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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 7:52am
225 Views
Post# 33929378

From TD this morning

From TD this morningSolaris Resources Inc. (SLS-T) C$11.68 Warintza East Expanded; Targeting High-grade Link to Central

Event Yesterday morning, Solaris reported additional results from its recent Warintza East discovery within its Warintza Project in southeastern Ecuador (see our initial thoughts here).

Impact: NEUTRAL

The first two holes at Warintza East (see page 2) returned long intervals of copper porphyry mineralization from surface across a significant portion of the undrilled gap to Warintza Central (suggesting potential continuity between the two zones).
The company reported that visual observation of mineralization in the second hole and step-out drilling completed northeast of Warintza Central suggest an offset in the east-west corridor of higher-grade mineralization to the north that is being targeted in ongoing drilling.
Moreover, visual observation of core from SLSE-02 suggests that a broader interval of mineralization may exist than the portion for which assays have been received and reported herein.
Remaining assays are expected in October, along with the results of step-out drilling from Warintza Central.
With the latest discovery at Warintza East, it appears that the conceptual pit shell could be extended to the north and east (potential to become a ‘superpit’ joining the two areas).
Recall, our model for Warintza is based only on Warintza Central (we currently anticipate resources of ~620 Mt at ~0.65% CuEq; however, recent drilling suggests that we could potentially see a bigger resource) and does not incorporate the discovery potential at the company's other targets (West, South, East, etc.). An updated resource is expected in Q1/22.
Solaris is well-funded, with $60mm of cash as at June 30. TD Investment Conclusion World-class discoveries are rare and unique, and we believe that Solaris is in the early stages of making multiple world-class discoveries among its cluster of porphyries on the Warintza property. We expect the stock to continue to re-rate higher as the company demonstrates the growth potential of the project.
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