QUITO, Ecuador, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Solaris Resources Inc. (TSX: SLS; NYSE: SLSR) ("Solaris” or the "Company”) is pleased to provide a Warintza Project ("Warintza” or "the Project”) update, including the latest assay results from its ongoing 2024 drilling program, now set to exceed 75,000m, and report on technical programs and early works infrastructure development.
Project Update
Drilling
- Solaris achieved the 60,000m of planned meterage for its 2024 drilling program by the end of October, and is now set to exceed 75,000m by the end of the year
- Drilling continues with nine rigs primarily focused on extension and infill of the 2024 Mineral Resource Estimate¹ ("MRE”), while also testing its connection to the Warintza West deposit, which lies outside the MRE and could deliver significant growth in an expanded pit shell
- The Company has advanced early works infrastructure development, including the improvement of 25km of road access connecting the Project to the highway grid and recent construction of 8km of new roads to support drilling activities, logistics, and mobilization (refer to Figure 1)
- Construction continues on a further 7km of roads strategically located to support future mining operations and access to the anticipated pre-stripping and drilling areas, process plant, Waste Rock Facility ("WRF”) and Tailings Management Facility ("TMF”)
- Geotechnical and hydrogeological drilling, field testing, sampling and instrumentation programs have been completed for the anticipated TMF, and are underway for the anticipated open pit, WRF, process plant and internal infrastructure and expected to be completed by year-end
- Knight Piésold Consulting is in the process of completing engineering studies for the anticipated TMF and Water Permit, with the final reports expected to be completed in the coming weeks to support the Environmental Impact Assessment review period
- The metallurgical drilling program to supplement prior test work (refer to press release dated January 23, 2023) has been completed
- Comminution testing has been completed and has returned a more detailed profile with reduced hardness in the upper part of the deposit than prior test work had suggested
- Next steps are additional flotation tests with a focus on reagent optimization for recovery improvement which is expected to be completed by year-end
- Ausenco Engineering is working on the process plant design and a preliminary flowsheet has been established, with prior test work returning high quality concentrates for copper (gold) and molybdenum
Assay Results
Drill results continue to build on the MRE, with holes SLS-111 and SLS-107 improving upon the modelled grade in its vicinity, while holes SLS 110, SLS 113-116 and SLSE-64 encountered mineralization partially outside of the MRE in the southern and northeastern sectors.
- SLS-111 (drilled southeast): 90m of 1.12% CuEq² within 475m of 0.46% CuEq² from surface
- SLS-107 (drilled northeast): 96m of 0.82% CuEq² within 543m of 0.51% CuEq² from surface
Figure 2 - Warintza Drilling and Targets
Table 1 - Mineral Resource Extension, Infill and Condemnation Results
| Hole ID | Date Reported | From (m) | To
(m) | Interval (m) | Cu (%) | Mo (%) | Au
(g/t) | CuEq² (%) | Comments |
| SLS-116 | Nov 12, 2024 | 0 | 475 | 475 | 0.22 | 0.00 | 0.02 | 0.23 | Southern sector - Infill /
Extensional |
| Including | 12 | 108 | 96 | 0.41 | 0.00 | 0.02 | 0.42 | ||
| Including | 12 | 252 | 240 | 0.29 | 0.00 | 0.02 | 0.31 | ||
| SLS-115 | 0 | 469 | 469 | 0.23 | 0.00 | 0.03 | 0.25 | Southern sector - Infill / Extensional | |
| Including | 42 | 249 | 207 | 0.36 | 0.00 | 0.02 | 0.38 | ||
| Including | 42 | 393 | 351 | 0.28 | 0.00 | 0.03 | 0.30 | ||
| SLS-114 | 0 | 563 | 563 | 0.21 | 0.00 | 0.03 | 0.24 | Southern sector - Infill / Extensional | |
| Including | 63 | 563 | 500 | 0.24 | 0.00 | 0.03 | 0.26 | ||
| Including | 96 | 165 | 69 | 0.49 | 0.00 | 0.02 | 0.50 | ||
| Including | 96 | 309 | 213 | 0.31 | 0.00 | 0.02 | 0.33 | ||
| SLS-113 | 0 | 656 | 656 | 0.17 | 0.00 | 0.03 | 0.19 | Southern sector - Infill / Extensional | |
| Including | 117 | 375 | 258 | 0.25 | 0.00 | 0.03 | 0.27 | ||
| Including | 159 | 342 | 183 | 0.31 | 0.00 | 0.03 | 0.33 | ||
| Including | 342 | 656 | 314 | 0.14 | 0.00 | 0.03 | 0.17 | ||
| SLS-111 | 0 | 475 | 475 | 0.36 | 0.01 | 0.04 | 0.46 | Central sector - infill | |
| Including | 0 | 384 | 384 | 0.43 | 0.01 | 0.05 | 0.54 | ||
| Including | 60 | 150 | 90 | 0.99 | 0.02 | 0.06 | 1.12 | ||
| Including | 60 | 243 | 183 | 0.70 | 0.02 | 0.05 | 0.83 | ||
| SLS-110 | 0 | 671 | 671 | 0.13 | 0.00 | 0.02 | 0.15 | Southern sector - Infill / Extensional | |
| Including | 117 | 303 | 186 | 0.22 | 0.00 | 0.02 | 0.24 | ||
| Including | 117 | 671 | 554 | 0.14 | 0.00 | 0.02 | 0.16 | ||
| SLS-108 | 0 | 513 | 513 | 0.48 | 0.02 | 0.04 | 0.63 | Central sector - Infill | |
| Including | 0 | 435 | 435 | 0.49 | 0.02 | 0.04 | 0.65 | ||
| Including | 228 | 303 | 75 | 0.68 | 0.02 | 0.04 | 0.81 | ||
| SLS-107 | 0 | 543 | 543 | 0.26 | 0.04 | 0.05 | 0.51 | Northwest sector - Infill | |
| Including | 0 | 96 | 96 | 0.62 | 0.03 | 0.09 | 0.82 | ||
| Including | 0 | 147 | 147 | 0.42 | 0.04 | 0.08 | 0.68 | ||
| Including | 204 | 543 | 339 | 0.23 | 0.04 | 0.04 | 0.47 | ||
| SLS-106 | 0 | 230 | 230 | 0.18 | 0.03 | 0.04 | 0.39 | Northwest sector - Infill | |
| Including | 0 | 204 | 204 | 0.19 | 0.04 | 0.04 | 0.42 | ||
| Including | 42 | 90 | 48 | 0.39 | 0.04 | 0.05 | 0.65 | ||
| Including | 42 | 138 | 96 | 0.30 | 0.04 | 0.04 | 0.53 | ||
| SLS-105 | 0 | 323 | 323 | 0.19 | 0.03 | 0.04 | 0.37 | Northwest sector - Infill | |
| Including | 0 | 210 | 210 | 0.22 | 0.04 | 0.04 | 0.45 | ||
| Including | 42 | 111 | 69 | 0.37 | 0.05 | 0.04 | 0.68 | ||
| SLSE-70 | 0 | 394 | 394 | 0.38 | 0.01 | 0.06 | 0.49 | Eastern sector - Infill | |
| Including | 24 | 99 | 75 | 0.60 | 0.01 | 0.05 | 0.71 | ||
| Including | 24 | 210 | 186 | 0.44 | 0.02 | 0.05 | 0.56 | ||
| Including | 210 | 394 | 184 | 0.35 | 0.01 | 0.07 | 0.47 | ||
| SLSE-69 | 0 | 208 | 208 | 0.07 | 0.00 | 0.02 | 0.10 | Eastern sector - Condemnation | |
| SLSE-64 | 0 | 391 | 391 | 0.10 | 0.00 | 0.02 | 0.14 | Northeast sector - Infill / Extensional | |
| SLSE-63 | 0 | 251 | 251 | 0.09 | 0.00 | 0.03 | 0.12 | Northeast sector - Condemnation | |
| SLSE-59 | 0 | 410 | 410 | 0.09 | 0.00 | 0.02 | 0.12 | Northeast sector - Condemnation | |
| SLST-06 | 0 | 200 | 200 | 0.10 | 0.00 | 0.05 | 0.13 | Southern sector - Infill | |
| SLST-05 | 0 | 400 | 400 | 0.10 | 0.00 | 0.03 | 0.13 | Southern sector - Infill | |
| SLST-04 | 0 | 500 | 500 | 0.10 | 0.00 | 0.04 | 0.13 | Southern sector - Infill |
Table 2 - Collar Locations
| Hole ID | Easting | Northing | Elevation (m) | Depth (m) | Azimuth (degrees) | Dip (degrees) |
| SLS-116 | 800,241 | 9,647,745 | 1,710 | 475 | 243 | -74 |
| SLS-115 | 800,239 | 9,647,740 | 1,710 | 469 | 240 | -46 |
| SLS-114 | 800,235 | 9,647,740 | 1,709 | 563 | 66 | -71 |
| SLS-113 | 800,239 | 9,647,739 | 1,710 | 656 | 61 | ()[\]\\.,;:\s@\"]+)*)|(\".+\"))@((\[[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\])|(([a-zA-Z\-0-9]+\.)+[a-zA-Z]{2,}))$/;return b.test(a)}$(document).ready(function(){if(performance.navigation.type==2){location.reload(true)}$("iframe[data-lazy-src]").each(function(b){$(this).attr("src",$(this).attr("data-lazy-src"))});if($(".owl-article-body-images").length){$(".owl-article-body-images").owlCarousel({items:1,loop:true,center:false,dots:false,autoPlay:true,mouseDrag:false,touchDrag:false,pullDrag:false,nav:true})}var a=$("#display_full_text").val();if(a==0){$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:$("#cms_article_id").val()},dataType:"json",success:function(b){},error:function(b,d,c){}})}$(".read-full-article").on("click",function(d){d.preventDefault();var b=$(this).attr("data-cmsArticleId");var c=$(this).attr("data-productId");var f=$(this).attr("data-href");dataLayer.push({event:"paywall_click",paywall_name:"the_manila_times_premium",paywall_id:"paywall_article_"+b});$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:b,productId:c},dataType:"json",success:function(e){window.location.href=$("#BASE_URL").val()+f},error:function(e,h,g){}})});$(".article-embedded-newsletter-form .close-btn").on("click",function(){$(".article-embedded-newsletter-form").fadeOut(1000)})});$(document).on("click",".article-embedded-newsletter-form .newsletter-button",function(){var b=$(".article-embedded-newsletter-form .newsletter_email").val();var d=$("#ga_user_id").val();var c=$("#ga_user_yob").val();var a=$("#ga_user_gender").val();var e=$("#ga_user_country").val();if(validateEmail(b)){$.ajax({url:"/ajax/sendynewsletter",type:"POST",data:{email:b},success:function(f){$(".article-embedded-newsletter-form .nf-message").html(f);$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000);dataLayer.push({event:"newsletter_sub",user_id:d,product_name:"newsletter",gender:a,yob:c,country:e})},error:function(f,h,g){}})}else{$(".article-embedded-newsletter-form .nf-message").html("Please enter a valid email address.");$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000)}});$(document).on("click",".article-embedded-newsletter-form .nf-message",function(){$(this).removeClass("show");$(this).html("")});
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