Solis Minerals Ltd. has provided shareholders with an update on acquiring 22 exploration licence application areas in northeast(“Borborema Project”). The licences acquired are located within the states of “Rio Grande Do Norte” and “Paraiba” close to major regional centres such as Natal and Recife, both well-serviced and boasting good infrastructure and services.
CEO Jason Cubitt commented: “Brazil is fast becoming a Tier 1 destination for hard rock lithium explorers and producers alike. The value to be generated is significant in the short term through building an extensive portfolio of prospective lithium ground in the country to complement our copper exploration assets in Peru. Brazil is still very much in its infancy with lithium exploration and offers a junior explorer such as Solis an exceptional opportunity to discover a material asset. Having our largest shareholder, Latin Resources, in the country will expedite the commencement of exploration and building of the team needed to advance these projects. I am excited to see our team commence first-pass reconnaissance and mapping programmes over the coming months.”
The Company has now secured the acquisition of 22 licence areas in the northeast of Brazil, with settlement expected to occur within 30 days. The tenements cover a total area of 24,800 hectares in predominantly greenfield terrain. The tenements have yet to be exposed to systematic modern exploration techniques targeting LCT-bearing pegmatite systems. Historically the Borborema pegmatitic province has been reported to host several mineralised pegmatite occurrences and artisanal works producing Be, Nb-Ta, Li, Sn, gems, quartz, feldspar and others. Historical mining in the region, and the presence of the Niobium-Tantalum, Lithium and feldspars, indicate the area is endowed with LCT-bearing pegmatite systems.
The most prospective potential host units for the mineralised pegmatites are similar to the suite hosting the Colina-Salinas pegmatites held by Latin Resources Limited in the state of Minas Gerais. They consist predominantly of metavolcanic and metasedimentary rocks (schist, gneiss and quartzites) from the Serido Formation, located close to the large granitoids from the G3 suite (pink/red in Figure 1) with batholiths, stocks and dykes represented. The G3 suite is the main intrusive system in the province and potentially the source of any emplaced pegmatite bodies. The licence areas acquired have been systematically selected to be close to, or straddle, the contact zone between these granitic intrusives and surrounding metavolcanic sequences and the zone referred to as the “Goldilocks Zone” in exploration for LCT-bearing systems.
The Company has completed the initial compilation of available historical geological data and will now follow up with a comprehensive field programme specifically aimed at generating near-term drill targets. The Company has recently expanded the team by adding a Senior Project Geologist in Brazil who is currently undergoing onsite training at Latin Resources’ Salinas Lithium Project in Minas Gerais. Once completed in mid-February and subject to the final access agreement, the team will be mobilised to commence systematic regional mapping and soil and rock chip geochemical sampling to generate drill targets and identify the most prospective terrain within the licence areas.