Solaris Reports 124m of 0.82% CuEq within Broader Interval, Expanding Northeast Extension of ‘Indicative Starter Pit’
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Solaris Reports 124m of 0.82% CuEq within Broader Interval,
Expanding Northeast Extension of ‘Indicative Starter Pit’
September 7, 2022 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or “the
Company”) is pleased to report assay results from a series of holes aimed at growing the Northeast
Extension of the ‘Indicative Starter Pit’ at its Warintza Project (“Warintza” or “the Project”) in
southeastern Ecuador. Highlights are listed below, with a corresponding image in Figure 1 and detailed
results in Tables 1-2.
Highlights
Additional drilling has expanded the Northeast Extension of the ‘Indicative Starter Pit’ recently estimated
at 180 Mt at 0.82% CuEq¹ (Indicated) and 107 Mt at 0.73% CuEq1 (Inferred) within the Warintza Mineral
Resource Estimate² (“MRE”). This zone is characterized by near surface, high-grade mineralization and
remains open for further growth with follow-up drilling underway.
SLS-66 was collared on a platform at the northeastern limit of the Warintza Central grid and drilled
southwest into an open volume, returning 124m of 0.82% CuEq¹ within a broader interval of
622m of 0.42% CuEq¹ starting from surface
SLS-66 follows from previous holes SLS-63 and SLS-54, which were drilled from the same pad to
the north and southeast and respectively returned high-grade intervals of 230m of 1.02% CuEq¹
and 356m of 0.73% CuEq³ within broader intervals (refer to press releases dated Jul 20, 2022 and
Apr 4, 2022 for details)
SLS-64 was collared on a platform at the northern limit of Warintza Central and drilled north-
northeast into an open volume, returning 110m of 0.54% CuEq¹ from near surface within a
broader interval of 440m of 0.48% CuEq¹, extending and broadening the zone to the north in
this area
SLS-64 follows from previous holes SLS-62 and SLS-48, which were drilled from the same pad to
the northeast and south and respectively returned high-grade intervals of 168m of 0.68% CuEq¹
and 100m of 1.64% CuEq³ within broader intervals (refer to press releases dated Jul 20, 2022 and
Feb 28, 2022 for details)
SLS-65, which is a step out hole from a new platform 200m to the north, has now been completed
after operational delays with adjustments to the platform for drilling and assays are expected
within the next four weeks
Mr. Jorge Fierro, Vice President, Exploration, commented: “Drilling from existing and recently-
completed platforms in the Northeast Extension zone is a key driver in the expansion of the ‘Indicative
Starter Pit’, and we look forward to reporting the next set of results in the near future as the backlog
of assays pending is now resolved.”
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Figure 1 – Plan View of Warintza Central Drilling Released to Date
Table 1 – Assay Results
Notes to table: True widths of the mineralized zone are not known at this time.
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-66
Sep 07, 2022
0 622 622 0.32 0.02 0.05 0.42
Including 66 190 124 0.71 0.02 0.09 0.82
SLS-64 78 518 440 0.32 0.04 0.04 0.48
Including 78 188 110 0.38 0.04 0.03 0.54
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Table 2 - Collar Location
Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-66 800383 9648303 1412 689 255 -48
SLS-64 800178 9648285 1439 571 26 -66
Notes to table: The coordinates are in WGS84 17S Datum.
Endnotes
1. Copper-equivalence calculated as: CuEq (%) = Cu (%) + 4.0476 × Mo (%) + 0.487 × Au (g/t), utilizing
metal prices of US$3.50/lb Cu, US$15.00/lb Mo, and US$1,500/oz Au, and assumes recoveries of 90%
Cu, 85% Mo, and 70% Au based on preliminary metallurgical test work.
2. Refer to Solaris’ technical report titled, “NI 43-101 Technical Report for the Warintza Project, Ecuador”
with an effective date of April 1, 2022, prepared by Mario E. Rossi and filed on the Company’s SEDAR
profile at www.sedar.com.
3. Copper-equivalence calculated as: CuEq (%) = Cu (%) + 3.33 × Mo (%) + 0.73 × Au (g/t), utilizing metal
prices of US$3.00/lb Cu, US$10.00/lb Mo, and US$1,500/oz Au. No adjustments were made for
recovery prior to the updated Warintza Mineral Resource Estimate, as the metallurgical data to allow
for estimation of recoveries was not yet available. Solaris defined CuEq for reporting purposes only.
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. 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
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For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: 416-366-5678 Ext. 203
Email: [email protected]
About Solaris Resources Inc.
Solaris is a multi-asset exploration company, advancing a portfolio of copper and gold assets in the
Americas, which includes: its primary focus, a world class large-scale resource with expansion and
discovery potential at the Warintza Project in Ecuador; discovery potential at its Ricardo Project and
optioned and owned grass-roots Tamarugo Project in Chile; discovery potential at its Capricho and Paco
Orco projects in Peru; and significant leverage to increasing copper prices through its 60% interest in the
La Verde joint-venture project with a subsidiary of 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 “will” and
“expected” and similar expressions are intended to identify forward-looking statements. These statements include
statements that additional drilling has expanded the Northeast Extension of the ‘Indicative Starter Pit’ recently
estimated at 180 Mt at 0.82% CuEq (Indicated) and 107 Mt at 0.73% CuEq (Inferred) within the Warintza Mineral
Resource Estimate, SLS-64 extended and broadened the zone to the north, SLS-65, which is a step out hole from a
new platform 200m to the north, has now been completed after operational delays with adjustments to the platform
for drilling and assays are expected within the next four weeks, and drilling from existing and recently-completed
platforms in the Northeast Extension zone is a key driver in the expansion of the ‘Indicative Starter Pit’, and the
Company looks forward to reporting the next set of results in the near future as the backlog of assays pending is now
resolved. 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, 2021 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.