Solis Minerals (ASX:SLM) - CEO, Jason Cubitt
CEO, Jason Cubitt
Source: Jason Cubitt/LinkedIn
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  • Solis Minerals (SLM) completes the fourth hole in the first phase drilling program at its Mostazal copper project in Chile
  • All four holes successfully encountered broad zones of copper sulphide mineralisation, supporting the potential for the existence of a large copper system at Mostazal
  • Logging of the fourth hole is complete and indicates that it intersected mainly porphyritic amygdaloidal and andesitic volcanic rocks as well as widespread sulphide mineralisation
  • While Solis waits on the results from these four holes, it is undertaking a more detailed geophysical program to refine the targeting strategy for the second round of drilling
  • Solis shares were down 2.17 per cent, trading at 22.5 cents

Solis Minerals (SLM) has completed the fourth hole in the first phase drilling program at its Mostazal copper project in Chile.

All four holes successfully encountered broad zones of copper sulphide mineralisation, supporting the potential for the existence of a large copper system at Mostazal.

Logging of the fourth hole is complete and indicates that it intersected mainly porphyritic amygdaloidal and andesitic volcanic rocks.

The logging also highlighted widespread sulphide mineralisation from traces to one per cent sulphides observed from the surface to the bottom of the hole.

The sulphide minerals observed include chalcopyrite, bornite, lesser pyrite and primary chalcocite.

Hole MODD004 was designed to test the continuity of the manto-style mineralisation to the eastern part of the Mostazal manto deposit where very little drilling has occurred.

It was drilled to a depth of 446.1 metres and lies east of the main zone of the mantos mineralisation where mineralisation is observed on the surface and in small-scale underground mines.

While Solis waits on the results from these four holes, it is undertaking a more detailed and deeper-penetrating geophysical program to refine the targeting strategy for the second round of drilling.

“This first phase of drilling was designed to test the presence and extent of copper sulphide mineralisation in both previously explored near-surface manto structures as well as a deeper ‘feeder’ target,” CEO Jason Cubitt said.

“It’s clear from mineralisation observed in drill core that a large copper-bearing system is
present at depth and appears to be related to mineralisation reported near surface.

“We are encouraged by the potential size of the mineralised system at Mostazal, especially at depths never before tested on the project.”

Solis shares were down 2.17 per cent, trading at 22.5 cents at 12:50 pm AEST.

SLM by the numbers
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