Solaris Resources (TSX:SLS) Makes Discovery at Warintza West Outlining Broad Porphyry Deposit of at least 900m x 600m

Solaris Resources (TSX:SLS) has reported new assay results today from the first series of drill holes during follow-up drilling on the discovery of Warintza West. The results outline a new deposit that remains open in the Warintza cluster, just adjacent to the Mineral Resource Estimate (MRE) the company published in April 2022.

These follow-up holes fan out in all directions, outlining a broad porphyry deposit of at least 900m x 600m and still open and lies adjacent to and not included within the MRE. The company is focusing on targeting growth for the high-grade starter pit at Warintza Central and expanding the Warintza East discovery next while continuing the planned drilling at Warintza West. The Warintza Project is located in southeastern Ecuador, and Warintza West is the fourth and latest discovery at the project. 

Highlights from the results are as follows:

Warintza West is one of four discoveries made to date within the Warintza porphyry cluster and is located 1km west of the Warintza Central Mineral Resource Estimate (“MRE”)¹ reported in April. The discovery was reported with the results of SLSW-01 (see press release dated February 16, 2021) – these follow-up holes fan out in all directions, outlining a broad porphyry deposit of at least 900m x 600m and still open and lies adjacent to and not included within the MRE. Follow-up drilling to test the further extent of the deposit is planned after priority drilling at Warintza Central aimed at expanding the starter pit and higher-grade resource expansion potential at Warintza East.

• SLSW-07 (drilled north) returned 686m of 0.46% CuEq¹ within a broader interval of 912m of 0.41% CuEq¹ from near surface

• SLSW-02 (drilled vertically) returned 246m of 0.47% CuEq¹ from near surface

• SLSW-09 (drilled west) returned 202m of 0.45% CuEq¹ within a broader interval of 444m of 0.36% CuEq¹ from near surface

• SLSW-08 (drilled northwest) returned 78m of 0.56% CuEq¹ within a broader interval of 812m of 0.32% CuEq¹ from near surface

• SLSW-04 (drilled northeast) returned 264m of 0.44% CuEq¹ from near surface

• SLSW-10 (drilled southwest) returned 220m of 0.41% CuEq¹ from near surface

• SLSW-03 (drilled southeast) returned 102m of 0.39% CuEq¹ within a broader interval of 911m of 0.24% CuEq¹ from near surface

• SLSW-05 (drilled northeast) returned 272m of 0.38% CuEq¹ within a broader interval of 570m of 0.30% CuEq¹ from near surface

• SLSW-06 (drilled east) returned 732m of 0.32% CuEq¹ from near surface

• Drilling at Warintza West confirms the interpretation of a broad porphyry deposit that remains open in all directions, with assays pending from a series of three additional holes testing the zone further to the west, east and south

• Step-out drilling is planned targeting high-grade surface sampling

Figure 1 – Plan View of Warintza West Drilling Released to Date

Table 1 – Assay Results

Notes to table: True widths of the mineralized zone are not known at this time.

Table 2 – Collar Location

Endnotes

1. Refer to Solaris’ press release dated April 18, 2022 and technical report titled, “NI 43-101 Technical Report for the Warintza Project, Ecuador” with an effective date of April 1, 2022, prepared by Mario E. Rossi and filed on the Company’s SEDAR profile at www.sedar.com.
2. 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.

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