SLM to run geophysical surveys over Copper assets in Peru

Published 23-JUL-2024 14:46 P.M.

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Our micro cap exploration Investment Solis Minerals (ASX: SLM) is getting closer to a drill program at one of its Peruvian copper assets.

SLM holds a ~43,500 ha landholding in Peru where it is chasing large copper porphyry’s.

Today, SLM signed up a drone magnetic contractor for its Guaneros Project.

The whole purpose of the survey is to check for magnetic features that might represent areas on the project where there is copper mineralisation.

At a very high level it's SLM’s way of finding colourful blobs that may contain copper.

SLM expects the program to start in early August with results expected later in the month.

(🎓Learn more about EM surveys here: Electromagnetic (EM) Surveys Explained)

SLM’s Guaneros project sits in the middle of two projects where the company already has drill ready targets - Ilo Norte and Ilo Este.

SLM is currently working on drill permitting at Ilo Este and Ilo Norte.

Drilling at those projects could happen at some stage this year pending those permits.

We are looking forward to that drill program given SLM’s projects sit next to an existing smelter, copper refinery and two existing mines:

How today’s news relates to our SLM Investment Memo:

Objective #1: Geophysical surveys across earlier stage copper projects in Peru
We want to see SLM rank more drill targets across its earlier stage copper assets in Peru.

Milestones
🔲 Geophysical surveys commence
🔲 Geophysical survey results
🔲 NEW drill targets identified

Source: “What do we expect SLM to deliver” section - SLM Investment Memo 9 July 2024

SLM’s announcement today directly relates to objective #1 from our SLM Investment Memo which is to see the company rank some drill targets across its Peruvian copper assets.

With the surveys expected to start in August we are looking forward to seeing if SLM can rank any interesting drill targets over the next few months.