13:55:24 EDT Thu 08 Jun 2023
Enter Symbol
or Name

Solaris Resources Inc
Symbol SLS
Shares Issued 108,850,567
Close 2022-04-08 C$ 14.09
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Solaris drills 616 m of 0.6% CuEq at Warintza

2022-04-11 08:35 ET - News Release

Mr. Daniel Earle reports


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 herein, with detailed results in an attached table.

Key takeaways

Since the discovery of Warintza East in mid-2021, approximately one kilometre east of Warintza Central, limited drilling has been completed on the open area between the two deposits that would fall into the eastern sector of the conceptual pit design for Warintza Central as uncategorized waste. These results now establish continuity of mineralization between the two deposits, with Warintza East remaining entirely open and undrilled to the north, south and east for future potential growth:

  • SLSE-06 was collared from the original platform in the middle of Warintza East and drilled west-northwest into an entirely open volume, returning 484 metres of 0.42 per cent copper equivalent from surface.
  • SLSE-08 was collared from the same platform and drilled northwest into an open volume, returning 142 m of 0.65 per cent CuEq from near surface within a broader interval of 536 m of 0.43 per cent CuEq from surface.
  • SLSE-04 was collared between Warintza Central and Warintza East, and drilled west-southwest into a partially open volume, returning 616 m of 0.63 per cent CuEq from 276 m depth within a broader interval of 892 m of 0.5 per cent CuEq from surface, establishing the overlap of the two deposits within the Warintza Central pit shell.
  • SLSE-03 was collared from the same platform and drilled west-northwest into a partially open volume, returning 326 m of 0.62 per cent CuEq from 276 m depth within a broader interval of 818 m of 0.38 per cent CuEq from 38 m depth, further confirming the overlap of the two deposits.
  • SLSE-05, collared from the same platform, was drilled north-northwest into a partially open area, returning 268 m of 0.53 per cent CuEq from 446 m depth within a broader interval of 714 m of 0.32 per cent CuEq from surface.

Updated Warintza Central mineral resource estimate expected to be issued in April

To date, 62 holes have been completed at Warintza Central, with assays reported for 54 of these, and eight holes have been completed at Warintza East, with results reported for all holes.

Jorge Fierro, vice-president of exploration, commented, "Following the final Warintza Central results released April 4, these results represent the final holes from Warintza East to be included in the forthcoming mineral resource update and serve to convert what would otherwise be uncategorized waste within the expected pit shell in the area where Warintza Central and Warintza East overlap."

Technical information and quality assurance/quality control

Sample assay results have been independently monitored through a quality assurance/quality control 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 in Quito. Sample pulps are sent to ALS 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 in Lima, Peru. Both ALS and Bureau Veritas 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. The drill hole data have been verified by Jorge Fierro, MSc, DIC, PG, using data validation and quality assurance/quality control procedures under high industry standards.

Qualified person

The scientific and technical content of this press release has been reviewed and approved by Jorge Fierro, MSc, DIC, PG, vice-president of exploration at Solaris, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Fierro is a registered professional geologist through SME (registered member No. 4279075).

About Solaris Resources Inc.

Solaris is advancing a portfolio of copper and gold assets in the Americas, including: a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grassroots Tamarugo project in Chile and the Capricho and Paco Orco projects in Peru; exposure to $130-million (U.S.) spending over five years through a farmout 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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