Diamond drill rig arrives at Solis Minerals' Chancho al Palo to test key targets in Peru

Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) is set to begin drilling at its fully owned Chancho al Palo Project in southern Peru. The company has mobilised a diamond drill rig for a 2,500 metre drill program targeting multiple high-priority anomalies identified through surface mapping, sampling, and induced polarisation (IP) surveys.

Drilling will be supported by leading local contractor AKD International and is designed to follow up on fieldwork conducted over the past year, which outlined a corridor of mineralised intrusions associated with alteration and copper oxide mineralisation. 

Chancho al Palo drill targets over magnetic susceptibility plot. Targets include IP (1A and 1B) and magnetometry (M1 – M3) anomalies. Initial drill programme of 2,500 metres reflects a portion of the planned drill holes shown. Sequence and number of actual drill holes to be determined subject to programme results.

Geophysical work identified a large IP anomaly at depth, coinciding with mapped alteration and elevated copper from rock chip and soil samples.

Solis Minerals’ technical team believes these features are consistent with a buried copper porphyry system. Drilling will test for the depth extent of this potential system, with the initial holes planned across several IP chargeability highs and surface copper anomalies.

“The company is pleased to report that the drill rig has safely arrived at Chancho al Palo. This will be the first time the concession has been drilled, and we’re targeting a series of compelling porphyry and IOCG anomalies identified through geochemical and geophysical work,” CEO Mitch Thomas said.

“Importantly, Chancho al Palo is located 10 kilometres from the coast and 25 kilometres from Southern Copper’s smelter and refinery complex. Southern Copper is Peru’s largest copper producer and holds tenements adjacent to Chancho al Palo, further validating the geological potential of the area.

“We expect assay results in July 2025 and look forward to building on this momentum with drilling at Ilo Este, anticipated to commence in June pending final permits. I am travelling to Peru this weekend to oversee commencement of drilling at our Chancho al Palo and Ilo Este projects.

“It’s an exciting period as we systematically test high-priority targets across our Peruvian portfolio.”

Significant potential in southern Peru

The company views Chancho al Palo as a strategic part of its broader copper exploration portfolio in southern Peru, which also includes the Ilo Este and Cinto projects. The region is prospective for large-scale porphyry copper systems, and the company’s ground holdings are located near major producing mines.

Solis will use this program to establish a clearer understanding of the mineral potential at Chancho al Palo and guide further exploration efforts across its Peruvian assets.

Read more: Solis Minerals launches maiden drill campaign at Chancho al Palo copper-gold project in Peru