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Highlights
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Solis Minerals Ltd has staked the Canyon Project in Peru, encompassing 27 exploration concession applications over 25,600 hectares along the Coastal Copper Belt.
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The new project area is strategically located near porphyry copper occurrences and offers opportunities for cost-effective exploration and rapid production.
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The company continues to advance its other Peruvian projects, identifying new copper targets at Guaneros and achieving high-grade copper samples at the Cinto Project.
Overview
Solis Minerals Ltd (OTC:SLMFF) has expanded its exploration portfolio by staking the Canyon Project, which comprises 27 exploration concession applications covering a substantial area of 25,600 hectares along the Coastal Copper Belt in Peru. This new project area is situated approximately 675 kilometers northwest of the Ilo Este Project and lies within the Coastal Batholith, a significant intrusive trend that extends from the Ecuador border to the Chile border, featuring numerous porphyry copper occurrences.
Mike Parker, executive director of Solis Minerals, described the Canyon Project as a significant opportunity for the company to further its exploration efforts in an area renowned for its copper potential. He noted that the project area is bracketed by existing porphyry copper projects and is characterized by cross-faulting, which has been identified in previous exploration activities.
The relative lack of cover rocks in the region allows Solis to leverage geochemistry as a rapid and efficient exploration tool. This approach is expected to enhance the company's ability to identify promising follow-up areas for further investigation.
Parker emphasized that the acquisition and staking strategy of Solis Minerals is designed to be both focused and cost-effective, allowing the company to build a robust exploration pipeline. He highlighted that this new area provides an additional avenue for exploring near-surface heap-leachable copper oxide resources, which are typically associated with less expensive and faster-track copper production methods.
In addition to the Canyon Project, Solis Minerals is actively exploring its other projects in Peru. The company has recently outlined several new copper targets at the Guaneros Project and reported the collection of grab samples with copper grades as high as 7.14% from outcropping mineralization at the Cinto Project. This ongoing exploration underscores Solis Minerals' commitment to advancing its copper strategy and capitalizing on the rich geological potential of the region.
