13:30:30 EDT Thu 08 Jun 2023
Enter Symbol
or Name

Solaris Resources Inc
Symbol SLS
Shares Issued 122,660,841
Close 2023-02-10 C$ 6.15
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Solaris drills 686 m of 0.46% CuEq at Warintza

2023-02-13 09:27 ET - News Release

Mr. Daniel Earle reports


Solaris Resources Inc. has released updated geochemical sampling and assay results from follow-up holes at Warintza West, within its Warintza project, southeastern Ecuador. Highlights are provided herein, with detailed results outlined in an attached table.


Warintza West, discovered in February, 2021, is one of four discoveries made to date within the Warintza porphyry cluster and is located one kilometre west of and outside the Warintza mineral resource estimate (MRE). The initial reconnaissance holes from a centralized platform have outlined a broad zone of porphyry mineralization, measuring 1,200 m by 700 m, that remains open. Subsequent geochemical sampling has provided vectors toward potentially higher-grade mineralization to the north for stepout drilling:

  • Recent geochemical sampling has identified a new area of strong, overlapping copper and molybdenum anomalies to the north, measuring approximately 1,000 m by 500 m, with soil samples averaging 600 parts per million copper and 80 parts per million molybdenum. This contrasts with the anomaly surrounding the original platform, which is defined by strong Mo values at 65 ppm, but weaker Cu below 400 ppm.
  • This new area of strong soil anomalism represents a potential target for higher-grade mineralization beyond the northern margin of prior exploration drilling (refer to press releases dated Oct. 13, 2022, and Feb. 16, 2021), including:
    • SLSW-07 (drilled north) returned 686 m of 0.46 per cent copper equivalent.
    • SLSW-04 (drilled northeast) returned 264 m of 0.44 per cent CuEq.
    • SLSW-01 (drilled northwest) returned 260 m of 0.42 per cent CuEq.
  • New drill results returned to the south include SLSW-13, which was drilled southwest and returned 320 m of 0.5 per cent CuEq from near surface within a broader interval of 496 m of 0.4 per cent CuEq, extending mineralization to the south, where it remains open and requires stepout drilling.
  • This hole expands on previously reported SLSE-10, which was drilled from the same platform to the southwest and returned 220 m of 0.41 per cent CuEq from near surface (refer to press release dated Oct. 13, 2022).

Jorge Fierro, vice-president of exploration, commented: "First-pass reconnaissance drilling at Warintza West outlined a broad zone of porphyry mineralization, with subsequent sampling identifying new potential for higher-grade mineralization to the north for future stepout drilling. The ongoing drill program is targeting MRE growth within the high-grade starter pit at Warintza Central, where results are expected shortly, and expanding the Warintza East discovery, which adjoins Warintza Central."

Technical information and quality assurance/quality control

Sample assay results have been independently monitored through a quality control/quality assurance 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 the Bureau Veritas laboratory 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. The technical 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 a multiasset exploration company, advancing a portfolio of copper and gold assets in the Americas, including: 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/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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