Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM) has acquired 22 new lithium exploration licences in northeast Brazil, forming the Borborema Project, with a focus on exploring for lithium and battery metals.
The project covers 248 square kilometres, with similar regional structural controls to Latin Resources Ltd (ASX:LRS)’s Colina deposit – large granitic intrusives in close proximity to meta sedimentary-volcanic sequences of geology.
Solis Minerals Borborema Project area regional geology with licence areas.
Boborema is a greenfield project with little to no systemic exploration for lithium-caesium-tantalum (LCT) pegmatites despite the prospective geology of the tenure.
Brazil offers “exceptional opportunity”
“Brazil is fast becoming a Tier 1 destination for hard rock lithium explorers and producers alike,” Solis Minerals CEO Jason Cubitt said.
“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 programs over the coming months.”
Solis will deploy ground teams to begin field mapping, outlining the design of geochemical sampling programs and initial target generation.
The company is well funded with $2.1 million in cash, currently focused on continuing to identify, evaluate and explore battery metal-related opportunities in South America.