Solis Minerals (ASX:SLM) has commenced diamond drilling at its Chancho al Palo project in Peru, targeting a series of porphyry and iron-oxide-copper-gold anomalies. The program, managed by AKD International, will test anomalies identified through surface mapping, sampling, and geophysics across 2,500 meters of landholding. Assay results are anticipated in July 2025.
According to CEO Mitch Thomas, Chancho al Palo’s location, just 10km from the coast and 25km from Southern Copper’s smelter and refinery, is strategically significant. Southern Copper, Peru’s largest copper producer, holds adjacent tenements, further validating the geological potential. Solis Minerals, with a market capitalization of $15.51 million, is also awaiting final permits to begin drilling at its Ilo Este Project, situated 20km from Chancho al Palo. The company anticipates commencing drilling at both sites imminently, marking a key phase in testing high-priority targets across its 65,100-hectare Peruvian copper portfolio.
