Chart Analysis
SLS Daily Timeframe Chart as of 27 April 2026
Solstice Minerals (ASX: SLS) Hits Visible Chalcopyrite at 629m in Deepest-Ever Nanadie Drill Hole — Copper-Gold System Extends Below Existing 40.4Mt Resource
The deepest hole ever drilled at the Nanadie Copper-Gold Project has intersected multiple zones of visible chalcopyrite mineralisation at 629.1 metres — extending the known system well below the existing 40.4Mt Inferred resource envelope. Hole NANRCD004, the first diamond drill tail at Nanadie, was designed to test depth extensions beneath high-grade RC results from Phase 1 (which included 62m at 1.55% Cu and 0.66 g/t Au to end-of-hole). Assay results are expected within approximately six weeks. The diamond campaign is one of two concurrent programs: ~10 tails for ~2,000m of diamond core alongside a 10,000-metre Phase 2 RC program — the most intensive drilling effort in Nanadie's history, funded by a $32.6 million institutional placement completed at $1.00/share in early April. The stock moved +21.7% to $1.540 on 27 April 2026, closing within two ticks of the $1.542 intraday high — a new 52-week high and the continuation of an approximately 780% rally from the $0.175 52-week low.
What Was Drilled and What Was Observed
| Detail | Value |
|---|---|
| Hole | NANRCD004 — first diamond tail at Nanadie |
| Final Depth | 629.1 metres (deepest hole in project history) |
| Visual Observation | Multiple zones of visible chalcopyrite at depth |
| Diamond Campaign | ~10 tails for ~2,000m of core |
| Concurrent RC Program | 10,000m Phase 2 — step-out, resource definition, higher-grade delineation |
| Existing MRE (Inferred) | 40.4Mt @ 0.4% Cu, 0.1 g/t Au (162kt Cu, 130koz Au) |
| Phase 1 Best Result | 62m @ 1.55% Cu, 0.66 g/t Au to EOH (Feb 2026) |
| Assays | Expected ~6 weeks from announcement |
Visible chalcopyrite is an encouraging geological indicator but does not guarantee economic grades — assays are required to confirm copper and gold content. The existing 40.4Mt Inferred resource is based on a 2012 JORC estimate and will need updating to incorporate both Phase 1 and Phase 2 drilling before any resource growth can be formally quantified.
The Nanadie Re-Rating — From $0.175 to $1.54 in 12 Months
The Nanadie acquisition (February 2025) triggered a re-rating from $0.175 (the stock's prior valuation as a Yarri-focused gold explorer) through a sequence of catalysts: Phase 1 RC drilling commencement (Q4 2025) → first assays at 62m @ 1.55% Cu (February 2026) → northern extensions confirmed (March 2026) → $32.6M institutional placement at $1.00 (April 2026) → diamond drilling at depth (this announcement). Each catalyst added a distinct re-rating layer. The $32.6 million placement at $1.00 is the most significant institutional reference — below that level, all placement participants are at a loss.
Risks & Considerations
Visible mineralisation does not guarantee economic grades, and the existing resource estimate predates the current drilling by over a decade. The stock has appreciated ~780% from its 52-week low — a magnitude that introduces retracement risk if assay results disappoint or if the resource update fails to deliver the tonnage and grade uplift the market has been pricing in.
Nanadie remains at an exploration and resource definition stage with no scoping or feasibility study completed. Metallurgical testwork is underway but results are pending. As a single-asset company (with supplementary gold exploration at Yarri), SLS carries concentrated project risk. The April placement issued 32.6 million new shares at $1.00, and further capital raises may be required as the project advances toward feasibility.
Key Dates & Timeline
| Date | Event |
|---|---|
| February 2025 | Nanadie acquisition completed |
| February 2026 | Phase 1 first assays — 62m @ 1.55% Cu, 0.66 g/t Au |
| April 2026 | $32.6M placement at $1.00/share |
| 27 April 2026 | NANRCD004 completed to 629.1m; stock moved +21.7% |
| ~June 2026 | Diamond tail assay results expected |
| H1–H2 2026 | Phase 2 RC (10,000m) and remaining diamond tails ongoing |
| TBC | Updated MRE incorporating Phase 1 + Phase 2 |
Price Data
- Previous Close: $1.265
- Close Price (27 April 2026): $1.540
- Change (27 April 2026): +21.7%
- 52-Week Range: $0.175 – $1.542
Notable Price Levels
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$1.542 — 52-week high and intraday high, with the stock closing at $1.540 (two-tick spread). No historical overhead supply exists above this level — the stock is in uncharted territory within the Nanadie re-rating. The near-zero close-to-high spread indicates sustained buyer control with no intraday rejection.
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$1.000 — the exact placement price from the April 2026 $32.6 million institutional raise. This is the single most important reference level — it is the price at which the company's largest-ever capital raise was priced and represents the institutional cost basis. Below $1.00, all placement participants are at a loss.
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$0.850 — the February–March 2026 consolidation zone where the market initially priced the Phase 1 first assay results (62m @ 1.55% Cu). A retracement here would imply the market has reverted to its first-assay valuation, discounting all subsequent drilling, placement, and diamond tail news.
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$0.175 — 52-week low, set before the Nanadie acquisition. A return here would reverse the entire ~780% re-rating, pricing SLS back to its pre-Nanadie valuation as a Yarri-focused gold explorer.
Summary
Solstice Minerals completed the deepest drill hole in Nanadie's history at 629.1 metres, with visible chalcopyrite observed at depth — extending the copper-gold system below the existing 40.4Mt Inferred resource. The stock moved +21.7% to a new 52-week high of $1.540 on 27 April 2026, closing two ticks below the session high. The diamond campaign (~2,000m) is running alongside a 10,000-metre Phase 2 RC program — the most intensive drilling in the project's history, backed by a $32.6 million placement at $1.00. Assays from NANRCD004 are expected in approximately six weeks. Visible mineralisation does not guarantee economic grades, no scoping or feasibility study has been completed, and the existing resource estimate predates the current drilling by over a decade. SLS has appreciated approximately 780% from its $0.175 52-week low.
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