Solaris Resources (TSX:SLS) Outlines 2024 Plans Including NYSE American Listing, Updated Warintza Resource in Q22024, Expanded Exploration

The Warintza Project. Source: Solaris Resources

Solaris Resources (TSX:SLS) (OTCQB:SLSSF) has made a series of new announcements for 2024 that set its plans for drilling, a new listing, and further progress at the Warintza Project. The company intends to list on the NYSE American Stock Exchange to give U.S. retail and institutional investors interested in Solaris expanded access to the stock. Solaris Resources will file a Form 40-F Registration Statement with the U.S. Securities and Exchange Commission prior to NYSE American listing. Subject to approval of the listing application and meeting all requirements, the company expects its shares to start trading on NYSE American in the first half of 2024.

In the second quarter of 2024, the company plans to release an updated mineral resource estimate for Warintza. The new estimate is expected to nearly double the drill meterage included compared to the previous estimate. It is anticipated to show major growth by expanding the deposit from extensional drilling at Warintza Central and Warintza East, and incorporating the recent Warintza Southeast discovery within a shared pit shell.

Solaris Resources also plans to commence its third phase of drilling at Warintza soon. This will include extensional drilling at Warintza East and Warintza Southeast where the deposits remain open. It also includes approximately 30 kilometres of infill drilling to further define mineral resources within the pit shell ahead of studies. Some holes will be extended to also provide technical data for mine design and planning.

Additional 2024 plans for Warintza exploration include a follow-up on the recent Patrimonio discovery. Initial reconnaissance holes there intersected 144 meters of 0.50% CuEq and 148 meters of 0.52% CuEq. Notably, these intercepts contained skarn mineralization whose source has not yet been found. Vectors for the mineralization trend northwest over 1 kilometer untested toward Warintza West, while the strongest soil anomalies at Patrimonio remain untested in the south.

The company also intends to revisit the El Trinche area forming Warintza Central’s southern low-grade margin. A near-surface high-grade intercept within a broader low-grade interval was interpreted as a dike, with orientations and alteration suggesting a potentially deeper, higher-grade system not yet located.

For regional exploration, fieldwork is planned to define drill targets at prospective areas from the program so far. These include Medio Camino, Clemente, Mateo, and Caya.

The company expects to finalize and submit the Environmental Impact Assessment for regulatory approval in the second half of 2024, after over three years of baseline monitoring and data collection. Follow-up programs for metallurgy, geotechnical and hydrogeological drilling will proceed under recently appointed COO Javier Toro through year-end, along with infrastructure, water, power and other studies.

 

 

 

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 specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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