Solaris Resources (TSX:SLS) Expands Warintza East Discovery With New Assay Results

Figure 1 – Plan View of Warintza East Drilling Released to Date. Source: Solaris Resources

Solaris Resources (TSX:SLS) (OTCQB:SLSSF) has reported assay results from a series of holes aimed at delineating resources at the Warintza East discovery at the Warintza Project. These results significantly expand the Warintza East discovery originally discovered in July 2021, and included eight holes covering the overlapping periphery included in the Warintza Central Mineral Resource Estimate from April 2022. The results expand the dimensions of the Warintza East footprint to the east and southwest, and the deposit remains open towards strong soil anomalism to the northeast and southeast.

Mr. Jorge Fierro, Vice President, Exploration, commented in a press release: “Drilling to date covers only a small portion of the Warintza East discovery, which represents a target for major resource growth. Further extensional and step-out drilling is planned to the east and southeast with a 400m step-out platform located on the southern margin of the drill grid targeting strong soil anomalism in this area.”

Highlights from the results include:

  • SLSE-15 was collared in the middle of the Warintza East grid and drilled east into a partially open volume, returning 204m of 0.60% CuEq² within a broader interval of 910m of 0.40% CuEq² from near surface, extending mineralization to the east where it remains open

  • SLSE-14, stepped out approximately 250m from the eastern limit of the grid and drilled northwest into an open volume, returning 292m of 0.50% CuEq² within a broader interval of 694m of 0.40% CuEq² from near surface, extending mineralization in this direction where it remains open

  • SLSE-12 was collared at the eastern limit of the grid and drilled southwest into an open volume, returning 48m of 0.53% CuEq² within a broader interval of 508m of 0.40% CuEq² from surface, extending mineralization in this direction

  • SLSE-13 was collared from the same platform and drilled southwest into an open volume, returning 104m of 0.45% CuEq² within a broader interval of 618m of 0.29% CuEq² from surface, expanding the footprint to the south where it remains open

  • SLSE-10 and SLSE-11 were collared in the overlapping portion with Warintza Central and drilled northwest into partially open volumes, returning 282m of 0.53% CuEq² and 270m of 0.55% CuEq², respectively, within broader intervals from near surface

  • Drilling to date confirms Warintza East as a significant porphyry deposit which remains open for expansion in multiple areas, with assays pending from a series of extensional holes to the northeast, east and south

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

Table 1 – Assay Results

Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq² (%)
SLSE-15 Nov 14, 2022 124 1,034 910 0.31 0.02 0.04 0.40
Including 252 456 204 0.50 0.02 0.05 0.60
SLSE-14 24 718 694 0.29 0.02 0.04 0.40
Including 24 316 292 0.40 0.02 0.05 0.50
SLSE-13 4 622 618 0.22 0.01 0.03 0.29
Including 0 104 104 0.31 0.03 0.03 0.45
SLSE-12 0 508 508 0.29 0.02 0.04 0.40
Including 0 48 48 0.46 0.01 0.04 0.53
SLSE-11 112 600 488 0.30 0.01 0.03 0.38
Including 330 600 270 0.43 0.03 0.04 0.55
SLSE-10 78 576 498 0.33 0.01 0.05 0.39
Including 294 576 282 0.44 0.01 0.06 0.53
SLSE-09 0 773 773 0.18 0.03 0.03 0.30
Including 0 212 212 0.30 0.02 0.04 0.42

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)
SLSE-15 801134 9648177 1382 1070 85 -62
SLSE-14 801684 9648074 1221 872 300 -75
SLSE-13 801481 9648205 1170 800 215 -45
SLSE-12 801485 9648192 1170 981 245 -46
SLSE-11 800749 9648146 1282 862 285 -60
SLSE-10 800749 9648146 1282 691 300 -50
SLSE-09 801485 9648192 1170 774 271 -80
Notes to table: The coordinates are in WGS84 17S Datum.

Endnotes

  1. Refer to Solaris’ press release dated April 18, 2022 and technical report titled, “NI 43-101 Technical Report for the Warintza Project, Ecuador” with an effective date of April 1, 2022, prepared by Mario E. Rossi and filed on the Company’s SEDAR profile at www.sedar.com.
  2. Copper-equivalence calculated as: CuEq (%) = Cu (%) + 4.0476 × Mo (%) + 0.487 × Au (g/t), utilizing metal prices of US$3.50/lb Cu, US$15.00/lb Mo, and US$1,500/oz Au, and assumes recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical test work.

 

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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