Welcome to our dedicated page for Solis Minerals news (Ticker: SLMFF), a resource for investors and traders seeking the latest updates and insights on Solis Minerals stock.
Solis Minerals Ltd. reports developments for a South American copper exploration portfolio centered on Peru. Company updates focus on copper project work across assets such as the Cucho Copper Project, the 100%-owned Cinto Copper Project, and core tenements in the Southern Coastal Belt, including exploration targeting, surface mapping, geochemical work, geophysical modelling, and drilling permits.
News also covers corporate and reporting matters, including Solis Minerals' continuance as an Australian company, changes to its financial year-end, shareholder voting matters, governance updates, capital-structure disclosures, material agreements, and operating and financial results.
Solis Minerals (SLMFF) has initiated diamond drilling at its flagship Ilo Este copper-gold project in Peru. The company plans to execute a 5,000-metre drilling program targeting areas of known copper-gold mineralization and new target zones identified through recent geophysical and geological work.
The project is strategically located in a world-class mining district near major copper mines operated by Southern Copper, Teck, and Anglo American. Historical drilling results have shown promising mineralization, including intersections of 158 metres @ 0.20% copper and 0.16 g/t gold from surface, and 291 metres @ 0.21 g/t gold from 102 metres.
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.