Solaris Resources (TSX:SLS) Confirms Discovery at Second Porphyry Centre and Higher Grade Growth Potential at Warintza East

Solaris Resources Inc. (TSX:SLS) has announced the identification of an additional, significantly more mineral-rich porphyry centre located 350 meters south of the initial finding at Warintza East. This new discovery presents promising prospects for enhanced grades and further expansion of the Warintza Project in the southeastern region of Ecuador.

Source: Solaris Resources. Note to Figure 1: the southern porphyry center at Warintza East is characterized by chalcopyrite-pyrite-molybdenite mineralization in stockwork veins with green/grey sericite haloes and disseminations in potassic-altered andesite porphyry cut by intermineral quartz-diorite porphyry. The total sulphide abundance is significantly greater than the original discovery.
Highlights from the results are as follows:
  • Warintza East was discovered in July 2021, with eight holes included in the Warintza Central Mineral Resource Estimate (“MRE”)¹ in April 2022 and subsequent drilling significantly expanding the dimensions of the deposit – the latest drilling in SLSE-28 has confirmed the discovery of a second and more intensely mineralized porphyry center 350m south of the original discovery
  • SLSE-28 was drilled vertically to the limit of the KD-200 rig at 309m with strong mineralization from 19m to the end of the hole characterized by chalcopyrite-pyrite-molybdenite in stockwork veins and disseminations, similar to the high grade portions of the Warintza Central deposit
  • Full assay results from SLSE-28 are expected within four to six weeks while follow-up hole
    SLSE-29 (in progress) is being drilled southeast from a recently constructed platform testing the extension of this new porphyry center up to 200m to the east in this area
  • This new porphyry center is located on the southern margin of Warintza East drilling and correlates with mineralization encountered in the high grade portion of prior hole SLSE-16 in this area (192m of 0.70% CuEq² – refer to press release dated April 3, 2023)
  • The reader should be cautioned that only assay results from a certified third-party laboratory can confirm whether concentrations of metals are present in these drill holes and, as such, visual core characterization presented herein should be viewed as speculative in nature
  • MRE drilling program continues: the 2022 MRE is based on drilling to the end of 2021, with ongoing drilling aimed at expanding the ‘Indicative Starter Pit’³ and overall mineral resources, notably from the Warintza East deposit
Figure 2 – Plan View of Warintza East Drilling Released to Date. 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.

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