Solaris Reports: 1,010m of 0.71% CuEq and 660m of 0.97% CuEq From Surface, Major Expansion of Warintza Central
(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.
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
Solaris Reports: 1,010m of 0.71% CuEq and 660m of 0.97% CuEq From Surface,
Major Expansion of Warintza Central
September 28, 2020 – Vancouver, B.C. – Solaris Resources Inc. (TSXV: SLS) ("Solaris" or the "Company")
is pleased to report assay results for the second and third drill holes from the ongoing 40,000 metre (m)
diamond drill program at its Warintza Project (“Warintza” or “the Project”) in south-eastern Ecuador. The
drill program aims to expand the lateral footprint and depth extent of the high-grade Warintza Central
zone, discovered by the late David Lowell in 2000.
Highlights from the recent drilling are listed below and summarized in Table 1 and 2.
Highlights
SLS-02 returned a consistent, high grade interval from surface of 660m of 0.97% CuEq¹ (0.79% Cu,
0.03% Mo, and 0.1 g/t Au), confirming the significant extension of mineralization relative to
historical drilling first reported in SLS-01 (see August 10, 2020 Press Release)
SLS-03 returned a much longer and open interval of high-grade mineralization from surface to the
depth capacity of the drill rig: 1,010m of 0.71% CuEq¹ (0.59% Cu, 0.02% Mo, and 0.1 g/t Au) ,
including 716m of 0.75% CuEq¹ (0.63% Cu, 0.02% Mo, and 0.1 g/t Au)
SLS-03 was collared approximately 426m east of the first two holes and greatly improves upon
the depth extent of known mineralization, with historical drilling averaging less than 200m in
depth (see Images 1 & 2)
Geological interpretation suggests that the mineralization encountered to date is representative
of the ‘outer halo’ of the porphyry system, with the higher-grade core to be vectored toward
with future drilling locations
The first three holes were drilled with one rig; drilling is now ongoing with two rigs and a third rig
with greater drilling capacity is due imminently
Mr. Jorge Fierro, Vice President, Exploration, commented, “The third hole stepped out over 400m to the
east of the first drilling location within Warintza Central (see Image 3) and provided further evidence of
the depth extent of the system, which still remains open. In addition, the results continue to support our
interpretation that our drilling is confined to the ‘outer halo’ of the porphyry system. Additional drilling
locations will be required to triangulate the high-grade core.”
Mr. Richard Warke, Executive Chairman, commented, “Warintza Central continues to demonstrate the
potential to become a large, high-grade open pit copper porphyry deposit, which is a rarity in the modern
context of the industry. As strong as results are, what’s extremely exciting is that we are at a very early
stage of exploration on the property and drilling has only occurred at Warintza Central. The trend is 5km
long and includes Warintza East, West and South, all of which are approximately of equal footprint and
West and South have yielded higher soil and chip samples.”
(2) The Warintza Mineral Resource estimate was reported in the “Resource Estimate Of The Warintza Central Cu-Mo Porphyry Deposit" prepared
by Equity Exploration Consultants Ltd. with an effective date of December 13, 2019. The Warintza Central Mineral Resource statement has been
prepared by Trevor Rabb, PGeo who is a qualified person as defined by NI 43-101. The resource is reported using a cut-off of 0.2% copper. 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. Mineral Resources are not Mineral Reserves and do
not have demonstrated economic viability.
(3) 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.
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
Warintza Central is presently defined by a pit-optimized Mineral Resource estimate of 124 Million tonnes
of Inferred Resources grading 0.70% CuEq² (0.56% Cu, 0.03% Mo and 0.1 g/t Au), based on historic drilling
totaling less than 7,000m and averaging less than 200m in depth. The resource is entirely open laterally
and at depth and is set within the 5 km-long Warintza trend of porphyry mineralization. There has been
no drilling outside of the Warintza Central area.
Table 1
Drill Hole From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq³ (%)
SLS-02 0 660 660 0.79 0.03 0.1 0.97
Including 48 656 608 0.83 0.03 0.1 1.01
SLS-03 4 1014 1010 0.59 0.02 0.1 0.71
Including 4 892 888 0.61 0.02 0.1 0.73
Including 176 892 716 0.63 0.02 0.1 0.75
Grades are uncut and true widths have not been determined.
Table 2
Drill Hole Datum Easting Northing Elevation
(m)
Depth
(m)
Azimuth
(degrees)
Dip
(degrees)
SLS-02 WGS84 17S 799765 9648033 1571 744 0 -90
SLS-03 WGS84 17S 800191 9648059 1570 1090 289 -79
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
Image 1
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
Image 2
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
Image 3
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
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
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.
Qualified Person
The technical content of this release has been compiled, 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. All technical information related to Warintza is based
on the “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
website.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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 the
60%-interest in the development-stage 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 “intention”, “will”,
“may”, “can”, “expect” and similar expressions are intended to identify forward-looking statements. Although Solaris
believes that the expectations reflected in such forward-looking statements and/or information are reasonable,
undue reliance should not be placed on forward-looking statements since Solaris can give no assurance that such
expectations will prove to be correct. These statements 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 latest Solaris Management’s
Discussion and Analysis 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 obligations to publicly
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
update and/or revise any of the included forward-looking statements, whether as a result of additional information,
future events and/or otherwise, except as may be required by applicable securities laws.