• Solis Minerals (SLMN) starts drilling at Mostazal Copper Project in Chile
  • The company has recently raised a total of AUS$5.5 million through the issue of 27,500,000 Chess Depository Interests at A$0.20
  • With over AUS$7.0 million cash at bank, is fully funded to undertake this highly anticipated maiden drilling program
  • The initial phase of drilling will comprise four holes for an estimated 2,000 metres of drilling and will initially target both porphyry and manto-style copper mineralisation
  • Solis has planned three additional holes as part of its Phase I drilling campaign to test this compelling IP geophysical target
  • Solis Minerals (SLMN) is trading at C$0.20 at 3:01 pm EST as of January 20

Solis Minerals (SLMN) has started diamond drilling operations at its Mostazal Copper Project in Chile.

Solis has recently raised a total of AUS$5.5 million through the issue of 27,500,000 Chess Depository Interests at A$0.20.

With over AUS$7.0 million cash at the bank, Solis is fully funded to undertake this highly anticipated maiden drilling program at the Mostazal Copper Project.

CEO Jason Cubitt commented,

“We are very pleased to be on the ground and drilling at our flagship Mostazal Copper Project in Chile. Our initial diamond drill holes are targeting near-surface high-grade manto style copper mineralization, as well as the interpreted feeder system (porphyry) structures at depth.”

“To be up and running so soon after listing reflects the hard work by our Chilean-based team. We will continue to keep the market informed of our progress, as we put our first holes into this highly prospective project,” added Cubitt.

The Mostazal property is located 80 kilometres (kms) northeast of Copiapo, Chile and within the Domeyko fault – a major structural control for some of the world’s largest and most productive copper mines.

The initial phase of drilling will comprise four holes for an estimated 2,000 metres of drilling and will initially target both porphyry and manto-style copper mineralization as well as the interpreted feeder system (porphyry) structures at depth.

Site preparations commenced in late December, with the mobilization of earthmoving equipment and the construction of suitable drilling platforms and access tracks where required. All planned drill sites have been established, ready for drilling the Phase I and Phase II campaigns.

Field crews and drilling equipment mobilized earlier last week to set up the program’s first hole, which will target a series of near-surface manto-style copper mineralization “lenses” defined by historic diamond drilling.

The central target is characterized by a series of known stacked manto copper lenses where historical, relatively shallow drilling to a depth of approximately 150 metres, has encountered wide zones of high-grade copper mineralization.

The proposed drilling is planned to penetrate through these lenses to confirm the existing mineralization models and test for additional stacked manto lenses at depth.

As well as testing the near-surface copper manto mineralization, it intends to undertake the first-ever drill testing of the interpreted porphyry feeder system at depth.

Recent independent geophysical modelling of existing Induced Polarization survey data has highlighted a strong chargeability anomaly extending for over 1.6 km along strike down dip to the west of the surface copper mineralization. 

Following the completion of MODD001, Solis has planned three additional holes as part of its Phase I drilling campaign to test this compelling IP geophysical target.

Solis Minerals is a Latin American-focused mining exploration company.

It is earning into a 100 per cent interest in the Mostazal Copper Project in Chile’s Atacama Desert, one of the world’s premier copper production jurisdictions.

Solis Minerals (SLMN) is trading at C$0.20 at 3:01 pm EST as of January 20.

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