SLM releases promising results from Cinto Project in Peru

Published 23-APR-2025 12:44 P.M.

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Today our Peruvian copper Investment Solis Minerals (ASX: SLM) released promising results from its Cinto Project in Peru, which we think potentially points to a significant copper porphyry system in one of the world's most productive copper regions.

Drilling is coming up in Q3-Q4.

Here are the key bits of information for us:

Channel 11 returned 26.5m @ 0.28% Cu, including 5.4m @ 1.0% Cu
Porphyry copper mineralisation indicated across a potential 3km x 0.75km area
Induced polarization (IP) survey planning underway to support drill target definition
Permitting initiated for drilling at Cinto in the second half of 2025
The big one for us: SLM says it has mineralisation styles consistent with the nearby large-scale Toquepala copper mine

All up we really like this update from SLM, especially on that last point above, because Toquepala is a massive copper mine in Peru operated by $110BN capped Southern Copper.

We noted in particular that SLM has pending tenement applications to the north of its existing ground at Cinto which, if granted, would take SLMs ground to within a shorter distance of the Toquepala mine pit:

Toquepala is one of Peru’s oldest and largest copper producing mines (200ktpa).

Additionally, the copper mineralisation SLM has found at Cinto so far is mainly in breccias, the major mineralisation host at Toquepala, 15km northwest of Cinto.

This isn’t the first time Cinto has turned up strong mineralisation without a drill bit going in, In a July 2024 announcement SLM showed off some vividly coloured copper grab samples with grades as high as 7%:

(Source)

While Cinto drilling isn’t planned until Q3-Q4 of this year, we think Cinto is shaping up very nicely.

Drilling at other projects is imminent, be sure to read the note further below to get a full picture of what we can expect from SLM.

What’s next for SLM?

In February, SLM released a timeline for drilling at each project:

🔄 Drilling

The main news we will be looking out for over the coming months will be drilling on Ilo Este and Chancho Al Palo.

SLM expects drilling to take 2-4 months (including assay turnaround times).

So we could see some results come in before the end of Q3.

🔄 Permitting

SLM has a drill permit for Chancho al Palo.

We are still waiting for permitting on SLM’s other three main targets for the year.

Here’s what's still to come:

Drill permits for Ilo Este - anticipated to be a few weeks away
Drill permits for Cinto
Drill permits for Chocolate

🔄 Additional exploration work to firm up drill targets

SLM plans to conduct further induced polarization (IP) surveys at Cinto to refine drill targets, with a first-pass drill program anticipated for 2025.

Read our latest note on SLM below: