Solis Minerals has made a decisive leap in its Peruvian copper-gold exploration with the acquisition of the Cucho Project and a successful $5.9 million capital raise, setting the stage for an active 2026 drilling campaign.
- Acquisition of Cucho Copper Project with option for 100% ownership
- Positive assay results confirming broad copper-gold-molybdenum mineralisation at Ilo Este and Chancho al Palo
- Drill permits granted for Cinto Project; drilling planned for multiple high-priority targets
- Completed $5.9 million capital raise including insider participation
- Transitioned primary listing to Australia and revised financial year-end to December
Strategic Expansion in Peru
Solis Minerals has marked a transformative quarter with the acquisition of the Cucho Copper Project in Peru, a large-scale porphyry system rich in copper, molybdenum, and silver. This addition complements its existing portfolio in the prolific southern Peru coastal belt, a region attracting major mining players like Fortescue, Vale, and Newmont. The company’s new 3D geophysical modelling and surface geochemistry have identified compelling drill targets, with a diamond drilling campaign anticipated in the second quarter of 2026.
Encouraging Drilling Results
Assay results from Solis’ ongoing drilling at Ilo Este have confirmed broad zones of elevated copper, gold, and molybdenum, reinforcing the presence of a large and complex porphyry system. Notably, high-tenor copper sulphides such as bornite and chalcopyrite suggest proximity to higher-grade mineralisation. Meanwhile, drilling at Chancho al Palo has revealed promising gold intercepts, although copper zones remain narrow and sporadic at this early stage.
Advancing Permitting and Exploration
The company has secured drilling permits for the Cinto Project, located near the world-class Toquepala copper mine, with a maiden diamond drilling program planned to test multiple geophysical and geochemical anomalies. Solis is also expanding its exploration footprint with new concession applications adjacent to Cucho, aiming to unlock further potential in this highly prospective district.
Corporate Strengthening and Market Positioning
In a strategic move, Solis Minerals has transitioned its primary market listing to Australia, aligning its financial year-end to December to better suit its business operations. The company successfully completed a $5.9 million capital raise from institutional and sophisticated investors, including significant contributions from its Chairman and CEO. This funding boost, combined with a cash balance of $4.2 million at quarter-end, positions Solis well to advance its exploration agenda throughout 2026.
Leadership and Future Outlook
The appointment of Anthony Greenaway, a seasoned geologist with extensive Latin American mining experience, to the board adds depth to Solis’ leadership as it pursues multiple exploration targets across South America. With drilling programs ramping up and a strengthened balance sheet, the company is poised to deliver on its promise of discovering the next generation of copper-gold deposits in a globally critical mineral region.
Bottom Line?
With fresh capital and a robust project pipeline, Solis Minerals is set to intensify its exploration push in Peru, but the market will watch closely for drill results and permitting progress.
Questions in the middle?
- How will the upcoming Cucho drilling results influence Solis Minerals’ valuation and investor confidence?
- What are the potential impacts of regulatory delays on the timing of drilling campaigns, especially at Cinto?
- Can Solis Minerals leverage its Australian listing to attract further institutional investment for accelerated growth?