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- Drilling intersected wide zones of mineralisation
- Mineralisation confirmed over a strike length of approximately 1.2km
- Results will drive further step-out exploration drilling northwards
- Drilling is progressing at pace, with 11 diamond ‘tails’ now completed
Solstice Minerals (ASX:SLS) has expanded the advanced Nanadie copper-gold project in WA with strong first assay results from phase two RC drilling.
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Drilling has successfully extended copper-gold mineralisation approximately 160m north of the current mineral resource estimate (MRE).
“These results represent another significant step in demonstrating the growth potential of Nanadie,” CEO and MD, Nick Castleden, said.
“Our first step-out RC drilling beyond the northern edge of the current mineral resource has successfully intersected wide zones of significant copper-gold mineralisation, definitively extending the mineralised envelope and confirming that the system remains open.
“Importantly, the mineralisation occurs in the same geological setting as the existing resource and is coincident with a large IP anomaly that remains only partially tested. This gives us considerable confidence to continue stepping out along strike by taking the drill rig further northward.
“At the same time, we are making strong progress with our phase two drilling campaign, with 11 diamond ‘tails’ already completed in key locations along the length of the mineralised system, which are designed to scope geology and mineralisation beyond the operational depth of RC drilling at the deposit (~300m down-hole).”
Utilising core logging and processing in a multi-stage process, Solstice is collecting high-quality information and learning much about the host rock geology and mineralisation in the lead-up to first laboratory assays from hole NANRCD004 to accurately quantify the exciting visual observations in that hole and in follow-up hole NANRCD0052.
“We are pleased to see that the geology observed in recent drilling continues to be broadly consistent with that seen in Solstice’s phase one drilling, with RC and diamond drilling continuing to test depth, strike and lateral extensions across the now 1.2km long mineralised footprint, which continues to grow,” Mr Castleden said.
“With assays pending from multiple RC and diamond holes, we believe that Nanadie is emerging as a much larger copper-gold system than previously recognised, with emerging higher-grade zones that could become important contributors to potentially lift the grade profile of any future mineral resource estimate.”
Step-out drilling commenced on two traverses 80m apart at the northern end of the deposit, beyond the northern limit of the 2022 MRE boundary, confirming that the host gabbro package and associated zones of disseminated and foliation-parallel chalcopyrite extend through this area.
SLS closed Friday up +2.47% to $1.45. Mkt Cap $243.6M.
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