Solis Minerals Ltd made solid progress across its portfolio of copper assets within Peru’s Coastal Copper Belt, both expanding its landholding and advancing several exploration targets during the previous quarter.
Drilling is set to resume on the company’s assets in the first quarter of 2025, investigating high-priority targets across SLM’s 65,100-hectare landholding.
Advancing project targets
The company is preparing to launch high impact drilling campaigns, beginning with Chancho Al Palo in Q1 2025, followed by Ilo Este in Q2, subject to final permitting.
SLM will also undertake exploration activities at the Cinto, Chocolate, and Canyon projects.
Cinto Project
The project covers seven tenements across 3,169ha, about 15 kilometres from the Toquepala copper mine. Magnetometry surveys and geochemical studies are underway to define drill targets.
Rock sampling has yielded high-grade copper results, with assays reaching 7.14% Cu.
Chocolate Project
Covering 6,400ha, the project lies between Ilo Este and Chancho Al Palo.
Geophysical and geochemical surveys have identified targets similar to Ilo Este’s mineralisation profile.
Recent rock sampling confirmed copper and gold mineralisation, with assays of 0.37% Cu and 0.17g/t gold.
Additional exploration will refine targets ahead of a planned drilling campaign in Q4 2025.
Canyon Project
Solis applied for 27 exploration concessions covering 25,600ha. Initial reconnaissance revealed copper oxides in intrusive rocks along a 400-metre-long zone.
The project will undergo mapping, remote sensing, and geochemical analysis to define the most prospective drill targets.
Permitting and Exploration Progress
At Chancho Al Palo, Solis has completed all environmental monitoring and community engagement, with archaeological certification expected by the end of January 2025.
The company has secured a drill rig for an initial 2,500-metre diamond drilling program.
At Ilo Este, permitting efforts continue, with archaeological certification obtained and environmental monitoring complete.
Community engagement and surface rights negotiations are in progress. Following drilling at Chancho Al Palo, the company plans to commence a 5,000-metre diamond drill program at Ilo Este.
Solis Minerals is set for an active 2025, with drilling at Chancho Al Palo and Ilo Este leading exploration efforts.
Cinto and Chocolate are expected to reach drill-ready status by mid-to-late 2025, while systemic exploration continues at the Canyon Project to define additional targets.
The company continues to assess strategic acquisitions, focusing on drill-ready copper and gold assets with demonstrated mineralisation potential.