Solis Minerals Ltd Stock Price, News & Analysis

Solis Minerals has announced the arrival of a diamond drill rig at its 100% owned Chancho al Palo project in Peru, marking a significant milestone as the first-ever drilling program at the concession. The drilling program will comprise approximately 2,500 meters across several priority targets, testing multiple anomalies identified through surface mapping, sampling, and geophysics. The project is strategically located 10 kilometers from the coast and 25 kilometers from Southern Copper's smelter and refinery complex. CEO Mitch Thomas will travel to Peru to oversee drilling operations at both Chancho al Palo and Ilo Este projects, with assay results expected in July 2025. The Ilo Este drilling is anticipated to commence in June, pending final permits.

Solis Minerals (SLMFF) has announced significant developments across three copper-gold projects in Peru. The company has mobilized a drill rig to commence a 2,500m diamond drilling program at its 100% owned Chancho al Palo project, marking its first-ever drilling campaign at the site. The project is strategically located in the coastal copper belt alongside notable projects like AusQuest's Cangallo and Southern Copper's Tia Maria. Additionally, Solis has received drill permit approval from MINEM for its Ilo Este project, with a 5,000m diamond drilling program expected to begin in June 2025. The company is also completing an IP survey at its Cinto project, which neighbors Southern Copper's Toquepala mine that produced 225,000 tonnes of copper in 2024. Results from the Cinto IP survey are anticipated in June 2025.

Solis Minerals reports significant progress in its Q1 2025 activities, securing a A$4.5 million placement to support drilling operations in Peru. The company confirmed new copper-gold targets at the Chocolate Project, with impressive assays including 4.92% Cu and 2.47 g/t Au.

At the Cinto Project, located 15km from Toquepala mine, extensive copper porphyry mineralization was identified, with channel sampling highlights of 23.4m @ 0.88% Cu. The company appointed Mitch Thomas as CEO and received drilling approval for Chancho al Palo Project, with Ilo Este approval expected soon.

The company holds 81 exploration concessions totaling 69,200Ha in Peru's coastal belt, with 60% focused on the flagship Ilo Este target. With copper prices exceeding US$10,000/tonne and gold reaching US$3,000/oz, Solis is strategically positioned to advance large-scale resource opportunities in one of the world's leading copper regions.

Solis Minerals (ASX: SLM, TSXV: SLMN, OTCQB: SLMFF) has successfully completed Tranche 2 of its Placement, raising A$2,633,296.35 through the issuance of 30,979,957 CHESS Depositary Interests (CDIs) at A$0.085 per share. The placement includes 26,470,627 unlisted options exercisable at A$0.16 with a two-year term.

Assisting brokers received 6% fees totaling A$145,697.78 and will receive 12,632,353 unlisted options exercisable at A$0.14875 with a three-year term. An additional 294,118 CDIs and 147,059 unlisted options are being issued for A$25,000. The company's total issued equity capital post-Tranche 2 is now 141,080,178 shares.

The company has also issued 6,000,000 performance rights to its CEO and 6,800,000 to its Directors, as approved at the Special Shareholder Meeting on April 16, 2025.

Solis Minerals (ASX: SLM) has announced additional high-grade copper mineralization at its Cinto Project in Peru. Recent channel sampling revealed significant results, including 26.5m @ 0.28% Cu (Channel 11), with a high-grade section of 5.4m @1.0% Cu. Previous sampling had shown results of 23.4m @ 0.88% Cu and 16.8m @ 0.52% Cu.

The copper mineralization extends across a potential area of 3km long and 0.75km wide. The project is located 15km southeast of the Toquepala mine, one of Peru's largest copper operations. Four distinct mineralization types have been identified, predominantly in breccias. The company has initiated permitting for drilling scheduled to begin in the second half of 2025.

The project's geological setting along the Incapuquio Fault System is considered favorable for large-scale porphyry copper deposits. Geophysical data from drone magnetometry supports scale potential and highlights new target areas.

Solis Minerals (ASX: SLM, TSXV: SLMN) has received approval to begin drilling at its 100%-owned Chancho al Palo copper-gold project in Peru. The company plans a 7,500-meter diamond drilling campaign, starting with 5 drill holes totaling 2,500 meters, with potential for expansion.

The drilling program follows a recent A$4.5 million placement and will be conducted alongside the upcoming Ilo Este project drilling once permits are secured. Assays will be processed at ALS Global's laboratory in Lima. The projects are strategically located near the coast at elevations below 1,100 meters, with access to critical infrastructure and proximity to major mining operations.

The Chancho al Palo project consists of four contiguous concessions in Peru's Southern Coastal Belt. Geophysical surveys have identified significant chargeability targets, with the western section showing potential for IOCG mineralization and the eastern section indicating porphyry-style mineralization potential. The company expects to generate strong news flow throughout 2025.

Solis Minerals (ASX: SLM, TSXV: SLMN, OTCQB: SLMFF, FSE: 08W) has received approval from the TSX Venture Exchange (TSXV) for an extension on its Tranche 2 placement closing date. The TSXV typically requires placements to close within 45 days of announcement, but has granted Solis a 30-day extension from March 25, 2025, to accommodate the company's Special Shareholder Meeting scheduled for April 16, 2025. The original Tranche 1 and 2 placements were announced on February 26, 2025.

Solis Minerals (ASX: SLM, TSXV: SLMN, OTCQB: SLMFF) has successfully completed Tranche 1 of its Placement, raising A$1,866,703.70 through the issuance of 21,961,220 CHESS Depositary Interests (CDIs) at A$0.085 per New Share. Following this allotment, the company's total issued equity capital stands at 109,806,103 shares.

Assisting brokers received aggregate fees of 6% (A$112,002.22) for funds raised under Tranche 1. Tranche 2 of the Placement requires shareholder approval at a Special Shareholder Meeting scheduled for early April 2025. CDIs issued on ASX have a four-month and one-day holding period before conversion into common shares for Canadian trading.

Solis Minerals (SLMFF) has secured firm commitments for a A$4.5 million placement from institutional and sophisticated investors, including A$205,000 from Directors pending shareholder approval. The placement consists of CHESS Depository Interests at A$0.085 per share with a 1:2 unlisted option exercisable at 16c with a two-year term.

The funds will support:

• Drilling at Ilo Este and Chancho al Palo copper targets in Peru
• Pre-drilling work at the Cinto Project
• Regional target definition work
• General working capital

The placement will be executed in two tranches: Tranche 1 raising A$1.87 million through 21,961,220 shares, and Tranche 2 raising A$2.63 million through 30,979,957 shares, subject to shareholder approval in March 2025. Drilling permits have been awarded for Chancho al Palo, with remaining approvals expected soon.