Solaris Resources (SLS.TO) Update - Jan 17
Posted: Tue Jan 17, 2023 10:08 am
January 17, 2023 – Vancouver, B.C. – Solaris Resources Inc. (TSX: SLS; OTCQB: SLSSF) (“Solaris” or “the Company”) is pleased to report assay results from a series of holes aimed at growing mineral resources at the Warintza East discovery within its Warintza Project (“Warintza” or “the Project”) in southeastern Ecuador.
Note below is from one of our super smart members in Calgary.
Solaris updated their latest Warintza East drilling this morning, which is significant. As a reminder, their resource report from last year highlighted close to 1.5B Mt CuEq resources above a cutoff of 0.30% CuEq including an Indicative Starter Pit of 180 Mt CuEq. They have drilled several new holes in the “Indicative Starter Pit” this year and we are assuming at a minimum, they double the size of the resource through their 2022 drilling campaign ~ +400 Mt. As a reminder, a potential buyer could spend close to 10 years (40 Mt/a year plant) just drilling the much higher grade starter pit. SLS also spent 2022 actively drilling outside of the Warintza starter pit and we are expecting their total resource to be well beyond the 2BB+ Mt CuEq cut-off grade of 0.30%. The economics for a potential suitor has become significantly more robust in 2022. Please keep in mind we are now 348 days away from what many experts believe to be the first year of the structural deficit in copper.
Highlights
SLSE-16: 108m of 0.57% CuEq within a broader interval of 712m of 0.45% CuEq from surface, extending mineralization to the south and southeast where it remains open
SLSE-17: 144m of 0.52% CuEq from surface within a broader interval of 914m of 0.40% CuEq, extending mineralization to the east where it remains open
SLSE-19: 270m of 0.40% CuEq from surface within a broader interval of 580m of 0.31% CuEq, expanding the footprint to the northeast where it remains open
Assays pending from a series of extensional holes to the north, east, south and southeast
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MY TAKE: Solaris has discovered and is proving up a "World Class" copper discovery Ecuador. This Company's management team has a strong track record of success is finding and selling discoveries like this for large profits.
Note below is from one of our super smart members in Calgary.
Solaris updated their latest Warintza East drilling this morning, which is significant. As a reminder, their resource report from last year highlighted close to 1.5B Mt CuEq resources above a cutoff of 0.30% CuEq including an Indicative Starter Pit of 180 Mt CuEq. They have drilled several new holes in the “Indicative Starter Pit” this year and we are assuming at a minimum, they double the size of the resource through their 2022 drilling campaign ~ +400 Mt. As a reminder, a potential buyer could spend close to 10 years (40 Mt/a year plant) just drilling the much higher grade starter pit. SLS also spent 2022 actively drilling outside of the Warintza starter pit and we are expecting their total resource to be well beyond the 2BB+ Mt CuEq cut-off grade of 0.30%. The economics for a potential suitor has become significantly more robust in 2022. Please keep in mind we are now 348 days away from what many experts believe to be the first year of the structural deficit in copper.
Highlights
SLSE-16: 108m of 0.57% CuEq within a broader interval of 712m of 0.45% CuEq from surface, extending mineralization to the south and southeast where it remains open
SLSE-17: 144m of 0.52% CuEq from surface within a broader interval of 914m of 0.40% CuEq, extending mineralization to the east where it remains open
SLSE-19: 270m of 0.40% CuEq from surface within a broader interval of 580m of 0.31% CuEq, expanding the footprint to the northeast where it remains open
Assays pending from a series of extensional holes to the north, east, south and southeast
-----------------------------------
MY TAKE: Solaris has discovered and is proving up a "World Class" copper discovery Ecuador. This Company's management team has a strong track record of success is finding and selling discoveries like this for large profits.