Solaris Resources (TSX:SLS) Reports Significant Drill Results from Warintza Project, Mineral Estimate Expected Later This Month

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

Solaris Resources Inc. (TSX: SLS)(NYSEAmerican:SLSR) recently reported drill results from its ongoing 2024 drilling program at the Warintza Project in southeastern Ecuador. The latest findings include the final assays for the upcoming updated mineral resource estimate, anticipated later this month.

Drill hole SLSE-36, positioned at the southeasternmost platform at Warintza Southeast, revealed 148 meters of 0.72% copper equivalent (CuEq) within a larger interval of 325 meters of 0.51% CuEq from the surface. This hole remains open in strong mineralization, with the final 34 meters averaging 0.90% CuEq.
SLS-77, located on the northern boundary of the Northeast Extension of Warintza Central, returned 108 meters of 0.70% CuEq from near the surface within a broader interval of 273 meters of 0.57% CuEq from the surface.
SLS-78, drilled from a new platform 100 meters to the west, showed 78 meters of 0.70% CuEq within a larger interval of 114 meters of 0.65% CuEq from a depth of 72 meters before hitting low-grade granodiorite.
SLS-79, drilled from the same platform at a steeper inclination, returned 78 meters of 0.60% CuEq from near the surface within a broader interval of 248 meters of 0.50% CuEq, ending in strong mineralization.
SLST-03, drilled approximately 300 meters south of Warintza Central at the Trinche platform, aimed to convert undefined waste within the expected pit shell. This hole returned 312 meters of 0.62% CuEq within a larger interval of 1,028 meters of 0.30% CuEq from the surface.
Patrimonio hole 04, consistent with holes 01 and 02, intersected a roughly 150-meter thick tabular zone of replacement mineralization dipping shallowly to the west. The source of this mineralization has not yet been found. SLSP-03, collared at a higher elevation, intersected a low-grade layer in the host lava sequence before passing into a barren, post-mineral porphyry that intruded and displaced the targeted mineralized layer. Mineral alteration zoning and geochemistry suggest that the core of the mineralized system lies to the south.

The 2024 drill program has recently expanded to 60,000 meters, comprising 140 holes from 80 platforms, providing significantly improved drilling coverage. By the end of June, 27,000 meters in 74 holes were completed. Seven rigs are targeting over 8 kilometers of drilling in July, facilitated by improved site logistics from infrastructure development.

Current drilling focuses on Patrimonio exploration, resource extension at Warintza Southeast, and infill and technical drilling to support the Prefeasibility Study (PFS) in the second half of 2025. This includes geotechnical holes that are expected to provide insights into the geology of the Caya-Mateo epithermal gold and silver target area.

Solaris Resources’ continued efforts at the Warintza Project underscore its commitment to expanding and defining the mineral resources within this promising area. The anticipated updated mineral resource estimate will likely provide further clarity on the potential and future development of the Warintza Project.

Other results include:

Table 1 – Assay Results

Hole ID
Date Reported
From (m)
To (m)
Interval (m)
Cu (%)
Mo (%)
Au (g/t)
CuEq¹ (%)

SLS-79
July 09, 2024
15
263
248
0.41
0.02
0.05
0.50

Including
54
132
78
0.52
0.01
0.05
0.60

SLS-78
72
186
114
0.54
0.02
0.07
0.65

Including
93
171
78
0.58
0.02
0.08
0.70

SLS-77
0
273
273
0.43
0.02
0.10
0.57

Including
21
129
108
0.56
0.02
0.10
0.70

SLSE-36
0
325
325
 0.40
0.02
0.05
0.51

Including
177
325
148
 0.58
0.03
0.07
0.72

Including
291
325
34
 0.76
0.03
0.08
0.90

SLSP-04
30
204
174
0.25
0.02
0.06
0.35

Including
104
152
48
0.30
0.02
0.08
0.43

SLSP-03
0
310
310
0.10
0.01
0.04
0.14

SLST-03
16
1044
1028
 0.24
 0.01
 0.03
0.30

Including
646
958
312
 0.51
 0.02
 0.06
0.62

Notes to table: True widths are interpreted to be very close to drilled widths due to the bulk-porphyry style mineralized zones at Warintza.

Table 2 – Collar Locations

Hole ID
Easting
Northing
Elevation
(m)
Depth
(m)
Azimuth (degrees)
Dip (degrees)

SLS-79
800197
9648470
1340
263
270
-88

SLS-78
800197
9648469
1340
220
270
-65

SLS-77
800439
9648493
1271
324
320
-85

SLSE-36
801529
9647848
1154
325
220
-85

SLSP-04
799364
9647811
1526
309
145
-60

SLSP-03
799349
9647450
1627
310
40
-65

SLST-03
800192
9647550
1592
1123
330
-50

Notes to table: The coordinates are in WGS84 17S Datum.

Endnotes

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.

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.