Solis Announces Drilling to Commence at Chancho al Palo, Peru
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) ha ricevuto l'approvazione per iniziare la perforazione nel suo progetto di rame-oro Chancho al Palo, di cui detiene il 100% in Perù. L'azienda prevede una campagna di perforazione a diamante di 7.500 metri, iniziando con 5 fori di perforazione per un totale di 2.500 metri, con possibilità di espansione.
Il programma di perforazione segue un recente collocamento di 4,5 milioni di dollari australiani e sarà condotto insieme alla prossima perforazione del progetto Ilo Este, una volta ottenuti i permessi. I campioni saranno elaborati presso il laboratorio di ALS Global a Lima. I progetti sono strategicamente situati vicino alla costa a un'altitudine inferiore ai 1.100 metri, con accesso a infrastrutture critiche e prossimità a importanti operazioni minerarie.
Il progetto Chancho al Palo è composto da quattro concessioni contigue nella Cintura Costiera Meridionale del Perù. Le indagini geofisiche hanno identificato obiettivi di carica significativi, con la sezione occidentale che mostra potenziale per mineralizzazione IOCG e la sezione orientale che indica potenziale per mineralizzazione di tipo porfirico. L'azienda prevede di generare un flusso costante di notizie durante tutto il 2025.
Solis Minerals (ASX: SLM, TSXV: SLMN) ha recibido la aprobación para comenzar la perforación en su proyecto de cobre-oro Chancho al Palo, del cual posee el 100% en Perú. La compañía planea una campaña de perforación de diamante de 7.500 metros, comenzando con 5 pozos de perforación que suman 2.500 metros, con potencial de expansión.
El programa de perforación sigue una reciente y se llevará a cabo junto con la próxima perforación del proyecto Ilo Este una vez que se obtengan los permisos. Los ensayos se procesarán en el laboratorio de ALS Global en Lima. Los proyectos están estratégicamente ubicados cerca de la costa a altitudes por debajo de los 1.100 metros, con acceso a infraestructura crítica y proximidad a importantes operaciones mineras.
El proyecto Chancho al Palo consiste en cuatro concesiones contiguas en la Cintura Costera Sur de Perú. Las encuestas geofísicas han identificado objetivos de carga significativos, con la sección occidental mostrando potencial para mineralización IOCG y la sección oriental indicando potencial para mineralización de tipo porfirítico. La compañía espera generar un flujo constante de noticias a lo largo de 2025.
솔리스 미네랄스 (ASX: SLM, TSXV: SLMN)는 페루의 100% 소유 구리-금 프로젝트인 찬초 알 팔로에서 시추를 시작할 수 있는 승인을 받았습니다. 회사는 7,500미터 다이아몬드 시추 캠페인을 계획하고 있으며, 2,500미터에 해당하는 5개의 시추 홀로 시작하여 확장 가능성을 염두에 두고 있습니다.
이번 시추 프로그램은 최근 450만 호주 달러의 자금 조달에 이어 진행되며, 허가가 확보되는 대로 다가오는 일로 에스테 프로젝트의 시추와 함께 진행될 예정입니다. 샘플은 리마에 있는 ALS Global의 실험실에서 처리됩니다. 프로젝트들은 해안 근처의 해발 1,100미터 이하에 전략적으로 위치해 있으며, 주요 광산 운영과의 근접성과 중요한 인프라에 대한 접근성을 가지고 있습니다.
찬초 알 팔로 프로젝트는 페루 남부 해안 벨트에 위치한 네 개의 인접한 양허권으로 구성되어 있습니다. 지구물리학적 조사에서 중요한 전하 가능 목표가 확인되었으며, 서쪽 구역은 IOCG 광물화 가능성을 보이고 동쪽 구역은 포르피리 스타일의 광물화 가능성을 나타냅니다. 회사는 2025년 내내 강력한 뉴스 흐름을 생성할 것으로 기대하고 있습니다.
Solis Minerals (ASX: SLM, TSXV: SLMN) a reçu l'approbation pour commencer le forage de son projet de cuivre-or Chancho al Palo, dont il détient 100% en Peru. La société prévoit une campagne de forage diamant de 7 500 mètres, commençant par 5 trous de forage totalisant 2 500 mètres, avec un potentiel d'expansion.
Le programme de forage suit un récent placement de 4,5 millions de dollars australiens et sera réalisé en même temps que le forage du projet Ilo Este dès que les permis seront obtenus. Les échantillons seront traités au laboratoire d'ALS Global à Lima. Les projets sont stratégiquement situés près de la côte à des altitudes inférieures à 1 100 mètres, avec un accès à des infrastructures critiques et à proximité d'importantes opérations minières.
Le projet Chancho al Palo se compose de quatre concessions contiguës dans la ceinture côtière sud du Pérou. Des études géophysiques ont identifié des cibles de charge significatives, la section ouest montrant un potentiel de minéralisation IOCG et la section est indiquant un potentiel de minéralisation de type porphyre. L'entreprise s'attend à générer un flux constant de nouvelles tout au long de l'année 2025.
Solis Minerals (ASX: SLM, TSXV: SLMN) hat die Genehmigung erhalten, mit der Bohrung in seinem 100% im Besitz befindlichen Kupfer-Gold-Projekt Chancho al Palo in Peru zu beginnen. Das Unternehmen plant eine 7.500 Meter umfassende Diamantbohrkampagne, beginnend mit 5 Bohrlöchern, die insgesamt 2.500 Meter umfassen, mit der Möglichkeit einer Erweiterung.
Das Bohrprogramm folgt einer kürzlichen Platzierung von 4,5 Millionen AUD und wird zusammen mit der bevorstehenden Bohrung des Projekts Ilo Este durchgeführt, sobald die Genehmigungen erteilt sind. Die Proben werden im Labor von ALS Global in Lima verarbeitet. Die Projekte sind strategisch nahe der Küste in Höhenlagen unter 1.100 Metern gelegen, mit Zugang zu kritischer Infrastruktur und in der Nähe wichtiger Bergbauoperationen.
Das Projekt Chancho al Palo besteht aus vier zusammenhängenden Konzessionen im südlichen Küstenbereich Perus. Geophysikalische Untersuchungen haben signifikante Zielgebiete für die Ladungsfähigkeit identifiziert, wobei der westliche Abschnitt Potenzial für IOCG-Mineralisierung zeigt und der östliche Abschnitt auf Porphyr-Mineralisierungspotenzial hinweist. Das Unternehmen erwartet, im Laufe des Jahres 2025 einen starken Nachrichtenfluss zu generieren.
- Secured permits for 7,500-meter drilling campaign at 100%-owned copper-gold project
- Recently raised A$4.5 million to fund exploration activities
- Strategic location near critical infrastructure and major mining operations
- Projects situated in established copper-producing region with favorable geology
- surface exposure of copper mineralization at Chancho al Palo
- Drilling permits for Ilo Este project still pending
HIGHLIGHTS
Solis Minerals has received approvals to commence drilling at its copper-gold project Chancho al Palo (
100% ownership) in Peru.Leading Peruvian drilling contractor to commence a 7,500-meter diamond drilling campaign of copper-gold targets. Drilling is anticipated to begin imminently.
Drilling permits for the Company's other drill-ready target, Ilo Este (
100% ), are expected in the coming weeks.Assay samples will be processed at ALS Global's laboratory in Lima, Peru, a leading facility in geochemical analysis.
The commencement of drilling at Chancho al Palo, followed by Ilo Este, alongside continued target identification across the Company's highly prospective copper-gold projects, is expected to generate strong news flow throughout 2025.
Solis Minerals is committed to its objective of identifying copper-gold resources that have potential to host large-scale mining in one of the world's leading copper producing regions.
Perth, Western Australia--(Newsfile Corp. - April 7, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) ("Solis Minerals" or the "Company") is pleased to announce the receipt of permits to commence drilling at its Chancho al Palo project in southern Peru. The program will begin with approximately 5 drill holes, totalling 2,500 meters, with scope for expansion.
The commencement of drilling firstly at Chancho al Palo, and shortly Ilo Este, delivers on commitments made in support of the recently announced placement of A
Solis Minerals' exploration drill targets are located near the coast, exhibit promising mineralisation at surface – particularly Ilo Este, and benefit from access to critical infrastructure essential for future mining operations. Elevations do not exceed 1,100 metres. The region hosts several major international copper mining companies in production or with advanced projects including Southern Copper, Teck and Anglo American. The Company's targets are analogous to AusQuest Limited's (ASX: AQD) Cangallo exploration prospect in southern Peru where wide zones of copper mineralisation have been discovered.
Chief Executive Officer, Mitch Thomas, commented:
"Drilling commencement at Chancho al Palo marks the start of an exciting phase of growth for the Company. Following 12 months of detailed technical and permitting work by the experienced Solis Minerals team, targets will now be tested through a diamond core drilling program of up to 7,500 meters in Southern Peru.
"Chancho al Palo and Ilo Este exhibit strong potential to contain large scale porphyry and iron oxide copper-gold ("IOCG") systems consistent with nearby operating mines. Solis Minerals expects to deliver a steady stream of updates over the next two to four months as assay results become available.
"With copper prices nearing US
Figure 1: 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. Values for operations and projects sourced from company websites[2].
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/247681_solisimage.jpg
Chancho al Palo (
The project comprises four contiguous concessions situated within the Southern Coastal Belt of Peru (Figure 1). Geophysical surveys, including drone magnetometry and induced polarisation (IP) studies, have identified significant chargeability targets, with albeit limited surface exposure confirming copper mineralisation. Two primary mineralisation styles have been identified: (i) the western section of the project area is prospective for IOCG mineralisation, (ii) while the eastern section demonstrates potential for porphyry-style mineralisation.
Next steps
Drilling is expected to commence shortly at Chancho al Palo. A leading local drilling company has been engaged. Assaying will be carried out at ALS Global in Lima, Peru.
In parallel, permit approvals to commence drilling 5,000-meter program at Ilo at Este are being finalised. These are expected as soon as the end of April 2025. Drilling is then planned take place concurrently between Chancho al Palo and Ilo Este following granting of all approvals. This maiden drilling programme delivers on Solis Minerals objective of identifying copper-gold resources that have potential to host large-scale mining in one of the world's leading copper producing regions.
ENDS
This announcement is authorised by Mitch Thomas, Chief Executive Officer of Solis Minerals Ltd.
Contact
Mitch Thomas
Chief Executive Officer
Solis Minerals Limited
+61 458 890 355
Media & Broker Enquiries:
Fiona Marshall & Jason Mack
White Noise Communications
fiona@whitenoisecomms.com
jason@whitenoisecomms.com
+61 400 512 109
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
About Solis Minerals Limited
Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Southern Coastal Belt of Peru and currently holds 81 concessions totalling 69,200 Ha. 47 concessions are fully granted (39,000 Ha) and 34 concessions are being processed (30,200 Ha).
The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis Minerals is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis Minerals, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region.
Forward-Looking Statements
This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected, including, but not limited to, market conditions, availability of financing, actual results of the Company's exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
Qualified Person Statement
The technical information in this news release was reviewed by Michael Parker, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101). Michael Parker is Technical Director of the Company.
Competent Person Statement
The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Michael Parker, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Parker is a contractor to Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the exploration activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves." Mr Parker consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Parker has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement.
[1] Refer to (ASX: SLM) announcement 26 February 2025: '
[2] Nearby properties and projects is for information purposes only and there are no assurances the company would achieve the same results at its projects.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247681
FAQ
What is the size of Solis Minerals' (SLMFF) planned drilling program at Chancho al Palo?
When will SLMFF begin drilling at the Ilo Este project?
How much funding did SLMFF recently secure for its drilling programs?
What types of mineralization have been identified at SLMFF's Chancho al Palo project?
