Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) has received all necessary permits to start drilling at its Ilo Este copper-gold project in southern Peru, aiming to target a series of high-priority areas identified through a combination of extensive geochemical analysis, geophysical surveys and historical drilling data.
The planned diamond drilling program, set to kick off this month, will consist of about 5,000 metres of drilling across 10 holes. These targets are strategically located near the coast and benefit from ready access to vital infrastructure, which is crucial for potential future mining operations.
Solis Minerals CEO Mitch Thomas called the drilling campaign an “exciting phase of exploration”, noting the project’s significant promise.
"The extent of at-surface geochemistry, strong geophysical targets and peripheral historical drilling with geologically significant copper-gold results at Ilo Este creates a particularly attractive project," he said. “Solis Minerals expects to deliver a steady stream of updates as assay results become available."
Strategic location and infrastructure
Ilo Este is situated in one of the world’s most productive mining regions — the coastal copper belt of southern Peru, which hosts major international copper producers such as Southern Copper, Teck and Anglo American. The project covers a 3-square-kilometre area and has already shown signs of significant mineralisation, with visible copper oxides such as malachite recorded at surface.
Previous drilling has intersected sulphide mineralisation, while recent geophysical surveys have outlined a large-scale, high-chargeability anomaly at depths ranging from 100 to 500 metres below the surface, suggesting the presence of a substantial sulphide system.
In addition to its promising mineralisation, Ilo Este’s location is well-placed to benefit from the region's established mining infrastructure, including proximity to the port city of Ilo. The project’s access to transportation and other key infrastructure is expected to support the economic viability of any future developments.
Exploration and regional strategy
Solis is targeting large-scale copper-gold resources at Ilo Este, with a focus on expanding on the promising results from previous exploration and advancing its geological model. The project is viewed as a highly prospective, underexplored copper-gold system with significant potential for resource expansion.
The company’s regional strategy focuses on exploring copper and gold prospects across southern Peru’s prolific coastal copper belt, with Ilo Este and Ilo Norte forming the core of its land package. As part of its ongoing exploration efforts, Solis Minerals is also advancing work at its nearby Chancho al Palo copper-gold project, where drilling is also under way.
Ilo region of the Department of Moquegua, Peru showing Solis Minerals’ exploration project areas including Ilo Este, Chancho al Palo, Cinto and Chocolate as well as exploration ground held by major mining companies.
Solis expects further updates on Ilo Este and other projects in its South American copper portfolio throughout the second half of 2025, as drilling results and assay data begin to flow in.