Solara Secures $180K Grant, Eyes Drilling Near Degrussa Mine
Solara Minerals has bolstered its exploration portfolio with the acquisition of the OD4TP gold and copper projects near the prolific Degrussa Mine, complemented by new geophysical surveys and a $180,000 government grant to support upcoming drilling.
- Acquisition of OD4TP portfolio adjacent to Sandfire’s Degrussa Mine
- Completion of ground electromagnetic (MLEM) surveys revealing new conductive targets
- Awarded $180,000 Exploration Incentive Scheme grant for drilling
- Appointment of Jennifer Neild as General Manager with extensive exploration experience
- Exploration activities include soil sampling and geophysical data processing across multiple projects
Strategic Acquisition in a Proven Mining District
Solara Minerals Limited has taken a significant step forward in its exploration ambitions with the acquisition of the OD4 Tom Price Pty Ltd (OD4TP) portfolio, encompassing 310 square kilometres of gold and copper projects in Western Australia's Bryah Basin. This region is renowned for hosting major operations such as Sandfire Resources’ Degrussa Copper Gold Mine and Westgold Resources’ Fortnum and Peak Hill gold projects, underscoring the strategic value of Solara’s new holdings.
The OD4TP portfolio includes the Degrussa West Project, located just 17 kilometres from Sandfire’s high-grade Degrussa Mine and 10 kilometres from Catalyst Metals’ Old Highway Gold Deposit. Historic data and recent surveys highlight compelling targets, with strong magnetic anomalies and untested conductors coinciding with prospective geology.
New Geophysical Insights and Upcoming Drilling
During the quarter, Solara completed a moving loop electromagnetic (MLEM) survey over the Degrussa West area, identifying large-scale, north-dipping conductive plates interpreted as mineralised structures. These findings build on earlier VTEM data and soil sampling results, which revealed anomalous gold values along the same trends.
Encouraged by these geophysical results, Solara plans to commence drilling at the Degrussa West target by the end of the current quarter. The company’s exploration efforts are further supported by a $180,000 grant from the Exploration Incentive Scheme, awarded to co-fund drilling and geophysical work on the highly prospective VTEM/MLEM targets.
Broader Exploration and Management Strengthening
Beyond Degrussa West, Solara is advancing soil sampling programs at the Wilgeena Project, located near several significant gold deposits, and processing geophysical data at the Mikhaburra and Karalundi projects. These initiatives aim to refine target identification in underexplored areas with promising geological settings.
Complementing its exploration progress, Solara appointed Jennifer Neild as General Manager in July 2025. With over two decades of experience in mineral exploration and a strong background in geophysics and structural geology, Neild brings valuable expertise to guide the company’s strategic growth and technical programs.
Financial Position and Outlook
Financially, Solara reported exploration and evaluation expenditure of $207,000 for the quarter, maintaining a healthy cash balance of $3.3 million at quarter-end. The company’s disciplined approach to capital management and targeted exploration spending positions it well to advance its portfolio and unlock value for shareholders.
As Solara moves towards drilling its newly identified targets, market participants will be watching closely for assay results that could validate the promising geophysical anomalies and historic data. The company’s focus on high-potential projects in a proven mining district, combined with government funding support and strengthened management, sets the stage for an active and potentially transformative period ahead.
Bottom Line?
Solara’s acquisition and exploration momentum in the Bryah Basin could soon translate into significant value, but upcoming drill results will be the true test of its potential.
Questions in the middle?
- Will drilling at Degrussa West confirm the presence of high-grade mineralisation?
- How will Solara prioritise its multiple projects amid limited exploration budgets?
- What impact will Jennifer Neild’s leadership have on accelerating project development?
