Solaris Resources (TSX:SLS) Reports 1,000m of 0.81% CuEq From Surface and Broadens Width of Warintza Central to North

Figure 1 – Long Section of Warintza Central Drilling Looking Southeast. Source: Solaris Resources

Solaris Resources (TSX:SLS) (OTCQB:SLSSF) has reported new assay results this morning from its ongoing resource expansion drilling at its flagship Warintza project. The project is located in southeastern Ecuador and has been progression rapidly, with a focus on Waritnza Central. 

Mr. Jorge Fierro, Vice President, Exploration, commented: “Warintza Central continues to expand, with the limits of the zone to the north, south and east yet to be found.  Drilling planned over the coming months is focused on further extensional and step-out drilling, including establishing the potential link to the recently-discovered Warintza East zone, and discovery drilling at the other well-defined targets within the 7km x 5km Warintza cluster of porphyries.”

Highlights

  • Three additional holes at Warintza Central, as detailed below, have extended the drill defined envelope of high-grade mineralization to the north, northeast and south, with the highest-grade mineralization encountered in all holes starting at or near surface (refer to Figures 1 & 2)
  • SLS-30 was collared in the western portion of the Warintza Central grid and drilled into a partially open volume to the north, returning 372m of 0.82% CuEq¹ from surface, including 264m of 0.97% CuEq¹ from 42m depth, extending mineralization in this direction
  • SLS-31 was collared in the middle of Warintza Central and drilled into an entirely open volume to the southeast, returning 1,000m of 0.81% CuEq¹ from near surface, including 768m of 0.90% CuEq¹ from 44m depth, extending mineralization to the south in this area
  • SLS-32, stepped out approximately 165m northeast beyond the northern limit of drilling and drilled vertically into an open volume, returning 618m of 0.48% CuEq¹ from surface, including 372m of 0.64% CuEq¹ from 46m depth, broadening the width of the zone to the north
  • To date, 44 holes have been completed at Warintza Central with assays reported for 32 of these

 

Table 1 – Warintza Central Assay Results

Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-32 Oct 12, 2021 0 618 618 0.38 0.02 0.05 0.48
Including 46 418 372 0.53 0.02 0.06 0.64
SLS-31 8 1008 1000 0.68 0.02 0.07 0.81
Including 44 812 768 0.75 0.03 0.08 0.90
SLS-30 2 374 372 0.57 0.06 0.06 0.82
Including 42 306 264 0.72 0.06 0.07 0.97
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
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 cannot be determined at this time.

Table 2 – Collar Locations for New Drill Holes

Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-32 800383 9648303 1422 831 0 -89
SLS-31 799765 9648033 1571 1025 97 -80
SLS-30 799667 9648029 1499 552 0 -65
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.

Source: Solaris Resources

Figure 2 – Plan View of Warintza Drilling Released to Date. Source: Solaris Resources
Figure 3 – Plan View of 7km x 5km Warintza Porphyry Cluster. Source: Solaris Resources

 

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.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.

MOST ACTIVE MINING STOCKS

 Daily Gainers

 Golden Rim Resources Ltd. GMR.AX +1,400.00%
 Legacy Iron Ore Ltd. LCY.AX +78.95%
 Argentex Mining Corp. ATX.V +57.89%
 Pele Mountain Resources Inc. GEM.V +35.71%
 West High Yield Resources Ltd. WHY.V +29.51%
 AusQuest Ltd. AQD.AX +26.67%
 Focus Metals Inc. FMS.V +22.22%
 Latrobe Magnesium Ltd. LMG.AX +21.74%
 Sparton Resources SRI.V +20.00%
 Sparton Resources Inc. SRI.V +20.00%

Download the latest Solaris Resources (SLSSF) Investor Kit

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

MiningFeeds will use the information you provide on this form to be in touch with you and to provide updates and marketing.