Solaris Resources Inc T.SLS

From Beacon Securities Target $20.00

[savyinvestor333]

Solaris Resources Inc. (SLS-T) MRE Update:

The Making Of A World Class Of A Copper Deposit

This morning Solaris Resources announced a significantly positive update to its mineral resource estimate (MRE) for its Warintza Central project located in Ecuador. The total Warintza Central MRE is now 1.5Bt grading 0.52% eqCu. It includes a potential starter pit material of 287MMt grading 0.79% eqCu (at 0.6% eqCu cut-off). Our Take: This resource base (and its higher-grade starter pit portion) far exceeds our estimate (of 990MMt). The grades also exceed our expectations, as reported eqCu grades include expected recoveries for copper, gold and molybdenum (relative to our 100% recoveries).

The starter pit is bound to have very low strip ratio, as the higher-grade in this mineralized system starts at surface. The combined MRE tonnages and grades are highly positive to valuation. Moreover, mineralization still remains open in most directions and open for expansion. The company highlights the potential to add higher grades at surface especially to the northeast, significantly adding to the starter pit’s potential. This may result in early payback period. Resource drilling cut-off date was in November 2021; however, drilling is ongoing.

We will update our model and anticipate an increased NAV as a result of increased LOM and adjusted grades. MRE Highlights:

• Total MRE of 1.5 Bt at 0.52% eqCu (at 0.3% CuEq cut-off grade), comprised of: o 579MMt at 0.59% eqCu in the indicated and o 887MMt grading 0.47% eqCu in the inferred categories.
• The MRE includes a potential starter pit, having a low strip ratio, of 287MMt at 0.79% eqCu (at 0.6% eqCu cut-off grade), comprised of; o Indicated: 180MMt at 0.82% CuEq o Inferred 107MMt at 0.73% CuEq
• Ongoing Drilling: focused on extensions of near surface, high-grade mineralization to the northeast and southeast of Warintza Central.
• Growth Potential: Warintza Central is only one of four discoveries in a 7km x 5km cluster of porphyry deposits on the Warintza project. The potential to add tonnages coming from Warintza East, Warintza West and Warintza South provides for a major growth potential,
• Super Pit Potential: Warintza Central pit shell includes overlapping portion of Warintza East. The mineralization remains open in most directions and provides a growth potential within a shared pit.
• Infrastructure: The Warintza project is located within an existing mining district. It has access to highway, abundant and low-cost hydroelectric power, fresh water and labour Previously SLS informed that additional platforms for follow-up drilling to infill and step-out on the higher-grade areas is being constructed.
Drilling is expected to be focused on targeting the open areas to the north and northeast and southeast. The additional platforms will be utilized conduct further step-outs in pursuit of further growth post the MRE update. We believe SLS to be an attractive takeout target. Given its grade and size combination and at the rate SLS is expanding its mineralization footprint, SLS should start to, if it hasn’t already, attract a number of suitors. The MRE update buttress our confidence on the project’s potential to continue to expand the MRE

[ddogold]

I'm in with an initial buy . GLTA 

[savyinvestor333]

Welcome aboard ddogold recognize you from the XBC and QUIS boards. GLTA quote=ddogold]I'm in with an initial buy . W  [/quote]

[ddogold]

Thanks Savy . Quis has been and will continue to be a winner . I owned xbc for many years and made out great . I now check in on the board periodically . It's quite entertaining and I enjoy teasing TT , my bad . Lol