VANCOUVER, BC, Sept. 27, 2021 /CNW/ - Solaris Resources
Inc. (TSX: SLS) (OTCQB: SLSSF) ("Solaris" or the "Company") is
pleased to report additional assay results from its recent Warintza
East discovery within its Warintza Project ("Warintza" or "the
Project") in southeastern Ecuador.
Highlights are listed below, with corresponding images in
Figures 1 - 2 and detailed results in Tables 1-2. A dynamic 3D
model is available on the Company's website and will be updated to
incorporate the most recent results.
Highlights
- The first two holes at Warintza East, as detailed below, both
returned long intervals of copper porphyry mineralization from
surface across a significant portion of the undrilled gap to
Warintza Central, suggesting potential continuity between the two
zones
- Visual observation of mineralization in the second hole and
step-out drilling completed northeast of Warintza Central suggest
an offset in the east-west corridor of higher-grade mineralization
to the north that is being targeted in ongoing drilling
- SLSE-01, collared approximately 1,300m east of Warintza Central and drilled to
the southwest, returned 396m of 0.42%
CuEq¹ from surface, with the full length of the hole of
1,213m assaying 0.28% CuEq¹
- SLSE-02, collared from the same platform but drilled to the
northwest, returned 320m of 0.48%
CuEq¹, including 62m of 0.68% CuEq¹
from surface, from the first 320m of
core for which assays have been received, with the last
10m of the interval grading 0.47%
CuEq¹
- Visual observation of core from SLSE-02 suggests that a much
broader interval of mineralization may exist than the portion for
which assays have been received and reported herein; remaining
assays are expected in October, along with the results of step-out
drilling from Warintza Central
- Warintza East is the third major discovery within the 7km x 5km
Warintza porphyry cluster and is defined by coincident copper and
molybdenum soil anomalies, measuring approximately 1,200m in strike, and a high-conductivity
geophysical anomaly that extends from the target through Warintza
Central (refer to Figure 1)
Mr. Jorge Fierro, Vice President,
Exploration, commented: "With this latest discovery at Warintza
East and the growing footprint of Warintza Central to the north and
east returning some of the strongest intervals reported to date,
the conceptual pit shell is expected to be extended to the north
and east showing the potential to ultimately become one
multi-kilometre 'superpit' joining the two areas. Future drilling
will focus on the open, undrilled area between these two
zones."
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 the Yawi target
(Warintza South lies off image to south).
Figure 2 – Plan View showing Warintza East Drill Hole
Traces
Table 1 – Warintza East Results
|
Hole
ID
|
Date
Reported
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Cu
(%)
|
Mo
(%)
|
Au
(g/t)
|
CuEq¹
(%)
|
|
SLSE-02
|
September 27,
2021
|
0
|
320
|
320
|
0.39
|
0.02
|
0.04
|
0.48
|
|
Including
|
0
|
62
|
62
|
0.59
|
0.01
|
0.06
|
0.68
|
|
SLSE-01
|
0
|
1213
|
1213
|
0.21
|
0.01
|
0.03
|
0.28
|
|
Including
|
0
|
396
|
396
|
0.33
|
0.02
|
0.04
|
0.42
|
|
Notes to table: True
widths cannot be determined at this time.
|
Table 2 - Collar Location
|
Hole
ID
|
Easting
|
Northing
|
Elevation
(m)
|
Depth
(m)
|
Azimuth
(degrees)
|
Dip
(degrees)
|
|
SLSE-02
|
801485
|
9648192
|
1170
|
1191
|
275
|
-50
|
|
SLSE-01
|
801485
|
9648192
|
1170
|
1213
|
260
|
-45
|
|
Notes to table: The
coordinates are in WGS84 17S Datum.
|
|
(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.
|
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. ZTEM data quality was validated by a qualified external
professional using data validation procedures under high industry
standards. Analytical data for the surface samples collected are
from recent interpretations derived from ZTEM data and from
previous operators as detailed in the technical report entitled,
"Resource Estimate of the Warintza Central Cu-Mo Porphyry Deposit"
prepared by Equity Exploration Consultants Inc. with an effective
date of December 13, 2019, and
available on the Company's SEDAR profile and website. The drillhole
data has been verified by Donald
Taylor 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 Donald
Taylor, MSc., PG, Director of Solaris who is a "Qualified
Person" as defined in National Instrument 43-101 Standards of
Disclosure for Mineral Projects. Donald Taylor is a Registered Professional
Geologist through the SME (registered member #4029597).
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 its 60%-interest in the
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 that the first two holes at Warintza East
suggest potential continuity between Warintza East and Warintza
Central, visual observation of mineralization in the second hole of
Warintza East and step-out drilling northeast of Warintza Central
suggest an offset in the east-west corridor of higher-grade
mineralization to the north that is being targeted in ongoing
drilling, that visual observation of core from SLSE-02 suggest that
a much broader interval of mineralization may exist than the
portion for which assays have been received and reported herein;
remaining assays are expected in October, along with the results of
step-out drilling from Warintza Central, and that the conceptual
pit shell of Warintza Central is expected to be extended to the
north and east showing the potential to ultimately become one
multi-kilometre 'superpit' joining the two areas with future
drilling will focus on the open, undrilled area between these two
zones. 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,
2020 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.
