Mina Vermelha ProspectIn October 2023, Solis entered into an...

Mina Vermelha Prospect
In October 2023, Solis entered into an option agreement to purchase the Mina Vermelha
Project in the Borborema Municipality of Rio Grande do Norte and along the same
mineralised regional trend as the Estrela Prospect5.
The Mina Vermelha tenement covers approximately 500 hectares (Figure 4) with a granted
mining lease of six hectares over one of six known outcropping pegmatites on the lease. The
tenement is located approximately 16km to the south of the regional centre of Parelhas.
5 See ASX release of 12 October 2023
www.solisminerals.com
Figure 3: Southern Borborema tenement plan.
During visits to the site conducted during the quarter, spodumene and pollucite were
collected in hand specimens with spodumene concentrations increasing at depth from
surface5 (Table 2 & 3).
Table 2: SGS Brazil ICP results for grab samples of Spodumene and Tantalite Mina Vermelha.
Method
Assay Certificate code Prefix
Sample
ID Nb ppm Ta ppm Li% Li2O Mineral
ICP GQ2305549 SMP 00019 -10 46 1.60 3.44 Spodumene
ICP GQ2305549 SMP 00021 >10000 >10000 0.01 0.01 Tantalite
ICP GQ2305549 SMP 00035 -10 -10 0.57 1.23 Spodumene
ICP GQ2305549 SMP 00037 -10 -10 1.43 3.07 Spodumene
Table 3: ALS laboratory results for MV001 grab sample of Pollucite from Mina Vermelha.
Sample ID Certificate code Northing Easting RL Li ppm RB ppm Cs%
MV001 PH23152362 9246144 759966 434 36.7 9000 28.3
Subsequent to the end of the quarter, eight drillholes have been reported as complete (with
one hole abandoned) for this programme4 (Appendix 1).
The Mina Vermelha drilling tested a 2km long strike of known pegmatites. Four drillholes
assays have been returned with no significant lithium assays. All the major outcropping
mineralised bodies have now been tested and no further exploration drilling is planned on
this prospect for the immediate future4