Solis Minerals Strengthens Peru Focus With Drilling Progress and ASX Listing Strategy

June 18, 2025 05:15 PM AEST | By Team Kalkine Media

Solis Minerals Strengthens Peru Focus With Drilling Progress and ASX Listing Strategy — Image source: Shutterstock

Drilling Milestone in Peru

Solis Minerals has successfully completed the first drill hole at its Chancho al Palo Project in Peru, reaching a depth of 600 metres. The company confirmed the presence of visible copper mineralisation from around 180 metres downhole—an encouraging sign for the porphyry-style system being targeted.

CEO Mitch Thomas, speaking from the site, emphasized the significance of encountering mineralisation in the first drill hole. While this represents a positive start, the company awaits assay results, expected by the end of July 2025, to determine the full potential of the intercepts.

The current drilling campaign is expected to conclude in the next three to four weeks, with all efforts now concentrated on exploration outcomes that could redefine the project’s scope.

Shift in Market Focus to ASX

In a major strategic decision, Solis Minerals is withdrawing its listing from the TSX, opting to concentrate exclusively on the ASX. According to Thomas, this move is designed to optimise resource allocation and align with the company’s shareholder base. The transition enables a more streamlined capital deployment, particularly towards exploration initiatives in Peru.

The ASX has become the company’s primary platform, reflecting a broader trend among junior explorers prioritising visibility and funding efficiency in Australia's well-established capital markets.

Future Exploration Plans

Beyond Chancho al Palo, Solis Minerals is preparing for additional activity at its Ilo Este Project. Planning is underway, signalling the company’s continued commitment to unlocking value across its Peruvian portfolio.

With a renewed operational focus, strong geological indicators, and an aligned listing strategy, Solis Minerals is positioning itself for impactful progress in the months ahead.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.