Solis Minerals intersects spodumene-bearing pegmatite in maiden drilling at Jaguar Project, Brazil

Battery minerals explorer Solis Minerals (ASX:SLM) has intersected a spodumene-bearing pegmatite during a 2,500m maiden drilling program at its recently acquired Jaguar Lithium Project in Brazil.

The $79.34 million market capitalisation company reports the maiden drilling campaign is designed to test the known strike of the confirmed pegmatite outcrops at Jaguar and begin step-out drilling to the north to test interpreted repetitions of the pegmatites at depth.

Of the 3 drillholes completed in the ongoing program, holes JADDH00002 and JADDH00003 intersected broad intervals of shallow dipping pegmatite below the artisanal workings at the project. 

Spodumene-rich central core sections of the pegmatite were intersected from 30m to 38.2m in JADDH00002 and from 44.3m to 52.2m in JADDH00003. Solis says drillhole JADDH00001 did not intercept the core of the pegmatite due to incorrect drill orientation.

Solis reports initial production rates averaged just 7m per shift, as crews encountered start-up technical challenges that have now been addressed. Drilling is now expected to achieve normal production targets.

The company says continuous mineralisation has been confirmed below the existing artisanal workings, and Solis is sourcing a second rig. A tender has been called for an additional 5,000m diamond core drilling program with a larger-capacity track-mounted rig capable of higher production rates and higher availability.

Solis also reports that step-out drillholes along the interpreted strike of the pegmatite are planned to help understand the overall strike, dip, and distribution of the mineralisation within the pegmatites.

Further, Solis reports it is installing core-cutting facilities on-site and intends to begin processing the existing core within the next week. The company also aims to complete a further 3 holes from the current program and submit the first batch of samples to SGS Laboratories in Minas Gerais in late July. Results are expected to be returned in late August.

Commenting on the drilling program, Solis Minerals Executive Director Matt Boyes says: “This is a positive result for the team from the maiden program at Jaguar.

Confirmation of an LCT (lithium-caesium-tantalum)-bearing system that continues at depth below the artisanal workings is highly encouraging, and we look forward to the arrival of a second drill rig.

As we extend our mapping and geochemical sampling programs, we are finding evidence of a potential stacked pegmatite system”

As we extend our mapping and geochemical sampling programs, we are finding evidence of a potential stacked pegmatite system. Multiple spodumene-bearing float samples have been collected up to 1km from the central Jaguar artisanal mine area, and large outcropping pegmatites, which are completely untested, have been located.

We are encouraged by our early results at the Jaguar Project, and we look forward to updating the market as we deliver results from this maiden drill program.”

Solis Minerals is a Latin American battery minerals explorer focused on its wholly owned Borborema and Jaguar lithium projects in Brazil. The company also holds 32.4 hectares of combined licences and applications for ‘highly prospective’ iron-oxide copper-gold (IOCG) and porphyry copper projects in Peru.

Last week (11 July), the company reported it had resumed trading on the OTCQB Market to enhance its accessibility to US investors and increase liquidity and visibility in the US and Canada.

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Images: Solis Minerals
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.