Solstice Minerals (ASX:SLS) has begun a maiden reverse circulation (RC) drilling program at Statesman Well to target a previously identified 1km zone of oxide gold mineralisation.
Historical RC gold intercepts at Statesman Well include 22m at 1.14 grams per tonne gold, 10m at 2.04g/t gold, 10m at 1.63g/t gold and 13m at 1.28g/t gold.
Following this program, CEO Nick Castleden says the company is expecting to move on to the Bluetooth Prospect to build on shallow, wide gold hits.
Solstice, which has a market capitalisation of $18.1 million, reported that initial drilling at the Bluetooth Prospect returned 29m at 1.58g/t gold from 20m, 12m at 2.86g/t gold from 47m, 12m at 1.57g/t gold from 67m, over an 800m strike length.
Aircore drill results for Edjudina Range are expected shortly.
“Our robust cash position of $13.6 million at 31 March 2025 provides Solstice with excellent flexibility to progress its key gold prospects toward mineral resources combined with an extensive belt-scale footprint in WA’s Eastern Goldfields. The company continues to offer strong leverage to gold exploration success,” Castleden says.
As reported by Mining.com.au yesterday, the gold price is surpassing historic highs at the $5,100 mark.
Solstice Minerals is an Australian gold and base metals explorer company focusing on developing and expanding its footprint in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Solstice Minerals
