Solstice Acquires Nanadie Project with 162,000t Contained Copper and 130koz Gold

Strategic Acquisition Strengthens Solstice’s Copper Exposure

Solstice Minerals Limited (ASX: SLS) has announced the acquisition of the Nanadie Copper-Gold Project from Cyprium Metals, marking a significant step in its strategic growth within the copper sector. The project, located in the Murchison region of Western Australia, encompasses 130 square kilometres of granted Mining Lease and Exploration Licence tenure, positioning Solstice in a highly prospective and mining-friendly jurisdiction.

The Nanadie Project boasts a JORC-compliant Inferred Mineral Resource Estimate (MRE) of 40.4 million tonnes grading 0.4% copper and 0.1 grams per tonne gold, equating to approximately 162,000 tonnes of contained copper and 130,000 ounces of gold. This resource underpins a low-cost, high-leverage copper opportunity with substantial exploration potential along strike, at depth, and at the deposit margins.

Robust Geological and Drilling Foundations

The deposit is hosted within a mafic intrusive complex, with mineralisation extending from surface to depths exceeding 255 metres. Primary copper mineralisation, predominantly disseminated chalcopyrite, accounts for 90% of the resource and is amenable to conventional flotation processing, with no significant deleterious elements reported. Historical drilling has returned impressive intercepts, including 107.8 metres at 0.91% copper and 0.24 g/t gold, highlighting zones of higher-grade mineralisation that Solstice aims to expand through targeted exploration.

Solstice’s CEO, Nick Castleden, emphasised the strategic fit of Nanadie within the company’s portfolio, noting the project’s location in a stable jurisdiction with limited competing land use and excellent exploration upside. He highlighted the favourable long-term supply-demand outlook for copper and the rarity of securing quality assets in such jurisdictions.

Consideration and Future Plans

The acquisition consideration comprises an upfront payment of AUD 1 million in cash and 3 million fully paid ordinary shares, subject to holding locks. An additional 3 million shares are payable contingent upon Solstice announcing a mineral resource exceeding 250,000 tonnes of contained copper within four years. Completion is subject to customary conditions, including regulatory approvals and unencumbered title delivery.

Looking ahead, Solstice plans to undertake sighter metallurgical test work on diamond drill core to confirm processing pathways, alongside an exploration-focused program aimed at expanding the resource and discovering new mineralised zones. The company also benefits from a robust cash position of AUD 15.1 million as of December 2024, providing flexibility to advance Nanadie and pursue further growth opportunities.

Context within Western Australia’s Mining Landscape

The Nanadie Project lies within the Barrambie greenstone belt, a region with demonstrated prospectivity for magmatic copper-nickel-PGE and gold mineralisation. The project’s proximity to existing infrastructure and mining operations enhances its development potential. Solstice’s acquisition builds on its extensive landholdings in Western Australia’s Eastern Goldfields, reinforcing its exposure to both gold and copper exploration success.

While the current resource is classified as Inferred due to certain data limitations, including bulk density and spatial uncertainties, Solstice is confident that further drilling and evaluation will enable resource upgrades and support future mine planning. The company’s methodical approach to exploration and resource development aligns with the growing global demand for copper, driven by electrification and decarbonisation trends.