Solis Minerals has three large-scale copper exploration projects in Chile and Peru. The recently-acquired Mostazal Project in Chile has a drill-ready, multi-kilometre porphyry target to be drill-tested this year, underneath a high-grade mantos-style copper-silver historical resource. Solis also owns the Ilo Este and Ilo Norte projects in Peru’s southern coastal copper belt, prospective for porphyry and IOCG discoveries, with licences totalling 109 km2.
The acquisition of Mostazal was announced March 11, 2021 and 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 Chile’s 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 mineralisation at surface over an area of 15km2, and previous operators have estimated a historical Indicated Resource of copper and silver mantos-style mineralisation. Mostazal as a porphyry target exhibits classic IP high chargeability-magnetic low coincident anomalies, which are planned to be drill-tested this year.
In Peru, Solis owns 100% in two copper projects located in the southern coastal copper belt of Peru, home to a significant proportion of Peru’s copper production. Ilo Norte is an IOCG target, with secondary high-grade skarn mineralisation, located just north of Southern Peru Copper’s 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. The 32km2 licences have a 3km2 area of geochemical anomalies, with numerous target areas being assessed.