SLM’s Diamond Drill Rig on Site in Peru

Our Peruvian copper exploration Investment Solis Minerals (ASX:SLM) has kicked off its diamond drilling program at the Chancho al Palo project in Peru.

A 2,500m program is about to begin, targeting multiple porphyry and IOCG anomalies identified from earlier geophysical and geochemical work.

Here is the safe arrival of the diamond drill rig on site - not a lot of vegetation to get through here.

This is the first time Chancho al Palo has ever been drilled.

Maybe the ~$13M market capped SLM can make a new copper-gold discovery?

Another ASX listed company AusQuest drilled its project to the north of SLM in Peru and has more than 7 bagged off the back of good drill results 5 months ago - and has remained up at its highs.

Ausquest is still capped at $68M.

(The past performance of Ausquest is not and should not be taken as an indication of future performance of SLM).

SLM’s project sits just 25km from Southern Copper’s refinery and smelter - Peru’s largest copper producer - and only 10km from the coast.

First assay results are expected in July 2025.

Drilling at Ilo Este, another of SLM’s copper exploration projects in Peru, is expected to begin in June pending final permits.

SLM CEO Mitch Thomas is heading to Peru this weekend to oversee the drill program across both projects.

Read our most recent deep dive SLM note: SLM: Set to drill two copper-gold targets in Peru at Chanco Al Palo and Ilo Este. Drill results in ~8 weeks?