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Solis Minerals Ltd (ASX:SLM)

ALERT: Price-sensitive ASX Announcement for SLM
Current share price for SLM : $0.092 0.008 (9.52%)+
Announcement
Release
5 May 2026 8:58AM
Price at Release
$0.084
Full Release
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Summary
Solis Minerals Ltd has initiated exploration activities at the Mandacaru and Campo Grande lithium prospects in Brazil's Araçuaí–Salinas Lithium Valley. The projects, inherited from Rio Tinto, show strong lithium mineralization. An exploration team, including a former RT geologist, has been mobilized to commence target refinement, land access agreements, and drilling logistics. The company plans an initial drilling program in June 2026, subject to logistical preparations. The exploration strategy incorporates comprehensive geochemical sampling and mapping to identify and prioritize drill targets while planning regional exploration to identify additional prospective areas.
Key Points
  • Solis Minerals has mobilized its exploration team to the Mandacaru and Campo Grande lithium prospects in Minas Gerais, Brazil.
  • The exploration sites are located in the Araçuaí–Salinas Lithium Valley, known for its rich lithium deposits.
  • Geochemical and geological data from Rio Tinto confirm strong lithium anomalies at the sites.
  • Initial drillings are scheduled to begin in June 2026, pending land access agreements and rig availability.
  • The exploration strategy includes soil and rock-chip sampling along with mapping to refine drill targets.
  • Regional exploration is planned to expand target generation within the broader Brazil Lithium Project area.
  • The exploration team includes a former senior RT geologist with experience at the sites.
  • Solis Minerals aims to build a pipeline of additional targets to complement ongoing drilling efforts.
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.