Solaris Resources (TSX:SLS) Reports Assay Results Intersecting 626m of 0.50% CuEq From Surface in Expansion Drilling at Warintza East and Identifies New Higher Grade Porphyry Center Opening Southern Extension Potential

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

Solaris Resources Inc. (TSX:SLS) (OTCQB:SLSSF) has released assay results from several holes with the goal of expanding mineral resources and detecting a new, more concentrated porphyry center that could potentially extend to the south of the Warintza East discovery at the Warintza Project in southeastern Ecuador. The key findings, illustrated in Figure 1 and presented in Tables 1-2, are outlined below.

Mr. Jorge Fierro, Vice President, Exploration, commented in a press release: “Drilling to date confirms Warintza East as a significant porphyry deposit that adjoins Warintza Central and remains open for expansion, with a particular direction of focus to the south where extensional and step-out drilling is targeting higher grade mineralization associated with a newly identified southern porphyry center.”

Highlights from the results are as follows:

Warintza East was discovered in July 2021, with only eight holes completed prior to the cut-off for inclusion in the Warintza Central Mineral Resource Estimate (“MRE”)¹ in April 2022. Subsequent drilling has significantly expanded the dimensions of the deposit to the north, east and south, where it remains open. Recent drilling has now validated a southern vector toward stronger soil anomalism, identifying a second porphyry center producing higher grade mineralization and opening up further expansion potential in this direction.

  • SLSE-23 was collared in the middle of the Warintza East drill grid and drilled north, returning 626m of 0.50% CuEq² from surface within a broader interval of 746m of 0.46% CuEq², expanding the footprint to the north where it remains open
  • SLSE-24 was collared at the southeastern limit of the grid and drilled southwest into an open volume, returning 156m of 0.52% CuEq² from near surface within a broader interval of 410m of 0.30% CuEq², extending mineralization to the southwest where it remains open
  • SLSE-20 was collared in the middle of the drill grid and drilled east, returning 292m of 0.45% CuEq² from surface within a broader interval of 900m of 0.30% CuEq², expanding the footprint to the east where it remains open
  • SLSE-21 was collared at the southeastern limit of the grid and drilled east, returning 198m of 0.40% CuEq² within a broader interval of 1,040m of 0.33% CuEq² from surface, extending mineralization to the east where it remains open
  • SLSE-25 was collared from a new central platform and drilled vertically with a small drill rig specifically used for infill purposes, returning 110m of 0.46% CuEq² from 32m depth within a broader interval, upgrading this area with near surface, high-grade mineralization
  • Identification of a second porphyry center in SLSE-28, with visual interpretation suggesting potential for some of the strongest grades to date at Warintza East – the new porphyry center is located south of SLSE-22, which exited a weakly mineralized dyke into stronger mineralization over its final 40m, consistent with increased grades observed from SLSE-16 in this area (192m of 0.70% CuEq² from 350m depth within a broader interval of 712m of 0.45% CuEq² – refer to press release dated January 17, 2023)

Table 1 – Assay Results

Hole ID Date Reported From
(m)
To
(m)
Interval
(m)
Cu
(%)
Mo
(%)
Au
(g/t)
CuEq²
(%)
SLSE-25 Apr 3, 2023 0 300 300 0.21 0.02 0.03 0.30
Including 32 142 110 0.35 0.02 0.03 0.46
SLSE-24 10 420 410 0.23 0.01 0.04 0.30
Including 18 242 224 0.33 0.02 0.06 0.43
Including 26 182 156 0.41 0.02 0.07 0.52
SLSE-23 0 746 746 0.36 0.02 0.04 0.46
Including 0 626 626 0.40 0.02 0.05 0.50
SLSE-22 26 1080 1054 0.18 0.01 0.03 0.24
SLSE-21 0 1040 1040 0.26 0.01 0.04 0.33
Including 92 290 198 0.33 0.01 0.04 0.40
SLSE-20 0 900 900 0.24 0.01 0.03 0.30
Including 4 296 292 0.35 0.02 0.04 0.45
SLSE-16 Jan 17, 2023 8 720 712 0.36 0.02 0.05 0.45
Including 76 184 108 0.46 0.02 0.06 0.57
Including 350 542 192 0.59 0.02 0.07 0.70

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-25 801489 9648125 1170 300 0 -90
SLSE-24 801684 9648074 1221 722 250 -65
SLSE-23 801485 9648192 1170 748 0 -80
SLSE-22 801453 9647971 1234 1083 165 -80
SLSE-21 801684 9648074 1221 1071 90 -82
SLSE-20 801485 9648192 1170 905 90 -65
SLSE-16 801684 9648074 1221 845 225 -45
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 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. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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