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Solaris Resources (TSX: SLS) (NYSE: SLSR) has provided a mineral resource estimate (MRE) for the in-pit portion of its Warintza project in southeastern Ecuador in support of an upcoming pre-feasibility study (PFS).
The resource totalled 909 million tonnes grading 0.53% copper equivalent (CuEq) in the measured and indicated categories, plus an additional 1.43 billion tonnes at 0.37% CuEq in inferred, at the base case cut-off grade of 0.25% CuEq.
Applying a higher cut-off grade (0.50% CuEq) to reflect the near-surface, higher-grade mineralization, the resource would then total 427 million tonnes measured and indicated at 0.71% CuEq and 177 million tonnes inferred at 0.62% CuEq.
“We are very pleased to be able to release this standalone MRE which draws on our combined years of experience with open pit copper projects in the Americas,” Solaris CEO Javier Toro said in a news release.
Warintza represents a world-class copper discovery that was made in 2001, then under the ownership of Equinox Resources until the project was spun out in 2018. Since then, Solaris has been tasked with its exploration and development, and it recently attracted interest from majors such as China’s Zijin Mining.
“This new MRE provides a solid foundation for future updates and a robust mine plan with a low strip ratio, simple metallurgy and clean concentrates. In support of the PFS, we are doing further technical, infill and extensional drilling into open areas within and adjacent to the pit shell,” Toro added.
The company is in the midst of a 60,000-metre drill program (140 holes from 80 platforms) at Warintza to provide improved drilling coverage targeting open lateral extensions, upgrading mineral resources and converting remaining uncategorized blocks within the pit shell.
Results will be used to support the PFS, which Solaris aims to complete in the second half of 2025.
Concurrent district exploration programs are also underway, targeting complementary discoveries from an expanded portfolio of epithermal gold/silver and porphyry copper targets. This is occurring in an area where recent sampling has returned values between 4 and 12 grams per tonne gold.
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