Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) is developing a pipeline of promising copper targets at the Guaneros Project in Peru, leveraging a drone magnetic survey and the company’s understanding of the local Peruvian Coastal Copper Belt to identify prospective zones.
SLM took two rock samples from an area host to both a magnetic anomaly and promising geological alterations.
The rock grabs returned elevated copper and gold values, registering at 0.37% and 0.14% copper, and 0.17 g/t and 0.11 g/t gold, respectively.
Solis sees Guaneros as a high-priority exploration target – based on a combination of magnetometry and geochemistry data mapped over the region – and intends to conduct induced polarisation (IP) surveys over particularly promising anomalies before setting the drill bit to work.
Copper-fertile Peruvian Coastal Belt
“The results of the drone magnetometry have made a highly significant contribution to our understanding of settings for potential mineralisation in the prospective Coastal Belt,” Solis executive director Mike Parker said.
“At Guaneros, similar magnetic signatures to those associated with known mineralisation at nearby Ilo Este are evident.
“Rock samples in the area have returned highly anomalous copper and gold values associated with alteration akin to porphyry style mineralisation.
“We will continue to complement our knowledge, with ground investigations and further geophysics where appropriate, as we develop a clear roadmap to permitting and drilling.
“The Guaneros Project, along with the neighbouring Ilo Este and Chancho al Palo Projects, have developed into a major focus for our copper exploration in South Peru.
“We look forward to progressing our permitting and drilling.”
Solis is advancing its exploration programs at pace, with geochemical sampling and mapping ongoing at Guaneros ahead of a drilling program expected to begin in the last quarter of 2025.
In the meantime, Solis will drill at Chancho al Palo this quarter, then Ilo Este early next year, with mapping and drill targeting progressing for Cinto and Guaneros in the background.