Solis Minerals Ltd. – a Latin American battery mineral-focused mining exploration company – has announced it has received confirmation of grants for a series of largely contiguous tenements totalling 3,200ha in the highly prospective southern Peruvian Copper belt, located some 15km to the southeast of the world class Toquepala Au/Ag/Cu/Mo Porphyry Mine. The new project will be called the Cinto Project.
The Company has completed the initial compilation of available geological and other data sets over the area, including the acquisition of new remote-sensing satellite data (comprising the Worldview-3 platform, amongst others) covering Cinto and Solis’ other Peruvian copper projects. Specialist consultant interpretation of this new satellite data has highlighted several priority zones of favourable alteration – particularly at Ilo Este- which has never been tested. Field geological teams will mobilise shortly to undertake detailed field checking, mapping and systematic sampling of the highlighted alteration anomalies in preparation for drill testing. Detailed Worldview-3 data has been acquired over Cinto and is being processed.
CEO Jason Cubitt commented: “This is an exciting development for Solis shareholders as the Cinto Project offers an opportunity to be the first exploration company to use modern exploration techniques on a staked area, located near one of Peru’s largest copper producers, Toquepala mine. With the same major structural controls, and similar rock type and age to Toquepala (57 Ma – 57 million years), we intend to advance this project to a drill-ready stage and offer Solis shareholders exposure to another world-class target in Peru’s Southwest copper belt. The Company remains fully funded for this year’s field season.”
The northern permits are underlain by igneous rocks of the Cretaceous Toquepala Group and the late Cretaceous-early Tertiary batholith related to the Toquepala porphyry mine some 15km to the northwest.
The regional Incapuquio fault crosses the permits and the underlying igneous rocks are covered by recent sediments, generally south of the fault and increasing in thickness to the southwest.
Several zones of hydrothermal alteration in the concessions are noted in published geological maps. The Company has recently acquired Worldview-3 satellite imagery to assist in rapid delineation of priority areas which will be followed up with geological mapping and rock sampling. The satellite data is currently being processed. Potential drill target identification would initiate permit applications for first-pass drill programs.