Solaris Resources (TSX:SLS) Reports New Assay Results, Extends Warintza Central to 1,350 Strike Length

Solaris Resources (TSX:SLS) has reported new assay results from ongoing resource growth and discovery drilling at its flagship Warintza Project in Ecuador this morning. Warintza has now been extended, and now overlaps the Warintza East discovery.

Vice President of Exploration for Solaris Resource commented in a press release: “We are very proud to continue the great work of the late David Lowell with our first two holes confirming Warintza East as the third major copper porphyry discovery within the 7km x 5km Warintza porphyry cluster. Our drilling fleet has now been fully reoriented to pursue an aggressive growth strategy via step-out and extensional drilling as we prepare to test our next targets for further discoveries.”

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

  • Eastern extension drilling has increased the strike length of Warintza Central to 1,350m where it now overlaps the western limits of Warintza East
  • SLS-33 was drilled from Warintza Central into a partially open volume to the north, returning 722m of 0.69% CuEq¹, including 426m of 0.85% CuEq¹ from 46m depth, infilling and extending mineralization to the north in this area
  • SLS-34 was collared at the northeastern limit of Warintza Central and drilled east into an entirely open volume, returning 660m of 0.47% CuEq¹, including 242m of 0.67% CuEq¹ from 52m depth, significantly extending mineralization to the east where it now partially overlaps Warintza East
  • SLSE-02, the second hole at Warintza East, was collared approximately 1,300m east of Warintza Central and drilled northwest toward SLS-34, returning 320m of 0.48% CuEq¹ from surface within a broader interval of 1,160m assaying 0.25% CuEq¹, partially overlapping SLS-34
  • SLSE-01 (previously reported September 27, 2021) was collared from the same platform as
    SLSE-02 but drilled to the southwest, returning 396m of 0.42% CuEq¹ from surface within a broader interval of 1,213m assaying 0.28% CuEq¹
  • Warintza East is the third major copper porphyry discovery within the Warintza cluster; each of the first two holes have returned long intervals of mineralization with the highest grades starting at or near surface reflecting the vertical zonation in the system

Figure 1 – Long Section of Warintza Central and Warintza East Drilling Looking Southeast

Figure 2 – Plan View of Warintza Drilling Released to Date

Figure 3 – Long Section of 3D Geophysics Looking Northeast

Note to Figure 3: 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 Yawi target (Warintza South lies off image to south).

Table 1 – Assay Results

Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-34 Oct 25, 2021 52 712 660 0.36 0.02 0.06 0.47
Including 52 294 242 0.51 0.03 0.08 0.67
SLS-33 40 762 722 0.55 0.03 0.05 0.69
Including 46 472 426 0.71 0.03 0.06 0.85
SLSE-02 0 1160 1160 0.20 0.01 0.04 0.25
Including 0 320 320 0.39 0.02 0.04 0.48
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
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-34 800383 9648303 1412 1057 78 -60
SLS-33 799873 9648008 1632 764 0 -80
SLSE-02 801485 9648192 1170 1191 275 -50
Notes to table: The coordinates are in WGS84 17S Datum.

 

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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