Solis Minerals Ltd ( ASX:SLM , OTCQB:SLMFF ) is preparing to begin a 5,000-metre diamond drilling program at its Cucho Copper Project in Peru, targeting three priority zones across an expanding copper-molybdenum system.
The initial campaign will comprise around 10 holes, with 34 drill holes already permitted, giving Solis flexibility to expand the program if early results are encouraging.
Recent mapping, geochemical sampling and geophysical interpretation have extended the target area around 1 kilometre northeast of historical drilling and strengthened the company's interpretation of a potentially large, deeply rooted porphyry system.
Figure 1: Cucho exploration area – target zones indicated with historical drillhole collars and traces, planned drill holes and traces, copper surface geochemistry and IP chargeability.
: New work expands target area
Surface sampling returned copper values of up to 0.49%, 0.43% and 0.30%, together with molybdenum values reaching 0.63%.
Solis has also identified a phyllically altered monzonite intrusive centre measuring more than 950 metres by 450 metres, surrounded by more strongly copper-mineralised granodiorite.
The newly mapped intrusive and surrounding mineralisation coincide with magnetic and induced polarisation anomalies, helping define three priority drill areas.
These comprise the Southwestern Corridor, where copper-molybdenum-sulphur anomalism coincides with structures and chargeability; the Northern Stockwork, where mineralised quartz veining aligns with geophysical anomalies; and the Eastern Intrusive Target, defined by molybdenum anomalism, intrusive contacts and strong chargeability.
Chief executive officer Mitch Thomas said the new data had expanded the target area and strengthened the case for a larger porphyry system.
"The initial programme will test three distinct target zones across the existing mineralised corridor and newly defined intrusive targets," he said.
Historical drilling established broad mineralisation
Cucho was first drilled in 2014, when seven diamond holes totalling about 2,000 metres tested near-surface oxide copper mineralisation.
All seven holes intersected mineralisation, including 169.7 metres at 0.24% copper, 0.012% molybdenum and 1.0 g/t silver from surface and 269.1 metres at 0.25% copper, 0.011% molybdenum and 1.1 g/t silver from surface.
Historical drilling showed near-surface oxide mineralisation transitioning into primary chalcopyrite-molybdenite sulphides at depth.
Solis has the right to acquire up to 100% of Cucho under a joint venture.
Next steps
Diamond drilling is scheduled to commence during October, with the first phase focused on testing the three priority target zones.
The company will use geological observations and assay results to determine whether to extend the program beyond the initial 5,000 metres.
Solis is also continuing drilling at the Cinto Copper Project in Peru, while assays remain pending from Mandacaru and Campo Grande in Brazil.
