Solaris Resources (TSX:SLS) Extends High-Grade Mineralization Near Surface at Warintza Project, Reports 87m of 1.23% CuEq, 93m of 1.01% CuEq and 84m of 1.00% CuEq

Figure 1 – Warintza Drilling and Targets. Source: Solaris Resources

Solaris Resources (TSX:SLS) (NYSEAmerican:SLSR) has announced assay results from its ongoing 2024 drilling program at the Warintza Project in southeastern Ecuador. The results reveal high-grade mineralization near the surface, improving previously modeled grades and expanding the potential of the resource in several key areas of the site.

The company, which has drilled over 53,000 meters by the end of the third quarter of 2024, is aiming to exceed its 60,000-meter target for the year. The latest drill holes, SLS-103, SLSE-54, SLS-102, and SLSE-52, add significant mineralization in areas that had not been extensively drilled. Holes SLS-103 and SLSE-54, located in the northwest and northeast sectors, respectively, have intersected new high-grade mineralization at surface, with much of the mineralization falling outside the current Mineral Resource Estimate (MRE). This marks an important step in expanding the known resource, as these results indicate higher grades than previously modeled in these regions.

Key intercepts include 87 meters of 1.23% CuEq, 93 meters of 1.01% CuEq, and 84 meters of 1.00% CuEq. These findings bolster the company’s ongoing efforts to improve the quality of the resource, particularly in sparsely drilled zones within the northwest, north, and northeast areas of the project.

In addition to the resource expansion efforts, Solaris is conducting exploration drilling in an area featuring a large soil anomaly on the opposite side of a granodiorite formation, which shapes the northwestern pit wall. Assays from this exploration are expected in the coming weeks.

With high productivity on-site due to infrastructure investments, Solaris remains on track to exceed its 2024 drilling plan. Current efforts include drilling focused on expanding open extensions of the resource, infill drilling to upgrade existing resources, and further geotechnical and condemnation drilling.

Highlights from the results include: 

Northwest, North and Northeast Sectors:

SLS-102 (drilled northwest): 93m of 1.01% CuEq² within 156m of 0.74% CuEq² from surface
SLS-103 (drilled north): 87m of 1.23% CuEq² within 528m of 0.59% CuEq² from surface
SLS-104 (drilled southeast): 84m of 1.00% CuEq² within 485m of 0.77% CuEq² from surface
SLSE-54 (drilled southwest): 258m of 0.52% CuEq² within 399m of 0.41% CuEq² from surface

Table 1 – Mineral Resource Extension, Infill and Condemnation Results

Hole ID
Date
Reported
From
(m)
To
(m)
Interval
(m)
Cu
(%)
Mo
(%)
Au
(g/t)
CuEq²
(%)
Comments

SLS-104
Oct 7, 2024
0
485
485
0.56
0.03
0.06
 0.77
Northern sector – infill

Including
45
129
84
0.82
0.02
0.07
 1.00

Including
45
255
210
0.69
0.03
0.07
 0.90

Including
45
485
440
0.61
0.03
0.06
 0.82

SLS-103
0
528
528
0.26
0.05
0.04
0.59
Northwest sector – infill and extensional

Including
21
108
87
1.00
0.03
 0.11
1.23

Including
21
483
462
0.29
0.06
0.05
0.64

Including
240
345
105
0.28
0.08
 0.02
0.72

SLS-102
0
156
156
0.46
0.04
0.08
0.74
Northwest sector – infill

Including
57
150
93
0.73
0.04
0.09
1.01

SLS-101
0
307
307
0.06
0.01
0.02
0.14
Northwest sector – condemnation

SLSE-60
0
290
290
0.16
0.01
0.03
0.23
Northeast sector – infill

Including
93
290
197
0.21
0.01
0.04
0.30

Including
141
290
149
0.24
0.01
0.05
0.35

Including
207
290
83
0.28
0.02
0.03
0.43

SLSE-58
0
453
453
0.03
0.00
0.01
0.04
Northeast sector – condemnation

SLSE-57
0
660
660
0.22
0.01
0.05
0.30
Southeast sector – extensional

Including
552
660
108
0.49
0.02
0.06
0.61

SLSE-56
0
381
381
0.09
0.00
0.03
0.11
Northeast sector – condemnation

SLSE-55
0
473
473
0.12
0.00
0.02
0.16
Northeast sector – condemnation

SLSE-54
0
399
399
0.29
0.01
0.04
0.41
Northeast sector – infill and extensional

Including
0
258
258
0.37
0.02
0.05
0.52

Including
81
231
150
0.43
0.02
0.05
0.60

SLSE-53
0
455
455
0.04
0.00
0.02
0.07
Northeast sector – condemnation

SLSE-52
0
138
138
0.15
0.01
0.03
0.23
Southeast sector – condemnation

SLSE-51
0
257
257
0.15
0.01
0.03
0.20
Southeast sector – condemnation

Notes to Table 1: 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-104
800383
9648303
1411
485
110
-70

SLS-103
799760
9648031
1575
528
360
-56

SLS-102
799568
9648147
1403
253
315
-60

SLS-101
799760
9648031
1575
307
180
-45

SLSE-60
801800
9648235
1102
290
243
-54

SLSE-58
801806
9648243
1098
454
90
-58

SLSE-57
801150
9647610
1396
660
45
-60

SLSE-56
801163
9648335
1309
382
326
-71

SLSE-55
801597
9648134
1155
473
25
-50

SLSE-54
801596
9648136
1154
481
240
-70

SLSE-53
801802
9648239
1100
455
23
-68

SLSE-52
801248
9647968
1252
354
270
-46

SLSE-51
801246
9647967
1252
257
225
-45

Notes to Table 2: The coordinates are in WGS84 17S Datum.

Endnotes

Refer to the technical report entitled “Mineral Resource Estimate Update – NI 43-101 Technical Report, Warintza Project, Ecuador” with an effective date of July 1, 2024 and available on SEDAR+ under the Company’s profile at www.sedarplus.ca and on the Company’s website.
Copper-equivalence grade calculation for reporting assumes metal prices of US$4.00/lb Cu, US$20.00/lb Mo, and US$1,850/oz Au, and recoveries of 90% Cu, 85% Mo, and 70% Au based on preliminary metallurgical testwork. CuEq formula: CuEq (%) = Cu (%) + 5.604 × Mo (%) + 0.623 × Au (g/t).

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.