VANCOUVER, BC, Nov. 1, 2021 /PRNewswire/ - Solaris Resources
Inc. (TSX: SLS) (OTCQB: SLSSF) ("Solaris" or the "Company") is
pleased to announce the commencement of maiden drilling at Warintza
South. In addition, updated results from detailed geophysical
interpretation and geochemical sampling have refined and expanded
the dimensions of key targets at its Warintza Project ("Warintza"
or "the Project") in southeastern Ecuador.
Highlights and corresponding Figures 1-3 are provided below. A
dynamic 3D model featuring the updated geophysical and geochemical
anomalies is available on the Company's website.
Highlights
- Commenced maiden drilling at the Warintza South target, with
the first hole collared ~3km south of Warintza Central (refer to
Figures 1-3)
- The Warintza South high conductivity anomaly has dimensions
more than twice the size of Warintza Central, and a similar
geochemical signature where exposed at surface
- Updated interpretation has expanded the dimensions of the
Warintza South high conductivity anomaly to ~2.5km x 2.0km x 0.7km
and those of Warintza East and Yawi
- Additional geochemical sampling has also expanded the Warintza
East anomaly further to the east and northeast where it now
overlaps with Yawi
- Sampling continues to extend geochemical coverage over the
sparsely sampled areas to the west and south of Warintza Central,
and to targets beyond the Warintza porphyry cluster
Mr. Daniel Earle, President and
CEO, commented: "We are very excited to commence the first-ever
drilling program at our voluminous Warintza South target, with the
goal of making the fourth major discovery within our Warintza
Project as we redirect our 12-rig drilling fleet toward aggressive
step-out growth and discovery-oriented drilling over the balance of
the year and into 2022."
Geophysical Reinterpretation
The Company retained Condor Consulting, Inc. ("Condor"),
recognized experts in the field of airborne electromagnetics (EM),
to perform detailed modelling and interpretation of the previously
completed advanced airborne ZTEM survey (refer to press release
dated February 16, 2021 for survey
results) covering the entire 268km² Warintza and surrounding area
land package.
Condor carried out a full 3D inversion of the EM and magnetic
results using commercial and proprietary software producing
enhanced images based on a greatly expanded dataset, including a
considerable amount of additional drilling since the prior
interpretation, and detailed geology, weathering and density models
for the Project.
In general, the refined high conductivity volumes capture
mineralization closer to surface and correlate more closely to
networked sulfide mineralization in stockwork veining, with the
anomalies now starting at surface and better reflecting the
vertical zonation of the Warintza porphyries from higher density
stockwork veining to lower density veining and disseminated
mineralization.
Warintza South
Warintza South is defined by a voluminous high-conductivity
anomaly located ~3km to the south of Warintza Central. The anomaly
starts at surface and measures ~2.5km x 2.0km x 0.7km deep, with
overlapping copper and molybdenum geochemical anomalies covering
the exposed portion at surface.
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.
In addition, selected pulp check samples are sent to Bureau Veritas
lab in Lima, Peru. Both ALS Labs
and Bureau Veritas lab are independent of Solaris. 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, and the Company therefore did not deem it
necessary to have such ZTEM data verified by a Qualified Person.
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
Jorge Fierro, M.Sc., DIC, PG, 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 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. Jorge Fierro is
a Registered Professional Geologist through the SME (registered
member #4279075).
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 regarding our
intent, or the beliefs or current expectations of our officers and
directors, including statements that the Company has a goal of
making the fourth major discovery within the Warintza Project as
Solaris redirects its 12-rig drilling fleet toward aggressive
step-out growth and discovery-oriented drilling over the balance of
the year and into 2022. 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.
