Solis Minerals Raises $5.9M to Accelerate Peru Copper-Gold Exploration

Exploration Momentum in Peru

Solis Minerals has reported a productive quarter ending 30 September 2025, marked by active exploration across its extensive Peruvian copper-gold portfolio. The company’s diamond drilling campaigns at the Chancho al Palo and Ilo Este projects have yielded promising mineralisation intersections, reinforcing the potential of these early-stage targets.

At Chancho al Palo, initial assays from the first drill hole revealed a notable 19 metres at 0.31 grams per tonne gold starting from 57 metres depth, including higher-grade intervals. While copper grades were modest, the presence of visible gold and sulphide mineralisation supports the prospectivity of the IOCG and porphyry-style mineralisation identified through geophysical surveys.

Meanwhile, the Ilo Este project has delivered broad zones of copper, gold, and molybdenum mineralisation across multiple intervals, consistent with historical data. The discovery of high-tenor copper sulphides such as bornite and chalcopyrite in drill hole IE-002 suggests proximity to a higher-grade porphyry source, a key vector for future targeting. Drilling continues to test northern and southern magnetic anomalies, with assays pending for recent holes.

Strategic Advances and Pipeline Development

The company completed an Induced Polarisation geophysical survey at the Cinto project, identifying three high-priority drill targets near the world-class Toquepala mine. Permitting is underway to commence drilling by December 2025, expanding Solis Minerals’ footprint in this prolific copper belt.

Post-quarter, Solis Minerals announced the acquisition of up to 75% of the Cucho copper project, a complementary asset with historical drilling confirming significant copper mineralisation from surface. The project’s proximity to major players like Element 29 Resources and Fortescue underscores its strategic value. Additional exploration concessions adjacent to Cucho have also been applied for, indicating a commitment to regional consolidation.

Corporate and Financial Highlights

In a move to streamline its operations and enhance liquidity, Solis Minerals voluntarily delisted from the TSX Venture Exchange in June 2025, consolidating its listing on the Australian Securities Exchange. The company also changed its financial year-end to 31 December to better align reporting with business activities.

Financially, the company closed the quarter with A$0.7 million in cash but secured firm commitments for a $5.9 million placement shortly after quarter-end. This capital injection will fund ongoing exploration, the Cucho acquisition, and general working capital. The placement attracted strong support from institutional and sophisticated investors, including participation from the Chairman and CEO.

Corporate governance saw key changes with the appointment of Rachel Kogiopoulos as Chief Financial Officer and the upcoming addition of geologist Anthony Greenaway to the board. These appointments bring significant expertise in mining finance and exploration, positioning Solis Minerals for the next phase of growth.

Looking Ahead

With a robust drilling pipeline extending through 2026 across multiple projects, Solis Minerals is well placed to advance its copper-gold exploration ambitions in Peru’s highly prospective coastal belt. The company’s strategic acquisitions, combined with encouraging early drilling results, set the stage for potential resource discoveries that could underpin future development.