Solis Minerals Limited (ASX: SLM) (TSXV: SLMN) (OTCQB: WMRSF) (FSE: 08W) has announced its Quarterly Report for the three months ending 31 May 2024.

Highlights

– Copper drill targets submitted for permitting in Chanco al Palo and Ilo Este, Southern Peru
– Magnetometry surveys at Guaneros, scheduled to start in August
– Surface copper mineralisation identified at Cinto with a magnetometry survey programme
– Pipeline of drill testing multiple targets taking shape with the first permit expected in Q4 this year

Peru Copper Projects

During the Quarter, Solis Minerals added the 6,400-hectare Guaneros project in southern Peru. Permit applications for drilling at Chancho Al Palo and Ilo Este were submitted. Drilling at Chancho Al Palo is expected in late 2024, subject to permitting, and will continue into 2025. Plans for submitting drilling applications for Cinto and Guaneros will follow after geophysical studies.

Chancho Al Palo (Ilo Norte)

Completed geological mapping and drone magnetometry survey at Chancho Al Palo. An Induced Polarisation (IP) study identified primary drill targets. Drill permitting submitted in May, with approval expected in Q4 2024.

Ilo Este Project

Progress at Ilo Este includes analysis of drone magnetometry survey results. Environmental monitoring programs are underway, with drilling anticipated in Q1 2025, subject to permits.

Cinto Project

A geochemical programme at Cinto identified high-grade samples up to 7.14% copper. Initial mapping identified copper oxides. Drone magnetometry survey to commence in August, followed by IP programme for target development and drill hole design.

Guaneros Project

The 6,400-hectare Guaneros project is located between Chancho al Palo and Ilo Este Projects. Initial assays on hand specimens are underway. Drone magnetometer survey to commence in early August for targeting exercise.

Brazil Lithium Projects

Borborema

843 geochemical soil samples were taken at Borborema, with no significant lithium suite minerals found. Further expenditure on geochemical sampling halted pending mapping of all tenements.

Corporate

The Company has a current cash balance of approximately AUD $4.4 million to advance its portfolio of exploration assets.

About Solis Minerals Ltd.

Solis Minerals is focused on unlocking the vast potential of its South American critical minerals portfolio. The company holds 47 exploration concessions for a total of 37,100Ha. Solis has a strong team with excellent experience across the mining lifecycle in South America. It is positioned to capitalise on growth opportunities within the mineral-rich region.

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