Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) is preparing to drill-test what it describes as a “compelling porphyry copper target”, identified through a combination of historical drilling data, site geology and induced polarisation (IP) survey data at the Ilo Este Project in Peru.
The large, high magnitude chargeability anomaly is in contact with a previously identified magnetic anomaly, offering a highly prospective drill target zone for further investigation.
Drilling to begin next year
“Ilo Este is shaping up to be a compelling porphyry copper target with the successful identification by our team in Peru of an extremely prospective high chargeability anomaly located in close proximity to the previously identified large magnetic anomaly,” Solis Minerals executive director Matthew Boyes said.
“The drill program planning has already commenced to allow us to test these anomalies with drilling next year.
“A semi-detailed environmental impact study will now be undertaken to select drill sites to test these exciting targets.
“Historical drilling returned highly anomalous values for copper and gold but clearly missed the highest priority target areas generated in this newly acquired IP data combined with reprocessed magnetic data.
“Surface mapping and reconnaissance programs are ongoing on all our Peruvian land package. A continuous process of project evaluation is underway with a view to growing our already large, quality exploration portfolio.”
Solis says the drill site selection and drill permitting process at Ilo Este is already underway – the company expects this process to take up to 12 months to reach final approval and drilling.