Post by
savyinvestor333 on Apr 19, 2021 2:55pm
TD Flash Note
Solaris Resources Inc. (SLS-T) C$9.23 Central Continues to Grow; 800m of 0.83% CuEq From Surface Arun Lamba, CFA Jamie Carmichael, (Associate) Event This morning, Solaris reported results for three holes from the ongoing resource growth and discovery drill program at its Warintza copper-molybdenum-gold project (100%) in south-eastern Ecuador. Impact: POSITIVE
The latest three holes have continued to return long intervals of highgrade mineralization, with the highest grades starting from surface, extending mineralization between the eastern and western drilling and stepping out to the north and south.
SLS-17 was collared on the western side of Warintza Central and drilled into an open volume to the south, returning 494m of 0.50% CuEq from surface, extending the southern limit of mineralization in this direction.
SLS-18 was collared on the western side of Warintza Central and drilled into an open volume to the southeast, returning 797m of 0.83% CuEq from near surface, including 370m of 0.94% CuEq, adding mineralization between the western and eastern drilling at Warintza Central.
SLS-20 was collared on the eastern side of Warintza Central and drilled into an open area to the north, returning 688m of 0.51% CuEq from surface, including 366m of 0.60% CuEq, extending the limit of mineralization in this direction.
Recall, the median grade for open-pit copper discoveries over the last two decades is ~0.37 g/t Cu.
To date, 28 holes have been drilled at Warintza Central of which results have been reported for 19. Results for SLS-19 were delayed by geotechnical issues during drilling but are expected in the near future.
Solaris last reported that drilling is ongoing with six rigs (increasing to 12 by midyear). Maiden drilling targeting new discoveries at Warintza East and South is expected to begin this quarter.
As a reminder, Warintza Central is presently defined by 124 Mt of Inferred Resources grading 0.70% CuEq (2019), averaging less than 200m in depth and based on historic drilling of <7 km. The company reported a cash balance of C$93mm (December 31). Anticipated Timeline
Warintza Drill Results — Ongoing
Maiden Drilling at Warintza East & South for Discovery Potential within 5km x 5km Porphyry Cluster — Q2/21E
Resource Update — Q3/21E
Maiden Drilling at Yawi and Caya — H2/21E
Comment by
StockPick40 on Apr 23, 2021 11:39am
"Impact: Positive" seems like a bit of an understatement