Highlights

  • First diamond drillhole ‘tail’, NANRCD004, completed to a final depth of 629.1m, extending RC hole NANRC004.
  • Visible chalcopyrite logged across multiple zones, consistent with Phase 1 RC drilling, significantly extending the depth of the mineralised system.
  • Laboratory assay results for diamond and Phase 2 RC drilling expected in 3-6 weeks, providing further clarity on copper and gold grades.

Solstice Minerals Limited (ASX:SLS) experienced a notable uptick in trading on 27 April 2026, with the share price rising 17.786% to trade at AUD 1.490. The day’s volume reached 1,552,496 shares, reflecting heightened market interest following the announcement of a major milestone in the company’s diamond drilling program at the Nanadie Copper-Gold Project in Western Australia.

The increase follows a broader trend of investor focus on exploration success stories and mineralisation potential in high-demand copper-gold projects. The bid/offer range of AUD 1.490 to AUD 1.500 indicates strong liquidity and firm buyer support, with the company’s market capitalisation now at AUD 214.95 million.

Diamond Drillhole Completion

The company’s first diamond drillhole tail, NANRCD004, was successfully completed to a depth of 629.1m. This drillhole extends the earlier reverse circulation (RC) hole NANRC004, which had intersected 62m at 1.55% copper (Cu) and 0.66 g/t gold (Au), including a standout 22m intercept at 2.78% Cu and 1.25 g/t Au. The diamond tail represents the deepest hole drilled at Nanadie to date and is critical in extending the known depth of mineralisation by more than 300m below previous drilling.

CEO and Managing Director, Nick Castleden, highlighted that visible chalcopyrite, a copper sulphide mineral, was observed in multiple downhole zones, mainly as disseminations and veinlets. The logged sulphide styles are consistent with the nearby Phase 1 RC drillholes, supporting continuity of the system and providing geological context for future assays.

The diamond drilling program is planned to comprise around 10 tails, totaling approximately 2,000m of core. This approach is designed to follow up on high-grade intercepts and further extend the mineralised zones, adding depth and breadth to the company’s existing Mineral Resource Estimate (MRE).

Phase 2 RC Drilling Progress

In parallel, Solstice Minerals is executing a 10,000m Phase 2 RC drilling program at Nanadie. This program includes step-out exploration tests, MRE delineation holes, and pre-collar holes for diamond tails. To date, five holes have been completed at the northern extent of the deposit, with the sixth hole in progress. Early geological logging from this program is consistent with earlier RC drilling, reinforcing the potential continuity of high-grade copper-gold mineralisation.

The integration of RC and diamond drilling data is expected to provide a comprehensive understanding of the deposit geometry and grade distribution. Laboratory assays for both diamond and RC programs are anticipated within 3-6 weeks, which will provide further clarity on the economic potential of the Nanadie system.

Nanadie Copper-Gold Project Overview

The Nanadie project is located approximately 100km northwest of Sandstone, Western Australia, and is situated within a granted mining lease. The deposit currently holds an inferred MRE of 40.4 million tonnes at 0.4% copper and 0.1 g/t gold, equating to roughly 162,000 tonnes of copper and 130,000 ounces of gold.

Mineralisation at Nanadie consists of disseminated and remobilised sulphide veinlet-style chalcopyrite, often accompanied by pyrrhotite and pyrite, predominantly in fresh rock below 40m depth. Zones exceeding 1% Cu occur where chalcopyrite vein density increases, with higher sulphide veining often correlating with elevated gold values. No deleterious sulphide species have been identified, which is favorable for future metallurgical and processing considerations.

Market Implications and Investor Sentiment

The strong share price reaction to the completion of NANRCD004 reflects investor optimism surrounding the project’s development potential. Solstice Minerals’ strategic focus on deepening and extending mineralisation, combined with the ongoing Phase 2 RC drilling, underscores the company’s commitment to expanding the Nanadie resource.

Market participants are closely watching the upcoming assay results, which are expected to provide definitive grades for copper and gold. Positive outcomes could further reinforce the share price momentum and validate the geological continuity observed in both the diamond and RC drilling programs.

The integration of diamond and RC drilling data, alongside ongoing geological logging, positions Solstice Minerals to potentially update its MRE in the medium term, subject to assay results. Investors are likely monitoring this development closely given the existing inferred resource and high-grade intercepts achieved to date.

Conclusion

Solstice Minerals Limited (ASX:SLS) shares have experienced a significant price surge, up 17.8% following the completion of its first diamond drillhole at the Nanadie Copper-Gold Project. Visible chalcopyrite in multiple downhole zones provides early geological confirmation of the deposit’s continuity beyond previously drilled depths. As the Phase 2 RC drilling program progresses and laboratory assays are completed in the coming weeks, the market will have a clearer picture of the deposit’s grade and potential. The current share price movement reflects both the geological potential and strong investor interest in the ongoing exploration campaign.