- Solis Minerals (SLM) intersects copper sulphides over 250 metres wide in its deepest diamond hole to date at the Mostazal Copper Project in Chile
- Drilling of the third, 528-metre deep hole is complete, and logging has confirmed the presence of widespread alteration and disseminated copper sulphide mineralisation throughout every hole
- Assay results from samples are expected in March while drilling has commenced in the fourth hole where existing surface geochemistry has highlighted a large high-tenor copper-in-soil anomaly
- Solis also plans to conduct induced polarisation and magnetotellurics geophysical surveys down to a 500-metre depth or more to better assist in the hunt for the main feeder system
- Shares in SLM were trading up 4 per cent at 26 cents
Solis Minerals (SLM) has intersected copper sulphides over 250 metres wide in its deepest diamond hole to date at the Mostazal Copper Project in Chile.
Drilling of the third, 528-metre-deep hole is complete, and logging has confirmed the presence of widespread alteration and disseminated copper sulphide mineralisation throughout every hole completed so far.
The drill holes were designed to test the near-surface manto-style mineralisation encountered in historical drilling.
The first diamond hole intersected a 362-metre copper mineralised zone from surface, while the second hole intersected a copper mineralised zone 444 metres in thickness.
In the third hole, the field team logged pyrite, chalcopyrite, bornite and chalcocite sulphides occurring as amygdales, disseminations, fracture fillings, or in veinlets.
Solis Chief Executive Officer Jason Cubitt said drilling at Mostazal is progressing very well.
“We are working to understand the significance of the over 250-metre sulphide zone in MODD003 and, while we have not yet seen the typical alteration system that we would expect to see associated with our original porphyry target, we are extremely encouraged by the significant size of the mineralisation system we have intersected,” said Mr Cubitt.
“The addition of detailed downhole geophysical data together with the assay results from sampling of this core will be required to better understand the extent of the mineralised system at Mostazal.”
Detailed logging is underway and assay results from samples are expected in March.
The drill rig has moved onto the last planned hole in the initial phase of drilling, located to the east of the company’s previous holes where existing surface geochemistry has highlighted a large high-tenor copper-in-soil anomaly.
Solis also plans to conduct induced polarisation and magnetotellurics geophysical surveys down to a 500-metre depth or more to better assist in the hunt for the main feeder system.
The company is earning into a 100 per cent interest in the Mostazal Copper Project, which is in Chile’s Atacama Desert, one of the world’s premier copper production jurisdictions.
Shares in Solis were trading up 4 per cent at 26 cents at 11:04am AEDT.