22:16:55 EDT Sun 28 May 2023
Enter Symbol
or Name

Solaris Resources Inc
Symbol SLS
Shares Issued 114,493,693
Close 2022-10-13 C$ 5.45
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Solaris drills 686 m of 0.46% CuEq at Warintza

2022-10-13 09:36 ET - News Release

Mr. Daniel Earle reports


Solaris Resources Inc. has released assay results from the first series of holes following up on the discovery of Warintza West within its Warintza project in southeastern Ecuador. Highlights are listed as follows and detailed results are shown in the attached table.


Warintza West is one of four discoveries made to date within the Warintza porphyry cluster and is located one kilometre west of the Warintza Central mineral resource estimate (MRE) reported in April. The discovery was reported with the results of SLSW-01 (see press release dated Feb. 16, 2021); these follow-up holes fan out in all directions, outlining a broad porphyry deposit of at least 900 metres by 600 metres and that is still open and lies adjacent to and not included within the MRE. Follow-up drilling to test the further extent of the deposit is planned after priority drilling at Warintza Central aimed at expanding the starter pit and higher-grade resource expansion potential at Warintza East:

  • SLSW-07 (drilled north) returned 686 metres of 0.46 per cent copper equivalent within a broader interval of 912 metres of 0.41 per cent copper equivalent from near surface.
  • SLSW-02 (drilled vertically) returned 246 metres of 0.47 per cent copper equivalent from near surface.
  • SLSW-09 (drilled west) returned 202 metres of 0.45 per cent copper equivalent within a broader interval of 444 metres of 0.36 per cent copper equivalent from near surface.
  • SLSW-08 (drilled northwest) returned 78 metres of 0.56 per cent copper equivalent within a broader interval of 812 metres of 0.32 per cent copper equivalent from near surface.
  • SLSW-04 (drilled northeast) returned 264 metres of 0.44 per cent copper equivalent from near surface.
  • SLSW-10 (drilled southwest) returned 220 metres of 0.41 per cent copper equivalent from near surface.
  • SLSW-03 (drilled southeast) returned 102 metres of 0.39 per cent copper equivalent within a broader interval of 911 metres of 0.24 per cent copper equivalent from near surface.
  • SLSW-05 (drilled northeast) returned 272 metres of 0.38 per cent copper equivalent within a broader interval of 570 metres of 0.30 per cent copper equivalent from near surface.
  • SLSW-06 (drilled east) returned 732 metres of 0.32 per cent copper equivalent from near surface.
  • Drilling at Warintza West confirms the interpretation of a broad porphyry deposit that remains open in all directions, with assays pending from a series of three additional holes testing the zone farther to the west, east and south.
  • Stepout drilling is planned, targeting high-grade surface sampling.

Jorge Fierro, vice-president, exploration, commented: "We're pleased to be able to report the results of follow-up drilling on our Warintza West discovery, which outlines a significant new deposit that remains open within the Warintza porphyry cluster, adjacent to the MRE published in April. Ongoing drilling is targeting growth of the high-grade starter pit at Warintza Central and expanding our Warintza East discovery with results expected in the coming weeks, while further drilling is planned for Warintza West."

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's lab in Quito. Sample pulps are sent to ALS's 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's lab 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. ZTEM (Z-axis tipper electromagnetic) 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. Details on the surface sampling conducted at the project are set out in the technical report, titled "NI 43-101 Technical Report for the Warintza Project, Ecuador," with an effective date of April 1, 2022, prepared by Mario E. Rossi and available on the company's SEDAR profile and website. The drill hole data have been verified by Jorge Fierro, MSc, DIC, PG, using data validation and quality assurance 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, 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 (Society for Mining, Metallurgy & Exploration) (registered member No. 4279075).

About Solaris Resources Inc.

Solaris is a multiasset exploration company, advancing a portfolio of copper and gold assets in the Americas, which includes its primary focus, a world-class, large-scale resource with expansion and discovery potential at the Warintza project in Ecuador; discovery potential at its Ricardo project and optioned and owned grassroots Tamarugo project in Chile; discovery potential at its Capricho and Paco Orco projects in Peru; and significant leverage to increasing copper prices through its 60-per-cent interest in the La Verde joint venture project with a subsidiary of Teck Resources in Mexico.

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