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Highlights
Solis Minerals has identified copper porphyry mineralisation at the Cinto Project in Peru.
The company reports copper grades up to one percent across an expansive area.
A geophysical survey and further exploration efforts are underway to define drilling locations.
Solis Minerals (ASX:SLM), an exploration company, operates within the mining sector, focusing on copper and other base metals. The company’s exploration projects are primarily located in Peru, a region known for its rich copper deposits. Solis has recently made significant progress at its Cinto Project, highlighting it as a promising site for copper extraction.
Mineralisation Identified at Cinto
Recent findings at the Cinto Project reveal copper porphyry mineralisation in various styles. According to the company's reports, the mineralisation extends over a large area measuring approximately three kilometers in length and nearly one kilometer in width. These findings come from channel samples, which have confirmed the presence of copper grades as high as one percent. This discovery reinforces the project's significance within Solis's broader exploration portfolio.
Geophysical Data and Exploration Plans
Solis has utilised drone magnetometry to gather geophysical data, which has indicated that the scale of the mineralisation could be considerable. This data has highlighted new areas for further exploration. In response to these promising results, the company is moving forward with plans to conduct an induced polarisation (IP) survey. The IP survey is expected to assist in refining drill targets in preparation for the drilling program scheduled for later in the year. The results from the IP survey are anticipated to be available soon, further supporting the company's exploration efforts.
Site Visits and Surface Mineralisation
Solis's CEO, Mitch Thomas, and Technical Director Mike Parer recently visited the project site to inspect the ongoing exploration work. The company has noted visible mineralisation at the surface of the Cinto site, which adds confidence to the project’s prospects. The on-the-ground observations were seen as a positive sign for the future of the project, aligning with the company’s focus on identifying large-scale copper-gold resources in Peru, a region that is globally recognised for its copper production.
Further Drilling and Exploration Activities
Alongside the work at Cinto, Solis is advancing other projects within its portfolio. Drilling is set to commence at the Chancho al Palo and Ilo Este sites. These projects are part of Solis’s ongoing commitment to expanding its exploration efforts in Peru. While drilling progresses at these sites, Solis is continuing to investigate the Cinto Project. Specifically, the company will explore low magnetic anomalies that have yet to be fully assessed. This exploration will involve mapping and rock geochemistry to gain further insights into the project’s mineralisation.
Expansive Project Holdings in Peru
Solis holds numerous exploration concessions across southwestern Peru. The company’s portfolio includes over 65,000 hectares of land that are considered highly prospective for copper and gold deposits, particularly iron-oxide copper-gold and porphyry copper mineralisation. These expansive holdings reflect Solis’s focus on building a significant presence in one of the world's leading copper-producing regions.
