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.