Solaris Reports 108m of 1.20% CuEq From Near Surface, Continues to Expand ‘Indicative Starter Pit’ at Warintza Central
Solaris Resources has announced promising drilling results from its Warintza Project in Ecuador, focused on the Northeast Extension of the 'Indicative Starter Pit'. The latest assays indicate significant resource growth with hole SLS-67 returning 108m of 1.20% CuEq and SLS-68 showing 72m of 1.00% CuEq. The reported Warintza Mineral Resource Estimate stands at 180 Mt at 0.82% CuEq (Indicated) and 107 Mt at 0.73% CuEq (Inferred). Extensional drilling is ongoing, with assays pending from additional holes aimed at further expanding resources.
- New drilling results indicate significant resource expansion at Warintza.
- SLS-67 returned 108m of 1.20% CuEq and SLS-68 returned 72m of 1.00% CuEq.
- The Warintza Mineral Resource Estimate is substantial at 180 Mt at 0.82% CuEq (Indicated).
- Further extensional drilling planned to expand the resource area.
- None.
VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or “the Company”) is pleased to report assay results from a series of holes aimed at growing the Northeast Extension of the ‘Indicative Starter Pit’ at its Warintza Project (“Warintza” or “the Project”) in southeastern Ecuador. Highlights are listed below, with a corresponding image in Figure 1 and detailed results in Tables 1-2.
Highlights
Resource expansion drilling continues to build on the Northeast Extension of the ‘Indicative Starter Pit’ which was estimated at 180 Mt at
- SLS-67 was collared at the north-central limit of Warintza Central and drilled southwest into a partially open volume, returning 108m of
1.20% CuEq¹ within a broader interval of 604m of0.51% CuEq¹ from near surface - This hole expands on the area of high-grade near surface mineralization in combination with SLS-48 which was collared from the same platform but drilled south, returning 100m of
1.64% CuEq³ within a broader interval of 852m of0.56% CuEq³ from near surface (refer to press release dated Feb 28, 2022) - SLS-68 was collared from the same platform as SLS-67 and drilled steeply to the northwest into an open volume, returning 72m of
1.00% CuEq¹ within a broader interval of 616m of0.44% CuEq¹ from near surface, expanding this area of higher-grade mineralization from near surface - SLS-65 was collared from a recently constructed 250m step-out platform at the northeast limit of the Warintza Central grid and drilled northwest into a partially open volume, returning 286m of
0.55% CuEq¹ from near surface - Assays are pending from a series of holes from this new drill platform aimed at further expanding resource growth in the Northeast Extension zone, with additional extension and step-out drilling underway
Mr. Jorge Fierro, Vice President, Exploration, commented: “The Northeast Extension remains open to the north with assays pending from recently completed holes. Further extensional drilling is planned with a 200m step-out platform on the northeastern margin of the drill grid aimed at expanding the zone in this direction. We’re also expecting assays from the remaining holes drilled from the discovery platform at Warintza West outlining a mineralized porphyry with minimum dimensions of 900m x 600m and open outside the MRE for future resource drilling, and the next series of holes targeting the expansion of Warintza East.”
Figure 1 – Plan View of Warintza Central Drilling Released to Date
https://www.globenewswire.com/NewsRoom/AttachmentNg/56025735-64a9-4664-b1b7-2a09c4e12747
Table 1 – Assay Results
Hole ID | Date Reported | From (m) | To (m) | Interval (m) | Cu (%) | Mo (%) | Au (g/t) | CuEq¹ (%) |
SLS-68 | Dec 5, 2022 | 44 | 660 | 616 | 0.34 | 0.02 | 0.04 | 0.44 |
Including | 68 | 140 | 72 | 0.88 | 0.02 | 0.06 | 1.00 | |
SLS-67 | 42 | 646 | 604 | 0.40 | 0.02 | 0.05 | 0.51 | |
Including | 42 | 150 | 108 | 1.06 | 0.03 | 0.09 | 1.20 | |
SLS-65 | 88 | 374 | 286 | 0.38 | 0.04 | 0.06 | 0.55 | |
Notes to table: True widths of the mineralized zone are not known at this time. |
Table 2 - Collar Location
Hole ID | Easting | Northing | Elevation (m) | Depth (m) | Azimuth (degrees) | Dip (degrees) |
SLS-68 | 800178 | 9648285 | 1439 | 662 | 332 | -85 |
SLS-67 | 800178 | 9648285 | 1439 | 673 | 230 | -76 |
SLS-65 | 800347 | 9648415 | 1346 | 401 | 290 | -70 |
Notes to table: The coordinates are in WGS84 17S Datum. |
Endnotes
- Copper-equivalence for the Warintza Mineral Resource Estimate (“MRE”) and drill holes SLS-65, SLS-67 and SLS-68 calculated as: CuEq (%) = Cu (%) + 4.0476 × Mo (%) + 0.487 × Au (g/t), utilizing metal prices of US
$3.50 /lb Cu, US$15.00 /lb Mo, and US$1,500 /oz Au, and assumes recoveries of90% Cu,85% Mo, and70% Au based on preliminary metallurgical test work. The ‘Indicative Starter Pit’ is based on the same assumptions as the MRE except utilized metal prices of US$1.00 /lb Cu, US$7.50 /lb Mo, and US$750 /oz Au. No economic analysis has been completed by the Company and there is no guarantee an ‘Indicative Starter Pit’ will be realized or prove to be economic. - Refer to Solaris’ technical report titled, “NI 43-101 Technical Report for the Warintza Project, Ecuador” with an effective date of April 1, 2022, prepared by Mario E. Rossi and filed on the Company’s SEDAR profile at www.sedar.com.
- Copper-equivalence calculated as: CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal prices of US
$3.00 /lb Cu, US$10.00 /lb Mo, and US$1,500 /oz Au. No adjustments were made for recovery prior to the updated MRE, as the metallurgical data to allow for estimation of recoveries was not yet available. Solaris defined CuEq for reporting purposes only.
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. 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
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: jwagenaar@solarisresources.com
About Solaris Resources Inc.
Solaris is a multi-asset exploration company, advancing a portfolio of copper and gold assets in the Americas, which includes: 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 and owned grass-roots Tamarugo Project in Chile; discovery potential at its Capricho and Paco Orco projects in Peru; and significant leverage to increasing copper prices through its
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 that resource expansion drilling continues to build on the Northeast Extension of the ‘Indicative Starter Pit’ which was estimated at 180 Mt at
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