Solis Minerals (ASX:SLM) is set to begin a 7,500m diamond drilling program across copper-gold targets at the Chancho Al Palo Project in southern Peru.
The program, which will be carried out by a local drilling company, will comprise five drillholes, with scope for expansion. Assaying will be conducted at ALS Global in Lima, Peru.
Solis’ drill targets are located near the coast and exhibit promising mineralisation at surface — particularly at the Ilo Este Project in Peru.
At Ilo Este, a 5,000m drilling program will begin following the completion of Chancho Al Palo’s drilling and once all approvals have been granted. This is expected to be at the end of this month.
The company, which is also listed on the TSX Venture Exchange (TSX-V), says this maiden program is expected to deliver on Solis’ objective of uncovering copper-gold resources that have potential to host large-scale mining in one of the world’s leading copper producing regions.
CEO Mitch Thomas says this is the beginning of a growth phase for Solis.
“Following 12 months of detailed technical and permitting work by the experienced Solis Minerals team, targets will now be tested through a diamond core drilling program of up to 7,500m in Southern Peru,” Thomas says.
“Chancho Al Palo and Ilo Este exhibit strong potential to contain large-scale porphyry and iron oxide copper-gold systems consistent with nearby operating mines.
“With copper prices nearing US$10,000 ($16,685) per tonne and gold surpassing US$3,000 per ounce — with near all-time highs — this is an optimal time for exploration.”
The Chancho Al Palo Project comprises four contiguous concessions situated within the Southern Coastal Belt of Peru. Two primary mineralisation styles have been identified to date, considered prospective for IOCG and porphyry-style mineralisation.
Solis Minerals is a junior explorer focused on exploring for critical minerals, particularly copper, in South America.
Write to Aaliyah Rogan at Mining.com.au
Images: Solis Minerals
