Highlights
Completion of capital raising for a total of
Successful listing on the
Appointment of Mr.
Commencement of its highly anticipated maiden drilling program at the
Subsequent to the end of the quarter, on
The Company raised a total of
Upon closing, the Company had in excess of
Net proceeds from the IPO will be primarily allocated to funding the drill program at the Company's 100%-optioned
On the 24th January, the 2,900m drilling program commenced at Mostazal Copper project targetting manto-style copper mineralisation near surface, as well as porphyry structures at depth.
The Quebrada exploration concessions staked by Solis around Mostazal have been granted and are being registered.
New Copper-prospective concessions in
Mostazal Copper Project Summary
The Mostazal property is located 80 kilometres (km) northeast of
The first program of drilling which commenced in late January is expected to continue through until mid-March, with approximately 2,900 metres diamond drilling in two phases, targeting both porphyry and manto-style copper mineralisation.
As well as testing the copper at near surface, the Company will be undertaking the first-ever drill testing of an interpreted porphyry feeder system underlying a 4 km by 2.5 km, north-south-trending, belt of outcropping copper mineralisation, small-scale mine workings, and geochemical and geophysical anomalies. Four main target areas have been identified on the basis of historical drilling, geochemical and geophysical surveys, and structural interpretation and modelling.
The Mostazal West target (Target Area 1) is located immediately west of stacked copper-bearing Manto lenses. It is characterised by the presence of a magnetic low and chargeability high geophysical anomalies. The Company is targeting a potential source of copper mineralisation beginning at a depth of 300 metres - about 100 metres deeper than prior drilling and immediately adjacent to the area of recent exploitation. The Central target (Target Area 2) is located immediately beneath known Manto copper lenses where historical, relatively shallow drilling to a depth of approximately 150m has encountered wide zones of high-grade copper mineralisation. The Company is targeting to penetrate through stacked copper-bearing Manto lenses to test for an interpreted buried porphyry/ feeder structure beginning at a depth of approximately 300 metres.
About
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Tel: +01 (604) 209 1658
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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