Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) is pleased to announce a significant new discovery in maiden drilling of the Warintza South target at its Warintza Project in southeastern Ecuador.
Highlights are listed below, with corresponding images in Figures 1-4 and detailed results in Tables 1-2. A dynamic 3D model is available on the Company’s website.
Mr. Jorge Fierro, Vice President, Exploration, commented: “We are delighted to have made a significant new discovery at Warintza South, with the first ever hole returning a long interval of well mineralized copper porphyry. The multi-km dimensions of the target present a large-scale opportunity. Interpretation of the drill core together with recent mapping and sampling provide important vectors for follow-up drilling to be completed once additional access and infrastructure are established.”
Figure 1 – Plan View
Figure 2 – Long Section of 3D Geophysics Looking Southwest
Figure 3 – Long Section of Warintza South 3D Geophysics Looking Northeast
Figure 4 – SLSS-01 Drill Core
Notes to Figure 4: SLSS-01 core interval from 377.03 to 379.15m, averaging 0.74% Cu, 0.04% Mo and 0.05g/t Au. Quartz-diorite intermineral dike is cutting andestic volcanics. Alteration and mineralization is mainly composed of early-stage, halo-type associations with quartz, anhydrite, chlorite, biotite, epidote, pyrite, chalcopyrite, and magnetite cut by A- and B-type Mo-bearing quartz veinlets.
Table 1 – Warintza South Results
|Hole ID||Date Reported||From (m)||To (m)||Interval (m)||Cu (%)||Mo (%)||Au (g/t)||CuEq¹ (%)|
|SLSS-01||Jan 18, 2022||0||755||755||0.28||0.02||0.02||0.36|
Notes to Table 1: True widths cannot be determined at this time.
Table 2 – Collar Location
|Hole ID||Easting||Northing||Elevation (m)||Depth (m)||Azimuth (degrees)||Dip (degrees)|
Notes to Table 2: The coordinates are in WGS84 17S Datum.
(1) No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries is not yet available. Solaris defines copper equivalent calculation for reporting purposes only. Copper-equivalence calculated as: CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of Cu – US$3.00/lb, Mo – US$10.00/lb and Au – US$1,500/oz.
Technical Information and Quality Control & Quality Assurance
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 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. Analytical data for the surface samples collected are from recent interpretations derived from ZTEM data and from previous operators as detailed in the technical report entitled, “Resource Estimate of the Warintza Central Cu-Mo Porphyry Deposit” prepared by Equity Exploration Consultants Inc. with an effective date of December 13, 2019, 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.
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 advancing a portfolio of copper and gold assets in the Americas, which includes: a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to US$130M spending / 5-yrs through a farm-out agreement with Freeport-McMoRan on the Ricardo Project in Chile; and significant leverage to increasing copper prices through its 60%-interest in the La Verde joint-venture project with Teck Resources in Mexico.
Collective Mining Ltd. (TSX-V: CNL) (OTCQX: CNLMF) is pleased to ... READ MORE
Ultra Lithium Inc. (TSX-V:ULT) (OTCQB: ULTXF) (Frankfurt: QFB) is... READ MORE
Discovery Silver Corp. (TSX: DSV) (OTCQX: DSVSF) is pleased to an... READ MORE
SKRR Exploration Inc. (TSX-V: SKRR) (FSE: B04Q) is pleased to an... READ MORE
Robex Resources Inc. (TSX-V: RBX) (FRA: RB4) is pleased to announ... READ MORE
We acknowledge the [financial] support of the Government of Canada.