Solaris Reports 1,067m of 0.60% CuEq From Surface, Expands Limits of Warintza Central to the North, Northeast
(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 Reports 1,067m of 0.60% CuEq From Surface,
Expands Limits of Warintza Central to the North, Northeast
January 14, 2021 – Vancouver, B.C. – Solaris Resources Inc . (TSXV: SLS) ("Solaris" or the "Company") is
pleased to report assay results from two additional holes from the ongoing diamond drill program at its
Warintza Project (“Warintza” or “the Project”) in south-eastern Ecuador.
Highlights from recent drilling are listed below and summarized results are shown in Tables 1 and 2.
Highlights
Two additional holes, as detailed below, have returned long intervals of high-grade
mineralization, well beyond the 200m average depth-extent of historical drilling informing the
Warintza Central resource, and extended mineralization to the north and northeast (refer to
Images 1-2)
SLS-07 was collared from the same platform as SLS-03 (drilled to the west) and SLS-04 (vertical)
but drilled to the northeast, returning 1,067m of 0.60% CuEq¹ (0.49% Cu, 0.02% Mo, and 0.04
g/t Au), including 700m of 0.70% CuEq¹ (0.58% Cu, 0.03% Mo, and 0.04 g/t Au) from surface ,
bottoming in mineralization far beyond the 150m depth of the corresponding historical hole
SLS-08 stepped out approximately 100m further to the northeast of hole SLS-07 and was drilled
to the north, returning 454m of 0.62% CuEq¹ (0.51% Cu, 0.03% Mo, and 0.03 g/t Au), including
140m of 1.05% CuEq¹ (0.90% Cu, 0.03% Mo, and 0.05 g/t Au), further extending mineralization in
this direction
To date, 14,500 metres have been drilled at Warintza Central in 16 holes, with results reported
for the first eight holes. Drilling is ongoing with five rigs at Warintza Central and one rig at
Warintza West
Mr. Jorge Fierro, Vice President, Exploration, commented: “Our drilling continues to demonstrate major
extensions of mineralization to depth at Warintza Central with these latest results extending our drilling
footprint to the north and northeast. The pace of drilling has now ramped up aggressively with six rigs
operating, which will lead to a commensurate increase in the pace of results being reported as assays are
returned from the lab.”
(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.
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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 open laterally and at
depth and is one of five main targets set within the 5km x 5km cluster of copper porphyries identified on
the Warintza property, all of which show a similar surface expression to Warintza Central.
Table 1 – Assay Results from Warintza Central
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq³ (%)
SLS-08
Jan 14, 2021
134 588 454 0.51 0.03 0.03 0.62
Including 134 274 140 0.90 0.03 0.05 1.05
SLS-07 0 1067 1067 0.49 0.02 0.04 0.60
Including 2 702 700 0.58 0.03 0.04 0.70
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
Sept 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 have not been determined.
Table 2 – Collar Locations for New Drill Holes
Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-08 800253 9648105 1576 824 14 -80
SLS-07 800191 9648065 1580 1067 52 -80
Notes to table: The coordinates are in WGS84 17S Datum.
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Image 1 – Plan View
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Image 2 – 3D View – Looking Southeast
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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. 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 . Mr. Fiero has verified the data disclosed, including
sampling, analytical, and test data underlying the information contained in this news release. The data
was verified using data validation and quality assurance under high industry standards. All technical
information relating to the current mineral resource estimate at 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.
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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 “may”, “expect”
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 pace of drilling will lead to a commensurate increase in the pace of results being reported as assays are returned
from the lab. 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 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 advance its projects and 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 latest Solaris Management’s Discussion and
Analysis and Annual Information Form 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.