Solaris Resources (TSX:SLS) Reports 1,000m of 0.60% CuEq From Surface, Extending Warintza Central to 1,250m Strike Length

New assay results were reported this morning from ongoing resource expansion drilling at Solaris Resources Warintza Project. The company is reporting that the additional drill holes have extended the strike length, a consistent, high-grade mineralization, and a ramp-up of drilling activities as the weather continues to improve. 

“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.” – Mr. Jorge Fierro, Vice-President of Exploration at Solaris Resources

Highlights Include:

  • 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
Source: Solaris Resources

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

 

Multiple Projects, Multiple Prospects

Advancing copper projects across the Americas, Solaris is advancing quickly, particularly at its flagship Warintza Project in southeastern Ecuador. The company also boasts its Tamarugo and Ricardo projects in Chile, the Capricho and Paco Orco projects in Peru, and 60% of the La Verde joint-venture project in Mexico with Teck Resources. Warintza is located 85km east of Cuenca in a mainly rural part of the Cordillera del Condor. The area is an inland mountain range that forms the border between Ecuador and Peru. The area is a copper-rich territory, with Ecuacorriente also operating the Mirador mine 40km north of Warintza. 

The property comprises five main targets with a 5km by 5km cluster of copper porphyries identified on the property so far. With key targets at Warintza Central, Warintza West, and Warintza East, there are plenty of opportunities for positive reported results. Drilling at Warintza East began this year, and the company expects to report results sometime in the coming quarters of 2021. 

With other undrilled regional targets still available to the company, Warintza is by far the only project in the company’s sights. It is exploring multiple properties simultaneously to distribute resources and effort.

The Warintza project discovery was made in the early 2000s by legendary mine finder David Lowell, who discovered 17 major mineral deposits over his lengthy and storied 50-year career. One of his major discoveries, the largest copper deposits in the world La Escondida in Chile in 1981 was a launchpad for an illustrious career discovering some of the most mineral-rich deposits in the world. Warintza is set to become another accomplishment for the late Lowell, as Solaris Resources continues to advance the project. 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above. 

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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