- Solaris Resources Inc. (SLS) has expanded new exploration targets at its Warintza Project
- Seven drill rigs are targeting high-priority porphyry and skarn targets
- Drilling is extending near-surface high-grade mineralization through to the largely untested Warintza East
- Samples have been sent to the lab, but assay results are backlogged due to protesting
- Solaris also stated its spinout plan is progressing well
- Solaris Resources Inc. (SLS) is up 9.78 per cent and is trading at $7.52 per share as of 11:12 a.m. ET
Solaris Resources Inc. (SLS) has expanded new exploration targets at its Warintza Project in Ecuador.
The company stated its activities at the Warintza Project are continuing with seven drill rigs targeting high-priority porphyry and skarn targets outlined from a recent mineral resource estimate.
According to Solaris, drilling is extending near-surface high-grade mineralization, and will eventually cover the largely untested Warintza East.
Core samples have just been sent to the company’s prep lab, but there is a considerable backlog of assays awaiting to be completed due to recent protests in Ecuador.
Solaris noted that this is the first significant program of regional exploration at Warintza since the 1990s. The previous work identified a cluster of porphyry targets.
The company’s current work has been able to outline the aforementioned targets and outlined overlapping mineralized porphyries intruding layered structures that have provided a fertile setting to develop prospective types of mineralization.
Additionally, Solaris stated it is advancing a proposed spinout and has made progress with its internal reorganization of itself, its subsidiaries, and mineral licenses. The company also transferred its non-core assets to its newly incorporated subsidiary called Solaris Exploration Inc.
The company is expecting that all the shares from its new subsidiary will be spun out to current company shareholders.
Solaris Resources Inc. (SLS) is up 9.78 per cent and is trading at $7.52 per share as of 11:12 a.m. ET.