Solis Minerals secures acquisition of 22 lithium exploration licences for Borborema Project, Brazil

Solis Minerals picks up 22 lithium exploration licences in Brazil

Battery metals exploration company Solis Minerals (ASX:SLM) has secured the acquisition of 22 lithium exploration licences which make up the Borborema Project in northern Brazil.

The company reports it has entered into a share assignment agreement where it will pay US$20,000 and issue 500,000 fully paid ordinary shares to Leandro Gobbo in consideration for 100% of the issued capital of Brazilian incorporated company Onça Mieração. Onça’s only assets are the 22 licences comprising the Borborema Project.

Solis says the tenements cover a total area of 24,800 hectares in primarily greenfield terrain, and have not been exposed to systematic modern exploration techniques targeting lithium-caesium-tantalum (LCT)-bearing pegmatite systems.

Brazil is fast becoming a Tier 1 destination for hard rock lithium explorers and producers alike”

Historically, the Borborema pegmatitic province has been reported to host several mineralised pegmatite occurrences and artisanal works producing beryllium (Be), niobium-tantalum (Nb-Ta), lithium (Li), tin (Sn), gems, quarts, felspar, and others. The company reports historical mining in the region, and the presence of Nb-Ta, Li, and feldspars indicate the area is endowed with LCT-bearing pegmatite systems.

Commenting on the new tenements, Solis Minerals Chief Executive Officer (CEO) Jason Cubitt said: “Brazil is fast becoming a Tier 1 destination for hard rock lithium explorers and producers alike. The value to be generated is significant in the short-term through building an extensive portfolio of prospective lithium ground in the country to complement our copper exploration assets in Peru.

Brazil is still very much in its infancy with lithium exploration and offers a junior explorer such as Solis an exceptional opportunity to discover a material asset. Having our largest shareholder, Latin Resources (ASX:LRS), in the country will expedite the commencement of exploration and building of the team needed to advance these projects.

I am excited to see our team commence first-pass reconnaissance and mapping programs over the coming months.”

Solis says the most prospective potential host units for the mineralised pegmatites are similar to the suite hosting the Colina-Salinas pegmatites held by Latin Resources in the state of Minas Gerais. These pegmatites consist predominantly of metavolcanic and metasedimentary rocks from the Serido Formation, located close to the large granitoids from the G3 suite with batholiths, stocks, and dykes represented.

The company says the G3 suite is the main intrusive system in the province and is potentially the source of any emplaced pegmatite bodies. The licence areas acquired between these granitic intrusives and surrounding metavolcanic sequences and the zone referred to as the Goldilocks Zone in exploration for LCT-bearing systems.

Solis reports it has completed the initial compilation of available historical geological data and will now follow-up with a comprehensive field program aimed at generating near-term drill targets. The company has also recently expanded the team by adding a Senior Project Geologist in Brazil who is currently underground onsite training at Latin Resources’ Salinas Lithium Project.

Once completed in mid-February and subject to the final access agreement, Solis reports the team will be mobilised to begin systematic regional mapping, as well as soil, and rock chip sampling to generate drill targets, and to identify the most prospective terrain within the licence areas.

Solis Minerals is a Latin American battery metals focused mining exploration company focused on its 2 large-scale copper exploration projects in Peru. These projects include the 3,300 hectare Ilo Este and Ilo Norte Copper Project, and the 3,200 hectare Cinto Copper Project.

Other projects in the company’s portfolio include the PanAmericana, CCG, and MoqueTac projects.

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.