VANCOUVER, BC, April 19, 2021 /CNW/ - 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, extending mineralization
between the western and eastern drilling and stepping out to the
north and south
- SLS-17 was collared on the western side of Warintza Central and
drilled into an entirely open volume to the south, returning
494m of 0.50% CuEq¹ from
surface, extending the southern limit of mineralization in this
direction
- SLS-18 was collared on the western side of Warintza Central and
drilled into an open volume to the southeast, returning
797m of 0.83% CuEq¹ from near
surface, including 370m of 0.94%
CuEq¹, adding mineralization between the western and eastern
drilling at Warintza Central
- SLS-20 was collared on the eastern side of Warintza Central and
drilled into an entirely open area to the north, returning
688m of 0.51% CuEq¹ from
surface, including 366m of 0.60%
CuEq¹, extending the limit of mineralization in
this direction
- To date, 28 holes have been drilled at Warintza Central with
results reported for 19 of these; results for SLS-19 were delayed
by geotechnical issues during drilling but are expected in the near
future
Mr. Jorge Fierro, Vice President,
Exploration, commented: "Our drilling continues to demonstrate
significant extensions of mineralization at Warintza Central with
the latest results expanding the drilled envelope to the north and
south and further establishing continuity between the eastern and
western drilling areas. Warintza Central remains open in all
directions. Maiden drilling targeting new discoveries at Warintza
East and South will commence this quarter in conjunction with
continued drilling at Warintza Central."
Table 1 – Warintza Central Assay Results
Hole
ID
|
Date
Reported
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Mo
(%)
|
Au
(g/t)
|
CuEq¹
(%)
|
SLS-20
|
April 19,
2021
|
18
|
706
|
688
|
0.35
|
0.04
|
0.05
|
0.51
|
Including
|
18
|
384
|
366
|
0.44
|
0.04
|
0.04
|
0.60
|
SLS-18
|
78
|
875
|
797
|
0.62
|
0.05
|
0.06
|
0.83
|
Including
|
80
|
450
|
370
|
0.71
|
0.05
|
0.07
|
0.94
|
SLS-17
|
12
|
506
|
494
|
0.39
|
0.02
|
0.06
|
0.50
|
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-20
|
800124
|
9648035
|
1580
|
816.35
|
0
|
-75
|
SLS-18
|
799676
|
9648117
|
1443
|
875.12
|
100
|
-70
|
SLS-17
|
799765
|
9648033
|
1571
|
788.97
|
180
|
-80
|
Notes to table: The
coordinates are in WGS84 17S Datum.
|
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 the
newly-discovered Yawi target (Warintza South lies off image to
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 words "will" and "expected" 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 that results for SLS-19 are
expected in the near future and that maiden drilling targeting new
discoveries at Warintza East and South will commence this quarter
in conjunction with continued drilling at Warintza Central.
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 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.
(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.
|
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SOURCE Solaris Resources Inc.