Solis Minerals (ASX:SLM) has identified extensive copper mineralisation at the group’s Ilo Este Project in Southern Peru, after starting a 5,000m diamond drilling campaign.
The first drillhole by Solis was completed at a 483.10m depth, with the second hole set to be drilled at 200m south-southwest of the first drill pad.
Visual analysis has confirmed four mineralised intersections totalling 350m from surface with copper and molybdenum observed. The extent of the mineralisation and grade is yet to be confirmed by laboratory assays, anticipated to return in the next four weeks.
As Mining.com.au reported, the diamond drilling program is following up historical intercepts which returned broad porphyry-style copper-gold mineralisation, including intercepts grading 0.20% copper and 0.21 grams per tonne gold.
The program will also test priority geophysical and geochemical anomalies, as well as assessing the resource potential at Ilo Este.
CEO Mitch Thomas says the company is “excited” by the evidence of mineralisation.
“We have encountered mineralisation across long intercepts of 350m,” Thomas says.
“While assays will determine grades and overall prospectivity, we are very encouraged by the geology, alteration, and visual results.”
The Ilo Este Project has previously been explored between 2000 and 2001, as well as between 2014 and 2016. Historical drilling identified mineralisation consistent with a large copper-gold porphyry system.
Meanwhile, recent geochemical and geophysical studies completed by Solis has uncovered new areas within northern and southern magnetic anomalies which are thought to contain higher grade copper-gold mineralisation.
Solis Minerals is a junior mineral explorer focused on building its copper portfolio in the Coastal Belt of Peru.
Write to Aaliyah Rogan at Mining.com.au
Images: Solis Minerals
