Show notes
Solstice Minerals has a major copper discovery in Western Australia andappears set to develop a super pit of copper 100 kilometres south of Meekatharra. Guest BioNick Castleden is Managing Director and CEO of Solstice Minerals Limited (ASX: SLS). Heis a geologist with more than 25 years' experience in mineral exploration and development,holding a BSc (Hons) in Geology from the University of Western Australia. He has workedwith Mt Isa Mines, Perilya Mines, MPI Mines and LionOre across exploration, projectgeneration and management roles in Africa, North and South America and Australia, withparticular expertise in Western Australian gold, nickel and base metal exploration. Prior tojoining Solstice, he was Managing Director of Apollo Consolidated Ltd until its acquisition byRamelius Resources in late 2021. He commenced as CEO and Managing Director ofSolstice Minerals in January 2023. Produced by Resource MediaThe Hole Truth: Mining Investment Podcast is a product of Read Corporate.Please note that Read Corporate does not provide investment advice and investors shouldseek personalised advice before making any investment decisions. LinksThe Hole Truth LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcastThe Hole Truth YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCCThe Hole Truth Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/The Hole Truth Instagram: https://www.instagram.com/theholetruthpodcast/Company Website: https://solsticeminerals.com.au/ Key InsightsThe Nanadie discovery is open in every direction.Solstice's Nanadie Copper-Gold Project, roughly 100km south-east of Meekatharra in WA'sMurchison district, is currently traced along 1.2km of strike with a mineralised host gabbro100-200 metres wide. Recent deep diamond drilling shows the system remains wide open atdepth, while RC drilling is extending it further north and south, giving Solstice multipleavenues for near-term resource growth. Deep drilling is confirming scale, not just a surface story.A 629-metre hole returned multiple long runs of over 1% copper, and a follow-up hole drilledto roughly 800 metres hit similar high-grade material in the same host rock before runningout of drill rods. Castleden points to these paired deep intercepts as evidence of a genuinelylarge volume of mineralised rock, with potential for a second, underground stage of thedeposit beneath the open pit. The resource is expected to grow materially from its starting point.Solstice acquired an existing Inferred Mineral Resource of roughly 40 million tonnes,compiled from several previous owners' drilling with no clearly defined margins. Castledensays the company's own drilling has already shown the deposit extends well beyond thatfootprint in every direction, and expects the next resource update to be materially larger thanthe one it started with. A strong balance sheet is funding an aggressive, dilution-free drill campaign.With around $45 million in cash and no debt, Solstice can keep multiple rigs turning withoutneeding to raise capital in the near term. The stock now has three broker analysts coveringit, and six analysts are visiting the site the following week, reflecting growing institutionalinterest in a rare tier-one scale copper discovery in Western Australia. Solstice remains firmly in exploration mode, with a separate gold asset as a bonus.The board and management, all geologists with meaningful equity in the company, arefocused squarely on drilling out Nanadie rather than mine planning at this stage, with earlymetallurgical, water and flora-fauna studies just getting underway. Solstice also holds aseparate gold package near Cue that it has flagged publicly it may look to monetise or spinout into a new company.

