Solaris Reports 186m of 0.64% CuEq From Near Surface, Continues to Expand ‘Indicative Starter Pit’ at Warintza Central
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Solaris Reports 186m of 0.64% CuEq From Near Surface,
Continues to Expand ‘Indicative Starter Pit’ at Warintza Central
March 13, 2023 – 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
Resource expansion drilling continues to grow the Northeast Extension of the ‘Indicative Starter Pit’, an
area of near surface, high-grade mineralization estimated at 180 Mt at 0.82% CuEq¹ (Indicated) and 107
Mt at 0.73% CuEq¹ (Inferred) within the Warintza Mineral Resource Estimate² (“MRE”) based on drilling
to the end of 2021. Assays are pending from follow-up step-out drilling, with additional platforms
planned for construction.
SLS-70 was collared at the northeastern limit of Warintza Central and drilled northeast into an
open volume, returning 186m of 0.64% CuEq¹ from near surface within a broader interval of
264m of 0.55% CuEq¹, expanding the zone to the north where it remains open
This hole follows from SLS-65, drilled approximately 90 degrees to the northwest from the same
platform, which returned 286m of 0.55% CuEq¹ from near surface (refer to press release dated
December 5, 2022)
SLS-69, collared from the same platform and drilled the opposite direction to the southwest,
returned 156m of 0.60% CuEq¹ from 52m depth within a broader interval of 846m of 0.30%
CuEq¹, connecting the Northeast Extension to Warintza Central
Prior hole SLS-66, drilled west-southwest, returned 124m of 0.82% CuEq¹ from near surface within
a broader interval of 622m of 0.42% CuEq¹ (refer to press release dated September 7, 2022) from
a platform to the south where a follow-up southwest-oriented hole is planned to better connect
the Northeast Extension to Warintza Central
Assays are pending from two newly constructed 250m step-out platforms testing the zone
further to the northeast, with additional platforms planned for construction as the weather
improves
Mr. Jorge Fierro, Vice President, Exploration, commented: “The Northeast Extension represents a
significant area of focus for growing the ‘Indicative Starter Pit’, one of the two key goals for the follow-on
drilling program from the 2022 MRE, with the other being major resource growth at Warintza East, where
extensional and step-out holes are due shortly. In addition, a major program of reconnaissance sampling
that commenced last summer has identified new areas of well mineralized outcrop in previously
inaccessible terrain adjacent to the Warintza Central and Warintza East deposits that present
opportunities for additional discoveries, with further details to be released shortly.”
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Figure 1 – Plan View of Warintza Central Drilling Released to Date³
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-70
Mar 13, 2023
26 290 264 0.38 0.03 0.11 0.55
Including 104 290 186 0.48 0.03 0.11 0.64
Including 104 198 94 0.53 0.03 0.11 0.70
SLS-69 52 898 846 0.20 0.02 0.03 0.30
Including 52 208 156 0.48 0.02 0.08 0.60
Including 52 122 70 0.56 0.03 0.06 0.70
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Table 2 - Collar Location
Hole ID Easting Northing Elevation (m) Depth (m) Azimuth (degrees) Dip (degrees)
SLS-70 800350 9648417 1356 291 20 -65
SLS-69 800350 9648417 1356 944 200 -70
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. The ‘Indicative Starter Pit’ is
based on the same assumptions as the MRE except utilized metal prices of US$1.00/lb Cu, US$7.50/lb
Mo, and US$750/oz Au. The ‘Indicative Starter Pit’ is comprised of Indicated mineral resources of 180
Mt at 0.82% CuEq (0.67% Cu, 0.03% Mo, 0.07 g/t Au) and Inferred mineral resources of 107 Mt at
0.73% CuEq (0.64% Cu, 0.02% Mo, 0.05 g/t Au) above a 0.6% CuEq cut-off grade. No economic analysis
has been completed by the Company and there is no guarantee an ‘Indicative Starter Pit’ will be
realized or prove to be economic.
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. For additional details on “Near Surface, High-Grade, NE Extension” intervals, refer to press release
dated May 26, 2022 for SLS-57: 230m of 0.73% CuEq (0.59% Cu, 0.03% Mo, 0.08 g/t Au), refer to press
release dated July 20, 2022 for SLS-62: 168m of 0.68% CuEq (0.51% Cu, 0.03% Mo, 0.07 g/t Au) and
SLS-63: 230m of 1.02% CuEq (0.87% Cu, 0.02% Mo, 0.12 g/t Au), refer to press release dated
September 7, 2022 for SLS-64: 110m of 0.54% CuEq (0.38% Cu, 0.04% Mo, 0.03 g/t Au) and SLS-66:
124m of 0.82% CuEq (0.71% Cu, 0.02% Mo, 0.09 g/t Au), refer to press release dated December 5,
2022 for SLS-65: 286m of 0.55% CuEq (0.38% Cu, 0.04% Mo, 0.06 g/t Au) and SLS-68: 72m of 1.00%
CuEq (0.88% Cu, 0.02% Mo, 0.06 g/t Au).
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.
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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 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
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 resource expansion drilling continues to grow the Northeast Extension of the ‘Indicative Starter Pit’
within the MRE, assays are pending from follow-up step-out drilling, with additional platforms planned for
construction, a follow-up southwest-oriented hole is planned to better connect the Northeast Extension to Warintza
Central, assays are pending from two newly constructed 250m step-out platforms testing the zone further to the
northeast, with additional platforms planned for construction as the weather improves, that the Northeast Extension
represents a significant area of focus for growing the ‘Indicative Starter Pit’, one of the two key goals for the follow-
on drilling program from the 2022 MRE, with the other being major resource growth at Warintza East, where
extensional and step-out holes are due shortly, and finally, that a major program of reconnaissance sampling that
commenced last summer has identified new areas of well mineralized outcrop in previously inaccessible terrain
adjacent to the Warintza Central and Warintza East deposits that present opportunities for additional discoveries,
with further details to be released shortly. 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.
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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.