Solaris Reports 105m of 0.60% CuEq and 132m of 0.60% CuEq from Near Surface; Continued Expansion of Warintza East and Warintza Southeast
24 7월 2023 - 8:00PM
Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF)
(“Solaris” or the “Company”) is pleased to report assay results
from a series of holes aimed at growing mineral resources at the
Warintza Project (“Warintza” or “the Project”) in southeastern
Ecuador. Highlights are listed below, with a corresponding image in
Figure 1 and results in Tables 1-2.
Highlights
Warintza East was discovered in July 2021, with
eight drill holes included in the Warintza Central Mineral Resource
Estimate (“MRE”)¹ in April 2022. Subsequent drilling has
significantly expanded the dimensions of the deposit, with drilling
targeting further resource growth to the north, northeast, east and
southwest.
- SLSE-27 was collared on the eastern
limit of the Warintza East drill grid and drilled vertically to the
limit of the KD-200 rig, returning 132m of 0.60% CuEq² from
near surface within a broader interval of 246m of 0.55% CuEq²,
bottoming in mineralization and remaining open at
depth
- SLSE-26 was collared 100m north of
SLSE-27 and drilled vertically to the limit of the KD-200 rig,
returning 212m of 0.52% CuEq² within a broader interval of
310m of 0.45% CuEq² from surface, ending in mineralization and
remaining open at depth
- Step-out and deeper
drilling is planned with two platforms under construction and a
further six scheduled to extend the drilling grid to the north,
northeast, east, and southwest
Warintza Southeast was discovered in May 2023 as
a distinct, higher-grade porphyry center to the south of Warintza
East beyond the limit of the MRE and offers potential to add
higher-grade mineral resources, with deeper drilling underway and
significant step-outs to the southeast planned.
- These holes follow discovery hole
SLSE-28, which returned an open-ended interval of 301m of 0.65%
CuEq² in a favourable andesite porphyry host (see press release
dated June 1, 2023), and helps establish the geometry of the upper
part of the system and vectors for further drilling
- SLSE-29 was collared east of
SLSE-28 and drilled southeast to the limit of the KD-200 rig
through a less receptive intermineral diorite porphyry,
returning 175m of 0.50% CuEq² within 289m of 0.40% CuEq²
from near surface, with the final 105m averaging 0.60% CuEq² and
open to depth
- SLSE-30 was collared west of
discovery hole SLSE-28 and drilled southeast to the limit of the
KD-200 rig, returning 30m of 0.53% CuEq² from near surface
within a broader interval of 275m of 0.48% CuEq², with the final
41m averaging 0.60% CuEq² and remaining open to depth
- Deeper drilling targeting
extensions of higher-grade intervals noted at the end of each hole
is underway and two additional platforms are under construction for
step-outs 250m and 500m to the southeast where XRF³ values of 0.3%
to 0.5% Cu in andesite porphyry were recorded
Figure 1 – Plan View of Warintza East
and Warintza Southeast Drilling Released to Date
https://www.globenewswire.com/NewsRoom/AttachmentNg/eeb6fde1-a3a3-481d-9dff-c1747c19941b
Table 1 – Assay Results
Hole ID |
Date Reported |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Mo (%) |
Au (g/t) |
CuEq² (%) |
SLSE-30 |
Jul 24, 2023 |
34 |
309 |
275 |
0.40 |
0.01 |
0.05 |
0.48 |
Including |
34 |
64 |
30 |
0.42 |
0.02 |
0.05 |
0.53 |
Including |
268 |
309 |
41 |
0.51 |
0.01 |
0.08 |
0.60 |
SLSE-29 |
20 |
309 |
289 |
0.31 |
0.02 |
0.05 |
0.40 |
Including |
134 |
309 |
175 |
0.39 |
0.02 |
0.05 |
0.50 |
Including |
204 |
309 |
105 |
0.49 |
0.02 |
0.07 |
0.60 |
SLSE-27 |
48 |
294 |
246 |
0.43 |
0.02 |
0.07 |
0.55 |
Including |
50 |
182 |
132 |
0.47 |
0.02 |
0.06 |
0.60 |
SLSE-26 |
0 |
310 |
310 |
0.34 |
0.02 |
0.05 |
0.45 |
Including |
24 |
236 |
212 |
0.40 |
0.02 |
0.06 |
0.52 |
SLSE-28 |
Jun 1, 2023 |
8 |
309 |
301 |
0.54 |
0.02 |
0.07 |
0.65 |
Including |
278 |
309 |
31 |
0.68 |
0.01 |
0.07 |
0.76 |
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-30 |
801389 |
9647867 |
1184 |
309 |
150 |
-80 |
SLSE-29 |
801467 |
9647904 |
1180 |
309 |
150 |
-80 |
SLSE-28 |
801438 |
9647864 |
1162 |
309 |
0 |
-90 |
SLSE-27 |
801574 |
9648054 |
1218 |
294 |
0 |
-90 |
SLSE-26 |
801593 |
9648138 |
1153 |
310 |
0 |
-90 |
Notes to table: The coordinates are in WGS84 17S
Datum.
Endnotes |
1. |
Refer to Solaris’ 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. |
3. |
X-ray fluorescence ("XRF") is a non-destructive analytical
technique used to determine the elemental composition of materials
such as drill core. XRF analyzers determine the chemistry of a
sample by measuring the fluorescent (or secondary) X-ray emitted
from a sample when it is excited by a primary X-ray source. It
should be noted that the results only provide an indication of the
amount of copper, molybdenum and gold present. Certified assaying
of the core samples is still required to accurately determine the
amount of base metal and precious metal mineralization. |
|
|
Technical Information and Quality
Control & Quality Assurance
Sample assay results have been independently
monitored through a quality control/quality assurance (“QA/QC”)
program that includes the insertion of blind certified reference
materials (standards), blanks and field duplicate samples. Logging
and sampling are completed at a secured Company facility located in
Quito, Ecuador. Drill core is cut in half on site and samples are
securely transported to ALS Labs in Quito. Sample pulps are sent to
ALS Labs in Lima, Peru and Vancouver, Canada for analysis. Total
copper and molybdenum contents are determined by four-acid
digestion with AAS finish. Gold is determined by fire assay of a
30-gram charge. In addition, selected pulp check samples are sent
to Bureau Veritas lab in Lima, Peru. Both ALS Labs and Bureau
Veritas lab are independent of Solaris. XRF is a non-destructive
analytical technique used to determine the elemental composition of
materials such as drill core. XRF analyzers determine the chemistry
of a sample by measuring the fluorescent (or secondary) X-ray
emitted from a sample when it is excited by a primary X-ray source.
It should be noted that the results only provide an indication of
the amount of copper, molybdenum and gold present. Certified
assaying of the core samples is still required to accurately
determine the amount of base metal and precious metal
mineralization. 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 herein. Details on the
surface sampling conducted at the Project are set out in the
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 available on the Company’s SEDAR
profile and website. The drillhole data has been verified by Jorge
Fierro, M.Sc., DIC, PG, using data validation and quality assurance
procedures under high industry standards.
Qualified Person
The scientific and technical content of this
press release has been reviewed and approved by Jorge Fierro,
M.Sc., DIC, PG, Vice President Exploration of Solaris who is a
“Qualified Person” as defined in National Instrument 43-101
Standards of Disclosure for Mineral Projects. Jorge Fierro is
a Registered Professional Geologist through the SME (registered
member #4279075).On behalf of the Board of Solaris
Resources Inc.
“Daniel Earle”President & CEO, Director
For Further Information
Jacqueline Wagenaar, VP Investor RelationsDirect: 416-366-5678
Ext. 203Email: jwagenaar@solarisresources.com
About Solaris Resources
Inc.
Solaris is a multi-asset exploration company,
advancing a portfolio of copper and gold assets in the Americas,
which includes: its primary focus, a world class large-scale
resource with expansion and discovery potential at the Warintza
Project in Ecuador; discovery potential at its Ricardo Project and
Tamarugo Project in Chile; discovery potential at its Capricho and
Paco Orco projects in Peru; and significant leverage to increasing
copper prices through its 60% interest in the La Verde
joint-venture project with a subsidiary of Teck Resources in
Mexico.
Cautionary Notes and Forward-looking
Statements
This document contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation (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 that subsequent
drilling at Warintza East has significantly expanded the dimensions
of the deposit, with drilling targeting further resource growth to
the north, northeast, east and southwest where step-out and deeper
drilling is planned with two platforms under construction and a
further six in the works to extend the drilling grid to the north,
northeast, east, and southwest, Warintza Southeast offers potential
to add higher-grade mineral resources with deeper drilling
targeting extensions of higher-grade intervals noted at the end of
each hole is underway and two additional platforms are under
construction for step-outs 250m and 500m to the southeast where XRF
values of 0.3% to 0.5% Cu in andesite porphyry were recorded.
Although Solaris believes that the expectations reflected in such
forward-looking statements and/or information are reasonable,
readers are cautioned that actual results may vary from the
forward-looking statements. These statements are based on a variety
of assumptions including assumptions made about the Company’s
ability to advance exploration efforts at the Warintza Project; the
results of such exploration efforts; and the Company’s ability to
achieve 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 the
risks, uncertainties and other factors identified in the Solaris
Management’s Discussion and Analysis, for the year ended December
31, 2022 available at www.sedar.com. Furthermore, the
forward-looking statements contained in this news release are made
as at the date of this news release and Solaris does not undertake
any obligation to publicly update or revise any of these
forward-looking statements except as may be required by applicable
securities laws.
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