Solis Minerals (ASX:SLM) expanded its energy metals portfolio through the 100% acquisition of the Brazil Lithium Project, a massive 93,000-hectare exploration district.
Located within the globally renowned Araçuaí-Salinas Lithium Valley in Minas Gerais, the project places Solis in the heart of one of the world’s most rapidly emerging hard-rock lithium belts.
The acquisition was secured for a low-cost upfront payment of US$500,000, subject to a 1.75% net smelter return royalty.
The project area is highly prospective, sitting adjacent to lithium tenure held by PLS Group (ASX:PLS).
Recent technical data from Rio Tinto reveals significant geochemical anomalies, with soil samples exceeding 330 ppm Li₂O.
The results are notably higher than the initial samples that led to the nearby Colina discovery.
Furthermore, the presence of weathered pegmatites containing spodumene pseudomorphs suggests high potential for lithium mineralisation.
Solis has already identified priority targets at Mandacaru and Campo Grande, which exhibit well-defined structural signatures ready for immediate drill testing.
To further strengthen its position, Solis has entered into a collaboration agreement with its largest shareholder and adjacent operator, PLS, providing them with a first right of participation in future transactions.
Executive Director Mitch Thomas noted that this acquisition provides a "strategic foothold" alongside ground where the team has previously delivered major exploration success, diversifying the company’s pipeline alongside its existing copper strategy in Peru.
At the time of reporting, Solis Minerals' share price was $0.046.