Solaris Commences Maiden Drilling at Warintza South; Updated Geophysics and Geochemistry Expand Warintza Porphyry Cluster
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Solaris Commences Maiden Drilling at Warintza South;
Updated Geophysics and Geochemistry Expand Warintza Porphyry Cluster
November 01, 2021 – Vancouver, B.C. – 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.
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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.
Figure 1 - Plan View of 7km x 5km Warintza Porphyry Cluster
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Figure 2 – Long Section of Warintza South 3D Geophysics Looking Northeast
Figure 3 – Long Section of Warintza Porphyry Cluster 3D Geophysics Looking Southwest
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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
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: [email protected]
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.
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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.