VANCOUVER, BC, March 22, 2021 /PRNewswire/ - Solaris
Resources Inc. (TSX: SLS) (OTCQB: SLSSF) ("Solaris" or the
"Company") is pleased to report assay results from a series of
additional holes from the ongoing resource growth and discovery
diamond drilling program at its Warintza Project ("Warintza" or
"the Project") in south-eastern Ecuador.
Highlights are listed below, with corresponding images in
Figures 1-2 and detailed results in Tables 1-2. An updated dynamic
3D model is available on the Company's website.
Highlights
- Three additional holes at Warintza Central, as detailed below,
have returned long intervals of high-grade mineralization, with the
highest grades starting from surface, and extending mineralization
between the eastern and western drilling and stepping out to the
southwest.
- SLS-14 was collared on the western side of Warintza Central and
drilled into an open volume to the east, returning 922m of 0.94% CuEq¹ (0.79% Cu, 0.03% Mo, and 0.08
g/t Au) from surface, including 850m
of 0.98% CuEq¹ (0.82% Cu, 0.03% Mo, and 0.08 g/t Au),
significantly extending the limits of mineralization
- SLS-15 returned 1,002m of
0.60% CuEq¹ (0.52% Cu, 0.01% Mo, and 0.04 g/t Au) from surface,
including 694m of 0.67% CuEq¹ (0.57%
Cu, 0.02% Mo, and 0.05 g/t Au) within a broader interval of
1,229m of 0.56% CuEq¹ (0.48% Cu,
0.01% Mo, and 0.04 g/t Au), stepping out to the southeast and
extending mineralization to depth
- SLS-16 returned 958m of
0.77% CuEq¹ (0.63% Cu, 0.03% Mo, and 0.06 g/t Au) from near
surface, including 486m of 0.84%
CuEq¹ (0.70% Cu, 0.03% Mo, and 0.07 g/t Au), extending
mineralization between the eastern and western drilling at Warintza
Central
- To date, 20,200 metres have been drilled at Warintza Central in
25 holes of which results have been reported for 16; drilling is
ongoing with six rigs currently operating and increasing to 12 by
mid-year
Mr. Jorge Fierro, Vice President,
Exploration, commented: "Our drilling continues to demonstrate
significant extensions of mineralization at Warintza Central with
the latest results suggesting the continuity of high-grade
mineralization between the eastern and western areas and extending
the mineralized envelope to the southeast. Our exploration drilling
recently resulted in a new discovery at Warintza West, with maiden
drilling targeting new discoveries at Warintza East and South
commencing in the second quarter."
(1) No adjustments
were made for recovery as the project is an early-stage exploration
project and metallurgical data to allow for estimation of
recoveries is not yet available. Solaris defines copper equivalent
calculation for reporting purposes only. Copper-equivalence
calculated as: CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au
(g/t), utilizing metal prices of Cu - US$3.00/lb, Mo - US$10.00/lb
and Au - US$1,500/oz.
|
Table 1 – Warintza Central Assay Results
Hole
ID
|
Date
Reported
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Mo
(%)
|
Au
(g/t)
|
CuEq¹
(%)
|
SLS-16
|
Mar 22,
2021
|
20
|
978
|
958
|
0.63
|
0.03
|
0.06
|
0.77
|
Including
|
358
|
844
|
486
|
0.70
|
0.03
|
0.07
|
0.84
|
SLS-15
|
2
|
1231
|
1229
|
0.48
|
0.01
|
0.04
|
0.56
|
Including
|
2
|
1004
|
1002
|
0.52
|
0.01
|
0.04
|
0.60
|
Including
|
2
|
696
|
694
|
0.57
|
0.02
|
0.05
|
0.67
|
SLS-14
|
0
|
922
|
922
|
0.79
|
0.03
|
0.08
|
0.94
|
Including
|
34
|
884
|
850
|
0.82
|
0.03
|
0.08
|
0.98
|
Including
|
52
|
836
|
784
|
0.84
|
0.03
|
0.09
|
1.00
|
SLS-13
|
Feb 22,
2021
|
6
|
468
|
462
|
0.80
|
0.04
|
0.09
|
1.00
|
SLS-12
|
22
|
758
|
736
|
0.59
|
0.03
|
0.07
|
0.74
|
SLS-11
|
6
|
694
|
688
|
0.39
|
0.04
|
0.05
|
0.57
|
SLS-10
|
2
|
602
|
600
|
0.83
|
0.02
|
0.12
|
1.00
|
SLS-09
|
122
|
220
|
98
|
0.60
|
0.02
|
0.04
|
0.71
|
SLS-08
|
Jan 14,
2021
|
134
|
588
|
454
|
0.51
|
0.03
|
0.03
|
0.62
|
SLS-07
|
0
|
1067
|
1067
|
0.49
|
0.02
|
0.04
|
0.60
|
SLS-06
|
Nov 23,
2020
|
8
|
892
|
884
|
0.50
|
0.03
|
0.04
|
0.62
|
SLS-05
|
18
|
936
|
918
|
0.43
|
0.01
|
0.04
|
0.50
|
SLS-04
|
0
|
1004
|
1004
|
0.59
|
0.03
|
0.05
|
0.71
|
SLS-03
|
Sep 28,
2020
|
4
|
1014
|
1010
|
0.59
|
0.02
|
0.10
|
0.71
|
SLS-02
|
0
|
660
|
660
|
0.79
|
0.03
|
0.10
|
0.97
|
SLS-01
|
Aug 10,
2020
|
1
|
568
|
567
|
0.80
|
0.04
|
0.10
|
1.00
|
Notes to table:
Grades are uncut and true widths have not been
determined.
|
Table 2 – Collar Locations for New Drill Holes
Hole
ID
|
Easting
|
Northing
|
Elevation
(m)
|
Depth
(m)
|
Azimuth
(degrees)
|
Dip
(degrees)
|
SLS-16
|
800124
|
9648035
|
1580
|
1033
|
272
|
-77
|
SLS-15
|
800191
|
9648059
|
1580
|
1231
|
222
|
-80
|
SLS-14
|
799765
|
9648033
|
1571
|
1020
|
85
|
-80
|
Notes to table: The
coordinates are in WGS84 17S Datum.
|
Figure 1 – Long Section of 3D
Geophysics Looking Northeast
Note to Figure 1: Figure looks northeast and depicts
high-conductivity geophysical anomaly (defined at 100 ohm-m)
generated from 3D inversion of electromagnetic data, encompassing
from left to right Warintza West, Central, East and
newly-discovered Yawi target (Warintza South lies off image to
south).
Figure 2 - Long Section of 3D
Geophysics Looking Northeast at Warintza South
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. ALS Labs is independent from Solaris. In addition,
selected pulp check samples are sent to Bureau Veritas lab 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 herein.
Qualified Person
The scientific and technical content of this press release and
the sampling, analytical and test data underlying the scientific
and technical content has been compiled, reviewed, approved, and
verified 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. The data was verified using
data validation and quality assurance procedures under high
industry standards. ZTEM data quality was validated by a qualified
external professional.
On behalf of the Board of Solaris Resources Inc.
"Daniel Earle"
President & CEO, Director
About Solaris Resources Inc.
Solaris is advancing 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 grass-roots Tamarugo project in Chile and Capricho and Paco Orco projects in Peru; exposure to US$130M spending / 5-yrs through a farm-out
agreement with Freeport-McMoRan on the Ricardo Project in
Chile; and significant leverage to
increasing copper prices through the 60%-interest in the
development-stage La Verde
joint-venture project with 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 word "will" and "planned" and similar
expressions are intended to identify forward-looking statements.
These statements include statements regarding our intent, or the
beliefs or current expectations of our officers and directors,
including statements made with respect to future drilling plans,
that six more drill rigs will be added by mid-year, and that maiden
drilling targeting new discoveries at Warintza East and South will
commence in the second quarter. Although Solaris believes that the
expectations reflected in such forward-looking statements and/or
information are reasonable, undue reliance should not be placed on
forward-looking statements since Solaris can give no assurance that
such expectations will prove to be correct. 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 advance its projects and 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 latest Solaris
Management's Discussion and
Analysis and Annual Information Form 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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SOURCE Solaris Resources Inc.