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An update from Lycaon Resources Ltd. ( (AU:SLA) ) is now available.
Solara Minerals reported that Ultrafine soil sampling at its Wilgeena prospect has outlined strong and coherent gold anomalism within the Peak Hill Schist, the same stratigraphy that hosts nearby Hermes South and Peak Hill gold deposits. Gold anomalism above 39.3ppb combined with strong surface alteration has generated key drill targets at Wilgeena, and follow-up drilling is now being planned.
At the Degrussa West project, Solara completed five reverse circulation holes totaling 1,032m across three target areas, including a test of an EM conductor that intersected a broad zone of quartz veining adjacent to a carbonate-altered intrusive, with a deeper magnetic anomaly to be probed via a diamond tail. The company also outlined planning for its next phase of exploration across the portfolio and continued reviewing acquisition opportunities aligned with its strategic objectives, signalling an active growth and discovery program in the Bryah Basin.
More about Lycaon Resources Ltd.
Solara Minerals Limited is an Australian exploration company focused on gold and copper projects in Western Australia’s Bryah Basin. Its portfolio is located in a highly prospective district that hosts several established gold and copper-gold operations, including Westgold’s Fortnum and Peak Hill mines and Sandfire’s Degrussa and Monty copper-gold mines, positioning Solara within a proven mining corridor.
Average Trading Volume: 48,321
Technical Sentiment Signal: Sell
Learn more about SLA stock on TipRanks’ Stock Analysis page.