Solis Minerals targets southern magnetic anomaly at Ilo Este Project in Peru

Solis Minerals refocuses drilling on the southern magnetic anomaly within its Ilo Este copper-gold-molybdenum project in Peru, after assays confirm a large mineralised system.

Solis Minerals Ltd. (ASX: SLM) has announced a strategic shift in its diamond drilling campaign at the Ilo Este Project in southern Peru, redirecting efforts toward the southern magnetic anomaly after receiving the first assay results from ongoing drilling.

According to the company, drilling at Ilo Este is targeting coincident porphyry indicators such as high induced polarisation (IP) chargeability, strong geochemistry, and mapped alteration zones. Assay results from the southern magnetic anomaly are expected in November 2025.

The 5,000-metre diamond drilling program will continue testing key priority targets, following encouraging early results from holes IE-001 and IE-002, which revealed broad zones of elevated copper, gold, and molybdenum anomalism across multiple intervals—confirming the presence of a “large mineralised system.”

Solis, with a market capitalisation of A$11.57 million, reports disseminated and variably anomalous Cu-Au-Mo mineralisation along the entire length of both holes. Notable intersections include:

• 18m @ 0.09% Cu, 0.15 g/t Au, 7 ppm Mo from 50m
• 18m @ 0.11% Cu, 0.10 g/t Au, 22 ppm Mo from 102m

Managing Director Mitch Thomas noted that the identification of bornite in the second drillhole indicates the company is vectoring toward the higher-grade core of the porphyry system.

A follow-up drillhole is planned to test a higher-grade gold zone identified at surface and depth in historical hole IE-JDD-003, which previously intersected 84m at 0.24% Cu from surface.

Solis says that together, these results and the ongoing drilling program will help delineate the mineralised core of the system and refine targeting for future discoveries.

Located within southern Peru’s coastal belt, the Ilo Este Project is a copper porphyry system with associated gold, silver, and molybdenum mineralisation.

Solis Minerals Ltd. is a copper-focused junior explorer actively building a portfolio of high-potential South American assets, positioning itself to support the global energy transition through sustainable resource development.