Solis Minerals’ Strategic New Direction Delivers Early Results at its Jaguar Lithium Project in Brazil

In the heart of Brazil’s Bahia state, Solis Minerals’ Jaguar Lithium Project is situated in a region known for its rich mineral potential, particularly in lithium.

Brazil has a long history of mining, with a diverse portfolio of minerals including iron ore, gold, and manganese. However, lithium has recently taken centre stage due to its increasing global demand. In 2022, Brazil produced approximately 400 tons of lithium, a figure expected to rise as new projects come online. Among the top lithium producers in Brazil are Sigma Lithium and Companhia Brasileira de Lítio.

Solis acquired the Jaguar hard rock lithium project last month. This acquisition was part of Solis Minerals’ broader strategy to expand its presence in the lithium sector and also included the acquisition of the Borborema Lithium Project in north-east Brazil.

Solis Minerals Executive Director Matthew Boyes expressed enthusiasm about the acquisition, stating, “Brazil is fast becoming a significant player in the hard rock lithium space. Solis’s primary objective is to quickly position itself by acquiring highly prospective underexplored projects in the north-east of Brazil.“

“The Jaguar pegmatite hosts confirm LCT-bearing pegmatites with some of the coarsest and most abundant Spodumene occurrences I have seen.”

The project’s history dates back to the early 2000s when initial exploration activities were conducted. However, it was not until Solis Minerals acquired the project that significant progress was made.

The maiden drill program at the Jaguar Lithium Project has intersected coarse spodumene pegmatites in all five holes drilled to date. The drilling program is ongoing with a second rig expected to arrive in the coming weeks. 

The initial five holes were drilled at the Jaguar South prospect where previous rock chip sampling returned grades up to 3.3% Li2O. The drill holes were designed to test the continuity of mineralisation at depth below the surface mineralisation identified in the rock chip sampling program.

The drill results revealed lithium grades of 1.56% Li2O over 31 metres, including 2.33% Li2O over 18 metres, indicating the high potential of the project.

In a recent press release, Solis Minerals’ CEO, Matt Boyes, expressed his optimism about the project. He stated, “The maiden drill program at Jaguar has exceeded our expectations with the intersection of coarse spodumene in multiple holes.” 

“These results confirm the presence of significant lithium mineralization at Jaguar and underscore the potential of this project to become a significant lithium producer.”

The Jaguar Lithium Project is part of a broader trend of increased investment in lithium mining, driven by the global transition towards renewable energy and electric vehicles. As the demand for lithium continues to grow, projects like Jaguar will play a crucial role in meeting this demand and contributing to the global green energy transition.

Solis Minerals is strategically positioning itself as a key player in the mining of critical metals, particularly lithium. The acquisition of the Jaguar Lithium Project, along with the Borborema Lithium Project, signifies a new direction for the company, aligning with the global shift towards renewable energy and electric vehicles, which heavily rely on lithium.