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

Rhea-AI Summary

Solaris Resources Inc. has announced significant progress in resource expansion drilling at the Warintza Project in Ecuador. The recent assays have extended the strike length to 1,250m, surpassing initial plans of 1,000m. Notably, drill hole SLS-21 returned 1,029m of 0.73% CuEq, with further strong intervals in SLS-24, SLS-25, and SLS-26. The mineralization remains open to the east, and the summer season is expected to enhance drilling productivity.

Positive

• Extended strike length of Warintza Central to 1,250m, exceeding the original 1,000m goal.
• Strong assay results, including SLS-21 with 1,029m of 0.73% CuEq and SLS-25 with 382m of 0.77% CuEq.
• High-grade mineralization found at or near the surface, beneficial for future mine planning.

Negative

• None.

VANCOUVER, BC, July 7, 2021 /PRNewswire/ - Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) ("Solaris" or the "Company") is pleased to report the latest assay results from ongoing resource expansion drilling at its Warintza Project ("Warintza" or "the 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 ("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. 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).

On behalf of the Board of Solaris Resources Inc.

"Daniel Earle"
President & CEO, Director

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.

Cautionary Notes and Forward-looking Statements

This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will" and "expected" and similar expressions are intended to identify forward-looking statements. These statements include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including statements the dynamic 3D model on the Company's website will be updated for the latest results, that drilling results are able to generate a robust mine plan, and that ongoing ramp-up of drilling activities, with increased productivity expected through the third quarter. Although Solaris believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. These statements are based on a variety of assumptions including assumptions made about the Company's ability to advance exploration efforts at the Warintza Project; the results of such exploration efforts; and the Company's ability to achieve its growth objectives. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Solaris Management's Discussion and Analysis for the year ended December 31, 2020 available at www.sedar.com. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Solaris does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities laws.

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SOURCE Solaris Resources Inc.

FAQ

What are the latest assay results for SLSSF from Warintza Project?

Recent assays for SLSSF show significant results, including SLS-21 with 1,029m of 0.73% CuEq.

What is the strike length extension at Warintza Project?

The strike length at Warintza Central has been extended to 1,250m.

How many drill holes have been completed at Warintza Central?

A total of 36 drill holes have been completed at Warintza Central.

What drilling results have been reported on July 7, 2021, for SLSSF?

On July 7, 2021, notable drilling results include 952m of 0.62% CuEq from SLS-24 and 1,000m of 0.60% CuEq from SLS-26.