Solis Minerals (ASX:SLM) has commenced a 7,500m diamond drilling program targeting copper-gold deposits at its Chancho Al Palo Project in southern Peru. The program will involve five drillholes, with the possibility of expansion based on initial results. Assaying will be conducted by ALS Global in Lima, Peru. Following the completion of drilling at Chancho Al Palo, Solis plans to initiate a 5,000m drilling program at the Ilo Este Project, pending final approvals expected by the end of the month.
According to CEO Mitch Thomas, these programs mark the beginning of a growth phase for Solis Minerals. The company’s objective is to discover copper-gold resources capable of supporting large-scale mining operations within a prominent copper-producing region. The Chancho Al Palo Project, situated within the Southern Coastal Belt of Peru, exhibits two primary mineralisation styles, making it prospective for IOCG and porphyry-style mineralisation. With copper prices nearing US$10,000 per tonne and gold exceeding US$3,000 per ounce, Solis believes the timing is ideal for exploration, aiming to capitalize on the favorable market conditions to potentially uncover significant mineral resources.
