Solis Minerals Ltd. has received drilling permits for its Chancho al Palo copper-gold project in Peru, with a 7,500-meter diamond drilling campaign expected to commence soon. The Company plans to drill at both Chancho al Palo and Ilo Este simultaneously following approvals. Assays will be processed at a facility in Lima, and strong market conditions for copper and gold support Solis’s exploration goals.
Solis Minerals Ltd. has received the necessary approvals to initiate drilling at its copper-gold project, Chancho al Palo, located in southern Peru. This project is entirely owned by Solis, and the drilling campaign is set to begin shortly, with ambitious plans for a 7,500-meter diamond drilling exploration targeting copper-gold mineralization. In addition, drilling permits for another project, Ilo Este, are anticipated soon.
The drilling program at Chancho al Palo will initially involve approximately five drill holes totaling 2,500 meters. Upon receiving all relevant permits, the Company plans to conduct drilling at both Chancho al Palo and Ilo Este concurrently. This strategic move aligns with Solis Minerals’ goal of identifying significant copper-gold resources in a region known for its potential for large-scale mining.
The exploration site has shown promising mineralization on the surface, especially at Ilo Este, and is well-positioned with access to essential infrastructure necessary for mining operations. Elevations in this region are manageable, not exceeding 1,100 meters. Notably, several major international mining companies, including Southern Copper and Teck, are active or developing projects in the vicinity, highlighting the area’s robust mining activity.
Chief Executive Officer Mitch Thomas expressed enthusiasm regarding the commencement of drilling, stating it marks a pivotal phase for the Company. He mentioned the strong economic environment is favorable for exploration, as copper and gold prices approach record highs. This context positions Solis Minerals well to enhance shareholder value through its current initiatives.
The Chancho al Palo project consists of four contiguous concessions, with geophysical surveys revealing significant chargeability targets indicative of copper mineralization. The project area has potential for two distinct mineralization styles: iron oxide copper-gold (IOCG) systems in the west and porphyry-style mineralization in the east.
Looking ahead, drilling at Chancho al Palo is expected to commence shortly, facilitated by a reputable local drilling contractor, with assaying to be conducted at ALS Global’s laboratory in Lima, Peru. Alongside this development, the Company is finalizing permit approvals for a concurrent 5,000-meter drilling program at Ilo Este, expected by the end of April 2025, marking a significant advancement in its exploration efforts.
In conclusion, Solis Minerals Ltd. is poised to launch an extensive drilling campaign at its Chancho al Palo project in Peru, aiming to identify significant copper-gold resources. The Company has successfully secured permits and engaged a leading drilling contractor, with concurrent drilling planned for the Ilo Este project. Strong market conditions for copper and gold further enhance Solis’s potential for success in its exploration endeavors, contributing to shareholder value.
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