Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) (OTCQB: SLMFF) is gearing up for a significant exploration initiative at its Guaneros Project in Peru. The company has contracted a drone airborne magnetometry survey to advance its exploration efforts and identify promising zones for future drilling.
Key Highlights
– Survey Launch: The drone magnetometry survey is set to commence in early August, with results anticipated later in the month. This survey will help fast-track target generation and identify areas for further geophysical follow-up.
– Follow-up Surveys: Identified anomalies from the drone survey will be further investigated using ground-based Induced Polarisation (IP) surveys to refine drill target designs.
– Ongoing Geochemical Sampling: Geochemical sampling and mapping will continue at Guaneros to better understand the mineralization styles present and assist in targeting initial drill programs.
– Project Significance: Guaneros is the fourth project area in Southern Peru that Solis is progressing to drill status, focusing on copper porphyry targets along the prospective Coastal Belt between the Ilo Este and Chancho Al Palo drill targets.
Guaneros Project Overview
The Guaneros Project covers 6,400 hectares with applications for exploration licenses recently submitted under Peruvian mining regulations. Non-invasive activities such as geophysics, geochemistry, and mapping are permitted during this initial phase. The area, largely unexplored, lacks prior geochemical or geophysical data.
Situated along a promising coastal belt, Guaneros is positioned near significant geological features. The Ilo Este copper porphyry occurrence is 6km southeast, while the Chancho Al Palo prospect is 8km northwest. Solis’ geological mapping and structural analysis have identified major “Arc Oblique” structures intersecting “Arc Parallel” structures, which are crucial for porphyry deposit emplacement. This gives Guaneros compelling similarities to Ilo Este, making it a high-priority greenfields exploration area.
Drone Magnetic Survey Details
Solis has enlisted Real Eagle Exploraciones for approximately 500 line kilometers of airborne magnetics over the Guaneros project. The survey is expected to progress at 15-50km per day, aiming for completion in August. Once the data is processed, additional IP surveys will be planned where necessary, and drill permitting applications will be submitted if warranted.
Peru Project Pipeline
Solis is prioritizing drill planning and permitting across its Peruvian projects, including Ilo Este, Chancho Al Palo, Guaneros, and Cinto. Drilling at Chancho Al Palo is expected to begin later this year, subject to permitting, with subsequent projects commencing from 2025 onwards. The company is also expanding its portfolio by identifying new drill targets and reviewing copper and lithium opportunities throughout South America.
Executive Director Matthew Boyes expressed enthusiasm about the progress, stating, “We are gaining momentum in our exploration programs in Peru. The airborne magnetic surveys are instrumental in targeting our first drill holes at Guaneros. With continued IP and geochemical surveys, we aim to achieve similar target generation as seen with our Ilo Este and Chancho Al Palo targets.”
The upcoming drone survey at Guaneros is a key step in Solis Minerals’ strategic efforts to unlock the region’s potential and advance its exploration portfolio in Peru.
