Solaris Resources (TSX:SLS) Expands ‘Indicative Starter Pit’ at Warintza Central With Assays of 108m of 1.20% CuEq From Near Surface

Solaris Resources (TSX:SLS) (OTCQB:SLSSF) has reported assay results from a series of holes aimed at growing the Northeast Extension of its ‘Indicative Starter Pit’ at the Warintza Project. The company has defined a 1.5Bt copper inventory in an open pit with a low strip ratio at the Warintza Central deposit, and within that, a high-grade starter pit driving really robust economics, which makes it one of the best greenfield development copper opportunities available globally.

The newest results from the project continue to build on past successes of four significant discoveries, and expand the ‘Indicative Starter Pit’ previously estimated at 180Mt at 0.82% CuEq.

Mr. Jorge Fierro, Vice President, Exploration, commented in a press release: “The Northeast Extension remains open to the north with assays pending from recently completed holes. Further extensional drilling is planned with a 200m step-out platform on the northeastern margin of the drill grid aimed at expanding the zone in this direction. We’re also expecting assays from the remaining holes drilled from the discovery platform at Warintza West outlining a mineralized porphyry with minimum dimensions of 900m x 600m and open outside the MRE for future resource drilling, and the next series of holes targeting the expansion of Warintza East.”

Highlights from the results are as follows:

Resource expansion drilling continues to build on the Northeast Extension of the ‘Indicative Starter Pit’ which was estimated at 180 Mt at 0.82% CuEq¹ (Indicated) and 107 Mt at 0.73% CuEq¹ (Inferred) within the Warintza Mineral Resource Estimate² (“MRE”) based on drilling to the end of 2021. Follow-up drilling this year has significantly expanded the dimensions of the zone as a priority for high-impact growth with further drilling ongoing.

  • SLS-67 was collared at the north-central limit of Warintza Central and drilled southwest into a partially open volume, returning 108m of 1.20% CuEq¹ within a broader interval of 604m of 0.51% CuEq¹ from near surface
  • This hole expands on the area of high-grade near surface mineralization in combination with SLS-48 which was collared from the same platform but drilled south, returning 100m of 1.64% CuEq³ within a broader interval of 852m of 0.56% CuEq³ from near surface (refer to press release dated Feb 28, 2022)
  • SLS-68 was collared from the same platform as SLS-67 and drilled steeply to the northwest into an open volume, returning 72m of 1.00% CuEq¹ within a broader interval of 616m of 0.44% CuEq¹ from near surface, expanding this area of higher-grade mineralization from near surface
  • SLS-65 was collared from a recently constructed 250m step-out platform at the northeast limit of the Warintza Central grid and drilled northwest into a partially open volume, returning 286m of 0.55% CuEq¹ from near surface
  • Assays are pending from a series of holes from this new drill platform aimed at further expanding resource growth in the Northeast Extension zone, with additional extension and step-out drilling underway 

Figure 1 – Plan View of Warintza Central Drilling Released to Date

Source: Solaris Resources

Table 1 – Assay Results

Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-68 Dec 5, 2022 44 660 616 0.34 0.02 0.04 0.44
Including 68 140 72 0.88 0.02 0.06 1.00
SLS-67 42 646 604 0.40 0.02 0.05 0.51
Including 42 150 108 1.06 0.03 0.09 1.20
SLS-65 88 374 286 0.38 0.04 0.06 0.55
Notes to table: True widths of the mineralized zone are not known at this time.

Table 2 – Collar Location

Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-68 800178 9648285 1439 662 332 -85
SLS-67 800178 9648285 1439 673 230 -76
SLS-65 800347 9648415 1346 401 290 -70
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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