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Solis Minerals Ltd (ASX:SLM)

ALERT: Price-sensitive ASX Announcement for SLM
Current share price for SLM : $0.036 -0.003 (-7.69%)+
Announcement
Release
20 Oct 2026 9:02AM
Price at Release
$0.039
Full Release
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Summary
Solis Minerals Ltd announced that diamond drilling is scheduled to commence in October 2026 at its Cucho Copper Project in Peru, where the company has rights to acquire up to 100% under a joint venture, with an initial programme of about 10 diamond holes for 5,000 metres targeting three zones defined by geological mapping, surface geochemistry, magnetics and induced polarisation data. The announcement states that historical work outlined a 3 x 1.8 kilometre mineralised footprint and 2014 scout drilling of seven holes for about 2,000 metres intersected broad near-surface oxide and deeper sulphide copper-molybdenum-silver mineralisation, including long intercepts such as 169.7m at 0.24% Cu, 178.7m at 0.23% Cu, 175.4m at 0.28% Cu and 269.1m at 0.25% Cu with associated molybdenum and silver. New 2026 mapping and more than 90 rock-chip samples collected mainly northeast of the historical drilling expanded the target area by about 1,000 metres and confirmed a large Cu-Mo-Ag porphyry-style system, identifying a variably phyllically altered monzonite intrusive centre exceeding 950 x 450 metres and mineralised granodiorite around it, with notable surface results including 0.49% Cu, 0.43% Cu, 0.30% Cu and up to 0.63% Mo. The company interprets the integrated datasets as supporting a potentially large, deeply rooted copper-molybdenum porphyry system and notes that 34 drill holes have been permitted, allowing flexibility to scale up the programme depending on results.
Key Points
  • Drilling is planned to commence in October 2026 at the Cucho Copper Project in Peru.
  • The initial programme comprises about 10 diamond drill holes for 5,000 metres.
  • Solis Minerals has the right to acquire up to 100% of Cucho under a joint venture.
  • Historical drilling in 2014 comprised seven holes for about 2,000 metres and all holes intersected material copper mineralisation.
  • Key historical intercepts included 169.7m at 0.24% Cu, 178.7m at 0.23% Cu, 175.4m at 0.28% Cu and 269.1m at 0.25% Cu with associated molybdenum and silver.
  • New geological mapping and geochemical sampling confirmed mineralisation about 1,000 metres northeast of the historical drilling area.
  • Surface rock-chip sampling returned strong anomalous results including 0.49% Cu, 0.43% Cu and 0.30% Cu, with molybdenum values up to 0.63% Mo.
  • A variably phyllically altered monzonite intrusive centre exceeding 950 x 450 metres was identified, flanked by more strongly mineralised granodiorite.
  • Magnetic and induced polarisation data, together with surface geochemistry, defined three drill target zones: Southwestern corridor, Northern stockwork and Eastern intrusive target.
  • The company interprets Cucho as a potentially large, deeply rooted Cu-Mo porphyry system.
  • A total of 34 drill holes have been permitted, providing flexibility to expand the programme if results are encouraging.
  • Cucho is located in Peru near the coast and about 40 kilometres from Element 29 Resources’ Elida project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.