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Solis Expands Peruvian Copper Exploration Portfolio with Canyon Project
Newsfile Corp.
12 min read

In This Article:

HIGHLIGHTS

  • Large, new 25,600Ha project prospective for porphyry copper mineralisation

  • Canyon Project is located 675km NW of Ilo Este in Coastal Intrusive Belt

  • New project is bracketed along strike by porphyry Cu occurrences

  • Application made for 27 exploration concessions, providing low cost entry

  • Chancho al Palo drilling to commence by year end

West Leederville, Western Australia--(Newsfile Corp. - October 4, 2024) - Latin American focused copper-gold explorer, Solis Minerals Limited (ASX: SLM) ("Solis" or "the Company") is pleased to announce an update on exploration activities in Peru.

Solis has made applications for 27 exploration concessions, totalling 25,600Ha, in a contiguous block known as the Canyon Project. The target is copper porphyry mineralisation, principally oxides, situated on a NW-SE prospective trend with known porphyry occurrences just outside the application area, as well as reported exploration activities within the area itself.

The application area contains a belt of intrusive rocks known as the Coastal Batholith that stretches from the Ecuadorian border in the north to the Chilean border in the south along the coast of Peru (refer Figure 1).

Mike Parker, Executive Director of Solis, commented:

"This is a significant opportunity for Solis to continue exploring for copper in its area of expertise, the intrusive belts of the coast of Peru. This large prospective block is bracketed by porphyry copper projects along strike, which are localised by cross faulting.

In the application area, similar structures were identified in previous exploration, which will be the immediate area of focus. The relative lack of cover rocks will enable us to use geochemistry as a rapid and efficient tool to focus in on follow-up areas. Our focused staking strategy is the most cost-effective way of adding to our exploration pipeline.

In addition, we believe this area adds another element to our copper strategy in providing an opportunity to explore for near surface heap-leachable copper oxide resources* that offer relatively less expensive and easier fast-track copper production." (*refer JORC Tables).

These rocks, of Late Jurassic to Cretaceous age, host (from south to north) Solis' Ilo projects (Ilo Este, Guaneros, Chancho Al Palo) as well as important copper deposits of Tia Maria and Zafranal in Arequipa, the Almacen prospect 8km south-east of the applications, and the Los Pinos project 4km north-west, plus several other Cu projects and prospects (refer Figure 1). Additionally, the concessions are bound to the east by the operating Cerro Lindo VMS mine.

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