Solstice (ASX:SLS) Star continues to shine with fresh Goldfields gold find at Yarri
July 15, 2024Solstice Minerals has found a new gold zone at its wholly owned Yarri gold project in the Eastern Goldfields of Western Australia, spurring a swift reconnaissance aircore follow up campaign at the project’s Box Soak prospect.
Gold anomalism was returned on drill lines over 800 metres of strike, sitting below shallow transported cover overlying a regionally extensive mineralised structural trend.
The first anomalous composite sampling results of up to 5 metres at 0.42 grams per tonne gold and 10m at 0.2g/t were returned from the rocks typical of gold mineralisation in the region.
Adjacent territory hosts multiple million-plus-ounce gold endowments, with the Box Soak licence notably sitting about 35 kilometres north of the Northern Star Resources (ASX:NST) porphyry mining centre.
Solstice sold a chunk of the Yarri project to Northern Star in April for $12.5 million, believing that similar undercover hidden finds could be made throughout the tenure.
AC drilling resulted in a discovery on the Hobbes tenure late in the exploration process, with Solstice saying its sale demonstrated that even modest-scale mineralisation in the region could deliver commercial outcomes.
Another round of AC will begin soon, directed at infill and evaluation of gold anomalism at Box Soak and Bunjarra prospects while testing for prospective first-pass targets at Edjudina Range and Cosmo.
Solstice Minerals Managing Director and Chief Executive Nick Castleden said with drilling in the very first stages, the company looked forward to reporting on more drilling and resampling of the broad anomalous intervals reported to date.
“Aircore work at Box Soak has confirmed that a regional mineralised structure extends through our tenure and hosts anomalous gold mineralisation in distinctly altered rocks over at least 800 metres,” he said.
“We are excited to see what this new target can deliver — ideally aircore drilling will upgrade the prospect to a point where it is RC drill-ready alongside our other advanced gold prospects.”
Emerging mineralised targets alongside the advanced gold prospects at Statesman Well and Bluetooth are now slated for reverse circulation drilling in the fourth quarter of 2024.
And with around $17.5 million in the bank, the Perth-based explorer has noted its flexibility to expand an asset base beyond its current portfolio.
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