Solaris Resources (TSX:SLS) has reported assay results from a series of additional holes from mineral resource growth drilling at its Warintza Project in southeastern Ecuador. The results highlighted expansion of the growing northeastern extension area, and that drilling has expanded the southeastern extension area. The southeastern extension remains open in near surface, high-grade mineralization.
Mr. Jorge Fierro, Vice President of Exploration for Solaris, said in a press release: “These final holes expand on two key growth areas with near surface, high-grade mineralization on the edge of resource drilling that remains open. These holes will be included in the forthcoming resource update; further extensions to the northeast and southeast represent priority targets for further growth with step-out drilling commencing shortly.”
On top of the exciting assay results, the company has noted that an updated Warintza Central Mineral Resource Estimate is expected to be issued in April. This is a highly anticipated catalyst for the company and the Warintza Project.
Additional drilling has expanded the growing northeast extension area, which remains open with follow-up and step-out drilling underway. This zone is characterized by near surface, high-grade mineralization, as detailed below, at the northeastern limit of drilling at Warintza Central and represents a priority target for further growth.
- SLS-54 was collared at the northeastern limit of the grid and drilled into an open volume near surface, returning 356m of 0.73% CuEq¹ from 50m depth within a broader interval of 1,093m of 0.56% CuEq¹ from surface
- This follows from near surface, high-grade mineralization previously reported (refer to press releases dated February 28, 2022, December 14, 2021 and October 25 & 12, 2021) from:
- SLS-49 – 396m of 0.70% CuEq¹ from 50m depth within 817m of 0.60% CuEq¹
- SLS-48 – 100m of 1.64% CuEq¹ from 50m depth within 852m of 0.56% CuEq¹
- SLS-42 – 740m of 0.60% CuEq¹ from 52m depth within 906m of 0.53% CuEq¹
- SLS-38 – 244m of 0.70% CuEq¹ from 58m depth within 822m of 0.35% CuEq¹
- SLS-34 – 242m of 0.67% CuEq¹ from 52m depth within 660m of 0.47% CuEq¹
- SLS-32 – 372m of 0.64% CuEq¹ from 46m depth within 618m of 0.48% CuEq¹
- Follow-up drilling from existing platforms is underway, with a 260m northeast step-out platform recently completed and a second platform stepping out further to the northeast under construction
Additional drilling has expanded the growing southeast extension area, which remains open in near surface, high-grade mineralization.
- SLS-52 was collared on the eastern side of the grid and drilled southeast into an open volume near surface, returning 482m of 0.62% CuEq¹ from 96m depth, within a broader interval of 977m of 0.45% CuEq¹ from near surface that infilled drilling at depth
- SLS-53 was collared from a southeastern platform and drilled south into an open volume near surface, returning 176m of 0.78% CuEq¹ from 16m depth, within a broader interval of 957m of 0.46% CuEq¹ from 10m depth that infilled drilling at depth
- This follows from near surface, high-grade mineralization previously reported (refer to press releases dated February 28, 2022, December 14, 2021 and November 15, 2021) from:
- SLS-45 – 236m of 0.56% CuEq¹ from 44m depth within 564m of 0.41% CuEq¹
- SLS-39 – 368m of 0.73% CuEq¹ from 90m depth within 915m of 0.56% CuEq¹
- SLS-35 – 326m of 0.80% CuEq¹ from 50m depth within 920m of 0.62% CuEq¹
- Additional platform construction to support follow-up and step-out drilling to test the further southeast extension of near surface, high-grade mineralization is planned, following the release of the updated mineral resource estimate
- SLS-51 was collared from the south-central portion of the grid and drilled east into an open volume at surface, returning 918m of 0.50% CuEq¹ from 130m depth within a broader interval of 1,012m of 0.47% CuEq¹ from near surface that infilled drilling at depth
Updated Warintza Central Mineral Resource Estimate expected to be issued in April.
To date, 62 holes have been completed at Warintza Central with assays reported for 54 of these.
Table 1 – Assay Results
|Hole ID||Date Reported||From (m)||To (m)||Interval (m)||Cu (%)||Mo (%)||Au (g/t)||CuEq¹ (%)|
|SLS-54||Apr 4, 2022||0||1093||1093||0.45||0.02||0.04||0.56|
|SLS-49||Feb 28, 2022||50||867||817||0.50||0.02||0.04||0.60|
|SLSS-01||Jan 18, 2022||0||755||755||0.28||0.02||0.02||0.36|
|SLS-41||Dec 14, 2021||0||592||592||0.42||0.02||0.06||0.52|
|SLS-36||Nov 15, 2021||2||1082||1080||0.33||0.01||0.04||0.41|
|SLS-34||Oct 25, 2021||52||712||660||0.36||0.02||0.06||0.47|
|SLS-32||Oct 12, 2021||0||618||618||0.38||0.02||0.05||0.48|
|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-26||July 7, 2021||2||1002||1000||0.51||0.02||0.04||0.60|
|SLS-23||May 26, 2021||10||558||548||0.31||0.02||0.06||0.42|
|SLS-20||April 19, 2021||18||706||688||0.35||0.04||0.05||0.51|
|SLS-16||Mar 22, 2021||20||978||958||0.63||0.03||0.06||0.77|
|SLS-13||Feb 22, 2021||6||468||462||0.80||0.04||0.09||1.00|
|SLSW-01||Feb 16, 2021||32||830||798||0.25||0.02||0.02||0.31|
|SLS-08||Jan 14, 2021||134||588||454||0.51||0.03||0.03||0.62|
|SLS-06||Nov 23, 2020||8||892||884||0.50||0.03||0.04||0.62|
|SLS-03||Sep 28, 2020||4||1014||1010||0.59||0.02||0.10||0.71|
|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)|
|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