Solis Minerals Ltd. will start its 7,500-meter drilling at the Chancho al Palo project in Peru, following the acquisition of necessary permits. The drilling initiative aims to uncover copper-gold resources in a leading mining area, with parallel efforts expected at Ilo Este. Industry conditions are favorable, prompting heightened exploration activity throughout 2025.
Solis Minerals Limited has announced the commencement of drilling at its Chancho al Palo copper-gold project in Peru. The company, which holds 100% ownership of the project, has received the necessary approvals for a 7,500-meter diamond drilling campaign targeting copper-gold deposits. Drilling is expected to begin shortly, with additional permits for the Ilo Este project anticipated in the coming weeks.
The initial drilling phase will involve approximately five drill holes totaling 2,500 meters. This activity aligns with the company’s recent financing of A$4.5 million, and Solis Minerals plans to conduct simultaneous drilling at both Chancho al Palo and Ilo Este upon the finalization of all requisite approvals. This dual-drilling approach aims to deliver significant news flow throughout 2025 as assay results are obtained.
Solis Minerals’ exploration activities are strategically situated in a region known for significant copper production, alongside operations from major mining firms like Southern Copper and Anglo American. The company delineates two primary mineralization styles within Chancho al Palo: iron oxide copper-gold (IOCG) and porphyry-style systems.
Mitch Thomas, Chief Executive Officer of Solis Minerals, expressed enthusiasm about the drilling schedule, indicating, “Drilling commencement at Chancho al Palo marks the start of an exciting phase of growth for the Company.” He acknowledged the favorable market conditions with rising copper and gold prices, emphasizing the company’s goal to enhance shareholder value through these exploration initiatives.
Moving forward, drilling at Chancho al Palo is expected to proceed imminently, while drilling permits for Ilo Este are nearing completion and should be secured soon. This expected concurrent drilling will be a vital step in achieving Solis Minerals’ mission of identifying substantial copper-gold resources within this globally recognized mineral-rich area.
In summary, Solis Minerals is poised to initiate an extensive drilling program at its Chancho al Palo project in Peru, bolstered by favorable market conditions for copper and gold. With strategic exploration and dual-drilling efforts planned at Chancho al Palo and Ilo Este, the company aims to bolster its resource identification and enhance shareholder value. As drilling commences, significant updates are anticipated throughout 2025.
Original Source: www.newsfilecorp.com
