Solis Minerals announces significant copper mineralization at Ilo Este Project in Peru

Discover the latest on Solis Minerals' Ilo Este project in Peru. Read how the company's first drill hole has intersected extensive copper and molybdenum mineralization, signaling a major discovery.

Solis Minerals (ASX:SLM) has announced that its first drill hole at the Ilo Este project in southern Peru has intersected significant copper mineralization. The drill hole, completed to a depth of 482.10 meters, showed approximately 350 meters of mineralized intersections from the surface. The company's visual analysis confirmed the presence of both copper and molybdenum.

This discovery is part of an ongoing 5,000-meter diamond drill program designed to explore for high-grade copper-gold deposits. According to Solis Minerals, the drilling targets magnetic and induced polarization (IP) anomalies that are believed to contain higher-grade mineralization.

Key findings from the first drill hole

• Four mineralized zones were identified, with copper oxides and sulfides observed from the surface to a depth of 406.3 meters.
• The drill hole intersected a series of intrusive rocks, including granular microdiorites and porphyritic quartz diorites.
• An interesting stockwork zone with multiple generations of quartz veining was found from 177.5 to 266.3 meters.
• Alteration generally increased downhole, with intense potassic alteration observed from 177.5 to 461.5 meters.
• The presence of disseminated magnetite from 383 to 424.20 meters supports the "Northern Magnetic Anomaly".

Solis Minerals CEO Mitch Thomas expressed excitement about the findings, stating, "We have encountered mineralisation across long intercepts of approximately 350 metres". He added that while lab assays will confirm the grades, the visual results and geology are very encouraging.

The company cautions that the visual estimates of mineral abundance should not be considered a substitute for laboratory analysis, as they do not provide information on the final grade or any impurities. The laboratory assays are being processed by ALS Global and are expected to be available in September 2025.

A second drill hole has already started approximately 200 meters south-southwest of the first drill pad, targeting another northern magnetic anomaly.