Solis Minerals Limited is set to begin drilling at its Chancho al Palo project in Peru, with a 7,500-meter campaign aimed at uncovering copper-gold resources. Drilling permits for the Ilo Este project are anticipated soon. The drilling activities follow the receipt of permits and a recent funding placement of A$4.5 million to enhance exploration efforts in the region, which is recognized for its potential for large-scale mining.
Solis Minerals Limited has announced the initiation of drilling operations at its Chancho al Palo copper-gold project in southern Peru, following the receipt of necessary permits. The company will employ a leading Peruvian drilling contractor to conduct a 7,500-meter diamond drilling campaign focused on targeted copper-gold formations, expected to commence imminently. In parallel, drilling permits for the Company’s Ilo Este site are anticipated in the near future, contributing to ongoing exploration activities throughout 2025.
The initial drilling program at Chancho al Palo includes approximately five exploratory drill holes, totaling 2,500 meters, with potential for expansion. This drilling effort aligns with the Company’s objective of identifying valuable copper-gold resources in one of the world’s premier copper production areas, leveraging a recent capital placement of A$4.5 million to support these initiatives.
The project locations are strategically positioned near coastal infrastructure and demonstrate promising surface mineralization characteristics, notably at Ilo Este. The region is home to prominent international mining operations, with both IOCG and porphyry-style mineralization being identified. The project’s prospects are bolstered by thorough geophysical surveys that reveal significant chargeability targets.
Mitch Thomas, Chief Executive Officer of Solis Minerals, expressed optimism about the commencement of drilling, stating that this marks a significant growth phase for the Company. He reiterated the potential for large-scale mining in the targeted areas, with the current favorable market conditions for copper and gold enhancing the Company’s prospects for exploration and value creation.
Drilling is set to begin shortly at Chancho al Palo, utilizing a reputable local drilling firm, while assaying will be performed by ALS Global in Lima, Peru. The Company is finalizing permitting processes for a concurrent 5,000-meter drilling program at Ilo Este, with approvals expected soon, further advancing Solis Minerals’ exploration agenda.
In conclusion, Solis Minerals Limited is poised to commence a strategic drilling campaign at Chancho al Palo, reinforcing its commitment to developing substantial copper-gold resources in southern Peru. The combination of established infrastructure, promising mineral targets, and favorable market conditions sets the stage for a productive exploration phase in 2025. The concurrent drilling initiatives at Chancho al Palo and Ilo Este are expected to generate significant news flow and stakeholder interest as results are announced.
Original Source: www.newsfilecorp.com
