Solis Minerals Uncovers IOCG-Style Mineralisation in Peru, Fueling Excitement Around Copper Prospects

June 23, 2025 01:15 PM AEST | By Team Kalkine Media

Google News:

Solis Minerals Uncovers IOCG-Style Mineralisation in Peru, Fueling Excitement Around Copper Prospects — Image source: shutterstock

Recent News

FTSE 100 Mining Stock (LON:GLEN) Tracks Resources Sector Movement

Geopolitical Tensions Mount but ASX 200 Holds Ground Amid Conflict Noi...

Virgin Australia Prepares ASX 200 Return with Restructured IPO Plan

Greatland Resources Lists on ASX 200 as UK Scheme Becomes Effective

Highlights

First drill at Chancho al Palo intersects IOCG and porphyry-style mineralisation

Visible gold observed at depth of 620 metres

Follow-up drill program underway to expand exploration insights

Solis Minerals (ASX:SLM) has reported a promising breakthrough at its 100%-owned Chancho al Palo copper-gold project in Peru. The company successfully completed its first diamond drill hole, encountering both iron oxide copper-gold (IOCG) and porphyry-style mineralisation, signaling the strong potential of the site.

The initial drill hole, CAP-001-2025, extended to 713 metres. Notably, IOCG-style mineralisation first appeared at 184 metres, including visible chalcopyrite – a key indicator of copper presence. Further down the hole, porphyry-style mineralisation was detected from 451 metres, with an uptick in IOCG mineralised breccias emerging at 586 metres. A particularly exciting milestone came at 620 metres, where visible gold was observed.

This marks the inaugural drilling activity at Chancho al Palo. The findings confirm interpretations made during previous geophysical and geochemical surveys, supporting the company’s exploration framework. These early indicators point toward a potentially significant copper-gold system, bolstered by Peru’s standing as one of the world’s foremost copper-producing nations.

With momentum building, Solis has already mapped out a 2,500-metre drilling program. The next drill hole will be positioned 200 metres west of the first, continuing the strategic investigation of the site. The goal is to validate geophysical anomalies, determine structural controls, and delineate hydrothermal alteration zones that could lead to large-scale mineralised systems. Results from assay testing are anticipated by August.

Chancho al Palo is advantageously located within Peru’s coastal copper belt, just nine kilometres from the Pacific coastline and in proximity to established processing infrastructure. This region also hosts major mining operations including Quellaveco and Toquepala, offering a supportive environment for future development.

This advancement from Solis Minerals aligns with the broader investor interest in copper-related projects, particularly given the global shift toward electrification and renewable infrastructure. Though not a current constituent of the ASX200 stocks, the company’s exploration milestones have attracted attention from those monitoring the Australian mining sector’s growth trajectory.

With drilling underway and assays on the horizon, the coming months will be critical in determining the scale and commercial viability of the Chancho al Palo prospect. The presence of both IOCG and porphyry-style mineralisation strengthens the case for continued exploration in this underexplored yet highly prospective region.

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.