Currently viewing Global edition

Solaris makes Warintza West discovery

Solaris Resources has announced a new discovery at Warintza West in Ecuador where maiden drilling and the first detailed geophysical survey have revealed a more extensive porphyry system than previously understood.
Solaris makes Warintza West discovery Solaris makes Warintza West discovery Solaris makes Warintza West discovery Solaris makes Warintza West discovery Solaris makes Warintza West discovery

3D long-section looking NE at Solaris Resources' Warintza project in Ecuador

The first hole drilled at Warintza West, targeting surface geochemistry prior to the receipt of geophysical results, returned a long interval of copper porphyry mineralisation, marking a new discovery with results of 798m grading 0.25% copper, 0.02% molybdenum and 0.02 grams per tonne gold for 0.31% copper-equivalent.

Geophysics later revealed this interval lies adjacent to a high-conductivity anomaly encompassing Warintza Central, Warinzta East and Warintza West, with dimensions of 3.5km-by-1km, by-1km deep. High conductivity reflects sulphide stockwork mineralisation correlating closely to high-grade copper mineralisation at Warintza Central.

"We are delighted to have made a significant new discovery at Warintza West, with our first hole returning a long interval of copper porphyry mineralisation outside the high-conductivity anomaly that corresponds to high-grades at Warintza Central. With the geophysics revealing a much more extensive porphyry system than previously recognised, we're doubling our resource growth and discovery drill program from six to 12 rigs," said Solaris Resources president and CEO Daniel Earle.

The advanced airborne ZTEM survey covered the entire 268sq.km Warintza area land package and was designed to map large-scale porphyry targets to theoretical depths exceeding 2km.

Shares in Solaris Resources are trading at C$6.15, valuing the company at $644 million.