SOLIS MINERALS LTD. Drilling of the Company's third diamond hole MODD003 is now complete, and logging indicates that the hole has potentially intersected a large, deep copper sulphide mineralisation system of over 250m in thickness, with the field team logging pyrite, chalcopyrite, bornite and chalcocite sulphides occurring as amygdales, disseminations, fracture fillings (Figure 1), or in veinlets throughout this zone. The significance of this sulphide mineralisation is under assessment by the Company's geology team, with detailed logging underway and assays yet to be received.
Hole MODD003, a deep vertical hole (drilled to 528m) to the southeast of the previous two holes drilled by the Company, was designed to test a broad IP geophysical target which the Company has interpreted to represent a potential feeder system for the widespread near surface manto copper mineralisation (Figure 2 and Figure 3)
CEO
'Drilling of our initial campaign of diamond holes at Mostazal is progressing very well. We have intersected widespread copper sulphide mineralisation in all three holes completed to date, with our latest hole MODD003 the deepest hole drilled at the project thus far.
'We are working to understand the significance of the over 250m sulphide zone in MODD003 and, while we have not yet seen the typical alteration system that we would expect to see associated with our original porphyry target, we are extremely encouraged by the significant size of the mineralisation system we have intersected. The addition of detailed down hole geophysical data together with the assay results from sampling of this core will be required to better understand the extent of the mineralised system at Mostazal. The Company is also planning to conduct Induced Polarization (IP) and/or Magnetotellurics (MT) geophysical surveys down to 500m depth or more to better assist in the hunt for the main feeder system.
'These first drill holes were designed to test the near surface manto-style mineralisation encountered in the historical drilling, and our logging has confirmed the presence of widespread alteration and disseminated copper sulphide mineralisation throughout all three holes completed so far.
'The drill rig has now moved onto MODD004, our last planned hole of this initial phase of drilling. This drillhole is targeting a high-tenor copper-in-soil anomaly to the east of the main manto mineralisation and mining area and may represent the eastern extension of the known mineralisation or the surface expression of a separate mineralised system below the main manto stacked lenses.'
Preliminary assessments of the core from MODD003 show copper sulphides over an interval of approximately 250m starting from a depth of approximately 270m, which appears to correlate with the core of the modelled geophysical IP chargeability anomaly (Figure 2).
The Company is currently engaged in discussions with local down-hole geophysical contractors in
Lithologies intersected in MODD003, were again similar to those in MODD001 and MODD002 with a series of altered (haematite/chlorite/albite), amygdaloidal to fragmental porphyritic andesites throughout the hole; with a zone of approximately 20m containing a series of fine grained, locally highly fractured micro-diorite intrusive dykes from 344m (Figure 1).
Drilling has now commenced on MODD004 located to the east of the Company's previous holes, where existing surface geochemistry has highlighted a large high-tenor copper-in-soil anomaly (Figure 3 and Figure 4). Recent reconnaissance of this area has confirmed the presence of artisanal mining in the area, with a number of separate manto lodes being exploited. Despite these obvious signs of mineralisation, this eastern area has remained relatively untested by previous explorers.
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The information in this ASX release in relation to Geological Information and Exploration Results is based on and fairly represent information compiled by Mr
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