Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Solaris Resources (TSX: SLS) has reported the latest assays from its flagship Warintza copper-gold project in south-eastern Ecuador, about 85 km east of the city of Cuenca.
The company reported results from four drill holes that the company says have extended the strike length of Warintza Central 1,250 metres to the east, with some of the strongest intervals reported so far on the project.
Highlights included drillholes SLS-24, which was collared on the south-eastern limit of the Warintza Central grid and drilled into an open area due east. The hole intersected 952 metres grading 0.53% copper, 0.02% molybdenum, and 0.04 gram gold per tonne (0.62% copper-equivalent) starting from ten metres, including 502 metres of 0.57% copper, 0.02% molybdenum, and 0.05 gram gold (0.67% copper-equivalent).
Hole SLS-25, collared on the western limit of the grid and drilled into a partially open area to the southwest, returned 382 metres grading 0.62% copper, 0.03% molybdenum, and 0.08 gram gold (0.77% copper-equivalent) from 62 metres, including 230 metres of 0.87% copper, 0.04% molybdenum, and 0.10 gram gold (1.06% copper-equivalent).
The latest drilling “has continued to expand the footprint of Warintza Central toward our goal of defining a large, high-grade, open pit resource,” Jorge Fierro, Solaris’ vice president of exploration, stated in a press release, adding that “with these holes, the drilled strike length has grown to the east beyond the original limits of planned resource drilling and remains open toward Warintza East, where results of maiden drilling are expected soon.”
To date, 36 holes have been completed at Warintza Central, with assays reported for 26.
In addition to Warintza, the company has assets in Chile and Peru and a 60% interest in the development stage La Verde joint-venture project with Teck Resources (TSX: TECK.A/TECK.B; NYSE: TCK) in Mexico.
(This article first appeared in The Northern Miner)
