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Solaris Reports 1,000m of 0.60% CuEq From Surface, Extending Warintza Central to 1,250m Strike Length

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Solaris Reports 1,000m of 0.60% CuEq From Surface, Extending Warintza Central to 1,250m Strike Length

 

 

 

 

 

Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) is pleased to report the latest assay results from ongoing resource expansion drilling at its Warintza Project in southeastern Ecuador.

 

Highlights are listed below, with corresponding images in Figures 1-3 and detailed results in Tables 1-2. A dynamic 3D model is available on the Company’s website and will be updated to incorporate the most recent results.

 

Highlights

  • Additional drill holes have extended the strike length of Warintza Central to 1,250m, exceeding the original scope of planned resource drilling across 1,000m of strike length
  • Warintza Central remains open, with the most recent holes extending mineralization to the east returning some of the strongest intervals reported to date, including SLS-21 (1,029m of 0.73% CuEq¹ from surface, as previously released on May 26, 2021) and SLS-26 reported below
  • Drilling has consistently shown the highest-grade mineralization at Warintza occurs at or near surface, which lends itself to establishing a robust mine plan with elevated grades benefitting the early years of mine life
  • SLS-24 was collared at the southeastern limit of the Warintza Central grid and drilled into an entirely open area due east, returning 952m of 0.62% CuEq¹, including 502m of 0.67% CuEq¹ from 10m depth, expanding mineralization into this area
  • SLS-25 was collared on the western limit of the grid and drilled into a partially-open volume to the southwest, returning 382m of 0.77% CuEq¹, including 230m of 1.06% CuEq¹, infilling and extending mineralization in this area
  • SLS-26 was collared on the eastern side of the grid and drilled to the northeast, returning 1,000m of 0.60% CuEq¹, including 786m of 0.67% CuEq¹ from surface, extending the limits of mineralization more than 150m in this direction
  • To date, 36 holes have been completed at Warintza Central with full assay results reported for 26. Weather conditions have continued to improve at site supporting the continued ramp-up of drilling activities, with increased productivity expected through the third quarter

 

Mr. Jorge Fierro, Vice President, Exploration, commented: “Our latest drilling has continued to expand the footprint of Warintza Central toward our goal of defining a large, high-grade, open pit resource. With these holes, the drilled strike length has grown to the east beyond the original limits of planned resource drilling and remains open toward Warintza East, where results of maiden drilling are expected soon.”

 

(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.

 

Figure 1 – Long Section of 3D Geophysics Looking Northeast

 

Note to Figure 1: Figure looks northeast and depicts high-conductivity geophysical anomaly (defined at 100 ohm-m) generated from 3D inversion of electromagnetic data, encompassing from left to right Warintza West, Central, East and the newly-discovered Yawi target (Warintza South lies off image to south).

 

Figure 2 – Long Section of Warintza Central Drilling Looking Southeast

 

Figure 3 – Plan View

 

Table 1 – Warintza Central Assay Results

 

Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-26 July 7, 2021 2 1002 1000 0.51 0.02 0.04 0.60
Including 46 832 786 0.57 0.02 0.04 0.67
SLS-25 62 444 382 0.62 0.03 0.08 0.77
Including 62 292 230 0.87 0.04 0.10 1.06
SLS-24 10 962 952 0.53 0.02 0.04 0.62
Including 10 512 502 0.57 0.02 0.05 0.67
SLS-19 6 420 414 0.21 0.01 0.06 0.31
SLS-23 May 26, 2021 10 558 548 0.31 0.02 0.06 0.42
SLS-22 86 324 238 0.52 0.03 0.06 0.68
SLS-21 2 1031 1029 0.63 0.02 0.04 0.73
SLS-20 April 19, 2021 18 706 688 0.35 0.04 0.05 0.51
SLS-18 78 875 797 0.62 0.05 0.06 0.83
SLS-17 12 506 494 0.39 0.02 0.06 0.50
SLS-16 Mar 22, 2021 20 978 958 0.63 0.03 0.06 0.77
SLS-15 2 1231 1229 0.48 0.01 0.04 0.56
SLS-14 0 922 922 0.79 0.03 0.08 0.94
SLS-13 Feb 22, 2021 6 468 462 0.80 0.04 0.09 1.00
SLS-12 22 758 736 0.59 0.03 0.07 0.74
SLS-11 6 694 688 0.39 0.04 0.05 0.57
SLS-10 2 602 600 0.83 0.02 0.12 1.00
SLS-09 122 220 98 0.60 0.02 0.04 0.71
SLS-08 Jan 14, 2021 134 588 454 0.51 0.03 0.03 0.62
SLS-07 0 1067 1067 0.49 0.02 0.04 0.60
SLS-06 Nov 23, 2020 8 892 884 0.50 0.03 0.04 0.62
SLS-05 18 936 918 0.43 0.01 0.04 0.50
SLS-04 0 1004 1004 0.59 0.03 0.05 0.71
SLS-03 Sep 28, 2020 4 1014 1010 0.59 0.02 0.10 0.71
SLS-02 0 660 660 0.79 0.03 0.10 0.97
SLS-01 Aug 10, 2020 1 568 567 0.80 0.04 0.10 1.00
Notes to table: Grades are uncut and true widths have not been determined.

 

Table 2 – Collar Locations for New Drill Holes

 

Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-26 800191 9648059 1580 1032 70 -60
SLS-25 799676 9648117 1443 513 220 -70
SLS-24 800124 9648035 1580 962 90 -75
SLS-19 799667 9648029 1449 588 235 -80
Notes to table: The coordinates are in WGS84 17S Datum.

 

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. ALS Labs is independent from Solaris. In addition, selected pulp check samples are sent to Bureau Veritas lab in Lima, Peru. 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. 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.

 

Qualified Person

 

The scientific and technical content of this press release has been reviewed and approved by Donald Taylor, MSc., PG, Director of Solaris who is a “Qualified Person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects. Donald Taylor is a Registered Professional Geologist through the SME (registered member #4029597).

 

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.

 

Figure 1 – Long Section of 3D Geophysics Looking Northeast (CNW Group/Solaris Resources Inc.)

Figure 2 – Long Section of Warintza Central Drilling Looking Southeast (CNW Group/Solaris Resources Inc.)

Figure 3 – Plan View (CNW Group/Solaris Resources Inc.)

 

Posted July 7, 2021

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