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Solara Minerals Limited (ASX:SLA)

ALERT: Price-sensitive ASX Announcement for SLA
Current share price for SLA : $0.125 0.005 (4.17%)+
Announcement
Release
29 Apr 2026 6:09PM
Price at Release
$0.120
Full Release
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Summary
Solara Minerals Limited provided an update on its activities for the quarter ending 31 March 2026, highlighting exploration efforts in the Bryah Basin, particularly at the Wilgeena and Degrussa West projects. The company reported coherent gold anomalies at Wilgeena detected through Ultrafine™ soil sampling, with follow-up drilling planned. At Degrussa West, reverse circulation drilling was conducted, revealing promising targets. The company's financials reported a net cash decrease driven by exploration and evaluation expenses, with cash and equivalents at the end of the period totaling AUD 2.299 million, expected to cover approximately 3.8 quarters of operations.
Key Points
  • Ultrafine soil sampling at Wilgeena shows strong gold anomalism.
  • Planning follow-up drilling at identified targets at Wilgeena.
  • Degrussa West project involved RC drilling across three target areas.
  • Company reported a net cash outflow of AUD 156,000 from operating activities.
  • Cash and cash equivalents at quarter end were AUD 2.299 million.
  • Estimated funding available for 3.8 quarters.
  • No substantive mining production activities during the quarter.
  • Ongoing assessment of acquisition opportunities aligning with strategic objectives.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.