Solis Minerals Initiates Drilling at Chancho al Palo Project in Peru

Solis Minerals has initiated drilling at its Chancho al Palo project in Peru, with a 7,500-meter diamond drill program set to begin soon. The company anticipates receiving drilling permits for Ilo Este shortly. The exploration is aimed at identifying large-scale copper-gold resources, leveraging high commodity prices to enhance shareholder value.

Solis Minerals Limited has announced the initiation of drilling at its Chancho al Palo copper-gold project in Peru following the receipt of necessary approvals. The planned diamond drilling campaign will cover 7,500 meters and is set to commence imminently. In addition, drilling permits for another site, Ilo Este, are anticipated within the following weeks, contributing to the Company’s aspirations for sustained exploration activity.

The drilling program will initially consist of around five drill holes totaling 2,500 meters, with the capacity for further expansion. This effort is part of the Company’s commitment to enhance its copper-gold resource identification and pursue mining opportunities in one of the world’s top copper production areas, supported by a recent capital raise of A$4.5 million.

The exploration targets benefit from proximity to essential infrastructure, with surface mineralization identified near the coast at Ilo Este. The region features several active mining companies, and the mineralization styles at the Chancho al Palo project include potential iron oxide copper-gold and porphyry systems, encouraging for further exploration.

Solis Minerals’ Chief Executive Officer, Mitch Thomas, highlighted the significance of this drilling phase as an exciting opportunity for growth. He reaffirmed the intention to generate substantial updates over the next few months as assay results are processed. The current high prices of copper and gold provide a favorable backdrop for these exploration efforts, which aim to maximize shareholder value.

In summary, Solis Minerals is set to commence a crucial drilling campaign at the Chancho al Palo project, with an expected further step at Ilo Este. This initiative is part of a broader strategy to identify significant copper-gold resources in Peru, taking advantage of favorable market conditions. The Company’s strong leadership and strategic positioning within a prominent mining region underpin its ambitions for growth in the mining sector.

Original Source: www.newsfilecorp.com