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Solaris Resources Inc T.SLS

Alternate Symbol(s):  SLSR

Solaris Resources Inc. is a Canada-based multi-asset exploration company that is engaged in advancing a portfolio of copper and gold assets in the Americas. Its Warintza property is a porphyry copper-molybdenum-gold project located in southeastern Ecuador in the province of Morona Santiago. It includes nine metallic mineral concessions covering 26,777 hectares (ha). The Ricardo property is an exploration porphyry copper prospect located near Calama, Chile in the Calama Mining District. Its claim block covers approximately 16,000 ha. The Tamarugo property is a grass-roots copper porphyry target located in northern Chile approximately 85 kilometers northeast of Copiapo. Its claim blocks cover a total of approximately 12,300 ha. The Capricho project is a 4,200-ha copper-molybdenum-gold property. The Paco Orco project is a 4,400-ha lead, zinc and silver property. The La Verde property is situated in the Sierra Madre del Sur west of Mexico City, including the Unificacion Santa Maria claim.


TSX:SLS - Post by User

Post by savyinvestor333on Sep 28, 2021 7:03am
177 Views
Post# 33929267

From Scotia this Morning

From Scotia this MorningSolaris Resources Inc. Warintza East Drilling Continues to Expand Mineralized Footprint
OUR TAKE: Positive.

Solaris Resource reported additional assay results from drilling at the flagship Warintza project in Ecuador. SLSE-02 represents the second hole drilled at Warintza East and returned 320m of 0.48% Cueqv, including 62m of 0.68% Cueqv from surface. In addition, SLS reported the remaining assays from hole SLS-01 with the entire hole returning 1,213m of 0.28% Cueqv including the previously reported 320m of 0.46% Cu eqv from surface (see our July 20, 2021 note for details here). Notably too SLS reported that drilling results to date suggest an offset of higher-grade mineralization to the north that is being targeted with future drilling and suggesting potential to extend a “super pit” to the north and east.

Overall we view the latest drilling results from Wartinza favourably as they continue to expand the mineralized footprint including higher-grade areas located near surface.

SLS shares are rated SO with a C$14 price target.

KEY POINTS Detail - SLSE-01 was collared approximately 1,300m east of Warintza Central and drilled to the southwest, while SLSE-02 was collared from the same platform but drilled to the northwest. Remaining assays from SLSE-02 are expected in October, along with the results of step-out drilling from Warintza Central. Location of latest drilling is shown in Exhibits 1 and 2. Valuation - SLS shares are currently trading at 0.78x our P/NAV estimate using Scotiabank GBM's long-term copper price of $3.25/lb.
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