Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) believes its maiden drilling programs at the Estrela and Mina Vermelha projects will uncover a large lithium system.
To date, 2,500 metres of drilling have been completed at the two lithium pegmatite projects in Brazil’s Borborema Province.
Promising signs
At Estrela project, the company has completed 12 of the planned 23 drill holes, targeting a total depth of 3,600 metres.
These initial holes have intersected sub-vertical pegmatites at various depths, with fine-grained spodumene visually identified in the core.
Four of these drill holes have been processed and sent for chemical analysis at SGS laboratories in Belo Horizonte. The company is on schedule to complete the remaining drill holes and process all cores by late December.
At Mina Vermelha project, two drill holes have been completed from an eight-hole program, targeting a total of 1,420 metres. The most impressive intersection was in drill hole MVDDH0002, which yielded a 168.8-metre stretch of pegmatite, with a true width estimated between 48-75 metres.
This finding is particularly welcome, suggesting the presence of a large tonnage system at the Mina Vermelha project. The drill rig is now set to explore the third site, moving towards the northern-most known pegmatite outcrop.
Geochemical sampling program
Alongside drilling, GMT exploration services have initiated a major regional geochemical soil program in the northern Borborema Province, with about 25% completed.
The samples are being prepared for ICP analysis, aiming to identify new drilling targets across Solis Minerals' extensive tenement in the region. This program is expected to conclude in early 2024.
“Drilling crews have steadily performed on schedule over the past four weeks at Estrela and are now also operating at the Mina Vermelha Prospect,” executive director Matthew Boyes said.
“The crews are on course to complete both programs within the scheduled timeframe and have all core processed and submitted with the laboratories before the Christmas break.
“Initial signs are encouraging with visible spodumene-bearing pegmatites intersected in several target areas including significant widths of pegmatite reported especially in the initial holes at Mina Vermelha.
“We are looking forward to receiving our first assay results which will assist in the team gaining a full understanding of the distribution of the mineralisation within the system and also direct the next round of drilling at both projects.”
Solis Minerals' updates demonstrate significant advancements in lithium exploration in Brazil, with the potential to impact the lithium market positively. The company awaits the assay results, which will guide further exploration and drilling initiatives at both Estrela and Mina Vermelha projects.