02:54:19 EST Mon 26 Feb 2024
Enter Symbol
or Name

Solaris Resources Inc
Symbol SLS
Shares Issued 122,660,841
Close 2023-01-16 C$ 6.74
Market Cap C$ 826,734,068
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Solaris drills 914 m of 0.4% CuEq at Warintza

2023-01-17 10:48 ET - News Release

Mr. Daniel Earle reports


Solaris Resources Inc. has released assay results from a series of holes aimed at growing mineral resources at the Warintza East discovery within its Warintza project in southeastern Ecuador. Highlights are listed below, with a corresponding image in Figure 1 and results in Tables 1-2.


Warintza East was discovered in July 2021, with eight holes covering the overlapping periphery included in the Warintza Central Mineral Resource Estimate ("MRE") Superscript 1 in April 2022. These follow-up drill results significantly expand the drilled dimensions of the Warintza East footprint to the northeast, east and south, with the deposit remaining open in these directions, most importantly towards strong soil anomalism to the south.

SLSE-16 was collared at the eastern limit of the grid and drilled southwest into an open volume, returning 108m of 0.57% CuEq Superscript 2 within a broader interval of 712m of 0.45% CuEq Superscript 2 from surface, extending mineralization to the south and southeast where it remains open

This hole was collared approximately 250m to the southeast of SLSE-13 (refer to Company press release dated Nov 14, 2022), which previously returned 104m of 0.45% CuEq Superscript 2 from surface within a broader interval of 618m of 0.29% CuEq Superscript 2

SLSE-17 was collared in the middle of the Warintza East drill grid and drilled southeast into an open volume, returning 144m of 0.52% CuEq Superscript 2 from surface within a broader interval of 914m of 0.40% CuEq Superscript 2, extending mineralization to the east where it remains open

This hole extends the drilled dimensions further to the east beyond SLSE-14 (refer to Company press release dated Nov 14, 2022), which previously returned 292m of 0.50% CuEq Superscript 2 from near surface within a broader interval of 694m of 0.40% CuEq Superscript 2

SLSE-19 was collared in the middle of the Warintza East drill grid and drilled northeast into an open volume, returning 270m of 0.40% CuEq Superscript 2 from surface within a broader interval of 580m of 0.31% CuEq Superscript 2, expanding the footprint to the northeast where it remains open

Drilling to date confirms Warintza East as a significant porphyry deposit that adjoins Warintza Central and remains open for expansion, with assays pending from a series of extensional holes to the north, east, south and southeast

Mr. Jorge Fierro, Vice President, Exploration, commented: "Warintza East's largely undrilled footprint is a target for major mineral resource growth in the ongoing drilling program where only minimal drilling was included in the MRE and adjoins with Warintza Central. Assays are pending from further extensional holes to the north and east and targeting strong soil anomalism in step-out drilling to the south."

Figure 1 - Plan View of Warintza East Drilling Released to Date

Technical Information and Quality Control & 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. 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 drillhole data has been verified by Jorge Fierro, M.Sc., 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, M.Sc., 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. Jorge Fierro is a Registered Professional Geologist through the SME (registered member #4279075).

About Solaris Resources Inc.

Solaris is a multi-asset 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 grass-roots 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% interest in the La Verde joint-venture project with a subsidiary of Teck Resources in Mexico.

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