Solis Minerals Ltd. (“Solis” or the “Company) is pleased to provide descriptions of five main target areas at its Mostazal project in Chile’s Atacama Desert. The property is located within the Domeyko Fault—the main structural control for some of the world’s largest and most productive copper mines including Chuquicamata and Escondida—and 40 kilometres south of Codelco’s El Salvador Mine.*
As previously reported, the purpose of the upcoming drill program is to locate the feeder or source of copper, silver and gold mineralization encountered at surface over an area of ten square kilometres. An exploitation license currently covers the entire target area and the company has filed for a drilling permit related to this season’s planned activity. A drill contractor has been retained and the company is in the process of securing additional field crews.
Five Targets Areas: (see figure 1 at bottom)
- West Main Target – located immediately west of the mantos, characterized by the presence of a magnetic low and chargeability high.
- Southwest Target – located on the southwest edge of the claim block, with coincident geochemical and geophysical magnetic and chargeability anomaly.
- East Target – located due East of the mantos mineralization where surface rock sampling outlined a molybdenum anomaly coincident with a magnetic high and chargeability high.
- Central Target – located immediately beneath the mantos, vectored by higher chalcocite (a higher copper grade mineral) coincident with a magnetic high.
- North Target – mainly defined by the regional structural setting (NS and EW crossing lineaments) and the occurrence of massive primary chalcocite and high-grade gold (up to 13 g/t) and magnetic high.
The first phase of drilling at the West Main Target, comprising 2,500 metres of core drilling in four holes, will test the centre of a classic porphyry “high chargeability”, “low magnetic” geophysical anomaly. The drill target is a North South trending anomaly at a depth of approximately 300 metres, roughly 300 metres wide by 1.6 kilometres long.
Jason Cubitt, Solis’ President and CEO states, “We expect to encounter the source of copper mineralization beginning at a depth of 300 metres – 100 metres deeper than prior drilling and immediately adjacent to the area of recent exploitation. This will be the first ever testing of a ‘feeder’ target and what we believe represents a very large and intact copper porphyry system.”
As part of this season’s work program, the company will also undertake preliminary reconnaissance work on the 26 square kilometres applied for and contiguous to the original Mostazal claim boundary (see news release dated June 24th 2021).
FIGURE 1: MOSTAZAL TARGET AREAS
FIGURE 2: TARGET LOCATIONS
Derrick Strickland, P. Geo. (1000315), is a qualified person and has reviewed and approved the technical content of this news release. * The qualified person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the company property.
About Solis Minerals
Solis Minerals is a Latin American focused mining exploration company. The Company holds a 100% interest in a package of highly prospective IOCG and porphyry copper projects in southwestern Peru within the country’s prolific coastal copper belt-source of nearly half of Peru’s copper production. The Company is also earning into a 100% interest in the Mostazal copper project in Chile’s Atacama Desert, one of the world’s premier copper production jurisdictions.
FOR FURTHER INFORMATION CONTACT:
President and Chief Executive Officer
Solis Minerals Ltd.
Telephone: (877) 586-3840
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Forward-Looking StatementsThis news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.