Solaris Reports 148m of 0.72% CuEq within 325m of 0.51% CuEq from Surface; Updated Mineral Resource Estimate Expected This Month
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
Solaris Reports 148m of 0.72% CuEq within 325m of 0.51% CuEq from Surface;
Updated Mineral Resource Estimate Expected This Month
July 09, 2024 – Vancouver, B.C. – Solaris Resources Inc . (TSX: SLS; NYSE: SLSR) (“Solaris” or the
“Company”) is pleased to report drill results from the ongoing 2024 drilling program at its Warintza Project
(“Warintza” or “the Project”) in southeastern Ecuador. These include the final assays for inclusion in the
updated mineral resource estimate which is expected to be released this month. Highlights are listed
below with a corresponding image in Figure 1 and results in Tables 1-2.
Highlights
SLSE-36 was collared at the southeasternmost platform at Warintza Southeast and returned
148m of 0.72% CuEq¹ within a broader interval of 325m of 0.51% CuEq¹ from surface and
remains open in strong mineralization, with the final 34m averaging 0.90% CuEq¹
SLS-77 was collared on the northern boundary of the Northeast Extension of Warintza Central and
returned 108m of 0.70% CuEq¹ from near surface within a broader interval of 273m of 0.57%
CuEq¹ from surface
SLS-78 was collared from a new platform 100m to the west and drilled west through leached cap
before returning 78m of 0.70% CuEq¹ within a broader interval of 114m of 0.65% CuEq¹ from
72m depth and then entering low grade granodiorite
SLS-79 was collared from the same platform and drilled west at steep inclination, returning 78m
of 0.60% CuEq¹ from near surface within a broader interval of 248m of 0.50% CuEq¹, ending in
strong mineralization
● SLST-03 was collared approximately 300m south of Warintza Central at the Trinche platform and
drilled northwest into an open volume to convert undefined waste within the expected pit shell,
returning 312m of 0.62% CuEq¹ within a broader interval of 1,028m of 0.30% CuEq¹ from surface
● Patrimonio hole 04 consistent with 01 and 02 intersected an approximately 150m thick tabular
zone of replacement mineralization dipping shallowly to the west for which the source has not
yet been encountered. SLSP-03 was collared at higher elevation and intersected a low grade layer
in the host lava sequence before passing into a barren, post-mineral porphyry that intruded and
displaced the targeted mineralized layer. Mineral alteration zoning and geochemistry suggests
that the core of the mineralized system lies to the south
● 2024 drill program was recently expanded to 60,000m comprising 140 holes from 80 platforms
providing significantly improved drilling coverage with 27,000m in 74 holes completed to the
end of June, with seven rigs targeting >8km of drilling in July due to improved site logistics from
infrastructure development at site
● Ongoing drilling is focused on Patrimonio exploration, resource extension at Warintza Southeast,
and infill and technical drilling to support the PFS in H2/25, including geotechnical holes which are
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
expected to fulfill a dual role in providing information to aid in the understanding of the geology
of the Caya-Mateo epithermal gold and silver target area
Figure 1 – Plan View of Drilling to Date
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
Table 1 – Assay Results
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq¹ (%)
SLS-79
July 09, 2024
15 263 248 0.41 0.02 0.05 0.50
Including 54 132 78 0.52 0.01 0.05 0.60
SLS-78 72 186 114 0.54 0.02 0.07 0.65
Including 93 171 78 0.58 0.02 0.08 0.70
SLS-77 0 273 273 0.43 0.02 0.10 0.57
Including 21 129 108 0.56 0.02 0.10 0.70
SLSE-36 0 325 325 0.40 0.02 0.05 0.51
Including 177 325 148 0.58 0.03 0.07 0.72
Including 291 325 34 0.76 0.03 0.08 0.90
SLSP-04 30 204 174 0.25 0.02 0.06 0.35
Including 104 152 48 0.30 0.02 0.08 0.43
SLSP-03 0 310 310 0.10 0.01 0.04 0.14
SLST-03 16 1044 1028 0.24 0.01 0.03 0.30
Including 646 958 312 0.51 0.02 0.06 0.62
Notes to table: True widths are interpreted to be very close to drilled widths due to the bulk-porphyry
style mineralized zones at Warintza.
Table 2 - Collar Locations
Hole ID Easting Northing Elevation
(m)
Depth
(m)
Azimuth
(degrees)
Dip
(degrees)
SLS-79 800197 9648470 1340 263 270 -88
SLS-78 800197 9648469 1340 220 270 -65
SLS-77 800439 9648493 1271 324 320 -85
SLSE-36 801529 9647848 1154 325 220 -85
SLSP-04 799364 9647811 1526 309 145 -60
SLSP-03 799349 9647450 1627 310 40 -65
SLST-03 800192 9647550 1592 1123 330 -50
Notes to table: The coordinates are in WGS84 17S Datum.
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
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.
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
on site. 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. Details on the surface sampling conducted at the Project are set out in the technical
report titled, “NI 43-101 Technical Report for the Warintza Project, Ecuador (Amended)” with an effective
date of April 1, 2022, prepared by Mario E. Rossi 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 world class
copper resource with expansion and discovery potential at its Warintza Project in Ecuador; a series of
grass roots exploration projects with discovery potential in Peru and Chile; and significant leverage to
Suite 555 - 999 Canada Pl., Vancouver, BC Canada V6C 3E1
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 these drill results include the final assays for inclusion in the updated mineral resource estimate
which is expected to be released this month, SLST-03 was collared approximately 300m south of Warintza Central at
the Trinche platform and drilled northwest into an open volume to convert undefined waste within the expected pit
shell, SLSP-03 was collared at higher elevation and intersected a low grade layer in the host lava sequence before
passing into a barren, post-mineral porphyry that intruded and displaced the targeted mineralized layer, Mineral
alteration zoning and geochemistry suggests that the core of the mineralized system lies to the south, 2024 drill
program was recently expanded providing significantly improved drilling coverage, with seven rigs targeting >8km
of drilling in July due to improved site logistics from infrastructure development at site, ongoing drilling is focused on
Patrimonio exploration, resource extension at Warintza Southeast, and infill and technical drilling to support the PFS
in H2/25, including geotechnical holes which are expected to fulfill a dual role in providing information to aid in the
understanding of the geology of the Caya-Mateo epithermal gold and silver target area . 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. The Company has based these forward-
looking statements and information on the Company’s current expectations and assumptions about future events
including assumptions regarding the exploration and regional programs. 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, 2023 available at
www.sedarplus.ca. 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.