Mr. Daniel Earle reports
SOLARIS ADDS TO NEAR SURFACE, HIGH-GRADE NORTHEAST AND SOUTHEAST EXTENSIONS, PRIORITIES FOR FURTHER GROWTH BEYOND MINERAL RESOURCE
Solaris Resources Inc. has released assay results from a series of additional holes from mineral resource growth drilling at its Warintza project in southeastern Ecuador.
Highlights are listed below, with detailed results in the "Assay results" table. A dynamic 3-D model is available on the company's website and will be updated to incorporate the most recent results.
Additional drilling has expanded the growing northeast extension area, which remains open with follow-up and stepout drilling under way. This zone is characterized by near-surface, high-grade mineralization as detailed below, at the northeastern limit of drilling at Warintza Central and represents a priority target for further growth.
SLS-54 was collared at the northeastern limit of the grid and drilled into an open volume near surface, returning 356 metres of 0.73 per cent copper equivalent (CuEq) from 50 metres depth within a broader interval of 1,093 metres of 0.56 per cent CuEq from surface.
This follows from near surface, high-grade mineralization previously reported (refer to press releases dated Feb. 28, 2022, Dec. 14, 2021, and Oct. 25 and Oct. 12, 2021) from:
- SLS-49 -- 396 m of 0.70 per cent CuEq from 50 m depth within 817 m of 0.60 per cent CuEq;
- SLS-48 -- 100 m of 1.64 per cent CuEq from 50 m depth within 852 m of 0.56 per cent CuEq;
- SLS-42 -- 740 m of 0.60 per cent CuEq from 52 m depth within 906 m of 0.53 per cent CuEq;
- SLS-38 -- 244 m of 0.70 per cent CuEq from 58 m depth within 822 m of 0.35 per cent CuEq;
- SLS-34 -- 242 m of 0.67 per cent CuEq from 52 m depth within 660 m of 0.47 per cent CuEq;
- SLS-32 -- 372 m of 0.64 per cent CuEq from 46 m depth within 618 m of 0.48 per cent CuEq.
- Follow-up drilling from existing platforms is under way, with a 260-metre northeast stepout platform recently completed and a second platform stepping out further to the northeast under construction.
Additional drilling has expanded the growing southeast extension area, which remains open in near surface, high-grade mineralization.
- SLS-52 was collared on the eastern side of the grid and drilled southeast into an open volume near surface, returning 482 m of 0.62 per cent CuEq from 96 m depth within a broader interval of 977 m of 0.45 per cent CuEq from near surface that infilled drilling at depth.
- SLS-53 was collared from a southeastern platform and drilled south into an open volume near surface, returning 176 m of 0.78 per cent CuEq from 16 m depth within a broader interval of 957 m of 0.46 per cent CuEq from 10 m depth that infilled drilling at depth.
- This follows from near-surface, high-grade mineralization previously reported (refer to press releases dated Feb. 28, 2022, Dec. 14, 2021, and Nov. 15, 2021) from:
- SLS-45 -- 236 m of 0.56 per cent CuEq from 44 m depth within 564 m of 0.41 per cent CuEq;
- SLS-39 -- 368 m of 0.73 per cent CuEq from 90 m depth within 915 m of 0.56 per cent CuEq;
- SLS-35 -- 326 m of 0.80 per cent CuEq from 50 m depth within 920 m of 0.62 per cent CuEq.
- Additional platform construction to support follow-up and stepout drilling to test the further southeast extension of near surface, high-grade mineralization is planned, following the release of the updated mineral resource estimate.
- SLS-51 was collared from the south-central portion of the grid and drilled east into an open volume at surface, returning 918 m of 0.50 per cent CuEq from 130 m depth within a broader interval of 1,012 m of 0.47 per cent CuEq from near surface that infilled drilling at depth.
An updated Warintza Central mineral resource estimate is expected to be issued in April.
To date, 62 holes have been completed at Warintza Central, with assays reported for 54 of these.
Mr. Jorge Fierro, vice-president of exploration, commented: "These final holes expand on two key growth areas with near surface, high-grade mineralization on the edge of resource drilling that remains open. These holes will be included in the forthcoming resource update; further extensions to the northeast and southeast represent priority targets for further growth with stepout drilling commencing shortly."
Technical information and quality control and quality assurance
Sample assay results have been independently monitored through a quality control/quality assurance (QA/QC) program that includes the insertion of blind certified reference materials (standards), blanks and field duplicate samples. Logging and sampling are completed at a secured company facility located in Quito, Ecuador. Drill core is cut in half on site and samples are securely transported to ALS Labs in Quito. Sample pulps are sent to ALS Labs in Lima, Peru, and Vancouver, Canada, for analysis. Total copper and molybdenum contents are determined by four-acid digestion with AAS finish. Gold is determined by fire assay of a 30-gram charge. In addition, selected pulp check samples are sent to Bureau Veritas lab in Lima, Peru. Both ALS Labs and Bureau Veritas lab are independent of Solaris. Solaris is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. ZTEM data quality was validated by a qualified external professional using data validation procedures under high industry standards, and the company therefore did not deem it necessary to have such ZTEM data verified by a qualified person. Analytical data for the surface samples collected are from recent interpretations derived from ZTEM data and from previous operators as detailed in the technical report entitled, "Resource estimate of the Warintza Central Cu-Mo porphyry deposit" prepared by Equity Exploration Consultants Inc. with an effective date of Dec. 13, 2019, and available on the company's SEDAR profile and website. The drill hole data have been verified by Mr. Fierro, MSc, DIC, PG, using data validation and quality assurance procedures under high industry standards.
The scientific and technical content of this press release has been reviewed and approved by Mr. Fierro, MSc, DIC, PG, vice-president of exploration of Solaris who is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Fierro is a registered professional geologist through the SME (registered member No. 4279075).
About Solaris Resources Inc.
Solaris is advancing a portfolio of copper and gold assets in the Americas, which includes: a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to $130-million (U.S.) spending/five-years through a farm-out agreement with Freeport-McMoRan on the Ricardo project in Chile; and significant leverage to increasing copper prices through its 60-per-cent-interest in the La Verde joint-venture project with Teck Resources in Mexico.
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