Solis Minerals (ASX:SLM) has planted a drill rig to hit priority targets at its wholly owned Chancho al Palo Project in Peru.
The company has enlisted local company AKD International to assist with drilling.
The diamond drilling program will test anomalies identified in surface mapping, sampling, and geophysics, comprising 2,500m of landholding.
Assay results are expected to return in July 2025.
CEO Mitch Thomas says drilling will target a series of porphyry and iron-oxide-copper-gold anomalies.
“Importantly, Chancho al Palo is located 10km from the coast and 25km from Southern Copper’s smelter and refinery complex,” Thomas says.
“Southern Copper is Peru’s largest copper producer and holds tenements adjacent to Chancho al Palo, further validating the geological potential of the area.”
Meanwhile, Solis, which has a market capitalisation of $15.51 million, is awaiting the return of final permits to begin drilling at its wholly owned Ilo Este Project just 20km from Chancho al Palo
The company expects to start drilling at both projects this weekend (31 May to 1 June).
“It’s an exciting period as we systematically test high-priority targets across our Peruvian portfolio,” Thomas says.
Solis Minerals is an exploration company focusing on the development of copper projects across its portfolio in Peru spanning 65,100 hectares.
Write to Maddison Elliott at Mining.com.au
Images: Solis Minerals
