Solstice Minerals (ASX:SLS) strikes gold in Western Australia’s Eastern Goldfields

Solstice Minerals (ASX:SLS) strikes gold in Western Australia’s Eastern Goldfields

September 9, 2024 Off By MarketOpen

Solstice Minerals (ASX:SLS) is rapidly gaining momentum in Western Australia’s Eastern Goldfields, with its latest aircore drilling results at the Bunjarra Prospect revealing significant shallow gold intercepts.

This emerging story could be one of the most exciting gold discoveries in the region in recent times.

Solstice Minerals CEO and Managing Director, Nick Castleden, highlighted the importance of this breakthrough: “A shallow, wide aircore drill hit of 10m at 3.61g/t Au, including 5m at 6.48g/t, is an exciting development for the Company. This result strongly validates a nearby intercept of 2m at 1.85g/t Au from our initial aircore program and confirms this as a genuine bedrock target that warrants immediate RC drilling.”

High-Grade Gold Intercepts: A Catalyst for Further Exploration

The standout result of 10 metres at 3.61 grams per tonne (g/t) gold from just 41 metres, including a higher-grade interval of 5 metres at 6.48 g/t, signals a potentially rich gold system below the weathered leached profile.

These findings follow an earlier intercept of 2 metres at 1.85 g/t gold, demonstrating consistency in mineralisation across the target area.

These results not only validate Solstice’s exploration model but also set the stage for accelerated reverse circulation (RC) drilling to probe deeper bedrock gold sources.

The Bigger Picture: A 2km Gold Trend

The Bunjarra Prospect is part of the Yarri Gold Project, an expansive exploration initiative in one of Australia’s most promising gold belts.

Solstice has opened up a mineralised trend over 2 kilometres along strike, with gold intercepts returning from multiple drill sites along the saprolite/bedrock interface.

Importantly, this mineralisation remains open to the south and lightly tested to the north, suggesting considerable upside potential.

What sets Bunjarra apart is its strategic location within a proven gold district, just 70km northwest of Northern Star Resources’ Porphyry mining centre and 20km east of Saturn Metals’ Apollo Hill deposit, placing it in a highly mineralised region.

A Well-Funded Exploration Program

With a robust balance sheet of approximately $17.5 million, Solstice is well-positioned to fast-track exploration across its suite of gold targets.

The December quarter is shaping up to be a crucial period, with RC drilling planned at Bunjarra and other high-priority targets, including the Statesman Well and Bluetooth Prospects.

The company’s substantial landholding, covering 1,730 square kilometres, provides a unique leverage to exploration success in WA’s Eastern Goldfields.

Looking Ahead

Solstice Minerals is not just targeting high-grade intercepts but is systematically testing large-scale litho-structural gold targets across soil-covered terrane, an approach that could unlock significant value for investors if successful.

While it’s too early to predict the final outcome of these exploration efforts, the early signs are compelling.

As Solstice advances towards deeper drilling, investors and industry watchers alike will be keeping a close eye on this potential gold discovery in the heart of Western Australia.

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