High Grade Copper Samples Identified at Cinto

Rhea-AI Summary

Solis Minerals has signed an access agreement with Carumbraya community at the Cinto Project in Peru, initiating systematic mapping and sampling of outcropping copper mineralization. Initial surface grab samples reported assays up to 7.14% Cu, with mineralization spread across a 200m x 100m area. The Cinto Project is positioned on a significant geological fault system, linked to the massive Toquepala porphyry system. Ongoing drone magnetometer and geological mapping aim to guide drill permitting. Other Solis assets in Peru, including Ilo Este and Chancho al Palo, are also being prepared for drilling, with geophysical surveys identifying promising targets.

Positive

• Surface grab samples report assays up to 7.14% Cu.
• Mineralization mapped over a 200m x 100m area.
• Positioned on a significant fault system related to the Toquepala porphyry system.
• Drone magnetometer and geological mapping underway to guide drill permitting.

Negative

• None.

HIGHLIGHTS

• Solis has signed an access agreement with local Carumbraya community at the Cinto Project and initiated systematic mapping and sampling of outcropping copper mineralisation

• Surface grab samples from Cinto report assays up to 7.14% Cu with mineralisation mapped over a 200m x 100m area in historical workings associated with significant alteration and structural deformation

• Significant structures evident in 100m wide exposed area with abundant copper oxide mineralisation in historical artisanal workings

• Positioned on boundary of regional scale transcurrent Incapuquio fault system which forms structural corridor related to massive Toquepala porphyry system 10km to the north-west

• Geochemical signature and base metal concentration ratios assayed in very similar ranges to metals content in Toquepala indicating porphyry-style mineralisation¹

• Drone magnetometer and follow up geological mapping is underway to guide drill permitting

West Leederville, Western Australia--(Newsfile Corp. - July 9, 2024) - Solis Minerals Limited (ASX: SLM) ("Solis" or the "Company") is pleased to announce an update on exploration activities at the Cinto Project Peru. Solis has recently completed a first pass geochemical programme at the Cinto Project and has finalised an access agreement with the local community to fast-track drill exploration at this location.

Executive Director, Matthew Boyes, commented: "We are very pleased to have commenced exploration activities at Cinto, its location and initial geochemical rock chip results are extremely compelling. I am most excited about the geochemical signature we are seeing which demonstrates that copper mineralisation is present with associated metals in very similar corresponding concentrations to the mineralisation present at the massive Toquepala deposit, potentially indicating that the mineralisation at surface is located in close proximity to a large porphyry system.

"I am looking forward to commencing geophysical programmes in conjunction with a detailed mapping programme and applying for permits for the first pass drill programme. Our Peruvian assets have been significantly underexplored for too long. We now have a pipeline of very high-quality drill targets at Ilo Este and Chancho al Palo which are both being permitted for drilling. Cinto is now shaping up to be an equally significant high quality exploration target".

¹ FIGMMG-UNMSM Vol 20 Enere-Junio 2017, Diego Cossio Sanchez, Hugo Rivera Mantilla "Caracterizacion Geoquimica delElemento Zinc en la Mina Toquelpala y sus implicaciones en el traamiento metalurgico."

Figure 1: Cinto Project surface grab sample 17142 with visible copper oxides and silicification returned 7.14% Cu (see Appendix 1 for details) ²

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/215766_figure1.jpg

Figure 2: Grab sample 17181 (1.00% Cu) with copper oxides from outcropping historical workings at Cinto Project (see Appendix 1 for details)²

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/215766_figure2.jpg

² Grab samples give point indications of mineral content only and as such should not be considered representative of continuity of mineralisation or potential tonnage (mass) of mineralised bodies.

Cinto Geology and mineralisation

The Cinto Project is traversed by the transcurrent Incapuqio fault system which is a major regional structure trending N125E (NW-SE) that is at least 400km long and up to 10km wide in places. Late Cretaceous-Early Palaeogene intrusions related to the formation of major porphyries (Cuajone, Quellaveco, Toquepala) were probably favoured by the transcurrent nature of the Incapuquio fault and the zone and its margins form a focus of mining and exploration in southern Peru. The Cinto Project is situated in Toquepala Group volcanic and volcanosedimentary rocks which are coeval (same period) as the intrusives in the area and host the Toquepala porphyry (see Figure 3). The fault is the limit of the Oligocene Moquegua Formation basin to the south-west and conglomerates occur in the southern margin of the project.

Figure 3: Map of Solis' exploration tenements over regional geology of Cinto Project with the major Incapuquio fault and location of Toquepala mine located 10km to the north west.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/215766_figure3.jpg

Local geology of the project is dominated by the Incapuquio fault system in the north-west that juxtaposes Cretaceous batholith rocks to the north against coeval volcanosedimentary shales, lavas and tuffs to the south. Splays and parallel structures cross the permits in the south. A zone of hydrothermal alteration crosses the centre of the permits. In late 2022, Solis carried out Worldview-3 satellite imaging and identified several distinct zones of alteration³. The south of the permits are covered by the edge of the Oligocene basin with shallow to moderate thicknesses of conglomerates. The altered rocks extend beneath this cover and are considered valid exploration targets (see Figure 4).

 

Figure 4: Cinto Project local surface geology map showing mapped hydrothermal alteration and rock types in proximity of sampling area. Other alteration is derived from Worldview-3 survey.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/215766_figure4.jpg

Initial mapping programs have identified a zone within and bordering the Incapuquio Fault system that shows the presence of abundant copper oxides with artisanal workings (see grab samples in Figures 1 & 2 and Figures 4, 5 & 6 for copper occurrence location).

The zone, approximately 200 x 100m in extent, consists of shales and tuffs with argillic and propylitic alteration showing considerable multi-directional faulting and brecciation with Cu oxides occurring in distinct patches (see Figure 5 for sample results map). Several assays returned copper values greater than 1% and one high grade sample returned 7.14% Cu in a highly mineralised oxide zone. Some mineralised structures are at high angles to a bounding splay of the Incapuquio fault to the north. The nature of the occurrence (mineralisation breccias, abundant copper oxide mineralisation in places) suggests a proximal source. Geochemical results (associated Ag, Au, Mo and zinc) reflect a chemistry similar to the neighbouring Toquepala deposit¹. The copper occurrence is being considered as a marker for a potential porphyry style mineralisation in the area.

³ Refer ASX release 31^st January 2023.

Figure 5: Grab sample IDs and locations at Cinto Project, shown with large scale regional geology. Detailed geological mapping will now be completed over the entire licence area.

 To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/215766_figure5.jpg

Figure 6: Cinto Project licence areas both under application and granted shown with location of Toquepala mine, owned by Southern Copper Corporation.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/215766_figure6.jpg

The mapping crews are now mobilising to site to systematically cover the entire tenement package and identify areas of highest prospectivity. No geophysical data is available for the project and first-pass drone magnetometry will be carried out to target magnetite occurrences potentially related to porphyry alteration. The thin conglomerate cover in the south of the granted permits will be covered by drone magnetometry as field observations indicate the alteration continues southwards in this area. Follow-up Induced Polarisation (IP) geophysical studies will be carried out over areas of interest to evaluate primary drill targets.

Drill permitting at Ilo Este and Ilo Norte

Both Ilo Este and Ilo Norte (Figure 7) have been recently covered by magnetic and IP surveys that have identified drill targets and drill permitting to test these targets is underway⁴.

⁴ Refer ASX release 30^thJanuary 2024.

Figure 7: Solis tenements in the prospective coastal belt with existing deposits and regional geology

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1134/215766_figure7.jpg

Next Steps

Solis is prioritising the advancement of the drill pemitting process in Peru over its Ilo Este, Chancho Al Palo (Ilo Norte) and Cinto Project areas, while continuing to review and advance targeted lithium and copper opportunities in South America.

ENDS

This announcement is authorised by Matthew Boyes, Executive Director of Solis Minerals Ltd.

Australia 
Matt Boyes
Executive Director
Solis Minerals Limited
+61 8 6117 4795

Stephanie Richardson & Cameron Gilenko
Investor Relations
Morrow Sodali
+61 (8) 6160 4900 

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 Ltd.

Solis Minerals is an emerging lithium explorer focusing on Latin American critical minerals.

The Company owns a 100% interest or option to acquire 100% interest in the Borborema Lithium Project in NE Brazil, covering 26,100ha.

Brazil is rapidly growing in global importance as an exporter of lithium to supply increasing demand of battery manufacturers. Both projects cover highly prospective, hard-rock lithium ground on which early-stage reconnaissance mapping and sampling have verified. Drilling programmes are either underway or due to commence shortly.

In addition, Solis also holds a 100% interest in 41,400ha of combined licences and applications of highly prospective IOCG (iron oxide copper/gold) and porphyry copper projects in southwestern Peru within the country's prolific coastal copper belt - a source of nearly half of Peru's copper production.

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 www.sedar.com. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Qualified Person Statement

The technical information in this news release was reviewed by Matthew Boyes, a Fellow of the Australian institute of Mining and Metallurgy (AusIMM), a qualified person as defined by National Instrument 43-101 (NI 43-101).

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 Matthew Boyes, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Boyes is an employee 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 Boyes consents to the inclusion in this report of the matters based on information in the form and context in which it appears. Mr Boyes 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

Surface Grab Samples at Cinto Project

Grab samples give point indications of mineral content only and as such should not be considered representative of continuity of mineralisation or potential tonnage (mass) of mineralised bodies.

SAMPLE	Easting	Northing	Cu %	Au_ppm	Ag_ppm	Mo_ppm	Zn_ppm
17142	335107	8079501	7.14	0.12	8.40	1	322
17148	335141	8079516	3.52	0.01	7.70	1	379
17136	335098	8079487	3.23	0.08	6.70	1	146
17160	335548	8080711	2.34	0.30	46.20	34	686
17164	335242	8080500	1.77	0.19	65.70	11	277
17178	335173	8079539	1.00	0.05	7.60	1	515
17179	335145	8079554	1.00	0.02	6.40	1	279
17181	335128	8079541	1.00	0.03	4.90	1	41
17144	335109	8079492	0.99	0.01	3.80	1	305
17147	335122	8079506	0.91	0.02	4.40	1	264
17145	335095	8079506	0.85	0.01	3.00	1	120
17180	335110	8079533	0.81	0.01	0.50	1	718
17143	335105	8079506	0.51	0.01	8.10	1	218
17120	335027	8080868	0.41	0.01	0.80	2	51
17151	335091	8079487	0.15	0.01	3.90	1	186
17146	335095	8079506	0.13	0.01	3.60	1	231
17119	336590	8078888	0.02	0.01	0.50	1	102
17182	334805	8079173	0.01	0.01	0.50	1	39
17166	334797	8079389	0.01	0.01	0.50	1	59
17155	334591	8079724	0.01	0.01	0.50	1	19
17141	335090	8079495	0.01	0.01	0.50	1	262
17171	334875	8079889	0.01	0.01	0.50	1	82
17133	334506	8079718	0.01	0.01	0.50	1	45
17167	334661	8079742	0.00	0.01	0.50	22	78
17172	334837	8079859	0.00	0.01	0.50	1	84
17177	335220	8079624	0.00	0.01	0.50	3	71
17157	334648	8079759	0.00	0.01	0.50	8	185
17134	334629	8079544	0.00	0.01	0.50	1	44
17163	334998	8079549	0.00	0.01	0.50	1	163
17173	335008	8079701	0.00	0.01	0.90	6	15
17158	334833	8079634	0.00	0.01	0.50	1	35
17121	331999	8078016	0.00	0.01	0.50	1	24
17175	335443	8079648	0.00	0.01	0.50	1	206
17138	335342	8079528	0.00	0.01	0.50	2	53
17168	334637	8079809	0.00	0.01	0.50	6	58
17156	334652	8079756	0.00	0.01	0.50	1	9
17135	334936	8079540	0.00	0.01	0.50	2	44
17170	334684	8079899	0.00	0.01	0.50	1	23
17137	335342	8079530	0.00	0.01	0.50	1	94
17122	331991	8078023	0.00	0.01	0.50	1	39
17140	335346	8079326	0.00	0.01	0.50	3	16
17174	335417	8079579	0.00	0.01	1.00	1	43
17139	334793	8078889	0.00	0.01	0.50	1	15
17176	335420	8079657	0.00	0.01	0.50	1	32
17169	334642	8079819	0.00	0.01	0.50	13	7

 

Table: Table of geochemical assays from first past reconnaissance sampling in and around historical workings at the Cinto Project. Coordinate system WGS 19S.

APPENDIX 2

Mining Concessions table
Westminster Peru SAC‐ Concessions and Applications in Peru as of 2^nd May 2024

36 granted
Date	Concession	Owner	Status	Area (Ha)
22/08/2008	LATIN ILO ESTE III	WESTMINSTER PERU S.A.C.	Granted	600
22/08/2008	LATIN ILO ESTE I	WESTMINSTER PERU S.A.C.	Granted	800
22/08/2008	LATIN ILO ESTE II	WESTMINSTER PERU S.A.C.	Granted	900
11/03/2009	LATIN ILO NORTE 4	WESTMINSTER PERU S.A.C.	Granted	1000
11/03/2009	LATIN ILO NORTE 3	WESTMINSTER PERU S.A.C.	Granted	1000
13/10/2009	LATIN ILO NORTE 7	WESTMINSTER PERU S.A.C.	Granted	1000
13/10/2009	LATIN ILO NORTE 8	WESTMINSTER PERU S.A.C.	Granted	1000
13/10/2009	LATIN ILO NORTE 6	WESTMINSTER PERU S.A.C.	Granted	700
1/03/2011	MADDISON 1	WESTMINSTER PERU S.A.C.	Granted	1000
1/03/2011	BRIDGETTE 1	WESTMINSTER PERU S.A.C.	Granted	1000
1/03/2011	ESSENDON 26	WESTMINSTER PERU S.A.C.	Granted	1000
5/03/2014	LATIN ILO ESTE IX	WESTMINSTER PERU S.A.C.	Granted	900
28/01/2021	CARUCA	WESTMINSTER PERU S.A.C.	Granted	600
4/01/2022	SOLIS06	WESTMINSTER PERU S.A.C.	Granted	1000
4/01/2022	SOLIS04	WESTMINSTER PERU S.A.C.	Granted	400
4/01/2022	SOLIS03	WESTMINSTER PERU S.A.C.	Granted	500
4/01/2022	SOLIS05	WESTMINSTER PERU S.A.C.	Granted	500
4/01/2022	SOLIS02A	WESTMINSTER PERU S.A.C.	Granted	100
4/01/2022	SOLIS02	WESTMINSTER PERU S.A.C.	Granted	200
16/11/2022	SOLIS SUR 2	WESTMINSTER PERU S.A.C.	Granted	900
16/11/2022	SOLIS NORTE 1	WESTMINSTER PERU S.A.C.	Granted	1000
16/11/2022	SOLIS NORTE 4	WESTMINSTER PERU S.A.C.	Granted	900
16/11/2022	SOLIS NORTE 6	WESTMINSTER PERU S.A.C.	Granted	1000
16/11/2022	SOLIS NORTE 2	WESTMINSTER PERU S.A.C.	Granted	500
16/11/2022	SOLIS NORTE 3	WESTMINSTER PERU S.A.C.	Granted	1000
16/11/2022	SOLIS NORTE 5	WESTMINSTER PERU S.A.C.	Granted	1000
16/11/2022	SOLIS NORTE 7	WESTMINSTER PERU S.A.C.	Granted	1000
16/11/2022	SOLIS SUR 3	WESTMINSTER PERU S.A.C.	Granted	900
21/02/2023	SOLIS NORTE 10	WESTMINSTER PERU S.A.C.	Granted	1000
21/02/2023	SOLIS NORTE 11	WESTMINSTER PERU S.A.C.	Granted	400
21/02/2023	SOLIS NORTE 8	WESTMINSTER PERU S.A.C.	Granted	1000
21/02/2023	SOLIS NORTE 12	WESTMINSTER PERU S.A.C.	Granted	1000
21/02/2023	SOLIS KELLY 01	WESTMINSTER PERU S.A.C.	Granted	1000
21/02/2023	SOLIS KELLY 02	WESTMINSTER PERU S.A.C.	Granted	1000
22/06/2023	SOLIS NORTE 15	WESTMINSTER PERU S.A.C.	Granted	800
22/06/2023	SOLIS NORTE 13	WESTMINSTER PERU S.A.C.	Granted	1000
				29600
7 applications
4/01/2022	SOLIS07	WESTMINSTER PERU S.A.C.	Application	300
4/01/2022	SOLIS07A	WESTMINSTER PERU S.A.C.	Application	200
21/02/2023	SOLIS NORTE 9	WESTMINSTER PERU S.A.C.	Application	1000
22/06/2023	SOLIS NORTE 14	WESTMINSTER PERU S.A.C.	Application	900
22/06/2023	SOLIS NORTE 16	WESTMINSTER PERU S.A.C.	Application	1000
2/10/2023	SOLIS ILO ESTE I	WESTMINSTER PERU S.A.C.	Application	400
14/12/2023	SOLIS ILO ESTE II	WESTMINSTER PERU S.A.C.	Application	1000
				4800
7 new applications May 2nd 2024
2/05/2024	SOLIS NORTE 18	WESTMINSTER PERU S.A.C.	Application	1000
2/05/2024	SOLIS NORTE 19	WESTMINSTER PERU S.A.C.	Application	1000
2/05/2024	SOLIS NORTE 20	WESTMINSTER PERU S.A.C.	Application	1000
2/05/2024	SOLIS NORTE 21	WESTMINSTER PERU S.A.C.	Application	1000
2/05/2024	SOLIS NORTE 22	WESTMINSTER PERU S.A.C.	Application	1000
2/05/2024	SOLIS NORTE 17	WESTMINSTER PERU S.A.C.	Application	1000
2/05/2024	SOLIS NORTE 23	WESTMINSTER PERU S.A.C.	Application	1000
				7000
				Hectares
		Total titles	54	41400
		Granted	37	29600
		In Application	17	11800

 

APPENDIX 3

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.	Rock chip and grab samples were taken from outcrop which exhibited visible copper oxide mineralisation, the samples are considered to be as representative as possible of the outcropping although they are grab samples and not representative of the body of mineralisation as a whole.
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 historical 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 reported in this announcement. Rock chip samples are 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.	No drill core or systematic rock channel sampling is reported in this announcement. Rock chip samples taken are to be considered of appropriate size and representativity to ascertain if copper and or precious metal mineralisation is present at the discovered outcrops, follow up systematic sampling will occur once a granted EIA and permit is obtained to undertake ground disturbing activities.
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.	Rock chips were assayed by ALS in Lima. Methods used were Preparation PREP31 Analysis Au-AA23 and ME-ICP61 OREAS standards were inserted at appropriate intervals and blanks.
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. All data is stored in an electronic Access Database.
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 and DGPS.
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.
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 drilling data is reported in this announcement. No bias has been introduced in current drilling and sampling.=
Sample security	The measures taken to ensure sample security.	Samples are bagged onsite under supervision of Solis staff, bags are then sealed and couriered to the relevant laboratories with all relevant submission documentation. 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 of the available geological and other publicly available data.

 

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.	Mineral tenure in Peru held by Solis is currently in good standing. A table of tenements currently under application or which have been granted is included in this release as APPENDIX 2 "Mining concessions table".
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	The Cinto Project has had no systematic exploration carried out by previous owners.
Geology	Deposit type, geological setting and style of mineralisation.	Prospective potential mineralisation is interpreted to be hosted along the eastern margin of the coastal Cretaceous batholith, porphyry style mineralisation has the potential to form along this major regional trend.
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.	No data aggregation was used in reported exploration results.
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').	No drillhole or intercept data is reported in this announcement
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 including GPOS coordinates on local projection.
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.	No drill assay results were reported in this announcement.
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 Company is not aware of any other substantive exploration data relevant to its activities.
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.	The Priority for Solis is the EIA and drill permitting which will progress on the Chancho al Palo and Ilo Este assets throughout the year, Solis will commence drill permitting processes at Cinto and advance where possible utilising non- invasive techniques on application areas and whilst awaiting drill permitting.

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215766

FAQ

What recent discoveries were made at the Cinto Project?

Recent discoveries at the Cinto Project include surface grab samples with assays up to 7.14% Cu, with mineralization mapped over a 200m x 100m area.

What is the significance of the Cinto Project's geological location?

The Cinto Project is positioned on a significant fault system related to the massive Toquepala porphyry system, indicating potential for substantial copper mineralization.

What are the future plans for the Cinto Project?

Future plans for the Cinto Project include ongoing drone magnetometer and geological mapping to guide drill permitting and comprehensive geophysical studies to evaluate primary drill targets.

How does the Cinto Project compare to other Solis assets?

The Cinto Project boasts similar geochemical signatures and base metal concentrations to the massive Toquepala deposit, making it a high-quality exploration target like Ilo Este and Chancho al Palo.

What is the stock symbol for Solis Minerals ?

The stock symbol for Solis Minerals is SLMFF.