Solaris Reports First Drill Hole Intersection: 567m of 1.0% CuEq From Surface, Expands 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.
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Solaris Reports First Drill Hole Intersection: 567m of 1.0% CuEq From Surface,
Expands Warintza Central
August 10, 2020 – Vancouver, B.C. – Solaris Resources Inc . (TSXV: SLS) ("Solaris" or the "Company") is
pleased to report assay results for the first hole from the ongoing 40,000 metre (m) diamond drill program
at its Warintza Project (“Warintza” or “the Project”) in south-eastern Ecuador. This is the first drill program
made possible in nearly 20 years at Warintza and 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
The first hole, SLS-01, returned a consistent, high grade interval starting from surface of
567m of 0.80% Cu, 0.04% Mo, and 0.1 g/t Au (1.00% CuEq) (1) and terminated in a barren dyke
(true width cannot be determined with the data and information currently available)
SLS-01 greatly extends mineralization to depth and improves upon the grade of Warintza
Central in which historical drilling averaged less than 200m depth
Geological interpretation places this interval in the ‘outer halo’ of the porphyry system, with the
higher-grade core to be vectored toward with additional drilling
An advanced airborne geophysical survey commencing next week is expected to aid in targeting
at Warintza Central and within the broader 5km-long Warintza trend
A secondary objective of the geophysical survey is to refine the series of three multi-km gold-in-
soil anomalies located northeast of Warintza and generated by soil sampling last year
Additional drill results are expected by early September, with more frequent results expected as
drilling ramps up thereafter
Mr. Jorge Fierro, Vice President, Exploration, commented, “We are very pleased to have intersected a
long interval of consistent, high grade porphyry mineralization from surface on the first-ever deep hole
drilled on this property. The hole was collared within the footprint of Warintza Central, but greatly extends
mineralization to depth before terminating in a barren dyke. As expected, no significant values of
deleterious elements were detected in assaying.”
Mr. Daniel Earle, President & CEO, commented, “We are delighted to report the results of the first drill
hole completed on the Warintza Project in nearly 20 years, an achievement made possible through the
Strategic Alliance with the Warints and Yawi indigenous communities that forms the foundation of social
support for this project. With this result, we have begun to write a fitting epilogue to David Lowell’s
legendary career.”
(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 0.56% Cu, 0.03% Mo and 0.1 g/t Au (0.70% CuEq)(2), 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) CuEq(³) (%)
SLS-01 1 568 567 0.80 0.04 0.1 1.00
Including 48 492 446 0.88 0.04 0.1 1.09
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-01 WGS84 17S 799765 9648033 1571 805 351 -80
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.
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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 Solaris ’Management’s Discussion and
Analysis for the year ended December 31, 2019 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 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.