Latest news with #IOCG
Cision Canada
26-05-2025
- Business
- Cision Canada
Golden Arrow Appoints New President & CEO
TSX Venture Exchange (TSX-V): GRG Frankfurt Stock Exchange (FSE): G6A OTCQB Venture Market (OTCQB): GARWF VANCOUVER, BC, May 26, 2025 /CNW/ - Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), (" Golden Arrow" or the " Company") is pleased to announce the appointment of Nikolaos Cacos as President & CEO of the Company. Joseph Grosso, who is stepping down from those roles, will continue to serve as a director and Chairman of the Board. Mr. Cacos commented, "I am grateful to Joe for entrusting this role to me. His pioneering vision and entrepreneurial acumen has spearheaded Golden Arrow's many successes, including the discovery and monetizing of our Gualcamayo royalty; the discovery, development and sale of the Chinchillas silver-lead-zinc deposit; the growth of a portfolio of highly prospective properties in Argentina; and, most recently, a new deposit discovery at the Company's San Pietro IOCG project in Chile. He has built a cohesive team in three countries, and we all look forward to his continued guidance in his role as Chairman as we work to carry-on Golden Arrow's success." Previously, as Vice President, Corporate Development and a Director for Golden Arrow, Mr. Cacos has played an integral role in the management and development of the Company. Mr. Cacos has held senior level executive roles in all of the Grosso Group companies since the group's inception in 1993. His work has been essential in seeing those companies through major milestones, including recent transactions with international conglomerates Stellantis N.V. and Corporación América Group. Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 hectares of prospective properties in Argentina. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. ON BEHALF OF THE BOARD "Joseph Grosso" _______________________________ Mr. Joseph Grosso, Executive Chairman, President and CEO Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. SOURCE Golden Arrow Resources Corporation
Globe and Mail
20-02-2025
- Business
- Globe and Mail
Solis Announces New Copper-Gold Porphyry and IOCG Targets Confirmed at Chocolate Project, Peru
Sample grades of 4.92% copper and 2.47g/t gold HIGHLIGHTS Rock geochemical assays from magnetic drone survey data 1 reveal two copper porphyry and two vein-hosted iron oxide copper gold ("IOCG") targets at Chocolate 2. Highlight geochemical assays from rock samples include: Porphyry Target 1: 0.71% Cu and 0.60g/t Au (sample 17423) IOCG Target 1: 4.92% Cu and 2.47 g/t Au (sample 17397) Porphyry Target 2: 1.92% Cu and 0.03 g/t Au (sample 17402) IOCG Target 2: 2.78% Cu and 0.21 g/t Au (sample17410) All rock samples taken and assayed by ALS Global laboratories in Lima, Peru. Further geophysics and geochemistry surveys will be undertaken to refine and prioritise drill targets. Priority projects, Ilo Este and Chancho al Palo, have advanced, with a drilling permit already granted by Peru's Ministry of Energy and Mines ("MINEM") for Chancho al Palo. The remaining approvals required to commence drilling are expected imminently. Perth, Western Australia--(Newsfile Corp. - February 19, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) ("Solis" or the "Company"), a Latin American-focused copper-gold explorer, is pleased to provide an update on exploration activities at the Chocolate Project in southern Peru (Figure 1). Executive Director, Mike Parker, commented: "As our exploration teams continue investigating the extensive land package at Chocolate, we are discovering increasing evidence of mineralisation exposed at surface, with geophysical data indicating the potential for large mineral systems. Surface copper and gold grades, including IOCG sample 17397 (4.92% Cu and 2.47 g/t Au), highlight the exciting exploration potential as we refine our plans for further work at Chocolate. Even at this early exploration stage, we believe that Chocolate's position between Ilo Este and Chancho Al Palo, along the same geological trend, is already enhancing the prospectivity of our Coastal Belt target zone. We will continue systematic exploration to identify drill targets and expand our highly prospective pipeline of drilling opportunities in the area." Figure 1: Porphyry Coastal Belt of Peru in the Ilo region of Moquegua showing Solis' exploration project areas including Chocolate, Ilo Este, and Chancho Al Palo. Values for Tia Maria and Cuajone sourced from Southern Copper ( To view an enhanced version of this graphic, please visit: Summary Geochemical assays from reconnaissance rock sampling and processing of a 2024 magnetometer drone geophysical survey have revealed four exploration targets to date - two with copper porphyry style signatures, and two with vein-hosted IOCG style signatures (Figure 3). Only 10% of the project area has been investigated to date and mapping and systematic sampling is continuing, guided by the magnetometry anomalies. The geology at Chocolate is similar to the geology at Solis' neighbouring projects of Ilo Este and Chancho Al Palo which, with Chocolate, form a "mega-target" zone of 20km length which is predominately controlled by Solis (Figure 2). A western granodiorite coastal batholith is in contact with the Chocolate Formation, which forms a prospective belt for porphyry and IOCG mineralisation (see Figure 1). Additionally, and similar to Ilo Este, another granodiorite batholith is in the east of the area and is prospective, being the area of Porphyry Target 2 described in this release. Prominent cross faults, recognised as favourable loci for copper and gold mineralisation, also traverse the area aiding targeting and exploration strategy. Interpretation of magnetometry data has revealed significant zones of magnetic anomalies with associated interpreted alteration haloes. Results to date show a relationship between rock geochemistry and magnetic anomalies for the two porphyry targets identified (Figure 5). The whole Central Magnetic anomaly, parts of the Eastern Magnetic anomaly, and a large part of the alteration zones are highly prospective and have yet to be tested. Associated copper and gold values in the porphyry areas are similar to Ilo Este, 7km south-east along strike, which supports the characteristics of the mega-target zone. As mapping and geochemistry advance, the more prospective anomalies are being evaluated for follow up with Induced Polarisation ("IP") geophysical surveys leading to drill testing in late 2025. Figure 2: 20km mega-target zone showing Chocolate bracketed between drill-ready targets at Chancho Al Palo and Ilo Este. Similar structures across the project areas, including arc-oblique structures (cross faults). To view an enhanced version of this graphic, please visit: Figure 3: Chocolate Project exploration licences showing Cu rock geochemistry, magnetic susceptibility anomaly high from MVI, and district geology of the granodiorites. Two copper-gold porphyry target zones (white circles) and two IOCG target zones (yellow circles) have been identified by rock geochemistry to date. To view an enhanced version of this graphic, please visit: Figure 4: Sample 17397, easting 264520, northing 8065874, quartz vein zone with specularite, CuOx - malachite and chalcopyrite. Cu 4.92%, Au 2,47 g/t To view an enhanced version of this graphic, please visit: Chocolate Project The Chocolate Project consists of seven exploration concessions totalling 6,100Ha (six concessions granted of 5,700Ha and one concession in application of 400Ha) situated on the prospective Coastal Belt of southern Peru between drill targets of Ilo Este and Chancho Al Palo (Figure 3). The ground was staked in May 2024, and Solis' exploration teams rapidly initiated reconnaissance mapping and geochemistry surveys. A magnetometer drone geophysical survey was carried out in August 2024, and data collected was processed using Magnetic Vector Inversion ("MVI") techniques. This is a method used to directly model the vector of magnetization based on anomalous Total Field Magnetic Intensity data. The method allows the modelling optimization process to orient the direction of magnetization to best fit the observed data. It is now a primary tool in exploration targeting and is particularly useful where cover rocks exist. In porphyry exploration, the development of the magnetic mineral magnetite associated with potassic alteration is a useful vector to identify prospective areas. Conversely, the absence of magnetite can be due to alteration processes associated with porphyry systems and magnetic lows are useful targeting areas. Remanent magnetism is produced by magnetic minerals locked in rocks by alteration processes and in certain instances is a useful tool to assess alteration haloes around, in this case, intrusive rocks. To date, 151 rock samples have been taken and assayed at ALS Global laboratories in Lima, Peru. Four results from these samples have been previously released 3. Full results are presented in Table 1 of Appendix 1. The rock geochemistry exploration program has covered an area of approximately 600Ha, or 10% of the Chocolate Project (Figure 3). It is estimated that approximately 4,500Ha or 75% of the Project area is free of blanket cover by recent (Quaternary) sediments and is suitable for geochemistry surveys 4. Rock Geochemistry Anomalies Four target areas have been identified (Figure 3). The assay results for each target area are displayed in the tables below, along with a summary of the geology. In Tables 1-4 following, CuOx refers to copper oxide minerals, usually malachite and azurite. Specularite is a form of iron oxide commonly found in IOCG environments. Volcaniclastic unit descriptor refers to a package of undifferentiated units associated with extrusive rocks. Where units are clearer they are identified, ie, tuff. Porphyry Target 1 This area consists of locally outcropping volcaniclastic rocks of the Chocolate Formation with zones of tourmaline breccias and hornfels developed in structures. The breccias have been observed with Cu oxides and associated Au enrichment and are considered to be emanating from a deeper or more lateral mineralisation (to north). 112 samples were taken of which nine have values >500ppm Cu (Table 1). Structures with associated geochemical anomalies occur sporadically over a circular area of approximately 750m diameter (Figure 3). North and east of the area is covered by Quaternary sediments. Much of the area is blanketed by a barren tuff unit. The area is interpreted as indicative of the margin of porphyry-style mineralisation, with the main zone of interest being to the northeast, under cover and away from the granodiorite batholith in the south and west. Table 1: Geochemical sample assays reporting >500ppm Cu in Porphyry Target 1, Chocolate Project. For the complete sample locations and assay details from Porphyry Target 1, refer to Appendix 1. IOCG Target 1 This zone is characterised by the presence of patches and veins of specularite-hematite, some associated with Cu and Au, in epidote altered volcaniclastic rocks. 12 samples were taken of which 4 have values >0.1% Cu (Table 2 and Figure 4). The zone, of dimensions 700m N-S and 500m E-W, is only partially exposed and appears to lie just north of a cross-fault. It is considered to be marginal to porphyry-type mineralisation, and largely structurally controlled. Table 2: Geochemical sample assays reporting >0.1% Cu in IOCG Target 1, Chocolate Project. Zone Sample No. Easting Northing Elevation m Description Au ppm Cu % IOCG Target 1 17397 264520 8065874 1309 Quartz vein zone, specularite and chalcopyrite 2.470 4.92 17399 264769 8065628 1246 Quartz vein with CuOx 0.041 0.24 17472 264674 8065339 1259 Crystal tuf with chalcopyrite disseminations 0.003 0.20 17396 264518 8065875 1310 Quartz veining 0.228 0.11 17395 264513 8065899 1312 Crystal tuf with chalcopyrite and CuOx 0.136 0.08 17401 264926 8065712 1279 Fine-grained tuff CuOx 0.005 0.08 17432 264858 8065368 1208 Specularite and hematite quartz vein 0.3m 0.026 0.07 17474 264648 8065362 1260 Hornfels, CuOx in fractures 0.013 0.06 17411 264728 8065680 1267 Specularite vein, quartz in patches 0.099 0.03 17475 264841 8065273 1198 Specularite and hematite vein 0.5m 0.003 0.01 17473 264673 8065352 1261 Specularite and hematite vein 0.5m 0.006 0.01 17398 264699 8065709 1267 Quartz veining 0.007 0.01 For the complete sample locations and assay details from IOCG Target 1, refer to Appendix 1. Porphyry Target 2 The zone is characterized by porphyry-style alteration and lithologies in an area partially covered by recent sediments. 21 samples were taken of which 9 have values >0.1% Cu (Table 3 and Figure 3). Altered carbonates from the regional volcaniclastic Chocolate Formation are present with anomalous Cu and Au values. Some anomalous intrusives are present within a hornfels halo. The area lies west of, or partially on, the Jurassic granodiorite batholith in a favourable geological position similar to that seen at Ilo Este. Zone dimensions are 1.75 km N-S and 1.0 km E-W based on the anomalies from reconnaissance sampling. Table 3: Geochemical sample assays reporting >0.1%. Cu in Porphyry Target 2, Chocolate Project. Zone Sample No. Easting Northing Elevation (m) Description Au ppm Cu % Porphyry Target 2 17402 267255 8063882 934 Chloritised tuff, CuOx fractures 0.030 1.92 17436 267788 8063113 761 Microdiorite with CuOx fractures 0.060 1.26 17486 267231 8062023 533 Altered carbonate with CuOx diss and fractures 0.409 1.03 17485 267246 8062028 532 Altered carbonate with CuOx diss and fractures 0.229 0.81 17435 267125 8063074 1033 Chloritised tuff, CuOx fractures 0.005 0.25 17477 266622 8062899 940 Hornfels with CuOx fractures 0.050 0.18 17404 267481 8063789 810 Stockwork CuOx veins in intrusive(?) 0.038 0.16 17403 267503 8063784 809 Hornfels with CuOx fractures 0.011 0.12 17405 267586 8063782 761 Hornfels with CuOx structures 0.068 0.12 For the complete sample locations and assay details from Porphyry Target 2, refer to Appendix 1 IOCG Target 2 The zone is 350m long and consists of a narrow series of steeply- dipping specularite-quartz veins, 0.4-1.5m wide, cutting volcaniclastic rocks of the Chocolate Formation. Little wallrock or zonal alteration was observed. 6 samples were taken of which 5 have values >0.1% Cu (Table 4). It is located on the southern margin of Porphyry Target 2 (Figure 2). Table 4: Geochemical sample assays reporting >0.1% Cu in IOCG Target 2, Chocolate Project. Zone Sample No. Easting Northing Elevation m Description Au ppm Cu % IOCG Target 2 17410 265689 8060980 1030 Quartz vein with specularite, CuOx 0.211 2.78 17406 265611 8060852 1027 Quartz vein with specularite, CuOx 40cm wide 0.049 2.29 17481 265718 8061149 1016 Quartz vein with specularite, CuOx 0.657 0.29 17408 265677 8060941 1021 Quartz vein with specularite, CuOx 150cm wide 0.205 0.23 17407 265654 8060931 1023 Quartz vein with specularite, CuOx 70cm wide 0.080 0.11 17409 265677 8060941 1021 Quartz vein with specularite, CuOx 0.365 0.05 For the complete sample locations and assay details from IOCG Target 2, refer to Appendix 1 MVI Results and Relationship with Rock Geochemistry Results of the MVI and geochemistry combined (Figure 5) show a distinct relationship between porphyry targets and magnetic susceptibility highs. In Porphyry Target 1, the main geochemistry anomalies are north of the magnetic high (Southern Mag anomaly) in an area that has a weak remanent magnetic response. As mapped on the ground, hornfels associated with faulting carries some copper oxide and gold mineralisation and may be reflecting part of the remanent response. Tourmaline breccias are observed that support the presence of intrusives being emplaced in the area. It is known that a magnetic low is formed in this area between the Southern and Central Mag anomalies and this will be a focus of exploration going forward despite the limitations imposed by some barren tuff cover rocks and encroaching recent sediments. Follow-up mapping and sampling will continue at this target to define future IP surveys where feasible (less cover) and drill targets. Figure 5: Susceptibility magnetic anomalies (Mag Anomalies - yellow) and remanent magnetic anomalies (Alteration Anomalies - blue) in relation to rock geochemistry targets. To view an enhanced version of this graphic, please visit: In Porphyry Target 2, the relationship between the magnetic susceptibility high (Eastern Mag anomaly) and the geochemistry is better represented due to better exposure. Geochemical anomalies generally surround the zone where the mag high surfaces. Some mineralised intrusive rocks and stockwork were observed indicating the porphyry nature of the anomalies. It should be noted that the Eastern Mag anomaly appears to be constrained by faulting on its western margin, and probably on its south-eastern margin with an associated alteration zone. The relationship between faulting and mineralisation is considered important in the area as evidenced at Ilo Este. Follow-up mapping and sampling will continue at this target to define future IP surveys and drill targets. IOCG Target 1 is associated with minor magnetic anomalies. In the area, these zones are typically constrained to structures. There is a susceptibility anomaly (Northern Mag anomaly) close to this target, and an alteration zone on strike 1km to the north. Both these areas will be investigated. IOCG Target 2 is situated in a zone 2km south of Porphyry Target 2 and the Eastern Mag anomaly. It is considered that these mineralised veins may be lateral expressions of associated porphyry mineralisation to the north. They are situated in a zone of deep remanent magnetism that may be reflecting alteration from the intrusives. Given the higher-grade nature of the results, this area will be investigated for vein swarms or other potential increases in size. It is important to note that the Central Mag anomaly, the largest anomaly of dimensions 5km x 1km, and its associated remanent mag zone to the south remain un-investigated, as does the western margin of the Eastern Mag anomaly. These areas will be investigated as a priority to establish the amount of outcrop and sampling possible. ENDS This announcement is authorised by Mike Parker, Executive Director of Solis Minerals Ltd. Contact Mike Parker Executive Director Solis Minerals Limited +61 8 6117 4795 Media & Broker Enquiries: Fiona Marshall & Jason Mack White Noise Communications fiona@ jason@ +61 400 512 109 Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release. About Solis Minerals Limited Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal Belt of Peru and currently holds 81 exploration concessions for a total of 69,200Ha (46 concessions granted with 35 applications in process). The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region. Forward-Looking Statements This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made 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, labour 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 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. Qualified Person Statement The technical information in this news release was reviewed by Michael Parker, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101). Michael Parker is Executive Director of the Company. Competent Person Statement The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Michael Parker, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Parker is Executive Director of Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the exploration activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves". Mr Parker consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Parker has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement. APPENDIX 1 Table 5: Geochemical sample assays from Chocolate Project. SAMPLE ID Easting Northing Point Rl Au ppm Cu ppm Cu % 17199 262118 8060621 1107 0.03 458 0.05 17200 262095 8060396 1133 0.03 624 0.06 17379 263436 8061496 1114 0.03 13 0.00 17380 263437 8061523 1116 0.03 9 0.00 17381 7 262100 8060641 1107 0.11 1435 0.14 17382 8 262120 8060419 1132 0.17 3700 0.37 17383 264087 8059013 1073 TBC 187 0.02 17389 265116 8059171 1003 0.01 22 0.00 17395 264513 8065899 1312 0.14 839 0.08 17396 264518 8065875 1310 0.23 1065 0.11 17397 264520 8065874 1309 2.47 49200 4.92 17398 264699 8065709 1267 0.01 64 0.01 17399 264769 8065628 1246 0.04 2430 0.24 17401 264926 8065712 1279 0.01 806 0.08 17402 267255 8063882 934 0.03 19200 1.92 17403 267503 8063784 809 0.01 1175 0.12 17404 267481 8063789 810 0.04 1565 0.16 17405 267586 8063782 761 0.07 1170 0.12 17406 265611 8060852 1027 0.05 22900 2.29 17407 265654 8060931 1023 0.08 1140 0.11 17408 265677 8060941 1021 0.21 2270 0.23 17409 265677 8060941 1021 0.37 464 0.05 17410 265689 8060980 1030 0.21 27800 2.78 17411 264728 8065680 1267 0.10 294 0.03 17418 261117 8059489 1041 0.01 5 0.00 17419 262110 8060341 1120 0.00 222 0.02 17420 262185 8060169 1102 0.00 193 0.02 17422 262208 8060116 1097 0.01 240 0.02 17423 262280 8059995 1112 0.60 7060 0.71 17424 262368 8059805 1092 0.00 23 0.00 17425 262288 8059784 1076 0.00 35 0.00 17426 262211 8059701 1071 0.01 152 0.02 17427 262655 8059723 1108 0.00 8 0.00 17428 262155 8059873 1127 0.04 17 0.00 17429 262160 8059898 1116 0.00 9 0.00 17430 262156 8059895 1119 0.01 3 0.00 17431 262151 8059895 1116 0.01 6 0.00 17432 264858 8065368 1208 0.03 699 0.07 17433 267403 8063619 850 0.01 229 0.02 17434 265726 8064417 1153 0.00 4 0.00 17435 267125 8063074 1033 0.01 2500 0.25 17436 267788 8063113 761 0.06 12550 1.26 17437 262395 8060201 1102 0.00 133 0.01 17438 262096 8059429 1081 0.00 122 0.01 17439 262060 8059557 1067 0.01 38 0.00 17441 262037 8059587 1077 0.12 7 0.00 17442 262014 8059639 1069 0.02 333 0.03 17443 261980 8059710 1088 0.02 51 0.01 17444 261940 8059806 1099 0.01 17 0.00 17445 261881 8059902 1099 0.00 19 0.00 17446 261832 8059978 1113 0.01 37 0.00 17447 261806 8060082 1114 0.00 19 0.00 17448 261745 8060175 1112 0.00 414 0.04 17449 261707 8060251 1119 0.01 4 0.00 17450 261063 8059952 1084 0.01 35 0.00 17451 262036 8059847 1092 0.01 15 0.00 17452 262073 8059759 1082 0.01 15 0.00 17453 262100 8059685 1090 0.01 77 0.01 17454 262145 8059569 1090 0.00 46 0.00 17455 262283 8059574 1072 0.06 15 0.00 17456 262238 8059648 1074 0.12 6 0.00 17457 262150 8059810 1085 0.01 104 0.01 17458 262112 8059900 1088 0.03 5 0.00 17459 262061 8059995 1092 0.00 60 0.01 17460 262012 8060301 1106 0.01 179 0.02 17462 261970 8060389 1116 0.01 642 0.06 17463 262105 8060146 1110 0.00 10 0.00 17464 262136 8060031 1112 0.00 38 0.00 17465 262202 8059947 1113 0.01 27 0.00 17466 262243 8059864 1083 0.05 4 0.00 17467 262301 8059762 1081 0.01 28 0.00 17468 262326 8059711 1084 0.15 13 0.00 17469 262339 8059670 1085 0.00 5 0.00 17470 262366 8059598 1085 0.02 2 0.00 17471 262451 8059639 1092 0.00 6 0.00 17472 264674 8065339 1259 0.00 2040 0.20 17473 264673 8065352 1261 0.01 86 0.01 17474 264648 8065362 1260 0.01 618 0.06 17475 264841 8065273 1198 0.00 128 0.01 17476 266772 8063225 1101 0.00 462 0.05 17477 266622 8062899 940 0.05 1825 0.18 17478 266732 8062363 725 0.04 771 0.08 17479 267840 8062167 635 0.03 362 0.04 17481 265718 8061149 1016 0.66 2930 0.29 17482 265533 8061719 829 0.00 71 0.01 17483 266345 8062137 668 0.01 285 0.03 17484 267131 8062020 521 0.00 172 0.02 17485 267246 8062028 532 0.23 8120 0.81 17486 267231 8062023 533 0.41 10300 1.03 17487 267226 8062222 619 0.02 579 0.06 17488 267225 8062236 626 0.00 286 0.03 17489 262218 8059405 1077 0.01 7 0.00 17490 262692 8059092 1057 0.01 676 0.07 17491 262411 8059731 1101 0.01 16 0.00 17492 262349 8059900 1098 0.01 9 0.00 17493 262253 8060079 1099 0.00 55 0.01 17494 262162 8060265 1128 0.01 68 0.01 17495 262058 8060434 1087 0.01 22 0.00 17496 262079 8060670 1107 0.34 354 0.04 17497 262149 8060462 1097 0.01 3 0.00 17498 262190 8060397 1115 0.01 35 0.00 17499 262253 8060293 1107 0.01 114 0.01 17500 262302 8060198 1098 0.01 14 0.00 17502 262341 8060129 1099 0.01 17 0.00 17503 262372 8060040 1105 0.01 8 0.00 17504 262429 8059946 1109 0.04 12 0.00 17505 262468 8059851 1114 0.00 95 0.01 17506 262501 8059773 1106 0.00 4 0.00 17507 262568 8059686 1120 0.00 9 0.00 17508 262605 8059824 1116 0.01 7 0.00 17509 262555 8059902 1121 0.00 15 0.00 17510 262504 8060006 1118 0.01 10 0.00 17511 262468 8060078 1117 0.01 22 0.00 17512 262453 8060304 1097 0.01 21 0.00 17513 262497 8060221 1103 0.01 36 0.00 17514 262610 8060041 1111 0.01 11 0.00 17515 262620 8059948 1121 0.00 7 0.00 17516 262702 8059854 1117 0.00 9 0.00 17517 262744 8059773 1123 0.00 19 0.00 17518 262831 8059817 1129 0.00 10 0.00 17519 261658 8059446 1072 0.00 6 0.00 17521 261577 8059616 1074 0.00 6 0.00 17522 261484 8059812 1105 0.01 14 0.00 17523 261412 8059979 1084 0.01 10 0.00 17524 261281 8060192 1103 0.01 759 0.08 17525 261263 8060206 1110 0.00 155 0.02 17526 261109 8060054 1097 0.01 21 0.00 17527 261208 8059858 1074 0.01 77 0.01 17528 261433 8059784 1098 0.02 3 0.00 17529 261369 8059697 1089 0.01 73 0.01 17530 261373 8059543 1074 0.01 22 0.00 17531 261496 8059345 1056 0.01 16 0.00 17532 261558 8059162 1044 0.01 5 0.00 17533 261948 8059366 1095 0.00 4 0.00 17534 261572 8060087 1108 0.00 32 0.00 17535 261638 8059860 1119 0.03 137 0.01 17536 261638 8059860 1119 0.01 1365 0.14 17537 261743 8059739 1109 0.01 590 0.06 17538 261824 8059554 1073 0.01 17 0.00 17539 260916 8060015 1110 0.01 72 0.01 17540 261159 8059604 1066 0.01 6 0.00 17542 261236 8059441 1063 0.01 35 0.00 17543 261377 8059122 1043 0.00 19 0.00 17544 260989 8059540 1066 0.01 2 0.00 17545 260959 8059558 1968 0.01 2 0.00 17546 261129 8059179 1067 0.01 73 0.01 17547 260490 8060671 1136 0.00 448 0.04 17548 260476 8060665 1138 0.01 25 0.00 17549 260497 8060606 1131 0.01 626 0.06 17550 260860 8059715 1095 0.01 167 0.02 17551 261233 8059018 1066 0.01 7 0.00 APPENDIX 2 JORC Code, 2012 Edition - Table 1 Criteria JORC Code explanation Commentary Sampling techniques Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. 151 rock chip and grab samples were collected in 2024 from outcrops on an approximately 10% of the Chocolate Project area. Coordinate position and assay results of each sample are shown in Appendix 1 and in Tables 1 to 4 in the text of this ASX release. The samples are considered to be as representative as possible of the exposure, albeit by their nature, chip and grab samples do not reflect the overall grade of mineralisation encountered. Samples were representatively hand-cobbed to approximately 2.5kg mass for lab submission. Drilling techniques Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc). No historic or new drilling has been reported in this announcement Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. No drilling reported herein Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. No drilling is reported in this announcement. Rock chip and grab samples were logged and rock type lithologies, oxidation and quantities of, and types of, mineralisation noted. Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representativity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. Rock chip and grab samples taken were considered to be of appropriate size and representativity to ascertain if copper and or precious metal mineralisation is present at the outcrops. Field duplicates were prepared across a range of samples and reported excellent correlation. The sample procedure and preparation is considered appropriate for the nature of the base metal mineralisation tested and its distribution throughout the sample. Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. All rock chips and grab samples were assayed by ALS in Lima. Methods used were total assay of sample: Preparation PREP31 Analysis Au-AA23 and ME-ICP61 Cu OG-62 for overlimit Cu >1% Pb OG-62 for overlimit Pb >1% Zn OG-62 for overlimit Zn >1% Ag OG-62 for overlimit Ag >100ppm OREAS standards, blanks, and field duplicates were inserted at appropriate intervals and reported within required ranges. Verification of Sampling and assaying The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. All Solis data is verified by the Competent Person including site visits to the Chocolate Project. All data is stored in an electronic database and sample rejects are stored in company warehouses. Competent Person and an alternative company director have visited the site during sampling and observed sampling techniques and quality control. Location of data points Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. All sample locations were captured using a handheld GPS in WGS84 19S. Rock and chip samples are points. Data spacing and distribution Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. No set sample spacing or pattern has been applied due to the preliminary nature of the sampling programme. Exposures of mineralisation or outcrop were tested where found and not on a regular pattern. The distribution of the mineralisation allows commentary on potential scope of mineralisation but does not imply continuity. Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. No bias has been introduced in current sampling. Sample security The measures taken to ensure sample security. All samples are bagged onsite under supervision of Solis staff, all bags are then sealed and couriered to the relevant laboratories with all relevant submission documentation. All samples once received are logged into the lab and notice of each sample received is sent and cross checked with sample dispatch. Audits or reviews The results of any audits or reviews of sampling techniques and data. There have been no detailed external audits or reviews undertaken. Solis has conducted an internal technical review and site visit by the Competent Person.. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section) Criteria JORC Code explanation Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. The Chocolate Project is 100% Solis Minerals owned. 5,700Ha of 6,100 Ha tenements have been granted. The remaining 400Ha is expected to be granted in due course. There are no communities in the area. There are no known archaeological or other sensitive sites. Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. The Chocolate property has had no known systematic exploration carried out by previous owners. No known records of previous drilling exist in the mining ministry. Geology Deposit type, geological setting and style of mineralisation. The area is known for the occurrence of porphyry Cu deposits. Particularly Tia Maria and Zafranal projects some 70-100km to north of Chocolate. Ilo Este, 7km SE, is an advanced exploration project with established porphyry Cu mineralisation. Ilo Este has characteristics of geology considered similar to Chocolate. Drill hole Information A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole hole length If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. No drillhole data is reported in this release Criteria JORC Code explanation Commentary Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. Rock samples for geochemical analysis are considered point samples with no implication of lateral or depth continuity. Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known'). Rock samples have no mineralisation width apart from vein widths generally noted in the tables in this ASX release. Vein widths do not imply volume or continuity. Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. The Company has included various maps and figures showing the location of sampled outcrop. GPS coordinates of rock and chip samples are provided in Appendix 1 and subsets in Tables 1-4. Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced avoiding misleading reporting of Exploration Results. Assay results for Au and Cu are presented in total for work related to this release. Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. The Chocolate area was substantially covered by a drone magnetometry survey in August 2024 undertaken by Real Eagle of Peru. A reprocessing of this data using Magnetic Vector Inversion techniques was carried out by Fathom Geophysics of the USA. MVI is a method used to directly model the vector of magnetization based on anomalous Total Field Magnetic Intensity data. The method allows the modelling optimization process to orient the direction of magnetization to best fit the observed data. Outputs of MVI are used to model subsurface geology using magnetic susceptibility and remanent magnetism. Further work The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. IP surveys are being evaluated for the anomalous areas. Untested areas will be mapped and sampled, if appropriate. Further IP surveys may be planned. All programs are designed to delineate drill targeting. ________________________ 1 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. 2 Previously referred to as the Guaneros Project. 3 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. 4 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. 5 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. 6 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. 7 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. 8 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. To view the source version of this press release, please visit
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19-02-2025
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Solis Announces New Copper-Gold Porphyry and IOCG Targets Confirmed at Chocolate Project, Peru
Sample grades of 4.92% copper and 2.47g/t gold HIGHLIGHTS Rock geochemical assays from magnetic drone survey data1 reveal two copper porphyry and two vein-hosted iron oxide copper gold ("IOCG") targets at Chocolate2. Highlight geochemical assays from rock samples include: Porphyry Target 1: 0.71% Cu and 0.60g/t Au (sample 17423) IOCG Target 1: 4.92% Cu and 2.47 g/t Au (sample 17397) Porphyry Target 2: 1.92% Cu and 0.03 g/t Au (sample 17402) IOCG Target 2: 2.78% Cu and 0.21 g/t Au (sample17410) All rock samples taken and assayed by ALS Global laboratories in Lima, Peru. Further geophysics and geochemistry surveys will be undertaken to refine and prioritise drill targets. Priority projects, Ilo Este and Chancho al Palo, have advanced, with a drilling permit already granted by Peru's Ministry of Energy and Mines ("MINEM") for Chancho al Palo. The remaining approvals required to commence drilling are expected imminently. Perth, Western Australia--(Newsfile Corp. - February 19, 2025) - Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) ("Solis" or the "Company"), a Latin American-focused copper-gold explorer, is pleased to provide an update on exploration activities at the Chocolate Project in southern Peru (Figure 1). Executive Director, Mike Parker, commented: "As our exploration teams continue investigating the extensive land package at Chocolate, we are discovering increasing evidence of mineralisation exposed at surface, with geophysical data indicating the potential for large mineral systems. Surface copper and gold grades, including IOCG sample 17397 (4.92% Cu and 2.47 g/t Au), highlight the exciting exploration potential as we refine our plans for further work at Chocolate. Even at this early exploration stage, we believe that Chocolate's position between Ilo Este and Chancho Al Palo, along the same geological trend, is already enhancing the prospectivity of our Coastal Belt target zone. We will continue systematic exploration to identify drill targets and expand our highly prospective pipeline of drilling opportunities in the area." Figure 1: Porphyry Coastal Belt of Peru in the Ilo region of Moquegua showing Solis' exploration project areas including Chocolate, Ilo Este, and Chancho Al Palo. Values for Tia Maria and Cuajone sourced from Southern Copper ( To view an enhanced version of this graphic, please visit: Summary Geochemical assays from reconnaissance rock sampling and processing of a 2024 magnetometer drone geophysical survey have revealed four exploration targets to date - two with copper porphyry style signatures, and two with vein-hosted IOCG style signatures (Figure 3). Only 10% of the project area has been investigated to date and mapping and systematic sampling is continuing, guided by the magnetometry anomalies. The geology at Chocolate is similar to the geology at Solis' neighbouring projects of Ilo Este and Chancho Al Palo which, with Chocolate, form a "mega-target" zone of 20km length which is predominately controlled by Solis (Figure 2). A western granodiorite coastal batholith is in contact with the Chocolate Formation, which forms a prospective belt for porphyry and IOCG mineralisation (see Figure 1). Additionally, and similar to Ilo Este, another granodiorite batholith is in the east of the area and is prospective, being the area of Porphyry Target 2 described in this release. Prominent cross faults, recognised as favourable loci for copper and gold mineralisation, also traverse the area aiding targeting and exploration strategy. Interpretation of magnetometry data has revealed significant zones of magnetic anomalies with associated interpreted alteration haloes. Results to date show a relationship between rock geochemistry and magnetic anomalies for the two porphyry targets identified (Figure 5). The whole Central Magnetic anomaly, parts of the Eastern Magnetic anomaly, and a large part of the alteration zones are highly prospective and have yet to be tested. Associated copper and gold values in the porphyry areas are similar to Ilo Este, 7km south-east along strike, which supports the characteristics of the mega-target zone. As mapping and geochemistry advance, the more prospective anomalies are being evaluated for follow up with Induced Polarisation ("IP") geophysical surveys leading to drill testing in late 2025. Figure 2: 20km mega-target zone showing Chocolate bracketed between drill-ready targets at Chancho Al Palo and Ilo Este. Similar structures across the project areas, including arc-oblique structures (cross faults). To view an enhanced version of this graphic, please visit: Figure 3: Chocolate Project exploration licences showing Cu rock geochemistry, magnetic susceptibility anomaly high from MVI, and district geology of the granodiorites. Two copper-gold porphyry target zones (white circles) and two IOCG target zones (yellow circles) have been identified by rock geochemistry to date. To view an enhanced version of this graphic, please visit: Figure 4: Sample 17397, easting 264520, northing 8065874, quartz vein zone with specularite, CuOx - malachite and chalcopyrite. Cu 4.92%, Au 2,47 g/t To view an enhanced version of this graphic, please visit: Chocolate Project The Chocolate Project consists of seven exploration concessions totalling 6,100Ha (six concessions granted of 5,700Ha and one concession in application of 400Ha) situated on the prospective Coastal Belt of southern Peru between drill targets of Ilo Este and Chancho Al Palo (Figure 3). The ground was staked in May 2024, and Solis' exploration teams rapidly initiated reconnaissance mapping and geochemistry surveys. A magnetometer drone geophysical survey was carried out in August 2024, and data collected was processed using Magnetic Vector Inversion ("MVI") techniques. This is a method used to directly model the vector of magnetization based on anomalous Total Field Magnetic Intensity data. The method allows the modelling optimization process to orient the direction of magnetization to best fit the observed data. It is now a primary tool in exploration targeting and is particularly useful where cover rocks exist. In porphyry exploration, the development of the magnetic mineral magnetite associated with potassic alteration is a useful vector to identify prospective areas. Conversely, the absence of magnetite can be due to alteration processes associated with porphyry systems and magnetic lows are useful targeting areas. Remanent magnetism is produced by magnetic minerals locked in rocks by alteration processes and in certain instances is a useful tool to assess alteration haloes around, in this case, intrusive rocks. To date, 151 rock samples have been taken and assayed at ALS Global laboratories in Lima, Peru. Four results from these samples have been previously released3. Full results are presented in Table 1 of Appendix 1. The rock geochemistry exploration program has covered an area of approximately 600Ha, or 10% of the Chocolate Project (Figure 3). It is estimated that approximately 4,500Ha or 75% of the Project area is free of blanket cover by recent (Quaternary) sediments and is suitable for geochemistry surveys4. Rock Geochemistry Anomalies Four target areas have been identified (Figure 3). Porphyry Target 1 IOCG Target 1 Porphyry Target 2 IOCG Target 2 The assay results for each target area are displayed in the tables below, along with a summary of the geology. In Tables 1-4 following, CuOx refers to copper oxide minerals, usually malachite and azurite. Specularite is a form of iron oxide commonly found in IOCG environments. Volcaniclastic unit descriptor refers to a package of undifferentiated units associated with extrusive rocks. Where units are clearer they are identified, ie, tuff. Porphyry Target 1 This area consists of locally outcropping volcaniclastic rocks of the Chocolate Formation with zones of tourmaline breccias and hornfels developed in structures. The breccias have been observed with Cu oxides and associated Au enrichment and are considered to be emanating from a deeper or more lateral mineralisation (to north). 112 samples were taken of which nine have values >500ppm Cu (Table 1). Structures with associated geochemical anomalies occur sporadically over a circular area of approximately 750m diameter (Figure 3). North and east of the area is covered by Quaternary sediments. Much of the area is blanketed by a barren tuff unit. The area is interpreted as indicative of the margin of porphyry-style mineralisation, with the main zone of interest being to the northeast, under cover and away from the granodiorite batholith in the south and west. Table 1: Geochemical sample assays reporting >500ppm Cu in Porphyry Target 1, Chocolate Project. Zone Sample No. Easting Northing Elevation m Description Au ppm Cu % Porphyry Target 1 17423 262280 8059995 1112 Volcaniclastics with CuOx in fractures 0.602 0.71 173825 262120 8060419 1132 Hornfels with potassic alteration CuOx 0.166 0.37 173816 262100 8060641 1107 Tourmaline breccia in hornfels 0.112 0.14 17536 261638 8059860 1119 Brecciated volcaniclastic CuOx 0.011 0.14 17524 261281 8060192 1103 CuOx in brecciated volcaniclastics 0.010 0.08 17490 262692 8059092 1057 Tuff, CuOx in fractures 0.013 0.07 17462 261970 8060389 1116 Sandstone, CuOx in quartz fractures 0.005 0.06 17549 260497 8060606 1131 Sandstone, CuOx in quartz fractures 0.005 0.06 17200 262095 8060396 1133 Volcanisclastics, silicification CuOx 0.025 0.06 For the complete sample locations and assay details from Porphyry Target 1, refer to Appendix 1. IOCG Target 1 This zone is characterised by the presence of patches and veins of specularite-hematite, some associated with Cu and Au, in epidote altered volcaniclastic rocks. 12 samples were taken of which 4 have values >0.1% Cu (Table 2 and Figure 4). The zone, of dimensions 700m N-S and 500m E-W, is only partially exposed and appears to lie just north of a cross-fault. It is considered to be marginal to porphyry-type mineralisation, and largely structurally controlled. Table 2: Geochemical sample assays reporting >0.1% Cu in IOCG Target 1, Chocolate Project. Zone Sample No. Easting Northing Elevation m Description Au ppm Cu % IOCG Target 1 17397 264520 8065874 1309 Quartz vein zone, specularite and chalcopyrite 2.470 4.92 17399 264769 8065628 1246 Quartz vein with CuOx 0.041 0.24 17472 264674 8065339 1259 Crystal tuf with chalcopyrite disseminations 0.003 0.20 17396 264518 8065875 1310 Quartz veining 0.228 0.11 17395 264513 8065899 1312 Crystal tuf with chalcopyrite and CuOx 0.136 0.08 17401 264926 8065712 1279 Fine-grained tuff CuOx 0.005 0.08 17432 264858 8065368 1208 Specularite and hematite quartz vein 0.3m 0.026 0.07 17474 264648 8065362 1260 Hornfels, CuOx in fractures 0.013 0.06 17411 264728 8065680 1267 Specularite vein, quartz in patches 0.099 0.03 17475 264841 8065273 1198 Specularite and hematite vein 0.5m 0.003 0.01 17473 264673 8065352 1261 Specularite and hematite vein 0.5m 0.006 0.01 17398 264699 8065709 1267 Quartz veining 0.007 0.01 For the complete sample locations and assay details from IOCG Target 1, refer to Appendix 1. Porphyry Target 2 The zone is characterized by porphyry-style alteration and lithologies in an area partially covered by recent sediments. 21 samples were taken of which 9 have values >0.1% Cu (Table 3 and Figure 3). Altered carbonates from the regional volcaniclastic Chocolate Formation are present with anomalous Cu and Au values. Some anomalous intrusives are present within a hornfels halo. The area lies west of, or partially on, the Jurassic granodiorite batholith in a favourable geological position similar to that seen at Ilo Este. Zone dimensions are 1.75 km N-S and 1.0 km E-W based on the anomalies from reconnaissance sampling. Table 3: Geochemical sample assays reporting >0.1%. Cu in Porphyry Target 2, Chocolate Project. Zone Sample No. Easting Northing Elevation (m) Description Au ppm Cu % Porphyry Target 2 17402 267255 8063882 934 Chloritised tuff, CuOx fractures 0.030 1.92 17436 267788 8063113 761 Microdiorite with CuOx fractures 0.060 1.26 17486 267231 8062023 533 Altered carbonate with CuOx diss and fractures 0.409 1.03 17485 267246 8062028 532 Altered carbonate with CuOx diss and fractures 0.229 0.81 17435 267125 8063074 1033 Chloritised tuff, CuOx fractures 0.005 0.25 17477 266622 8062899 940 Hornfels with CuOx fractures 0.050 0.18 17404 267481 8063789 810 Stockwork CuOx veins in intrusive(?) 0.038 0.16 17403 267503 8063784 809 Hornfels with CuOx fractures 0.011 0.12 17405 267586 8063782 761 Hornfels with CuOx structures 0.068 0.12 For the complete sample locations and assay details from Porphyry Target 2, refer to Appendix 1 IOCG Target 2 The zone is 350m long and consists of a narrow series of steeply- dipping specularite-quartz veins, 0.4-1.5m wide, cutting volcaniclastic rocks of the Chocolate Formation. Little wallrock or zonal alteration was observed. 6 samples were taken of which 5 have values >0.1% Cu (Table 4). It is located on the southern margin of Porphyry Target 2 (Figure 2). Table 4: Geochemical sample assays reporting >0.1% Cu in IOCG Target 2, Chocolate Project. Zone Sample No. Easting Northing Elevation m Description Au ppm Cu % IOCG Target 2 17410 265689 8060980 1030 Quartz vein with specularite, CuOx 0.211 2.78 17406 265611 8060852 1027 Quartz vein with specularite, CuOx 40cm wide 0.049 2.29 17481 265718 8061149 1016 Quartz vein with specularite, CuOx 0.657 0.29 17408 265677 8060941 1021 Quartz vein with specularite, CuOx 150cm wide 0.205 0.23 17407 265654 8060931 1023 Quartz vein with specularite, CuOx 70cm wide 0.080 0.11 17409 265677 8060941 1021 Quartz vein with specularite, CuOx 0.365 0.05 For the complete sample locations and assay details from IOCG Target 2, refer to Appendix 1 MVI Results and Relationship with Rock Geochemistry Results of the MVI and geochemistry combined (Figure 5) show a distinct relationship between porphyry targets and magnetic susceptibility highs. In Porphyry Target 1, the main geochemistry anomalies are north of the magnetic high (Southern Mag anomaly) in an area that has a weak remanent magnetic response. As mapped on the ground, hornfels associated with faulting carries some copper oxide and gold mineralisation and may be reflecting part of the remanent response. Tourmaline breccias are observed that support the presence of intrusives being emplaced in the area. It is known that a magnetic low is formed in this area between the Southern and Central Mag anomalies and this will be a focus of exploration going forward despite the limitations imposed by some barren tuff cover rocks and encroaching recent sediments. Follow-up mapping and sampling will continue at this target to define future IP surveys where feasible (less cover) and drill targets. Figure 5: Susceptibility magnetic anomalies (Mag Anomalies - yellow) and remanent magnetic anomalies (Alteration Anomalies - blue) in relation to rock geochemistry targets. To view an enhanced version of this graphic, please visit: In Porphyry Target 2, the relationship between the magnetic susceptibility high (Eastern Mag anomaly) and the geochemistry is better represented due to better exposure. Geochemical anomalies generally surround the zone where the mag high surfaces. Some mineralised intrusive rocks and stockwork were observed indicating the porphyry nature of the anomalies. It should be noted that the Eastern Mag anomaly appears to be constrained by faulting on its western margin, and probably on its south-eastern margin with an associated alteration zone. The relationship between faulting and mineralisation is considered important in the area as evidenced at Ilo Este. Follow-up mapping and sampling will continue at this target to define future IP surveys and drill targets. IOCG Target 1 is associated with minor magnetic anomalies. In the area, these zones are typically constrained to structures. There is a susceptibility anomaly (Northern Mag anomaly) close to this target, and an alteration zone on strike 1km to the north. Both these areas will be investigated. IOCG Target 2 is situated in a zone 2km south of Porphyry Target 2 and the Eastern Mag anomaly. It is considered that these mineralised veins may be lateral expressions of associated porphyry mineralisation to the north. They are situated in a zone of deep remanent magnetism that may be reflecting alteration from the intrusives. Given the higher-grade nature of the results, this area will be investigated for vein swarms or other potential increases in size. It is important to note that the Central Mag anomaly, the largest anomaly of dimensions 5km x 1km, and its associated remanent mag zone to the south remain un-investigated, as does the western margin of the Eastern Mag anomaly. These areas will be investigated as a priority to establish the amount of outcrop and sampling possible. ENDS This announcement is authorised by Mike Parker, Executive Director of Solis Minerals Ltd. ContactMike ParkerExecutive DirectorSolis Minerals Limited+61 8 6117 4795 Media & Broker Enquiries:Fiona Marshall & Jason MackWhite Noise Communicationsfiona@ jason@ +61 400 512 109 Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release. About Solis Minerals Limited Solis Minerals is an emerging exploration company, focused on unlocking the potential of its South American copper portfolio. The Company is building a significant copper portfolio around its core tenements of Ilo Este and Ilo Norte and elsewhere in the Coastal Belt of Peru and currently holds 81 exploration concessions for a total of 69,200Ha (46 concessions granted with 35 applications in process). The Company is led by a highly-credentialled and proven team with excellent experience across the mining lifecycle in South America. Solis is actively considering a range of copper opportunities. South America is a key player in the global export market for copper and Solis, under its leadership team, is strategically positioned to capitalise on growth the opportunities within this mineral-rich region. Forward-Looking Statements This news release contains certain forward-looking statements that relate to future events or performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made 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, labour 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 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. Qualified Person Statement The technical information in this news release was reviewed by Michael Parker, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101). Michael Parker is Executive Director of the Company. Competent Person Statement The information in this ASX release concerning Geological Information and Exploration Results is based on and fairly represents information compiled by Mr Michael Parker, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Parker is Executive Director of Solis Minerals Ltd. and has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the exploration activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australian Code for Reporting of Mineral Resources and Ore Reserves". Mr Parker consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Parker has provided his prior written consent regarding the form and context in which the Geological Information and Exploration Results and supporting information are presented in this Announcement. APPENDIX 1 Table 5: Geochemical sample assays from Chocolate Project. SAMPLE ID Easting Northing Point Rl Auppm Cuppm Cu% 17199 262118 8060621 1107 0.03 458 0.05 17200 262095 8060396 1133 0.03 624 0.06 17379 263436 8061496 1114 0.03 13 0.00 17380 263437 8061523 1116 0.03 9 0.00 173817 262100 8060641 1107 0.11 1435 0.14 173828 262120 8060419 1132 0.17 3700 0.37 17383 264087 8059013 1073 TBC 187 0.02 17389 265116 8059171 1003 0.01 22 0.00 17395 264513 8065899 1312 0.14 839 0.08 17396 264518 8065875 1310 0.23 1065 0.11 17397 264520 8065874 1309 2.47 49200 4.92 17398 264699 8065709 1267 0.01 64 0.01 17399 264769 8065628 1246 0.04 2430 0.24 17401 264926 8065712 1279 0.01 806 0.08 17402 267255 8063882 934 0.03 19200 1.92 17403 267503 8063784 809 0.01 1175 0.12 17404 267481 8063789 810 0.04 1565 0.16 17405 267586 8063782 761 0.07 1170 0.12 17406 265611 8060852 1027 0.05 22900 2.29 17407 265654 8060931 1023 0.08 1140 0.11 17408 265677 8060941 1021 0.21 2270 0.23 17409 265677 8060941 1021 0.37 464 0.05 17410 265689 8060980 1030 0.21 27800 2.78 17411 264728 8065680 1267 0.10 294 0.03 17418 261117 8059489 1041 0.01 5 0.00 17419 262110 8060341 1120 0.00 222 0.02 17420 262185 8060169 1102 0.00 193 0.02 17422 262208 8060116 1097 0.01 240 0.02 17423 262280 8059995 1112 0.60 7060 0.71 17424 262368 8059805 1092 0.00 23 0.00 17425 262288 8059784 1076 0.00 35 0.00 17426 262211 8059701 1071 0.01 152 0.02 17427 262655 8059723 1108 0.00 8 0.00 17428 262155 8059873 1127 0.04 17 0.00 17429 262160 8059898 1116 0.00 9 0.00 17430 262156 8059895 1119 0.01 3 0.00 17431 262151 8059895 1116 0.01 6 0.00 17432 264858 8065368 1208 0.03 699 0.07 17433 267403 8063619 850 0.01 229 0.02 17434 265726 8064417 1153 0.00 4 0.00 17435 267125 8063074 1033 0.01 2500 0.25 17436 267788 8063113 761 0.06 12550 1.26 17437 262395 8060201 1102 0.00 133 0.01 17438 262096 8059429 1081 0.00 122 0.01 17439 262060 8059557 1067 0.01 38 0.00 17441 262037 8059587 1077 0.12 7 0.00 17442 262014 8059639 1069 0.02 333 0.03 17443 261980 8059710 1088 0.02 51 0.01 17444 261940 8059806 1099 0.01 17 0.00 17445 261881 8059902 1099 0.00 19 0.00 17446 261832 8059978 1113 0.01 37 0.00 17447 261806 8060082 1114 0.00 19 0.00 17448 261745 8060175 1112 0.00 414 0.04 17449 261707 8060251 1119 0.01 4 0.00 17450 261063 8059952 1084 0.01 35 0.00 17451 262036 8059847 1092 0.01 15 0.00 17452 262073 8059759 1082 0.01 15 0.00 17453 262100 8059685 1090 0.01 77 0.01 17454 262145 8059569 1090 0.00 46 0.00 17455 262283 8059574 1072 0.06 15 0.00 17456 262238 8059648 1074 0.12 6 0.00 17457 262150 8059810 1085 0.01 104 0.01 17458 262112 8059900 1088 0.03 5 0.00 17459 262061 8059995 1092 0.00 60 0.01 17460 262012 8060301 1106 0.01 179 0.02 17462 261970 8060389 1116 0.01 642 0.06 17463 262105 8060146 1110 0.00 10 0.00 17464 262136 8060031 1112 0.00 38 0.00 17465 262202 8059947 1113 0.01 27 0.00 17466 262243 8059864 1083 0.05 4 0.00 17467 262301 8059762 1081 0.01 28 0.00 17468 262326 8059711 1084 0.15 13 0.00 17469 262339 8059670 1085 0.00 5 0.00 17470 262366 8059598 1085 0.02 2 0.00 17471 262451 8059639 1092 0.00 6 0.00 17472 264674 8065339 1259 0.00 2040 0.20 17473 264673 8065352 1261 0.01 86 0.01 17474 264648 8065362 1260 0.01 618 0.06 17475 264841 8065273 1198 0.00 128 0.01 17476 266772 8063225 1101 0.00 462 0.05 17477 266622 8062899 940 0.05 1825 0.18 17478 266732 8062363 725 0.04 771 0.08 17479 267840 8062167 635 0.03 362 0.04 17481 265718 8061149 1016 0.66 2930 0.29 17482 265533 8061719 829 0.00 71 0.01 17483 266345 8062137 668 0.01 285 0.03 17484 267131 8062020 521 0.00 172 0.02 17485 267246 8062028 532 0.23 8120 0.81 17486 267231 8062023 533 0.41 10300 1.03 17487 267226 8062222 619 0.02 579 0.06 17488 267225 8062236 626 0.00 286 0.03 17489 262218 8059405 1077 0.01 7 0.00 17490 262692 8059092 1057 0.01 676 0.07 17491 262411 8059731 1101 0.01 16 0.00 17492 262349 8059900 1098 0.01 9 0.00 17493 262253 8060079 1099 0.00 55 0.01 17494 262162 8060265 1128 0.01 68 0.01 17495 262058 8060434 1087 0.01 22 0.00 17496 262079 8060670 1107 0.34 354 0.04 17497 262149 8060462 1097 0.01 3 0.00 17498 262190 8060397 1115 0.01 35 0.00 17499 262253 8060293 1107 0.01 114 0.01 17500 262302 8060198 1098 0.01 14 0.00 17502 262341 8060129 1099 0.01 17 0.00 17503 262372 8060040 1105 0.01 8 0.00 17504 262429 8059946 1109 0.04 12 0.00 17505 262468 8059851 1114 0.00 95 0.01 17506 262501 8059773 1106 0.00 4 0.00 17507 262568 8059686 1120 0.00 9 0.00 17508 262605 8059824 1116 0.01 7 0.00 17509 262555 8059902 1121 0.00 15 0.00 17510 262504 8060006 1118 0.01 10 0.00 17511 262468 8060078 1117 0.01 22 0.00 17512 262453 8060304 1097 0.01 21 0.00 17513 262497 8060221 1103 0.01 36 0.00 17514 262610 8060041 1111 0.01 11 0.00 17515 262620 8059948 1121 0.00 7 0.00 17516 262702 8059854 1117 0.00 9 0.00 17517 262744 8059773 1123 0.00 19 0.00 17518 262831 8059817 1129 0.00 10 0.00 17519 261658 8059446 1072 0.00 6 0.00 17521 261577 8059616 1074 0.00 6 0.00 17522 261484 8059812 1105 0.01 14 0.00 17523 261412 8059979 1084 0.01 10 0.00 17524 261281 8060192 1103 0.01 759 0.08 17525 261263 8060206 1110 0.00 155 0.02 17526 261109 8060054 1097 0.01 21 0.00 17527 261208 8059858 1074 0.01 77 0.01 17528 261433 8059784 1098 0.02 3 0.00 17529 261369 8059697 1089 0.01 73 0.01 17530 261373 8059543 1074 0.01 22 0.00 17531 261496 8059345 1056 0.01 16 0.00 17532 261558 8059162 1044 0.01 5 0.00 17533 261948 8059366 1095 0.00 4 0.00 17534 261572 8060087 1108 0.00 32 0.00 17535 261638 8059860 1119 0.03 137 0.01 17536 261638 8059860 1119 0.01 1365 0.14 17537 261743 8059739 1109 0.01 590 0.06 17538 261824 8059554 1073 0.01 17 0.00 17539 260916 8060015 1110 0.01 72 0.01 17540 261159 8059604 1066 0.01 6 0.00 17542 261236 8059441 1063 0.01 35 0.00 17543 261377 8059122 1043 0.00 19 0.00 17544 260989 8059540 1066 0.01 2 0.00 17545 260959 8059558 1968 0.01 2 0.00 17546 261129 8059179 1067 0.01 73 0.01 17547 260490 8060671 1136 0.00 448 0.04 17548 260476 8060665 1138 0.01 25 0.00 17549 260497 8060606 1131 0.01 626 0.06 17550 260860 8059715 1095 0.01 167 0.02 17551 261233 8059018 1066 0.01 7 0.00 APPENDIX 2 JORC Code, 2012 Edition - Table 1 Criteria JORC Code explanation Commentary Sampling techniques Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. 151 rock chip and grab samples were collected in 2024 from outcrops on an approximately 10% of the Chocolate Project area. Coordinate position and assay results of each sample are shown in Appendix 1 and in Tables 1 to 4 in the text of this ASX release. The samples are considered to be as representative as possible of the exposure, albeit by their nature, chip and grab samples do not reflect the overall grade of mineralisation encountered. Samples were representatively hand-cobbed to approximately 2.5kg mass for lab submission. Drilling techniques Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc). No historic or new drilling has been reported in this announcement Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. No drilling reported herein Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. No drilling is reported in this announcement. Rock chip and grab samples were logged and rock type lithologies, oxidation and quantities of, and types of, mineralisation noted. Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representativity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. Rock chip and grab samples taken were considered to be of appropriate size and representativity to ascertain if copper and or precious metal mineralisation is present at the outcrops. Field duplicates were prepared across a range of samples and reported excellent correlation. The sample procedure and preparation is considered appropriate for the nature of the base metal mineralisation tested and its distribution throughout the sample. Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. All rock chips and grab samples were assayed by ALS in Lima. Methods used were total assay of sample: Preparation PREP31 Analysis Au-AA23 and ME-ICP61 Cu OG-62 for overlimit Cu >1% Pb OG-62 for overlimit Pb >1% Zn OG-62 for overlimit Zn >1% Ag OG-62 for overlimit Ag >100ppm OREAS standards, blanks, and field duplicates were inserted at appropriate intervals and reported within required ranges. Verification ofSampling and assaying The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. All Solis data is verified by the Competent Person including site visits to the Chocolate Project. All data is stored in an electronic database and sample rejects are stored in company warehouses. Competent Person and an alternative company director have visited the site during sampling and observed sampling techniques and quality control. Location of data points Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. All sample locations were captured using a handheld GPS in WGS84 19S. Rock and chip samples are points. Data spacing and distribution Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. No set sample spacing or pattern has been applied due to the preliminary nature of the sampling programme. Exposures of mineralisation or outcrop were tested where found and not on a regular pattern. The distribution of the mineralisation allows commentary on potential scope of mineralisation but does not imply continuity. Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. No bias has been introduced in current sampling. Sample security The measures taken to ensure sample security. All samples are bagged onsite under supervision of Solis staff, all bags are then sealed and couriered to the relevant laboratories with all relevant submission documentation. All samples once received are logged into the lab and notice of each sample received is sent and cross checked with sample dispatch. Audits orreviews The results of any audits or reviews of sampling techniques and data. There have been no detailed external audits or reviews undertaken. Solis has conducted an internal technical review and site visit by the Competent Person.. Section 2 Reporting of Exploration Results(Criteria listed in the preceding section also apply to this section) Criteria JORC Code explanation Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. The Chocolate Project is 100% Solis Minerals owned. 5,700Ha of 6,100 Ha tenements have been granted. The remaining 400Ha is expected to be granted in due course. There are no communities in the area. There are no known archaeological or other sensitive sites. Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. The Chocolate property has had no known systematic exploration carried out by previous owners. No known records of previous drilling exist in the mining ministry. Geology Deposit type, geological setting and style of mineralisation. The area is known for the occurrence of porphyry Cu deposits. Particularly Tia Maria and Zafranal projects some 70-100km to north of Chocolate. Ilo Este, 7km SE, is an advanced exploration project with established porphyry Cu mineralisation. Ilo Este has characteristics of geology considered similar to Chocolate. Drill holeInformation A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole hole length If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. No drillhole data is reported in this release Criteria JORC Code explanation Commentary Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. Rock samples for geochemical analysis are considered point samples with no implication of lateral or depth continuity. Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known'). Rock samples have no mineralisation width apart from vein widths generally noted in the tables in this ASX release. Vein widths do not imply volume or continuity. Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. The Company has included various maps and figures showing the location of sampled outcrop. GPS coordinates of rock and chip samples are provided in Appendix 1 and subsets in Tables 1-4. Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced avoiding misleading reporting of Exploration Results. Assay results for Au and Cu are presented in total for work related to this release. Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. The Chocolate area was substantially covered by a drone magnetometry survey in August 2024 undertaken by Real Eagle of Peru. A reprocessing of this data using Magnetic Vector Inversion techniques was carried out by Fathom Geophysics of the USA. MVI is a method used to directly model the vector of magnetization based on anomalous Total Field Magnetic Intensity data. The method allows the modelling optimization process to orient the direction of magnetization to best fit the observed data. Outputs of MVI are used to model subsurface geology using magnetic susceptibility and remanent magnetism. Further work The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. IP surveys are being evaluated for the anomalous areas. Untested areas will be mapped and sampled, if appropriate. Further IP surveys may be planned. All programs are designed to delineate drill targeting. ________________________ 1 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024.2 Previously referred to as the Guaneros Project.3 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024.4 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024.5 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024.6 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024.7 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024.8 ASX: SLM announcement "Guaneros Drone Magnetometry and Geochemistry Identifies Targets", 17 September 2024. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
18-02-2025
- Business
- Yahoo
Altiplano Announces Drill Program at Santa Beatriz
Edmonton, Alberta--(Newsfile Corp. - February 18, 2025) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to announce a diamond drilling program at the historic Santa Beatriz iron-oxide-copper-gold (IOCG) mine. Santa Beatriz is located approximately 45 kilometers south of La Serena, Chile, and 13 kilometers south of the El Peñón processing plant. The drill program will consist of a minimum of four holes averaging 125 meters per hole targeting the Santa Beatriz main vein (Figure 1). The primary objective is to confirm the continuity of the vein below the lowest historically mined level (Level 416). Additionally, the program aims to assess mineralization continuity and grade consistency 25 to 40 meters below Level 416, where previous underground channel sampling yielded positive results (News Release - May 27, 2024) (Figure 2). Results from this drill program, combined with the ongoing bulk sampling data (News Release - January 15, 2025), will be used to support an evaluation to construct a decline to access at least three deeper extraction levels at Santa Beatriz. Expanding mining operations to lower levels could enhance Cu-Au-Fe mineralized material production and increase supply for the El Peñón processing facility. Seven additional untested IOCG veins are hosted within the Santa Beatriz concession that are also future drill targets. The mine is situated within Chile's copper-rich IOCG belt, specifically in the Tambillos District, a well-known mining region. President and CEO Alastair McIntyre comments:"We are excited to take this next step of technical review at Santa Beatriz. The drill program has been designed specifically to confirm the continuity of mineralization along strike and down dip within the Santa Beatriz vein system to support ongoing underground development. This type of program is ideally suited for use with the Company's owned drill rig that can be efficiently mobilized to obtain cost effective results." Figure 1: Plan view showing planned DDH, channel samples, and underground geology of level 416. To view an enhanced version of this graphic, please visit: Figure 2: Longitudinal along the Sta Beatriz main vein showing historic levels of production, projected channel samples, and planned drill holes. To view an enhanced version of this graphic, please visit: Altiplano has generated over C$22.8 million from the recovery and sale (after processing costs) of more than 6.95 million pounds of copper with an average grade of 1.8% Cu (Dec 2018 to Sep 2024). Cash has been re-invested into acquisition, exploration, new equipment, underground drilling, expanding underground development and production, and the completion of the El Peñón copper-gold-iron processing facility located 30 km from La Serena, Chile. About AltiplanoAltiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company has a diversified portfolio of assets that include exploration properties, a developing copper/gold/iron mine and an industry leading copper/gold and iron processing facility. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration and development, and pursuing acquisition opportunities to provide scalable upside opportunities. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. John Williamson, a Qualified Person as defined by NI 43-101, has reviewed, and approved the technical contents of this document. Altiplano is part of the Metals Group of Companies, led by a dynamic group of resource sector professionals with a long record of success in evaluating and advancing mining projects from exploration through to production, attracting capital, and overcoming adversity to deliver exceptional shareholder value. ON BEHALF OF THE BOARD /s/ "John Williamson"Chairman For further information, please contact:Alastair McIntyre, CEOalastairm@ (416) 434 3799 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the (TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating any historical information or estimates as current mineral resources or mineral reserves. The Santa Beatriz mine was previously in production mid 2010's with little known production records. This material was processed and sold locally to a private processing facility. Altiplano is relying upon limited past production records, underground sampling and related activities to further explore and potentially develop Santa Beatriz. The decision to develop the project and extract material for potential processing is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any future potential production decision. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at To view the source version of this press release, please visit Sign in to access your portfolio
Globe and Mail
14-02-2025
- Business
- Globe and Mail
Benz Exercises Option over Strategic Ground Along Strike from the Glenburgh Gold Project
HIGHLIGHTS Benz has exercised the option to acquire highly prospective tenements adjacent to the Glenburgh Gold Project, increasing the total project tenure to ~898km 2. Exercising the option has secured over ~20km of potential strike extension to the known mineralisation at the Glenburgh Gold Project. Regional geological interpretation suggests similar lithologies that host the Glenburgh Gold Project continue into the new ground. Opportunity to follow-up on quartz-magnetite breccia occurrences in the western part of tenure, previously identified by Hannans Ltd in 2021 as possible IOCG targets. 1 Vancouver, British Columbia--(Newsfile Corp. - February 13, 2025) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (Benz or the Company) is pleased to announce that it has exercised the option agreement to acquire highly prospective tenements adjacent to the Glenburgh Gold Project in Western Australia, and a strategic tenement at the Mt Egerton Gold Project (Option Agreement). 2 Mark Lynch-Staunton, CEO commented: "We are thrilled to exercise this option over such a highly prospective land package along strike from the Glenburgh Gold Project. Our maiden drill program is already in full swing, with initial results anticipated in the coming weeks. With this strategic expansion, we're not only extending our search for Glenburgh-style gold mineralisation by another 20km, but we're also reinforcing our commitment to aggressively exploring and unlocking value in an underexplored gold district in Australia. This is an incredibly exciting time for Benz, and we can't wait to see what our ongoing drilling and expanded exploration efforts uncover." Figure 1: Location of the Glenburgh Project tenements and exercised option ground. To view an enhanced version of this graphic, please visit: Terms of the Option Agreement Pursuant to the Option Agreement, Benz has exercised the exclusive right to acquire four tenements from Mining Equities Pty Ltd (Vendor). Benz had the ability to exercise this option until 30 days following successful completion of the previously announced acquisition of the Glenburgh and Mt Egerton Gold Projects from Spartan Resources Limited (ASX: SPR) (Spartan). The following consideration is payable to the Vendor upon completion, which is expected to occur within 5 business days: issuance of 500,000 fully paid ordinary shares in Benz; and the grant of a 0.75% net smelter royalty. Refer to Appendix 1 for the complete tenement schedule of the option agreement. This announcement has been approved for release by the Board of Benz Mining Corp. For more information please contact: Mark Lynch-Staunton Chief Executive Officer Benz Mining Corp. E: mstaunton@ T: +61 8 6143 6702 About Benz Mining Corp. Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) is a pure-play gold exploration company dual-listed on the TSX Venture Exchange and Australian Securities Exchange. On 6 November 2024, Benz announced a binding agreement to acquire the Glenburgh and Mt Egerton Gold Projects in Western Australia from Spartan Resources Limited (ASX: SPR), which was completed on 14 January 2025 and marks a transformational step, establishing Benz as a multi-jurisdictional gold exploration company with a focus on unlocking value in underexplored assets. The Glenburgh Project features a Mineral Resource Estimate of 16.3Mt at 1.0 g/t Au (510,100 ounces of contained gold) 3. A technical report prepared under NI 43-101- Standards of Disclosure for Mineral Projects (NI 43-101) titled "NI 43-101 Technical Report on the Glenburgh - Egerton Gold Project, Western Australia" with an effective date of 16 December 2024 has been filed with the TSX Venture Exchange and is available under the Company's profile at Benz's key point of difference lies in its team's deep geological expertise and the use of advanced geological techniques, particularly in high-metamorphic terrane exploration. The Company aims to rapidly grow its global resource base and solidify its position as a leading gold explorer across two of the world's most prolific gold regions. The Company also owns the Eastmain Gold Project in Quebec, with a NI 43-101 and JORC (2012) compliant mineral resource of 1,005,000 ounces at 6.1g/t Au 4, showcasing Benz's focus on high-grade, high-margin assets in premier mining jurisdictions. To view an enhanced version of this graphic, please visit: For more information, please visit: Qualified Person (NI 43-101) The disclosure of scientific or technical information in this news release is based on, and fairly represents, information compiled by Dr Marat Abzalov. Dr Abzalov, who is a Qualified Person as defined by NI 43-101, and member in good standing as a Fellow of The Australasian Institute of Mining and Metallurgy (#202718). Dr Abzalov has reviewed and approved the technical information in this news release. Dr Abzalov has shares in Benz Mining Corp. Historical Mineral Resource Estimates All mineral resource estimates in respect of the Glenburgh and Mt Egerton Projects in this news release are considered to be "historical estimates" as defined under NI 43-101- Standards of Disclosure for Mineral Projects (NI 43-101). These historical estimates are not considered to be current and are not being treated as such. These estimates have been prepared in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC Code) and have not been reported in accordance with NI 43-101. A qualified person (as defined in NI 43-101) (Qualified Person) has not done sufficient work to classify the historical estimates as current mineral resources. A Qualified Person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical data in order to verify the historical estimates as current mineral resources. Forward-Looking Statements Statements contained in this news release that are not historical facts are "forward-looking information" or "forward looking statements" (collectively Forward-Looking Information) as such term is used in applicable Canadian securities laws. Forward-Looking Information includes, but is not limited to, disclosure regarding the Glenburgh and Mt Egerton projects as well as certain tenements adjacent thereto and the anticipated benefits thereof, planned exploration and related activities on the Glenburgh and Mt Egerton projects. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipates", "complete", "become", "expects", "next steps", "commitments" and "potential", in relation to certain actions, events or results "could", "may", "will", "would", be achieved. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the tenements associate with the Glenburgh and Mt Egerton projects that are still pending grant or undergoing the renewal process will be granted and/or renewed, as applicable, in the timely manner and on reasonable terms, and all conditions precedent to completion of the acquisitions will be satisfied, in a timely manner; the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Company's Projects (including Glenburgh and Mt Egerton) can be achieved; and the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at and Accordingly, readers should not place undue reliance on Forward-Looking Information. The Forward-looking information in this news release is based on plans, expectations, and estimates of management at the date the information is provided and the Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. E09/2928 Granted 28/06/2023 13/02/2024 12/02/2029 70 E09/2929 Granted 28/06/2023 13/02/2024 12/02/2029 7 E09/2952 Granted 01/12/2023 25/07/2024 24/07/2029 36 E52/4360 Granted 18/06/2024 19/08/2024 18/08/2029 15 To view the source version of this press release, please visit
