Solaris Reports 1,184m of 0.68% CuEq From Surface in Expansion of Warintza Central; Maiden Drilling Commences at El Trinche

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Beleggingsadvies 07/09/2021 15:39
September 7, 2021 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) ("Solaris" or the "Company") is pleased to report the latest assay results from ongoing resource expansion drilling at 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

Three additional holes at Warintza Central have infilled gaps within the drilling pattern and extended the envelope of high-grade mineralization to the east, with high-grade mineralization encountered in all holes starting at or near surface
SLS-27 was collared in the southwestern part of Warintza Central and drilled into a partially-open volume to the northeast, returning 462m of 0.91% CuEq¹ from near surface, including 372m of 1.02% CuEq¹ from 36m depth, infilling and extending mineralization in this area
SLS-28 was collared in the middle of Warintza Central and drilled into a partially-open volume to the northeast, returning 632m of 0.68% CuEq¹ from surface, including 316m of 1.00% CuEq¹ from 42m depth, infilling and extending mineralization in this area
SLS-29 was collared at the southeastern limit of the Warintza Central grid and drilled into an open volume to the east, returning 1,184m of 0.68% CuEq¹ from surface, including 480m of 0.80% CuEq¹ from 48m depth, extending mineralization to the east in this area
Maiden drilling has begun at El Trinche, a potential southern extension of Warintza Central, with the first hole collared approximately 500m beyond the southern limit of drilling in an area of rock sampling with values ranging from 0.3-1.1% copper at surface
To date, 40 holes have been completed at Warintza Central with assays reported for 29 of these. The assay backlog has grown due to downtime at the Project’s principal lab in Lima to install additional equipment and increase capacity, with operations having now resumed
Increased news flow is expected from September through year-end, including remaining assays from SLSE-01, which marked a new discovery at Warintza East (see press release dated July 20, 2021), with the Company adding a second rig to accelerate this important drilling
Mr. Jorge Fierro, Vice President, Exploration, commented: “Drilling at Warintza Central continues to expand the dimensions of the zone beyond its original footprint. The strike length of Central now measures over 1,250m, with ongoing drilling aiming to extend the zone further to the east, broaden the zone to the north, and test the potential for a southern extension of at least 500m at El Trinche. At the same time, we await additional assays for our recent Warintza East discovery, where we have just added a second rig to accelerate drilling.”

Figure 1 – Long Section of 3D Geophysics Looking Northeast

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 newly-discovered Yawi target (Warintza South lies off image to south).

Figure 2 – Plan View

Figure 2 – Plan View

Table 1 – Warintza Central Assay Results

Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-29 September 7, 2021 6 1190 1184 0.58 0.02 0.05 0.68
Including 48 528 480 0.69 0.03 0.04 0.80
SLS-28 6 638 632 0.51 0.04 0.06 0.68
Including 42 358 316 0.81 0.04 0.09 1.00
SLS-27 22 484 462 0.70 0.04 0.08 0.91
Including 36 408 372 0.81 0.04 0.09 1.02
SLS-26 July 7, 2021 2 1002 1000 0.51 0.02 0.04 0.60
SLS-25 62 444 382 0.62 0.03 0.08 0.77
SLS-24 10 962 952 0.53 0.02 0.04 0.62
SLS-19 6 420 414 0.21 0.01 0.06 0.31
SLS-23 May 26, 2021 10 558 548 0.31 0.02 0.06 0.42
SLS-22 86 324 238 0.52 0.03 0.06 0.68
SLS-21 2 1031 1029 0.63 0.02 0.04 0.73
SLS-20 April 19, 2021 18 706 688 0.35 0.04 0.05 0.51
SLS-18 78 875 797 0.62 0.05 0.06 0.83
SLS-17 12 506 494 0.39 0.02 0.06 0.50
SLS-16 Mar 22, 2021 20 978 958 0.63 0.03 0.06 0.77
SLS-15 2 1231 1229 0.48 0.01 0.04 0.56
SLS-14 0 922 922 0.79 0.03 0.08 0.94
SLS-13 Feb 22, 2021 6 468 462 0.80 0.04 0.09 1.00
SLS-12 22 758 736 0.59 0.03 0.07 0.74
SLS-11 6 694 688 0.39 0.04 0.05 0.57
SLS-10 2 602 600 0.83 0.02 0.12 1.00
SLS-09 122 220 98 0.60 0.02 0.04 0.71
SLS-08 Jan 14, 2021 134 588 454 0.51 0.03 0.03 0.62
SLS-07 0 1067 1067 0.49 0.02 0.04 0.60
SLS-06 Nov 23, 2020 8 892 884 0.50 0.03 0.04 0.62
SLS-05 18 936 918 0.43 0.01 0.04 0.50
SLS-04 0 1004 1004 0.59 0.03 0.05 0.71
SLS-03 Sep 28, 2020 4 1014 1010 0.59 0.02 0.10 0.71
SLS-02 0 660 660 0.79 0.03 0.10 0.97
SLS-01 Aug 10, 2020 1 568 567 0.80 0.04 0.10 1.00
Notes to table: Grades are uncut and true widths cannot be determined at this time.


Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-29 800124 9648035 1580 1190 80 -72
SLS-28 799765 9648033 1571 570 50 -75
SLS-27 799667 9648029 1499 588 45 -70
Notes to table: The coordinates are in WGS84 17S Datum.
Table 2 – Collar Locations for New Drill Holes

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

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