Solis Minerals Ltd. announce the completion of the Induced Polarisation (IP) study at its Ilo Este project Peru. Solis has advanced exploration at the Ilo Este project in Peru. Based on Worldview-3 satellite imaging acquired in late 2022, exploration has focused on altered areas that have not been subject to any drilling. Detailed geological mapping in this zone combined with rock geochemistry surveys1 identified an area of strong potassic alteration in porphyry microdiorites with commonly associated malachite. A Magnetic Vector Inversion (MVI) of 2014 ground magnetometry survey data was undertaken in August 20232 The MVI, carried out by Fathom Geophysics, utilised modern software and filters which outlined a magnetic susceptibility anomaly in the south of the area identified as the Southern Magnetic Anomaly. Other magnetic susceptibility anomalies in the permits, specifically the Northern Magnetic Anomaly, have been drilled by previous explorers and shown to be magnetite-rich areas associated with porphyry copper style mineralisation and alteration. Subsequent to the MVI results, the
Southern Magnetic Anomaly was targeted by an Induced Polarisation (IP) survey in September 2023. The IP survey of total line length 10.5km was conducted in September 2023 by Real Eagle Explorations EIRL of Lima. The high chargeability anomaly (>20mV/V) has dimensions of 1,250m length and 200-400m width. It is detectable from approximately 100m below surface to 500m below surface. The magnetic and IP anomalies have not been previously drilled. A diamond drill hole drilled on its northern margin off the IP anomaly (IE-DDH005-15) returned 291m @0.21g/t Au3 in altered volcanics and porphyritic quartz microdiorites. One RC hole from 2002 (YAR RC hole) was drilled towards the IP anomaly to a depth of 198m. The identity of this hole is uncertain in old databases, but little high-grade mineralisation was viewed in relevant assay files. Inspection of the drill platform during
the IP survey revealed that the drill hole was collared in and drilled sub-parallel to a large (up to 40m wide) barren post-mineral dyke. The source of the Northern Magnetic Anomaly is interpreted from mapping and mineralogy as a deeply eroded porphyry system, and this is supported by its proximity to batholith rocks of the area. In contrast, the Southern Magnetic Anomaly is more distal from the Cretaceous coastal batholith and is associated with rocks of a more porphyritic nature of probable Cretaceous age, intruding older rocks such as the Jurassic Chocolate Formation which are potential mineralisation hosts. The Southern Magnetic Anomaly area is considered to hold considerably more potential to conserve uneroded porphyry-style mineralisation.