Solstice Minerals has pinpointed promising mineral resource extension targets at its Nanadie Copper-Gold Project in Western Australia, setting the stage for a potential significant increase in copper and gold resources.
- Identification of strong mineral resource extension targets at Nanadie
- Existing Inferred Mineral Resource Estimate of 40.4Mt at 0.4% copper and 0.1g/t gold
- Deposit remains open at depth and along strike with potential for expansion
- Maiden Reverse Circulation drilling program planned for mid-2025
- Robust cash position supports ongoing exploration and development
Nanadie Project: A New Chapter in Resource Growth
Solstice Minerals Limited (ASX: SLS) has revealed compelling new targets for expanding the mineral resource at its Nanadie Copper-Gold Project, located in Western Australia's Murchison Mineral Field. Through a systematic re-logging of historical drill holes and updated structural interpretations, the company has identified several promising zones adjacent to the current Mineral Resource Estimate (MRE) that could materially increase the deposit’s size.
Nanadie currently holds an Inferred MRE of 40.4 million tonnes grading 0.4% copper and 0.1 grams per tonne gold, equating to approximately 162,000 tonnes of contained copper and 130,000 ounces of gold. The deposit extends roughly 150 meters wide and 900 meters long, with mineralisation open at depth and along strike, suggesting significant upside potential.
Geological Insights and Expansion Potential
The south-eastern portion of the deposit remains largely unconstrained by drilling, with indications of fold and fault repetitions that could extend the host mafic intrusive geology eastward. Drill holes in this area often end in mineralisation, hinting at the possibility to widen and deepen the system. Similarly, the northwestern edges show potential for lateral and downward extensions, supported by geophysical data including induced polarization (IP) and aeromagnetic surveys.
These findings are significant because they suggest the current MRE may only represent a portion of the total mineralised system. The deposit’s mineralisation style, disseminated and remobilised chalcopyrite with associated gold, has demonstrated zones exceeding 1% copper, underscoring the potential for both scale and grade improvements.
Upcoming Drilling and Strategic Outlook
To validate these extension targets, Solstice is preparing a maiden Reverse Circulation (RC) drilling program scheduled for mid-2025. Success in this initial phase could lead to systematic drilling campaigns aimed at substantially increasing the MRE, thereby enhancing the project’s value proposition.
Chief Executive Officer Nick Castleden emphasised the strategic importance of Nanadie, noting the favourable long-term outlook for copper and the rarity of quality growth assets secured by granted mining leases with minimal competing land use. He expressed confidence that the planned exploration will unlock significant value through considered and timely resource expansion.
Broader Exploration and Financial Position
Beyond Nanadie, Solstice maintains a strong cash position of $13.6 million as of March 2025, enabling ongoing exploration at its Yarri Project and other gold prospects such as Bluetooth, Statesman Well, and Edjudina Range. Recent drilling at these sites aims to delineate near-surface gold mineralisation, complementing the company’s copper-gold growth strategy.
With a robust pipeline of exploration activities and a clear focus on resource growth, Solstice Minerals is positioning itself to capitalize on the rising demand for strategic metals, particularly copper, which remains critical to global energy transition efforts.
Bottom Line?
As Solstice prepares to drill, the market watches closely for results that could redefine Nanadie’s resource potential and the company’s growth trajectory.
Questions in the middle?
- Will the upcoming RC drilling confirm the extent and grade of the newly identified targets?
- How soon could a revised Mineral Resource Estimate be released following drilling results?
- What are the implications of Nanadie’s expansion for Solstice’s overall project portfolio and valuation?