Solis Minerals (ASX: SLM) has announced a binding agreement to acquire up to a 75% interest in the Cucho Copper Project in Peru, with an option to acquire 100% subject to shareholder approval. Solis Minerals is an emerging exploration company focused on unlocking the potential of its South American copper portfolio. The Cucho project represents a large-scale, partially outcropping copper-molybdenum-silver porphyry system with existing infrastructure access, located 44 kilometres from the Pacific coast.
The Cucho Copper Project is complementary to Solis Minerals’ existing Peruvian assets and features historical drilling data and untested drill targets. Historical exploration includes 2,000 metres of diamond drilling which confirms significant copper mineralisation from surface, encompassing both oxide and primary sulphide copper. Previous drilling encountered significant mineralisation with grades consistent with operating mines across the Andean copper belt, including intercepts such as 169.7 metres @ 0.24% Cu, 0.012% Mo and 1.0 g/t Ag from surface (COP14-01) and 175.4 metres @ 0.28% Cu, 0.012% Mo and 1.3 g/t Ag from surface (COP14-06).
The acquisition will occur through a staged earn-in process with low upfront cash payments and no minimum spend requirements. Solis Minerals believes the Cucho Copper Project has the potential to host a globally significant copper deposit and intends to rapidly advance the Project through exploration. The company plans to drill untested geochemical and geophysical anomalies in early 2026.
CEO Mitch Thomas commented that Cucho is a rare opportunity to acquire a large-scale, well-located, advanced copper exploration project in Peru, with clear potential for a major resource. He added that the project fits perfectly into Solis Minerals’ strategy of building a portfolio of Tier-1 copper-gold projects.
