 0.39g/t Au, and 122.3m @ 0.61% Cu and 0.15g/t Au. Primary chalcopyrite-hosted copper mineralization makes up 90% of the total resource and has the potential to deliver a clean copper-gold concentrate. Solstice is pleased to have secured a strategic endowment of copper, a commodity with a favorable long-term supply-demand outlook, in a Tier-1 mining jurisdiction. The company has commenced a comprehensive review of the geology and past exploration, with the aim of bringing forward high-impact drill targets to test in the coming months.
Solstice is encouraged by the scale, geometry and resource growth potential at Nanadie, and the potential to define vectors toward increased grade. Exploration for grade targets will increase confidence in the overall resource, while exploration around the periphery of the system is highly likely to generate additional volume.