Both Projects are located in
Executive Director,
'The identification of three new lithium bearing outcropping pegmatites and rock chip samples returning up to 7.60% Li2O, is highly encouraging. The team is looking forward to completing the full geochemical soil program in the area, and then drilling the three outcropping pegmatite dykes.
'We are currently re-negotiating an extension for our due diligence period on the
'We are located in the right region at the right time as
Brazilian Lithium Projects
The
Within the Estrella prospect, Solis has already identified three large outcropping pegmatites with confirmed spodumene present. Float and rock chip samples have confirmed these pegmatite bodies are lithium bearing, with assay results up to 7.6% Li2O reported.
Solis is currently re-negotiating an extension to its due diligence period at the
In order to adequality test all available targets, the Company is negotiating an additional six months before committing to the binding option agreement currently in place.
At this time, Solis' management are considering the quantum of the payments pending under the option agreement and believe the extension period of due diligence is required to act in the best interest of its shareholders and to allow the Company to complete all the required and planned drilling to fully assess the potential of the Project.
Samples from three drill cores have been submitted to
This announcement has been authorised for release to ASX by the Board of
Contact:
Tel: +61 8 6117 4795
About
The Company owns a 100% interest in the
In addition, Solis also holds a 100% interest in 35,700ha of combined licences and applications of highly prospective IOCG (iron oxide copper/gold) and porphyry copper projects in southwestern
Forward-Looking Statements
This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Competent Person Statement
The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr
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