22:14:25 EDT Sun 28 May 2023
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or Name

Solaris Resources Inc
Symbol SLS
Shares Issued 113,417,442
Close 2022-07-19 C$ 6.81
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Solaris drills 472 m of 0.76% CuEq at Warintza

2022-07-20 08:15 ET - News Release

Mr. Daniel Earle reports


Solaris Resources Inc. has released assay results from a series of holes aimed at growing the northeast extension of the indicative starter pit at its Warintza project in southeastern Ecuador.


Additional drilling has expanded the northeast extension of the indicative starter pit, recently estimated at 180 million tonnes at 0.82 per cent copper equivalent (indicated) and 107 million tonnes at 0.73 per cent CuEq (inferred), within the Warintza mineral resource estimate. This zone is characterized by near-surface, high-grade mineralization and remains open for further growth, with follow-up and stepout drilling under way:

  • SLS-62 was collared at the northern limit of Warintza Central and drilled northeast into an open volume, returning 168 metres of 0.68 per cent CuEq from 102 m depth within a broader interval of 900 m of 0.45 per cent CuEq from surface, expanding on prior drilling farther to the east.
  • This hole represents the first follow-up to SLS-48, collared from the same pad but drilled to the south, which returned 100 m of 1.64 per cent CuEq from 50 m depth within a broader interval of 852 m of 0.56 per cent CuEq (refer to press release dated Feb. 28, 2022).
  • SLS-63 was collared at the northeastern limit of the Warintza Central grid approximately 200 m to the east and drilled into an open volume to the north-northeast, returning 230 m of 1.02 per cent CuEq from 118 m depth within a broader interval of 472 m of 0.76 per cent CuEq from surface.
  • This hole follows on SLS-57, which was drilled northeast from the same pad, returning 230 m of 0.73 per cent CuEq from 56 m depth within a broader interval of 926 m of 0.61 per cent CuEq from surface, and SLS-54, drilled to the south and returning 356 m of 0.73 per cent CuEq from 50 m depth within a broader interval of 1,093 m of 0.56 per cent CuEq from surface (refer to press releases dated May 26 and April 4, 2022).
  • Follow-up drilling is under way and aims to test the northeast extension zone farther to the north and northeast, with assays expected shortly for SLS-64, representing a follow-up hole from the same pad as SLS-62 and SLS-48.

Jorge Fierro, vice-president, exploration, commented, "Ongoing drilling from existing and newly constructed platforms aims to expand on the northeast extension zone, which is one of the key target areas for the expansion of the indicative starter pit, along with higher-grade, near-surface mineralization being targeted at Warintza East, where results are pending."

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 assets in the Americas, focused on its Warintza project in Ecuador, which features a broad cluster of outcropping copper porphyry deposits anchored by a large-scale, high-grade, open-pit resource inventory at Warintza Central. Continuing efforts are focused on rapid resource growth and further discovery drilling. The company offers additional discovery potential through its portfolio projects: Capricho and Paco Orco in Peru; Ricardo via joint venture with Freeport-McMoRan and Tamarugo in Chile; and significant leverage to increasing copper prices through its 60-per-cent interest in the La Verde joint venture with Teck Resources in Mexico.

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