Solaris Reports 1,000m of 0.81% CuEq From Surface; Broadens Width of Warintza Central to North in 165m Step Out Hole

Rhea-AI Summary

Solaris Resources Inc. has reported significant drill results from its Warintza Project in Ecuador, confirming the expansion of high-grade mineralization. The latest drilling included three new holes at Warintza Central, with notable results such as 1,000m of 0.81% CuEq from SLS-31. Overall, 44 holes have been drilled, with assays from 32 reported. The company plans further drilling to explore mineralization limits and potential connections to nearby zones. This ongoing exploration supports the project's growth trajectory.

Positive

• SLS-30 returned 372m of 0.82% CuEq from surface.
• SLS-31 yielded 1,000m of 0.81% CuEq from near surface.
• Total of 44 holes completed with 32 assays reported highlights successful exploration.

Negative

• None.

VANCOUVER, BC, Oct. 12, 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.

Highlights

• Three additional holes at Warintza Central, as detailed below, have extended the drill defined envelope of high-grade mineralization to the north, northeast and south, with the highest-grade mineralization encountered in all holes starting at or near surface (refer to Figures 1 & 2)

• SLS-30 was collared in the western portion of the Warintza Central grid and drilled into a partially open volume to the north, returning 372m of 0.82% CuEq¹ from surface, including 264m of 0.97% CuEq¹ from 42m depth, extending mineralization in this direction

• SLS-31 was collared in the middle of Warintza Central and drilled into an entirely open volume to the southeast, returning 1,000m of 0.81% CuEq¹ from near surface, including 768m of 0.90% CuEq¹ from 44m depth, extending mineralization to the south in this area

• SLS-32, stepped out approximately 165m northeast beyond the northern limit of drilling and drilled vertically into an open volume, returning 618m of 0.48% CuEq¹ from surface, including 372m of 0.64% CuEq¹ from 46m depth, broadening the width of the zone to the north

• To date, 44 holes have been completed at Warintza Central with assays reported for 32 of these

Mr. Jorge Fierro, Vice President, Exploration, commented: "Warintza Central continues to expand, with the limits of the zone to the north, south and east yet to be found.  Drilling planned over the coming months is focused on further extensional and step-out drilling, including establishing the potential link to the recently-discovered Warintza East zone, and discovery drilling at the other well-defined targets within the 7km x 5km Warintza cluster of porphyries."

Table 1 – Warintza Central Assay Results

Hole ID	Date Reported	From (m)	To (m)		Interval (m)	Cu (%)		Mo (%)	Au (g/t)	CuEq¹ (%)
SLS-32	Oct 12, 2021	0	618		618	0.38		0.02	0.05	0.48
Including		46	418		372	0.53		0.02	0.06	0.64
SLS-31		8	1008		1000	0.68		0.02	0.07	0.81
Including		44	812		768	0.75		0.03	0.08	0.90
SLS-30		2	374		372	0.57		0.06	0.06	0.82
Including		42	306		264	0.72		0.06	0.07	0.97
SLS-29	Sep 7, 2021	6	1190		1184	0.58		0.02	0.05	0.68
SLS-28		6	638		632	0.51		0.04	0.06	0.68
SLS-27		22	484		462	0.70		0.04	0.08	0.91
SLS-26	July 7, 2021	2	1002		1000	0.51		0.02	0.04	0.60
SLS-25		62	444		382	0.62		0.03	0.08	0.77
SLS-24		10	962		952	0.53		0.02	0.04	0.62
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 cannot be determined at this time.

Table 2 – Collar Locations for New Drill Holes

Hole ID	Easting	Northing	Elevation (m)	Depth (m)	Azimuth (degrees)	Dip (degrees)
SLS-32	800383	9648303	1422	831	0	-89
SLS-31	799765	9648033	1571	1025	97	-80
SLS-30	799667	9648029	1499	552	0	-65
Notes to table: 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 ("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. 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.

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).

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 regarding drilling planned over the coming months is focused on further extensional and step-out drilling at Warintza Central, including establishing the potential link to the recently-discovered Warintza East zone, and discovery drilling at the other well-defined targets within the 7km x 5km Warintza cluster of porphyries. 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 recent drilling results for Solaris Resources SLSSF?

Recent drilling at Solaris Resources' Warintza Project revealed high-grade intervals including 1,000m of 0.81% CuEq from SLS-31.

How many drill holes have been completed at Warintza Project SLSSF?

Solaris has completed a total of 44 drill holes at the Warintza Project.

What are the key findings from the Warintza Central drilling SLSSF?

Key findings include extended mineralization to the north, south, and east with significant copper equivalent grades.

What is the company’s plan for future drilling at SLSSF?

Solaris plans to conduct further extensional drilling to explore the limits of the mineralization and investigate the Warintza East zone.