Solaris Significantly Expands Warintza East Discovery in Continued Extensional Drilling
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Solaris Significantly Expands Warintza East Discovery in Continued Extensional Drilling
January 17, 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 mineral resources at
the Warintza East discovery within its Warintza Project (“Warintza” or “the Project”) in southeastern
Ecuador. Highlights are listed below, with a corresponding image in Figure 1 and results in Tables 1-2.
Highlights
Warintza East was discovered in July 2021, with eight holes covering the overlapping periphery included
in the Warintza Central Mineral Resource Estimate (“MRE”)¹ in April 2022. These follow-up drill results
significantly expand the drilled dimensions of the Warintza East footprint to the northeast, east and south,
with the deposit remaining open in these directions, most importantly towards strong soil anomalism to
the south.
● SLSE-16 was collared at the eastern limit of the grid and drilled southwest into an open volume,
returning 108m of 0.57% CuEq² within a broader interval of 712m of 0.45% CuEq² from surface,
extending mineralization to the south and southeast where it remains open
● This hole was collared approximately 250m to the southeast of SLSE-13 (refer to Company press
release dated Nov 14, 2022), which previously returned 104m of 0.45% CuEq² from surface within
a broader interval of 618m of 0.29% CuEq²
● SLSE-17 was collared in the middle of the Warintza East drill grid and drilled southeast into an
open volume, returning 144m of 0.52% CuEq² from surface within a broader interval of 914m of
0.40% CuEq², extending mineralization to the east where it remains open
● This hole extends the drilled dimensions further to the east beyond SLSE-14 (refer to Company
press release dated Nov 14, 2022), which previously returned 292m of 0.50% CuEq² from near
surface within a broader interval of 694m of 0.40% CuEq²
● SLSE-19 was collared in the middle of the Warintza East drill grid and drilled northeast into an
open volume, returning 270m of 0.40% CuEq² from surface within a broader interval of 580m of
0.31% CuEq², expanding the footprint to the northeast where it remains open
● Drilling to date confirms Warintza East as a significant porphyry deposit that adjoins Warintza
Central and remains open for expansion, with assays pending from a series of extensional holes
to the north, east, south and southeast
Mr. Jorge Fierro, Vice President, Exploration, commented: “Warintza East’s largely undrilled footprint is a
target for major mineral resource growth in the ongoing drilling program where only minimal drilling was
included in the MRE and adjoins with Warintza Central. Assays are pending from further extensional holes
to the north and east and targeting strong soil anomalism in step-out drilling to the south.”
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Figure 1 – Plan View of Warintza East Drilling Released to Date
Table 1 – Assay Results
Hole ID Date Reported From (m) To (m) Interval (m) Cu (%) Mo (%) Au (g/t) CuEq² (%)
SLSE-19
Jan 17, 2023
0 580 580 0.24 0.01 0.03 0.31
Including 0 270 270 0.31 0.02 0.04 0.40
SLSE-18 30 524 494 0.16 0.01 0.04 0.20
SLSE-17 0 914 914 0.32 0.01 0.04 0.40
Including 0 144 144 0.45 0.01 0.05 0.52
SLSE-16 8 720 712 0.36 0.02 0.05 0.45
Including 76 184 108 0.46 0.02 0.06 0.57
Notes to table: True widths of the mineralized zone are not known at this time.
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Table 2 - Collar Location
Hole ID Easting Northing Elevation
(m) Depth (m) Azimuth
(degrees)
Dip
(degrees)
SLSE-19 801485 9648192 1170 816.48 48 -65
SLSE-18 801684 9648074 1221 1018.74 48 -65
SLSE-17 801485 9648192 1170 1011.39 105 -70
SLSE-16 801684 9648074 1221 844.61 225 -45
Notes to table: The coordinates are in WGS84 17S Datum.
Endnotes
1. 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.
2. 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 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. ZTEM data quality was validated by a qualified external professional using data
validation procedures under high industry standards, and the Company therefore did not deem it
necessary to have such ZTEM data verified by a Qualified Person. 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” 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).
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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
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 Warintza East remains open to the northeast, east and towards strong soil anomalism to the south,
drilling to date confirms Warintza East as a significant porphyry deposit that adjoins Warintza Central and remains
open for expansion, with assays pending from a series of extensional holes to the north, east, south and southeast,
and that Warintza East’s largely undrilled footprint is a target for major mineral resource growth in the ongoing
drilling program where only minimal drilling was included in the MRE and adjoins with Warintza Central. Assays are
pending from further extensional holes to the north and east and targeting strong soil anomalism in step-out drilling
to the south. 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.