11:09 AM EDT, 04/23/2024 (MT Newswires) -- Solaris Resources ( SLSR ) reported Tuesday the first results from its 2024 drilling program at the Warintza project in Ecuador.

Highlights include 150 meters of 0.67% copper equivalent within 384 meters of 0.51% copper equivalent and 284 meters of 0.53% copper equivalent.

The company said exploration drilling is underway at the Patrimonio area while regional exploration programs at the Caya epithermal gold target are ongoing.

Solaris plans to complete 30 kilometers of drilling in 2024, while it is on track for 5,200 meters in April with six rigs now in operation.

Meanwhile, Solaris maintained its "Outperform" rating and C$8.50 price target from National Bank of Canada.

The bank said its rating for Solaris reflects Warintza's large-scale/near-surface resource, attractive project economics and management's track record of generating shareholder value.

National Bank said it awaits further assays from the Patrimonio area before ascribing value to the new zone.

The company's shares were last seen up C$0.11 to C$4.51 on the Toronto Stock Exchange.

Price: 4.51, Change: +0.11, Percent Change: +2.50