Solaris’s resource boost for Warintza copper project beats analysts’ predictions 

Solaris Resources (TSX: SLS; OTC: SLSSF) has posted an updated resource estimate for the Warintza Central deposit at its Warintza copper project in southeastern Ecuador that has expanded inferred tonnage by seven times, includes a first-ever indicated resource, and has also outlined a potential starter pit.

The property now has indicated resources of 579 million tonnes grading 0.47% copper, 0.03% molybdenum and 0.05 gram gold per tonne for 2.7 million tonnes of copper, 150.000 tonnes of molybdenum and 930,000 oz. of gold. Inferred resources add 887 million tonnes grading 0.39% copper, 0.01% molybdenum, 0.04 gram gold for 3.5 million tonnes of copper, 0.13 million tonnes of molybdenum and 1.1 million oz. gold.

The project’s previous resource estimate totalled 124 million tonnes grading 0.56% copper, 0.03% molybdenum and 0.1 gram gold per tonne in the inferred resource category. 

“The update is very significant because the copper industry hasn’t made any discoveries of a globally significant scale, such as this Warintza mineral resource estimate, since Ivanhoe Mines Kamao-Kakula discovery in 2014,” Jacqueline Wagenaar, the company’s vice president of Investor Relations told The Northern Miner by mail.  

The Kamoa-Kakula copper project is a joint venture that analysts from Wood Mackenzie ranked as one of the world’s largest, undeveloped coppery discovery. The joint venture project has resources of 1.3 billion tonnes grading 2.74% copper in the indicated category and 339 million tonnes grading 1.68% copper in the inferred.