Solaris Reports Highest Grades to Date, 100m of 1.64% CuEq Near Surface in Emerging NE Extension
28 Februar 2022 - 1:00PM
Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF)
(“Solaris" or the “Company") is pleased to report assay results
from a series of additional holes from mineral resource growth
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 (link provided
below).
Highlights
Additional holes have enlarged the drill
defined envelope of mineralization at Warintza Central, with the
highest-grade intersection reported to date building on an emerging
near surface, high-grade extension to the northeast that remains
open, as well as to the south and southeast.
Drilling Returns Highest Grades Reported
to Date in Emerging Northeast Extension that Remains
Open:
- SLS-42 was
collared at the northeastern limit of the grid and drilled
northeast into an entirely open volume, returning 740m
of 0.60% CuEq¹ from 52m depth within a broader interval of 906m of
0.53% CuEq¹, extending mineralization in this direction where it
remains open
- SLS-49 was
drilled southeast from the same platform and returned 396m
of 0.70% CuEq¹ within a broader interval of 817m of 0.60% CuEq¹
from 50m depth, tying the northeast extension to the overlap
between Warintza Central and East
- SLS-48, was collared in an
undrilled area ~200m west of SLS-49 and drilled south,
returning 100m of 1.64% CuEq¹ from 50m depth, the
highest-grade mineralization reported to date, within a broader
interval of 852m of 0.56% CuEq¹, extending the near surface
high-grade mineralization to the west in that area
- These
results expand Warintza Central by building on an emerging area of
near surface, high-grade mineralization; follow-up
drilling will pursue further growth by targeting the open areas to
the north and northwest, with an additional platform being
constructed to pursue further step-outs to the northeast
Drilling Extends Mineralization to
Southeast that Remains Open:
- SLS-45 was
collared on the eastern side of the grid and drilled southeast into
an entirely open volume, returning 236m of 0.56% CuEq¹
from 44m depth within a broader interval of 564m of 0.41% CuEq¹,
extending mineralization to the southeast where it remains
open
- SLS-46 was
collared from a southeastern platform and drilled southeast into a
partially open volume, returning 168m of 0.69% CuEq¹
from 48m depth within a broader interval of 632m of 0.31% CuEq¹,
extending mineralization in this direction where it remains
open
- SLS-47 was collared in the middle
of the grid and drilled southeast to infill this area,
returning 446m of 0.70% CuEq¹ from 48m depth within a
broader interval of 811m of 0.51% CuEq¹, with
mineralization remaining open to the south
To date, 58
holes have been completed at Warintza Central with assays reported
for 49 of these.
Updated
Warintza Central Mineral Resource expected to be issued in late Q1
2022 / early Q2 2022.
Mr. Jorge Fierro, Vice
President, Exploration, commented: “The initial resource growth
drilling program for Warintza Central has been completed which will
inform the updated mineral resource estimate. With this intensive
program behind us, the focus of ongoing drilling has turned to
pursuing the further extensions of near-surface, high-grade
mineralization which remain open, with additional platforms
allowing for more aggressive step-outs under construction.”
Figure 1 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f511c652-e366-4bcf-a563-adb99fd08c56
Figure 2 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/ac5af1b9-8d36-4d00-b64e-a22750c5dae0
Figure 3 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d29c8e-8b40-4bd2-a3ea-c7ea132c0827
3D Warintza Model
Table 1 – Assay Results
Hole ID |
Date Reported |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Mo (%) |
Au (g/t) |
CuEq¹ (%) |
SLS-49 |
Feb 28, 2022 |
50 |
867 |
817 |
0.50 |
0.02 |
0.04 |
0.60 |
Including |
50 |
446 |
396 |
0.59 |
0.02 |
0.04 |
0.70 |
SLS-48 |
50 |
902 |
852 |
0.45 |
0.02 |
0.05 |
0.56 |
Including |
50 |
150 |
100 |
1.39 |
0.03 |
0.20 |
1.64 |
SLS-47 |
48 |
859 |
811 |
0.41 |
0.02 |
0.05 |
0.51 |
Including |
48 |
494 |
446 |
0.55 |
0.03 |
0.06 |
0.70 |
SLS-46 |
48 |
680 |
632 |
0.27 |
0.01 |
0.03 |
0.31 |
Including |
48 |
216 |
168 |
0.61 |
0.02 |
0.04 |
0.69 |
SLS-45 |
44 |
608 |
564 |
0.37 |
0.01 |
0.03 |
0.41 |
Including |
44 |
280 |
236 |
0.51 |
0.01 |
0.03 |
0.56 |
SLS-44 |
6 |
524 |
518 |
0.16 |
0.05 |
0.03 |
0.35 |
Including |
44 |
376 |
332 |
0.18 |
0.06 |
0.03 |
0.40 |
SLS-43 |
138 |
350 |
212 |
0.17 |
0.03 |
0.03 |
0.30 |
SLS-42 |
52 |
958 |
906 |
0.42 |
0.02 |
0.06 |
0.53 |
Including |
52 |
792 |
740 |
0.48 |
0.02 |
0.07 |
0.60 |
Including |
52 |
692 |
640 |
0.51 |
0.02 |
0.07 |
0.63 |
SLSS-01 |
Jan 18, 2022 |
0 |
755 |
755 |
0.28 |
0.02 |
0.02 |
0.36 |
SLS-41 |
Dec 14, 2021 |
0 |
592 |
592 |
0.42 |
0.02 |
0.06 |
0.52 |
SLS-40 |
8 |
1056 |
1048 |
0.39 |
0.01 |
0.03 |
0.46 |
SLS-39 |
28 |
943 |
915 |
0.49 |
0.01 |
0.04 |
0.56 |
SLS-38 |
58 |
880 |
822 |
0.28 |
0.01 |
0.05 |
0.35 |
SLS-37 |
28 |
896 |
868 |
0.39 |
0.05 |
0.05 |
0.58 |
SLS-36 |
Nov 15, 2021 |
2 |
1082 |
1080 |
0.33 |
0.01 |
0.04 |
0.41 |
SLS-35 |
48 |
968 |
920 |
0.53 |
0.02 |
0.04 |
0.62 |
SLS-34 |
Oct 25, 2021 |
52 |
712 |
660 |
0.36 |
0.02 |
0.06 |
0.47 |
SLS-33 |
40 |
762 |
722 |
0.55 |
0.03 |
0.05 |
0.69 |
SLSE-02 |
0 |
1160 |
1160 |
0.20 |
0.01 |
0.04 |
0.25 |
SLS-32 |
Oct 12, 2021 |
0 |
618 |
618 |
0.38 |
0.02 |
0.05 |
0.48 |
SLS-31 |
8 |
1008 |
1000 |
0.68 |
0.02 |
0.07 |
0.81 |
SLS-30 |
2 |
374 |
372 |
0.57 |
0.06 |
0.06 |
0.82 |
SLSE-01 |
Sep 27, 2021 |
0 |
1213 |
1213 |
0.21 |
0.01 |
0.03 |
0.28 |
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 |
SLSW-01 |
Feb 16, 2021 |
32 |
830 |
798 |
0.25 |
0.02 |
0.02 |
0.31 |
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: True widths cannot be determined at this time. |
Table 2 - Collar Location
Hole ID |
Easting |
Northing |
Elevation (m) |
Depth (m) |
Azimuth (degrees) |
Dip (degrees) |
SLS-49 |
800383 |
9648303 |
1412 |
867 |
135 |
-73 |
SLS-48 |
800178 |
9648285 |
1439 |
1056 |
180 |
-60 |
SLS-47 |
799968 |
9648102 |
1510 |
859 |
135 |
-72 |
SLS-46 |
800126 |
9648032 |
1566 |
882 |
125 |
-70 |
SLS-45 |
800258 |
9648097 |
1559 |
969 |
117 |
-70 |
SLS-44 |
799968 |
9648102 |
1510 |
676 |
0 |
-75 |
SLS-43 |
799870 |
9648315 |
1414 |
761 |
110 |
-75 |
SLS-42 |
800383 |
9648303 |
1412 |
1061 |
55 |
-80 |
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, 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.
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 RelationsDirect: 416-366-5678
Ext. 203Email: jwagenaar@solarisresources.com
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 that additional holes have enlarged the drill defined
envelope of mineralization at Warintza Central, with the
highest-grade intersection reported to date building on an emerging
near surface, high-grade extension to the northeast that remains
open, as well as to the south and southeast, follow-up drilling is
targeting the open areas to the north and northwest, with an
additional platform being constructed to pursue further step-outs
to the northeast, that an updated Warintza Central Mineral Resource
is expected to be issued in late Q1 2022 / early Q2 2022, that the
initial resource growth drilling program for Warintza Central has
been completed which will inform the updated mineral resource
estimate, and that the focus of ongoing drilling has turned to
pursuing the further extensions of near-surface, high-grade
mineralization which remain open, with additional platforms
allowing for more aggressive step-outs under construction. 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.
Solaris Resources (TSX:SLS)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Solaris Resources (TSX:SLS)
Historical Stock Chart
Von Apr 2023 bis Apr 2024