11:10 AM EDT, 07/09/2024 (MT Newswires) -- Solaris Resources ( SLSR ) on Tuesday reported the latest drill results from its 2024 drill program at the Warintza project in Ecuador.

Results include 148 meters of 0.72% copper equivalent within a broader interval of 325 meters of 0.51% copper equivalent from surface and remains open in strong mineralization, with the final 34 meters averaging 0.90% copper equivalent.

Solaris said it recently expanded its 2024 drill program to 60,000 meters, with 27,000 meters completed at the end of June.

An updated mineral resource estimate is expected to be released this month.

National Bank maintained its outperform rating and $8.50 price target following the news.

The bank said in a Tuesday note its rating is based on Warintza's large-scale/near-surface resource, attractive project economics and management's track record of generating shareholder value.

Solaris shares were last seen down $0.04 to $3.97 on the Toronto Stock Exchange.

Price: 3.97, Change: -0.04, Percent Change: -1.00