A new discovery has been made at the Varintha copper mine in Ecuador

Solaris Resources has announced a significant discovery from its Warintza project in Ecuador, the first detailed geophysical survey to reveal a larger porphyry system than previously recognized.The company has increased the number of drilling RIGS from six to 12 in order to accelerate exploration and expand its resource footprint. 

Main exploration results:

SLSW-01, the first borehole in the Waringsassi deposit, is aimed at validation of surface geochemical anomalies and was deployed prior to the completion of geophysical work.798 m of ore was found at 32 m depth with a copper equivalent grade of 0.31% (copper 0.25%, molybdenum 0.02%, gold 0.02%), including 260m thick mineralization with a copper equivalent grade of 0.42% (copper 0.35%, molybdenum 0.01%, gold 0.02%).The discovery marks another significant discovery for the Varinsa project.

Geophysical results show good continuity throughout the project, including the central, east and west high conductivity anomaly zones of Warringsa, with an area up to 3.5 km long, 1 km wide and 1 km deep.The high conductors show that the reticulation vein sulfide mineralization is closely related to the high grade copper mineralization in Waringsa.The geochemical anomaly is dwarfing by the large, isolated Varingsa South High conductance Anomaly, which is 2.3 km long, 1.1 km wide and 0.7 km deep.In addition, a previously unknown large-scale high-conductivity anomaly, known as YAWI, has been found, which is 2.8 km long, 0.7 km wide and 0.5 km deep.

Geophysical prospecting work

Solaris commissioned Geotech Ltd. 's advanced Z-axis tilting electromagnetic (ZTEM) technology to explore the 268 sq km Waringsa project.The exploration, using the latest technology, aims to map a large scale porphyry target, with a theoretical depth of up to 2,000 metres.The high conductivity (low resistivity) anomaly (less than 100 ohm m) was delineated after 3D inversion of the electromagnetic data obtained from the exploration.

Central, East and West of Valintha

The geophysical survey found that the high conductivity anomaly passed through Waringsa Central, Waringsa East and Waringsa West with good continuity, and the range reached 3.5 km long, 1 km wide and 1 km deep.Anomalies are closely associated with deep, high-grade primary mineralization in the Waringsa, and do not show up well at/or near the surface.The previously described El Trinche zone appears to be a southernward extension of the Waringsa, with an abnormal length of 500m and width of 300m at the surface and a copper grade of 0.2-0.8%.Waringsassi appears to be a western depression in the middle of Waringsassi cut off by a fault and is a medium grade disseminated mineralization.

In the middle of January, 1067 meters of Walinsazhong deposit was drilled, with a copper grade of 0.49%, molybdenum of 0.02%, and gold of 0.04 g/t.The first drilling at Trinche and Waringsadong is scheduled to begin in the first half of the year.

Varin SaNa

The Waringsa South anomaly is a large, independent, high-conductivity anomaly trending NW, 4 km south of the Waringsa Central Copper Mine.The conductive anomaly zone is 2.3 km long and 1.1 km wide, with an average thickness of 700 m and a burial depth of about 200 m. There may be disseminated and/or leachate secondary mineralized zones in the upper part, and geochemical anomalies are indicated.Initial drilling is scheduled to begin in the first half of the year.

The wei

Yavie, previously unknown but discovered by this geophysical survey, is located 850 meters east of the East Waringsa anomaly.The anomalous zone is about 2.8 km long, 0.7 km wide, 0.5 km thick and about 450 meters deep.

Daniel Earle, President and Chief Executive Officer of the Company, said, "We are very pleased to have made a significant new discovery in Waringsassi, a large, thick porphyry copper body that is outside the range of the high conductivity anomaly corresponding to the middle and high grade ore body in Waringsa.Geophysical prospecting shows that the porphyry metallogenic system is larger than previously thought.The company has increased the rig count to 12 in order to accelerate drilling and increase resource growth."