Solaris Resources Inc T.SLS

Alternate Symbol(s): SLSR

Metals & Mining Industrial Metals & Minerals

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.

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Post by retiredcfon Dec 05, 2022 9:01am

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Post# 35150622

TD

Maintain their $20.00 target. GLTA

Solaris Resources Inc.

(SLS-T) C$7.55

Continues to Expand ‘Indicative Starter Pit’ at Central Event

This morning, Solaris reported assay results from a series of holes aimed at growing the Northeast Extension of the ‘Indicative Starter Pit’ at its Warintza Project in southeastern Ecuador.

Impact: SLIGHTLY POSITIVE

Resource expansion drilling continues to build on the Northeast Extension of the ‘Indicative Starter Pit’ which was estimated at 180 Mt at 0.82% CuEq (Indicated) and 107 Mt at 0.73% CuEq (Inferred) within the Warintza Resource Estimate (~1.5 Bt at 0.52% CuEq) based on drilling to the end of 2021.
SLS-67 was collared at the north-central limit of Warintza Central and drilled southwest, returning 108m of 1.20% CuEq within a broader interval of 604m of 0.51% CuEq from near surface.
This hole expands on the area of high-grade near surface mineralization in combination with SLS-48 which was collared from the same platform but drilled south, returning 100m of 1.64% CuEq within a broader interval of 852m of 0.56% CuEq from near surface.
SLS-68 was collared from the same platform as SLS-67 and drilled steeply to the northwest, returning 72m of 1.00% CuEq within a broader interval of 616m of 0.44% CuEq from near surface, expanding this area of higher-grade mineralization from near surface.
SLS-65 was collared from a recently constructed 250m step-out platform at the northeast limit of the Warintza Central grid and drilled northwest, returning 286m of 0.55% CuEq from near surface.
Management reported that the Northeast Extension remains open to the north with assays pending from recently completed holes. Further extensional drilling is planned with a 200m step-out platform on the northeastern margin of the drill grid aimed at expanding the zone in this direction.
The next set of results are expected to be from the remaining holes drilled from the discovery platform at Warintza West (see Flash Note) outlining a mineralized porphyry with minimum dimensions of 900m x 600m, and the next series of holes targeting the expansion of Warintza East.
Solaris last reported cash of $22mm (November 8) and no debt. Additional funds could come from warrants expiring in May 2023 (C$30mm at C$1.20/sh).