Source: Solaris Resources Inc.
  • Solaris Resources (SLS) reported updated geochemical sampling and assay results from its Warintza Project
  • This new area of strong soil anomalism represents a potential target for higher-grade mineralization beyond the northern margin of prior exploration drilling
  • New drill results returned to the south include 320 metres of 0.50 percent CuEq from near surface within a broader interval of 496 metres of 0.40 per cent CuEq, extending mineralization to the south
  • Shares of Solaris Resources Inc. were down 2.69 per cent, trading at $6.15 at 9:55 am ET

Solaris Resources (SLS) reported updated geochemical sampling and assay results from its Warintza Project.

The results come from follow-up holes at Warintza West, one of four discoveries made within the Warintza porphyry cluster and are located 1 km west of and outside the Warintza mineral resource estimate.

Recent geochemical sampling has identified a new area of strong overlapping copper and molybdenum anomalies to the north, measuring 1000 metres by 500 metres with soil samples averaging 600 ppm copper (Cu) and 80 ppm molybdenum (Mo). This contrasts with the anomaly surrounding the original platform that is defined by strong Mo values at 65 ppm but weaker Cu below 400 ppm.

This new area of strong soil anomalism represents a potential target for higher-grade mineralization beyond the northern margin of prior exploration drilling.

New drill results returned to the south include 320 metres of 0.50 percent CuEq from near surface within a broader interval of 496 metres of 0.40 per cent CuEq, extending mineralization to the south where it remains open, and requires step-out drilling. This hole expands on previous results, drilled from the same platform to the southwest and returned 220 metres of 0.41 per cent CuEq from near surface.

The company’s Vice President, Exploration, Jorge Fierro, commented,

“First-pass reconnaissance drilling at Warintza West outlined a broad zone of porphyry mineralization, with subsequent sampling identifying new potential for higher-grade mineralization to the north for future step-out drilling. The ongoing drill program is targeting mineral resource estimate growth within the high-grade starter pit at Warintza Central, where results are expected shortly, and expanding the Warintza East discovery, which adjoins Warintza Central.”

Hole ID Date Reported From (m) To (m) Interval (m) Cu (per cent) Mo (per cent) Au (g/t) CuEq (per cent)
SLSW-13 Feb 13, 2023
24 520 496 0.32 0.02 0.03 0.40
Including 24 344 320 0.40 0.02 0.03 0.50
SLSW-12 58 592 534 0.15 0.01 0.01 0.20
Including 58 246 188 0.24 0.01 0.02 0.30
SLSW-11 20 648 628 0.17 0.005 0.02 0.20
Including 30 288 258 0.22 0.005 0.03 0.26

Notes to table: True widths of the mineralized zone are not known at this time.

Collar Location

Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLSW-13 798507 9648465 1519 530 190 -60
SLSW-12 798507 9648465 1519 1005 90 -50
SLSW-11 798507 9648465 1519 708 280 -46

Solaris (SLS) is advancing a portfolio of copper assets in the Americas, focused on its Warintza Project in southeastern Ecuador, which features a broad cluster of outcropping copper porphyry deposits anchored by a large-scale, high-grade open-pit resource inventory at Warintza Central.

Ongoing efforts are focused on rapid resource growth and further discovery drilling. The company offers additional discovery potential at its portfolio projects: Capricho and Paco Orco in Peru, Ricardo via a joint venture with Freeport-McMoRan and Tamarugo in Chile, and significant leverage to increasing copper prices through its 60 per cent interest in the La Verde joint venture with Teck Resources in Mexico.

Shares of Solaris Resources Inc. (SLS) were down 2.69 per cent, trading at $6.15 at 9:55 am ET.


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