Solstice Minerals (ASX:SLS) Gains 575% in a Year: Nanadie Drilling Sets the Next Milestones

Sonal Goyal

08 November 2026 11:42 PM AEDT

Solstice Minerals (ASX:SLS) Gains 575% in a Year: Nanadie Drilling Sets the Next Milestones

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Highlights

Solstice closed at AUD 1.89 on 6 November 2026, down 9.57% for the session and up 575% over the year.
Nanadie drilling returned 41 metres at 2.79% copper and 0.70 grams per tonne gold from 19 metres downhole.
Cash was AUD 41 million at 30 September 2026, with no Debt and further drilling results pending.

Solstice Minerals Limited (ASX:SLS) explores for copper and gold in Western Australia, with the Nanadie project central to its current drilling program. Its 2 November 2026 update described shallow copper-gold mineralisation and continuing work to expand the deposit’s geological interpretation. Shares closed at AUD 1.89 on 6 November 2026, down 9.57%, while showing a 575% annual share-price gain.

Shallow drilling adds detail to the northern zone

Solstice Minerals (ASX:SLS) reported a 41-metre interval grading 2.79% copper and 0.70 grams per tonne gold from 19 metres downhole in reverse-circulation hole NANRC067. Within that interval, 10 metres from 44 metres returned 9.40% copper, 2.13 grams per tonne gold and 23.4 grams per tonne silver.

The results indicate mineralisation across the oxide and transitional profile. The company identified possible chalcocite enrichment near the boundary with fresh rock and planned further mineralogical investigation. Mineral identification and processing behaviour require testwork; the drilling result alone does not establish a processing route.

The reported lengths are downhole intervals rather than established true widths. Solstice Minerals (ASX:SLS) planned denser drilling in the area to better define the transitional profile and the extent of the higher-grade mineralisation.

Diamond results and pending assays broaden the work program

Diamond hole NANRCD060 returned 89.1 metres at 0.93% copper and 0.19 grams per tonne gold from 198.9 metres, including 10.9 metres at 2.67% copper and 0.52 grams per tonne gold. Another reported interval in NANRCD022 comprised 18.9 metres at 1.10% copper and 0.17 grams per tonne gold from 225 metres.

Solstice Minerals (ASX:SLS) said drilling continued within and beyond the existing mineral resource boundary. Its planned program includes infill work, deeper diamond extensions and shallower reverse-circulation holes to examine the deposit footprint. Exploration testing was also planned at Stark and other targets along strike.

At the date of the update, assays were pending from a further 14 completed diamond holes and more than 50 reverse-circulation holes. Those outstanding results are important to evaluating continuity and grade distribution. An expanded resource remains an objective of the work rather than a completed outcome.

Metallurgy and funding frame the next assessment

The company planned mineralogical and metallurgical testwork on the transitional copper material to determine an appropriate processing pathway. Its suggestion that the material might be amenable to conventional sulphide flotation was conditional on further testing.

Solstice Minerals (ASX:SLS) reported AUD 41 million in cash at 30 September 2026 and no debt. This provides financial context for the multi-rig exploration program and associated technical work. Future expenditure depends on the scope and pace of drilling, sampling and project studies.

Key uncertainties include the geometry of mineralisation, the representativeness of individual high-grade intervals and recovery characteristics. Further assays and geological interpretation will determine how the latest intersections relate to the wider deposit. Development Economics cannot be inferred from isolated drill grades or the annual share-price gain.

Key Insights

Solstice Minerals (ASX:SLS) combines substantial annual share appreciation with an active Nanadie drilling program and a debt-free quarter-end balance sheet. The next milestones are additional assays, tighter definition of shallow mineralisation and processing test results. Those technical outcomes will provide a firmer basis for assessing the project than annual price appreciation alone.

FAQs

Q: How much did Solstice gain over the year?

A:575% to 6 November 2026.

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