Solis Minerals Ltd (ASX:SLM)
Solis Minerals Ltd (ASX:SLM) has three large-scale copper exploration projects in Chile and Peru.
Mostazal consists of 16km2 of exploitation licences in the Atacama region of Chile, 80 km northeast of Copiapo. Mostazal is situated within the 500-kilometre-long, north-south-trending Domeyko fault system, the major structural control for the majority of Chiles largest copper mines, including Escondida (BHP, Rio Tinto), Chuquicamata and the El Salvador mine (Codelco). The El Salvador mine is 42 km away from Mostazal, at the same longitude and elevation, with similar lithology and Upper Eocene age. The porphyry target at Mostazal lies under significant copper mineralization at surface over an area of 15km2, and previous operators have estimated a historical Indicated resource of copper and silver mantos-style mineralization. Mostazal as a porphyry target exhibits classic IP high chargeability-magnetic low coincident anomalies.
Ilo Norte and Ilo Este, Peru
In Peru, Solis owns 100% in two copper projects located in the southern coastal copper belt of Peru, home to a significant proportion of Perus copper production. Ilo Norte is an IOCG target, with secondary high-grade skarn mineralization, located just north of Southern Peru Coppers Ilo Copper smelter and refinery. The 77km2 land package hosts a 10 kilometre-long alteration system, only partially tested by historical drilling. Ilo Este is a large eroded copper porphyry system with gold, silver and molybdenum.