Solaris surges on drill hole discovered by legendary mine finder
Latin America focused junior Solaris Resources (TSXV:SLS) reported a drill hole of 567m of 0.80% Cu, 0.04% Mo, and 0.1 g/t Au on Monday at its Warintza project in Ecuador.
Over the past two days the stock has traded up 70% to $2.99.
Jorge Fierro, vice president of exploration, noted the drill hole ran from surface.
“We are very pleased to have intersected a long interval of consistent, high grade porphyry mineralization from surface on the first-ever deep hole drilled on this property. The hole was collared within the footprint of Warintza Central, but greatly extends mineralization to depth before terminating in a barren dyke. As expected, no significant values of deleterious elements were detected in assaying,” said Fierro.
Recently passed mining legend, David Lowell, is credited by Solaris with finding Warintza, part of a regional exploration program he led in the early 2000s.
“We are delighted to report the results of the first drill hole completed on the Warintza Project in nearly 20 years, an achievement made possible through the Strategic Alliance with the Warints and Yawi indigenous communities that forms the foundation of social support for this project. With this result, we have begun to write a fitting epilogue to David Lowell’s legendary career,” said CEO Daniel Earle.
<a href="https://www.kitco.com/news/2020-05-07/-World-s-Best-Mine-Finder-passes-at-92.html">Lowell passed in May</a>.