Solaris Extends Warintza Central to South, Southeast and Still Open; Maiden Drilling Results from Warintza South Expected in January
(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.
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Solaris Extends Warintza Central to South, Southeast and Still Open;
Maiden Drilling Results from Warintza South Expected in January
December 14, 2021 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris" or the
“Company") is pleased to report assay results from a series of additional holes from ongoing mineral
resource growth and discovery drilling programs at its Warintza Project (“Warintza” or “the Project”) in
southeastern Ecuador.
Highlights are listed below, with corresponding images in Figures 1-3 and detailed results in Tables 1-2. A
dynamic 3D model is available on the Company’s website.
Highlights
● Five additional holes reported in this press release have expanded the dimensions of Warintza
Central to the south and southeast where it remains open, with the highest-grade intervals
within each hole starting at or near surface (refer to Figures 1 & 2)
● SLS-37 was collared in the middle of the Warintza Central grid and drilled vertically into a partially
open volume near surface, returning 868m of 0.58% CuEq¹ from 28m depth; further drilling from
this platform will target northern and southern extensions of the zone
● SLS-38 was collared at the northeastern limit of the grid and drilled east into an open volume,
returning 244m of 0.70% CuEq¹ from 58m depth, within a broader interval of 822m of 0.35%
CuEq¹ that included dilution from a weakly-mineralized mafic intrusive
● SLS-39 was collared on the eastern side of the grid and drilled into a partially open volume to the
southeast, returning 915m of 0.56% CuEq¹, including 368m of 0.73% CuEq¹ from 90m depth, with
the last 10m of the hole grading 0.61% CuEq¹ suggesting further potential to the southeast
● SLS-40 was collared at the southeastern limit of the grid and drilled into a partially open volume
to the southeast, returning 1,048m of 0.46% CuEq¹ from surface, including 382m of 0.64% CuEq¹
from 50m depth, extending mineralization to the southeast where it remains open
● SLS-41 was collared in the middle of the Warintza Central grid and drilled into an open volume to
the southeast, returning 592m of 0.52% CuEq¹ from surface, including 496m of 0.58% CuEq¹,
extending mineralization to the south where it remains open
● To date, 55 holes have been completed at Warintza Central with assays reported for 41 of these
● Maiden drilling results are expected in January from Warintza South, a target defined by a high
conductivity anomaly measuring 2.5km x 2.0km x 0.7km and overlapping copper and
molybdenum anomalies where exposed at surface
(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.
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Mr. Jorge Fierro, Vice President, Exploration, commented: “These latest results continue to expand the
dimensions of Warintza Central to the south and southeast where it remains open. Our next series of
holes will target extensions to the north and northeast. In January, we are looking forward to the results
of the first-ever drilling at Warintza South, where we are targeting the fourth major discovery within the
7km x 5km cluster of copper porphyries on this property.”
Figure 1 – Long Section of Warintza Central Drilling Looking Southeast
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Figure 2 – Plan View of Warintza Drilling Released to Date
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Figure 3 – Long Section of 3D Geophysics Looking Southwest
(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.
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Table 1 – Assay Results
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-41
Dec 14, 2021
0 592 592 0.42 0.02 0.06 0.52
Including 8 504 496 0.48 0.02 0.06 0.58
SLS-40 8 1056 1048 0.39 0.01 0.03 0.46
Including 50 432 382 0.56 0.02 0.04 0.64
SLS-39 28 943 915 0.49 0.01 0.04 0.56
Including 90 458 368 0.65 0.02 0.04 0.73
SLS-38 58 880 822 0.28 0.01 0.05 0.35
Including 58 302 244 0.58 0.02 0.06 0.70
SLS-37 28 896 868 0.39 0.05 0.05 0.58
SLS-36
Nov 15, 2021
2 1082 1080 0.33 0.01 0.04 0.41
SLS-35 48 968 920 0.53 0.02 0.04 0.62
SLS-34
Oct 25, 2021
52 712 660 0.36 0.02 0.06 0.47
SLS-33 40 762 722 0.55 0.03 0.05 0.69
SLSE-02 0 1160 1160 0.20 0.01 0.04 0.25
SLS-32
Oct 12, 2021
0 618 618 0.38 0.02 0.05 0.48
SLS-31 8 1008 1000 0.68 0.02 0.07 0.81
SLS-30 2 374 372 0.57 0.06 0.06 0.82
SLSE-01 Sep 27, 2021 0 1213 1213 0.21 0.01 0.03 0.28
SLS-29
Sep 7, 2021
6 1190 1184 0.58 0.02 0.05 0.68
SLS-28 6 638 632 0.51 0.04 0.06 0.68
SLS-27 22 484 462 0.70 0.04 0.08 0.91
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
(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.
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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
SLSW-01 Feb 16, 2021 32 830 798 0.25 0.02 0.02 0.31
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: True widths cannot be determined at this time.
(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.
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Table 2 - Collar Location
Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-41 799765 9648033 1571 792 115 -70
SLS-40 800124 9648044 1568 1056 105 -75
SLS-39 800253 9648105 1576 943 145 -80
SLS-38 800383 9648303 1412 923 90 -56
SLS-37 799968 9648102 1510 929 0 -90
Notes to table: The coordinates are in WGS84 17S Datum.
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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.