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Solis Hit Spodumene at Jaguar

17 July 2023 13:45

Solis Minerals (ASX: SLM) are beginning to uncover the potential of its Jaguar Lithium Project in Brazil, with the Project’s maiden drilling campaign hitting coarse spodumene-rich pegmatites with estimated visual spodumene volumes of up to 20 per cent.

Hearing the Jaguars Roar

The 2,500-metre drilling campaign is still ongoing and was designed to test the known 1.4km strike of Jaguar’s confirmed pegmatite outcrops, with shallow-dipping coarse spodumene-rich pegmatites being intersected in two of the first three diamond drill holes completed so far.

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Figure 1: Cross section through Jaguar pit area with recently completed drilling and interpreted geology.

Hole JADDH00002 intersected 52m of pegmatite with 8.2m of spodumene-rich quartz from 32m downhole while hole JADDH00003 intersected 39.3m of pegmatite with-7.9 m of spodumene-rich-quartz bearing central core area from 44.3m downhole, the pegmatites intersected so far have lined up with a classic idealised LCT bearing pegmatite model.

Pegmatite’s intersected sit below existing artisanal workings at Jaguar and confirm that mineralisation beneath these workings is continuous, with the Company now planning step-out drilling along the pegmatites interpreted strike to provide better insight into the overall strike, dip and distribution of the mineralisation within the pegmatites.

Additionally, the Company plans to complete a further three holes as part of this campaign and is now installing core-cutting facilities on site, expecting to begin processing drill cores from this campaign in the coming weeks. Scheduled for later this month is the submission of the first batch of samples, with the Company eagerly anticipating the receipt of assay results by the end of next month.

Expanding Horizons

Alongside the drilling, additional mapping and sampling programs have identified an additional 400m by 400m pegmatite body located ~1km northwest of the main Jaguar pit, which shows a similar dip and strike orientation to the mineralisation intersected in the current program, indicating a potential repetition and the possibility of a stacked system with multiple pegmatite bodies to be hosted within the tenement package.

To accelerate ongoing drilling and facilitate further planned drilling, Solis has now tendered an additional diamond drilling rig to be mobilised to the site and complete 5,000 metres of drilling, with its second program completed by a larger capacity track-mounted rig capable of higher production rates and higher availability.

The Company said it has been encouraged by these early results and will deliver results from this maiden drilling campaign as soon as possible.

“This is a positive result for the team from the maiden programme at Jaguar. Confirmation of an LCT – (Lithium-Caesium-Tantalum) bearing system that continues at depth below the artisanal workings is highly encouraging and we look forward to the arrival of a second drill rig,” Executive Director Matt Boyes said.

“As we extend our mapping and geochemical sampling programmes, we are finding evidence of a potential stacked pegmatite system. Multiple spodumene bearing float samples have been collected up to 1 kilometre from the central Jaguar artisanal mine area and large outcropping pegmatites, which are completely untested, have been located.”

SLM’s Australian Stock Exchange-listed share price is currently trading at 60.5c (1:27 pm UTC+ 8 hours).

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