Solaris announces important new discovery in Warintza East – resource world magazine
Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or the “Company”) is pleased to announce a significant new discovery in connection with the first drilling of the Warintza East target on its Warintza project (“Warintza” or “ the project ”) in south-eastern Ecuador.
The highlights are listed below, with the corresponding images in Figures 1 and 2 and the results detailed in Tables 1-2. A dynamic 3D model is available on the Company’s website.
- SLSE-01 was the first hole ever drilled at Warintza East and drilled approximately 1,300m east of Warintza Central, where a recent extension drilling to the east intersected 1,000m of 0.60% of CuEq¹ from the surface (see press release of July 7, 2021), with the area still open in that direction
- SLSE-01 was drilled to a total depth of 1,213m with assays reported here for the first 320m of core from surface, which were prioritized for transport, cutting, preparation and analysis – the results for the rest of the hole are expected at the end of August / Beginning of September
- SLSE-01 returned 320 m of 0.46% CuEq¹ from the surface, including 54 m of 0.70% CuEq¹, in an open interval, marking a significant new surface discovery at Warintza East, one of the five primary targets from the 7 km x 5 km group of porphyry targets. set on property
- Warintza East is defined by coincident copper and molybdenum soil anomalies, approximately 1200 m in length, and a high conductivity geophysical anomaly extending from the target to Warintza Central (see Figure 1).
- Further drilling will target the Warintza East expansion, with a focus on the open area between Warintza Central and this new discovery (see Figure 2)
Mr. Jorge Fierro, Vice President, Exploration, commented: “The discovery at Warintza East marks the third major discovery of copper in the massive 7 km x 5 km Warintza porphyry pile. Importantly, the Warintza East footprint overlaps with the conceptual designs of the Warintza Central pit, which itself continues to grow eastward with recent results. Future drilling will focus on the open and undrilled area between these two areas. “
Figure 1 – Long section of 3D geophysics looking northeast
Figure 2 – Plan view
Table 1 – Partial results of Warintza East
Technical information and quality control and quality assurance
The results of sample analyzes have been independently verified through a quality control / quality assurance (“QA / QC”) program that includes the insertion of certified blind reference materials (standards), blanks and duplicate samples in the field. Logging and sampling is carried out at a secure facility of the company located in Quito, Ecuador. The drill core is cut in half on site and the samples are transported safely to ALS Labs in Quito. Pulp samples are sent to ALS Labs in Lima, Peru and Vancouver, Canada for analysis. The total copper and molybdenum contents are determined by four acid digestion with AAS finish. Gold is determined by fire assay of a 30 gram load. ALS Labs is independent from Solaris. In addition, selected pulp control samples are sent to the Bureau Veritas laboratory in Lima, Peru. Solaris is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to in this document. The quality of the ZTEM data has been validated by a qualified external professional using data validation procedures that meet high industry standards. The analytical data for the surface samples collected comes from recent interpretations derived from ZTEM data and from previous operators, as detailed in the technical report titled “Resource Estimate of the Warintza Central Cu-Mo Porphyry Deposit” prepared by Equity Exploration Consultants Inc . dated December 13, 2019 and available on the Company’s profile and website on SEDAR. Drill data has been verified by Donald Taylor using data validation and quality assurance procedures to high industry standards.
The scientific and technical content of this press release has been reviewed and approved by Donald Taylor, MSc., PG, Director of Solaris, who is a “qualified person” within the meaning of National Instrument 43-101. Disclosure standards for mining projects. Donald Taylor is a registered professional geologist through the SME (Registered Member # 4029597).
On behalf of the Board of Directors of Solaris Resources Inc.
President and CEO, Director
For more information
Jacqueline Wagenaar, Vice President of Investor Relations
Direct: 416-366-5678, ext. 203
Email: [email protected]
About Solaris Resources Inc.
Solaris is developing a portfolio of copper and gold assets in the Americas, which includes: a high-grade resource with expansion and additional discovery potential at the Warintza copper and gold project in Ecuador; discovery potential on the local Tamarugo project in Chile and the Capricho and Paco Orco projects in Peru; exposure to expenditure of US $ 130 million / 5 years through a farm-out agreement with Freeport-McMoRan on the Ricardo project in Chile; and significant leverage to increase copper prices through its 60% stake in the La Verde joint venture project with Teck Resources in Mexico.
Cautions and forward-looking statements
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking statements”). The use of the words “will” and “expected” and similar expressions are intended to identify forward-looking statements. These statements include statements regarding further SLSE-01 drill results expected for the remainder of the hole in late August / early September, additional drilling to target the Warintza East expansion, with a focus on the open area between Warintza Central and this new discovery, that the Warintza East footprint overlaps with the conceptual designs of the Warintza Central pit, which itself continues to grow with recent results, and that future drilling will focus on the open area and undrilled between Warintza Central and Warintza East. Although Solaris believes that the expectations reflected in such forward-looking statements and / or information are reasonable, readers are cautioned that actual results may differ from forward-looking statements. These statements are based on a variety of assumptions, including assumptions made about the Company’s ability to advance exploration efforts on the Warintza project; the results of these exploration efforts; and the Company’s ability to meet its growth objectives. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks, uncertainties and other factors identified in the Solaris’ management report for the year ended December 31, 2020 available at www.sedar.com. Further, the forward-looking statements contained in this press release are made as of the date of this press release, and Solaris assumes no obligation to publicly update or revise such forward-looking statements, except as applicable securities laws. require it. .