Post by
savyinvestor333 on Jun 14, 2021 8:18am
TD Flash note
Solaris Resources Inc. (SLS-T) C$11.95 Major Porphyry Target Defined at Yawi Arun Lamba, CFA Jamie Carmichael, (Associate) Event This morning, Solaris announced that it has started maiden drilling at Warintza East. In addition, the company reported that it has defined a major copper porphyry target at Yawi from the further processing of geophysical and geochemical data at its Warintza Project, extending the strike length of the Warintza cluster of porphyry targets to 7km.
Impact: POTENTIALLY POSITIVE
As a reminder, Warintza East is located approximately 1km east of Warintza Central (at slightly lower elevation), where recent drilling has intersected 1,029m of 0.73% CuEq, including 420m of 0.83% CuEq from surface (see Flash Note).
Warintza East is one of the five main targets within the 7km x 5km cluster of porphyry targets (previously estimated at 5km x 5km) defined on the property and has a similar expression as Warintza Central, with overlapping copper and molybdenum soil anomalies associated with an underlying high-conductivity anomaly.
Further processing of the geophysical dataset (see initial results from February here) has revealed a more extensive, high-conductivity anomaly at the recentlyidentified Yawi target (located approximately 1.5km to the east of Warintza East).
Weather conditions are improving at site and drilling activities are once again ramping up, with eight drill rigs turning, the ninth rig set to commence in the coming days, and the tenth rig being delivered.
As at March 31, Solaris reported a cash balance of $69mm (~2 years of spending).
World class discoveries are rare and unique, and we believe that Solaris is in the early stages of making its third discovery 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.
Please refer to our May 10 bulletin 'The Case for a C$20.00 Share Price' (based on Central Only) for a recent detailed company analysis. Anticipated Timeline
Warintza Drill Results — Ongoing Resource Update — H2/21E
Maiden Drilling at Warintza South, Yawi and Caya — H2/21E