Solstice Minerals Limited (ASX: SLS, Solstice, the Company) is pleased to advise that recent first-pass aircore drilling of new gold targets at the Box Soak Prospect, part of the 100%-owned Yarri Gold Project in WA's Eastern Goldfields, has returned broad zones of gold anomalism in initial composite sampling.

The anomalism sits at relatively shallow depths on multiple consecutive drill traverses over 800m of strike, and reports to silicified and sulphide altered rocks typical of known gold mineralised zones in the area. The Licence lies approximately 35km north of Northern Star Resources' (ASX: NST) Porphyry mining centre, 40km southwest of AngloGold Ashanti's (ASX: AGG) Sunrise Dam gold deposit and sits in a promising regional structural setting along strike from gold mineralisatio

Drilling focussed on the eastern portion of E39/2214, particularly targeting the strike extensions of a mineralised structural corridor in adjoining tenure. The target is covered by a blanket of shallow transported material shedding from a nearby chert and banded iron formation (BIF) ridge, which has limited the effectiveness of previous exploration. The prospectivity is supported by a recent RC and diamond drill out on adjoining tenure immediately along strike to the north. Composite sampling of this initial phase of drilling has returned wide zones of shallow gold anomalism toward end of hole (EOH), including 5m @ 0.42g/t Au from 34m in BOXAC021, 10m @ 0.20g/t Au from 21m in BOXAC002, 5m @ 0.23g/t Au from 44m in BOXAC024, and 5m @ 0.23g/t Au from 36m in BOXAC029.

Gold anomalism is associated with an oxidised fine-grained silicified volcaniclastic rock showing iron staining after pyrite alteration and minor quartz veining. The anomalism is also coincident with a deepened oxidation profile, suggesting structural and/or alteration activity in this position.

Solstice Minerals' Chief Executive Officer and Managing Director, Mr Nick Castleden said: '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. Drilling is currently at the very first stages, so we look forward to reporting on pending infill aircore drilling as well as 1 metre resampling of the broad anomalous intervals intercepted to date. 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'. During June 2024 the Company drilled 70 aircore holes on E39/2214 and E39/1914 at variable spacing (50- 200m) over six drill lines, for approximately 4,900m. Targets included the structural corridor described above and reconnaissance lines over soil-covered terrain in the licences.

The Company is highly encouraged by these first-pass results, which validate the belief that the Box Soak Prospect has the ingredients to deliver significant gold mineralisation. The setting is known to be mineralised, with the Moody's Reward gold deposit located approximately 12km to the north on the same structure. Mineral Resources at Moody's were most recently quantified2 by Saracen Gold Mines and reported at 110,000ozs contained gold @ 1.6g/t Au.

Infill drill traverses are currently being prepared ahead of further aircore drilling at Box Soak to firm up the width and continuity of the gold anomalism within the 800m long zone. Potential beyond this point is highlighted by Solstice rock chip sampling approximately 4km along strike to the south which identified gold mineralisation in BIF-quartz vein breccia grading up to 2.68g/t gold3 . In addition, recent heritage approvals at the advanced Bluetooth Prospect have paved the way for RC drill planning to follow-up past intercepts4 that include 12m @ 1.31g/t Au, 8m @ 1.66g/t Au and 2m @ 5.07g/t Au. Like most of the Company's Yarri landholding, the Box Soak Prospect area is close to existing infrastructure, with a haul road only 10km to the east. In this setting even modest scale mineralisation can deliver commercial outcomes - as evidenced by the recent sale of the Company's Hobbes tenement for $12.5 million to Norther Star Limited (ASX: NST).

Forward Planning

Solstice's aircore drilling campaign at Yarri is set to continue throughout Q3 2024, with the aim of bringing forward new gold targets to be ranked alongside advanced gold targets such as Statesman Well and Bluetooth. Following the Box Soak infill aircore drilling the rig will carry out follow-up work at the Bunjarra Prospect5 , before it moves to test prospective first pass targets at the Edjudina Range and Cosmo Prospects. The Company proposes a RC drill program during Q4 2024 to bring forward its advanced gold prospects such as Statesman Well and Bluetooth, and to test the structure and alteration zone below the oxidation profile at its emerging aircore drilling targets such as Box Soak and Bunjarra. The Company will also continue to work up further quality greenfield gold targets on its 1,500 square kilometres of wholly owned Yarri Project tenure, with a focus on testing targets that offer potential for 'stand-alone' scale. The Company continues to offer excellent leverage to gold exploration success, holding cash deposits of approximately $17.5 million which is equivalent to 17.5c per share. The cash position provides Solstice with excellent flexibility to expand its asset base beyond its current Projects, and the Company continues to review a number of compelling opportunities

Contact:

Tel: +61 (8) 9200 1838

(C) 2024 Electronic News Publishing, source ENP Newswire