TD Flash NoteEvent This morning, Solaris reported drill results from five holes at its Warintza Project in southeastern Ecuador.
Impact: SLIGHTLY POSITIVE
Today's drill holes (to be included in the April resource update) expand on two key growth areas with near surface, high-grade mineralization on the edge of resource drilling that remains open. Further extensions to the northeast and southeast represent priority targets for further growth with step-out drilling commencing shortly.
Additional drilling has expanded the northeast extension area, which remains open with follow-up and step-out drilling underway. This zone is characterized by near surface mineralization at the northeastern limit of drilling at Warintza Central and represents a priority target for further growth.
SLS-54 was collared at the northeastern limit of the grid and drilled into an open volume near surface, returning 356m of 0.73% CuEq from 50m depth within a broader interval of 1,093m of 0.56% CuEq from surface.
Follow-up drilling from existing platforms is underway, with a 260m northeast stepout platform recently completed and a second platform stepping out further to the northeast under construction. Further drilling has also expanded the southeast extension area, which remains open in near surface, high-grade mineralization.
SLS-53 was collared from a southeastern platform returning 176m of 0.78% CuEq from 16m depth, within a broader interval of 957m of 0.46% CuEq from 10m depth that infilled drilling at depth.
SLS-52 was collared on the eastern side of the grid returning 482m of 0.62% CuEq from 96m depth, within a broader interval of 977m of 0.45% CuEq from near surface that infilled drilling at depth.
SLS-51 was collared from the south-central portion of the grid returning 918m of 0.50% CuEq from 130m depth within a broader interval of 1,012m of 0.47% CuEq from near surface that infilled drilling at depth.
To date, 62 holes have been completed at Warintza Central with assays reported for 54 of these. Solaris last reported a cash balance of ~$34mm (December 31).