TORONTO, Feb. 24, 2021 /CNW/ - Adventus Mining
Corporation ("Adventus") (TSXV: ADZN) (OTCQX:
ADVZF) and Salazar Resources Limited
("Salazar") (TSXV: SRL) (OTCQB:
SRLZF) (collectively the "Partners") are pleased to
announce continued infill drilling results from the El Domo
volcanogenic massive sulphide deposit located within the
21,537-hectare Curipamba project in central Ecuador. Infill drilling for the ongoing
feasibility study continues at El Domo with two diamond drill rigs
having completed 36 infill definition drill holes totaling 3,908
metres from the planned 4,960 metres, and one drill hole in
progress totaling a further 35 metres completed and the other drill
rig moving to a new platform.
Highlights – Drill Results from the El Domo Deposit at
Curipamba:
- CURI-355 intersected 22.06 metres of 3.61% copper, 3.06 g/t
gold, 7.86% zinc, 90.1 g/t silver and 0.22% lead for 9.14% CuEq –
including 2.92 metres of 17.93% copper, 6.52 g/t gold, 42.72% zinc,
287.5 g/t silver, and 0.03% lead for 39.12% CuEq
- CURI-354 intersected 8.33 metres of 4.77% copper, 7.14 g/t
gold, 25.79% zinc, 91.5 g/t silver, and 0.73% lead for 19.01% CuEq
– including 5.26 metres of 6.74% copper, 10.92 g/t gold, 34.66%
zinc, 135.2 g/t silver and 1.15% lead for 26.91% CuEq
- CURI-352 intersected 21.09 metres of 3.32% copper, 2.66 g/t
gold, 0.42% zinc, 19.9 g/t silver, and 0.07% lead for 5.41% CuEq. –
including 5.09 metres of 7.58% copper, 2.50 g/t gold, 1.38% zinc,
33.0 g/t silver and 0.22% lead for 10.05% CuEq
Christian Kargl-Simard, President
and CEO of Adventus, commented: "We are making excellent progress
on the drilling required for the El Domo feasibility study and
environmental and social impact assessment process, with six drill
rigs currently active. We expect this drilling to be completed in
March, which supports our project development timeline for El Domo.
These drill results continue to confirm the quality of the mineral
resource model, ahead of estimating maiden mineral reserves at El
Domo as part of the feasibility study expected in the fourth
quarter of 2021."
Drill hole CURI-352 intersected fine-grained sediments in the
immediate hanging wall of the massive sulphide from 47.18 to 48.21
metres, grading 1.40% copper, 1.49 g/t gold, 0.71% zinc, 26.3 g/t
silver, and 0.07% lead (2.89% CuEq). Massive sulphide
mineralization was intersected from 48.21 to 69.30 metres, grading
3.32% copper, 2.66 g/t gold, 0.42% zinc, 19.9 g/t silver and 0.07%
lead (5.41% CuEq). A higher-grade subset occurs from 48.21 to 53.30
metres, grading 7.58% copper, 2.50 g/t gold, 1.38% zinc, 33.0 g/t
silver, and 0.22% lead (10.05% CuEq).
Drill
Hole
|
From
(m)
|
To
(m)
|
Thickness
(m)
|
Cu
(%)
|
Au
(g/t)
|
Zn
(%)
|
Ag
(g/t)
|
Pb
(%)
|
CuEq
(1)
(%)
|
Approx. True
Thickness (m)
|
CURI-352
|
47.18
|
48.21
|
1.03
|
1.40
|
1.49
|
0.71
|
26.3
|
0.07
|
2.89
|
0.88
|
|
48.21
|
69.30
|
21.09
|
3.32
|
2.66
|
0.42
|
19.9
|
0.07
|
5.41
|
17.93
|
Including
|
48.21
|
53.30
|
5.09
|
7.58
|
2.50
|
1.38
|
33.0
|
0.22
|
10.05
|
4.33
|
Including
|
48.21
|
49.20
|
0.99
|
5.83
|
5.89
|
5.87
|
118.8
|
1.07
|
13.05
|
0.84
|
(1)
|
Metal equivalency
based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn,
US$27.18/oz Ag and US$0.97/lb Pb; noting that no adjustments were
made in the metal equivalency calculation for metal recovery.
Prices taken from 6-month contracts for precious metals and 3-month
contracts for base metals from the London Metal Exchange, dated
February 19, 2021.
|
CURI-353 intersected well-mineralized grainstone with massive
sulphide clasts in the immediate hanging wall of the massive
sulphide from 68.45 to 79.87 metres, however, it was intruded by a
barren basaltic dyke. The upper intercept in the grainstone
occurred from 68.45 to 70.47 metres, grading 1.92% copper, 4.66 g/t
gold, 2.50% zinc, 71.5 g/t silver, and 0.33% lead (6.57% CuEq),
which was followed by a second intercept that occurred from 75.46
to 79.87 metres grading, 0.64% copper, 3.61 g/t gold, 6.43% zinc,
148.3 g/t silver, and 0.70% lead (6.12% CuEq). A subset of
higher-grade grainstone occurs at the base of the unit from 78.90
to 79.87 metres, grading 0.44% copper, 10.70 g/t gold, 22.48% zinc,
510.0 g/t silver, and 1.99% lead (20.40% CuEq). The massive
sulphide mineralization was broken up by faulting and intercalated
strong gypsum alteration replacing felsic volcaniclastic rocks. The
first intercept of massive sulphide mineralization was from 79.87
to 80.87 metres, grading 0.68% copper, 6.68 g/t gold, 12.90% zinc,
110.9 g/t silver, and 0.27% lead (10.46% CuEq). The second
intercept of massive sulphide mineralization was from 90.80 to
93.00 metres, grading 3.07% copper, 1.26 g/t gold, 2.48% zinc, 47.3
g/t silver and 0.03% lead (5.19% CuEq). The third and final
intercept of massive sulphide mineralization was from 100.48 to
102.40 metres, grading 1.47% copper, 1.62 g/t gold, 2.29% zinc,
49.4 g/t silver, and 0.03% lead (3.78% CuEq).
Drill
Hole
|
From
(m)
|
To
(m)
|
Thickness
(m)
|
Cu
(%)
|
Au
(g/t)
|
Zn
(%)
|
Ag
(g/t)
|
Pb
(%)
|
CuEq
(1)
(%)
|
Approx. True
Thickness (m)
|
CURI-353
|
68.45
|
70.47
|
2.02
|
1.92
|
4.66
|
2.50
|
71.5
|
0.33
|
6.57
|
1.31
|
|
75.46
|
79.87
|
4.41
|
0.64
|
3.61
|
6.43
|
148.3
|
0.70
|
6.12
|
2.87
|
Including
|
78.90
|
79.87
|
0.97
|
0.44
|
10.70
|
22.48
|
510.0
|
1.99
|
20.40
|
0.63
|
|
79.87
|
80.87
|
1.00
|
0.68
|
6.68
|
12.90
|
110.9
|
0.27
|
10.46
|
0.65
|
|
90.80
|
93.00
|
2.20
|
3.07
|
1.26
|
2.48
|
47.3
|
0.03
|
5.19
|
1.43
|
|
100.48
|
102.40
|
1.92
|
1.47
|
1.62
|
2.29
|
49.4
|
0.03
|
3.78
|
1.25
|
(1)
|
Metal equivalency
based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn,
US$27.18/oz Ag and US$0.97/lb Pb; noting that no adjustments were
made in the metal equivalency calculation for metal recovery.
Prices taken from 6-month contracts for precious metals and 3-month
contracts for base metals from the London Metal Exchange, dated
February 19, 2021.
|
CURI-354 intersected two massive sulphide horizons below a
narrow section of mineralized fine-grained sediments in the
immediate hanging wall of the massive sulphide mineralization. The
sediments were intersected from 49.04 to 49.95 metres, grading
0.14% copper, 1.31 g/t gold, 0.86% zinc, 34.7 g/t silver, and 0.16%
lead (1.66% CuEq). The first occurrence of massive sulphide
mineralization was intersected from 49.95 to 56.04 metres, grading
3.33% copper, 2.66 g/t gold, 4.21% zinc, 38.1 g/t silver and 0.06%
lead (6.84% CuEq). A subset of higher-grade massive sulphide
mineralization was intersected from 49.95 to 51.26 metres, grading
7.31% copper, 5.25 g/t gold, 8.36% zinc, 109.8 g/t silver, and
0.21% lead (14.63% CuEq). The second occurrence of massive sulphide
mineralization was intersected from 63.00 to 71.33 metres, grading
4.77% copper, 7.14 g/t gold, 25.79% zinc, 91.5 g/t silver, and
0.73% lead (19.01% CuEq). A subset of higher-grade massive sulphide
mineralization was intersected from 63.00 to 68.26 metres, grading
6.74% copper, 10.92 g/t gold, 34.66% zinc, 135.2 g/t silver, and
1.15% lead (26.91% CuEq).
Drill
Hole
|
From
(m)
|
To
(m)
|
Thickness
(m)
|
Cu
(%)
|
Au
(g/t)
|
Zn
(%)
|
Ag
(g/t)
|
Pb
(%)
|
CuEq
(1)
(%)
|
Approx. True
Thickness (m)
|
CURI-354
|
49.04
|
49.95
|
0.91
|
0.14
|
1.31
|
0.86
|
34.7
|
0.16
|
1.66
|
0.73
|
|
49.95
|
56.04
|
6.09
|
3.33
|
2.66
|
4.21
|
38.1
|
0.06
|
6.84
|
4.87
|
Including
|
49.95
|
51.26
|
1.31
|
7.31
|
5.25
|
8.36
|
109.8
|
0.21
|
14.63
|
1.05
|
|
63.00
|
71.33
|
8.33
|
4.77
|
7.14
|
25.79
|
91.5
|
0.73
|
19.01
|
6.66
|
Including
|
63.00
|
68.26
|
5.26
|
6.74
|
10.92
|
34.66
|
135.2
|
1.15
|
26.91
|
4.21
|
(1)
|
Metal equivalency
based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn,
US$27.18/oz Ag and US$0.97/lb Pb; noting that no adjustments were
made in the metal equivalency calculation for metal recovery.
Prices taken from 6-month contracts for precious metals and 3-month
contracts for base metals from the London Metal Exchange, dated
February 19, 2021.
|
CURI-355 intersected mineralized grainstone with massive
sulphide clasts in the hanging wall of the massive sulphide
mineralization from 53.15 to 54.13 metres, grading 0.35% copper,
0.34 g/t gold, 0.48% zinc, 10.9 g/t silver, and 0.01% lead (0.84%
CuEq). Massive sulphide mineralization was intersected from 55.67
to 77.73 metres, grading 3.61% copper, 3.06 g/t gold, 7.86% zinc,
90.1 g/t silver, and 0.22% lead (9.14% CuEq). Two subsets of
higher-grade massive sulphide mineralization were intersected from
55.67 to 57.57 metres, grading 8.98% copper, 18.89 g/t gold, 15.48%
zinc, 401.5 g/t silver, and 1.07% lead (30.67% CuEq); and 68.75 to
71.67 metres, grading 17.93% copper, 6.52 g/t gold, 42.72% zinc,
287.5 g/t silver, and 0.03% lead (39.12% CuEq). In the footwall of
the massive sulphide mineralization, a very strongly altered and
replaced unit of gypsum was intersected from 77.73 to 78.70 metres,
grading 3.48% copper, 2.64 g/t gold, 8.10% zinc, and 58.7 g/t
silver (8.45% CuEq).
Drill
Hole
|
From
(m)
|
To
(m)
|
Thickness
(m)
|
Cu
(%)
|
Au
(g/t)
|
Zn
(%)
|
Ag
(g/t)
|
Pb
(%)
|
CuEq
(1)
(%)
|
Approx. True
Thickness (m)
|
CURI-355
|
53.15
|
54.13
|
0.98
|
0.35
|
0.34
|
0.48
|
10.9
|
0.01
|
0.84
|
0.83
|
|
55.67
|
77.73
|
22.06
|
3.61
|
3.06
|
7.86
|
90.1
|
0.22
|
9.14
|
18.75
|
Including
|
55.67
|
57.57
|
1.90
|
8.98
|
18.89
|
15.48
|
401.5
|
1.07
|
30.67
|
1.62
|
Including
|
68.75
|
71.67
|
2.92
|
17.93
|
6.52
|
42.72
|
287.5
|
0.03
|
39.12
|
2.48
|
|
77.73
|
78.70
|
0.97
|
3.48
|
2.64
|
8.10
|
58.7
|
0.00
|
8.45
|
0.82
|
(1)
|
Metal equivalency
based on US$3.97/lb Cu, US$1,779.50/oz Au, US$1.31/lb Zn,
US$27.18/oz Ag and US$0.97/lb Pb; noting that no adjustments were
made in the metal equivalency calculation for metal recovery.
Prices taken from 6-month contracts for precious metals and 3-month
contracts for base metals from the London Metal Exchange, dated
February 19, 2021.
|
All results from the current infill definition drilling program
will be used to update the Mineral Resource estimate for the El
Domo deposit in 2021. The updated Mineral Resource estimate will be
part of the ongoing feasibility study for the development of the El
Domo deposit (see December 2, 2020
news release).
Figure 1 illustrates the drill locations for the four drill hole
results outlined in this news release and the holes currently in
the assay lab, or in progress. Drill collar location coordinates
are summarized for the infill and geomechanical drilling programs
in Table 1 at the end of this news release.
For reference, the last NI 43-101 Mineral Resource estimate for
El Domo was published as part of the preliminary economic
assessment report titled: "Technical Report on the Preliminary
Economic Assessment for the Curipamba Project – El Domo Deposit,
Central Ecuador", with an
effective date of June 14, 2019 on
SEDAR.
Technical Information and Quality Control & Quality
Assurance ("QAQC")
The Curipamba project work program is
being managed and reviewed by Vice President Exploration,
Jason Dunning, M.Sc., P.Geo., a
Qualified Person within the meaning of NI 43-101. Salazar staff
collect and process samples that are securely sealed and shipped to
Bureau Veritas ("BV") in Quito for
sample preparation that includes crushing and milling to prepare
pulps that are then split for shipment to their facility in
Lima, Peru for analysis. All assay
data have undergone internal validation of QAQC; noting there is an
established sampling control program with blind insertion of assay
blanks, certified industry standards and sample duplicates for the
Curipamba project. A QAQC program is also in place at BV and
includes insertion of blanks, standards, and duplicate reanalysis
of selected samples. BV's quality system complies with the
requirements for the International Standards ISO 9001:2000 and ISO
17025: 1999. At BV, gold is analyzed by classic fire assay
techniques with an AAS finish, while silver and base metals are
analyzed by a 44-element aqua regia technique with ICP-AES finish.
Overlimit protocols are in place for gold, silver, copper, lead,
and zinc.
Qualified Person
The technical information of this
news release has been reviewed and verified as accurate by Mr.
Jason Dunning, M.Sc., P.Geo., Vice
President Exploration for Adventus, a non-Independent Qualified
Person, as defined by NI 43-101.
About Adventus
Adventus Mining Corporation is an
Ecuador focused copper-gold
exploration and development company. Its strategic shareholders
include Altius Minerals Corporation, Greenstone Resources LP,
Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is advancing the El Domo
copper-gold project through a feasibility study, while exploring
the broader Curipamba district. In addition, Adventus is engaged in
a country-wide exploration alliance with its partners in
Ecuador, which has incorporated
the Pijili and Santiago
copper-gold porphyry projects to date. Adventus also controls an
exploration project portfolio in Ireland with South32 Limited as funding
partner as well as an investment portfolio of equities in several
exploration companies. Adventus is based in Toronto, Canada, and is listed on the TSX
Venture Exchange under the symbol ADZN and trades on the OTCQX
under the symbol ADVZF.
About Salazar
Salazar Resources Limited is focused on
creating value and positive change through discovery, exploration,
and development in Ecuador. The
team has an unrivalled understanding of the geology in-country and
has played an integral role in the discovery of many of the major
projects in Ecuador, including the
two newest operating gold and copper mines. Salazar Resources has a
wholly owned pipeline of copper-gold exploration projects across
Ecuador with a strategy to make
another commercial discovery and farm-out non-core assets. The
Company actively engages with Ecuadorian communities and together
with the Salazar family it co-founded The Salazar Foundation, an
independent non-profit organization dedicated to sustainable
progress through economic development. The Company already
has carried interests in three projects. At its maiden discovery,
Curipamba, Salazar Resources has a 25% stake fully carried through
to production. At two copper-gold porphyry projects, Pijili
and Santiago, the Company has a
20% stake fully carried through to a construction decision.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This press release contains "forward -looking information"
within the meaning of applicable Canadian securities laws. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
identified by words or phrases such as "believes", "anticipates",
"expects", "is expected", "scheduled", "estimates", "pending",
"intends", "plans", "forecasts", "targets", or "hopes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "will",
"should" "might", "will be taken", or "occur" and similar
expressions) are not statements of historical fact and may be
forward-looking statements.
Forward-looking information herein includes, but is not limited
to, statements that address activities, events, or developments
that Adventus and Salazar expect or anticipate will or may occur in
the future. Although Adventus and Salazar have attempted to
identify important factors that could cause actual actions, events,
or results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated, or
intended. There can be no assurance that such information will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. Adventus and Salazar undertake to
update any forward-looking information except in accordance with
applicable securities laws.
Table 1: Drill Collar Information for Infill Drill Holes at
El Domo
Hole
ID
|
EAST
|
NORTH
|
ELEV
|
AZIMUTH
|
DIP
|
DEPTH
|
COMMENT
|
CURI-379
|
695094
|
9855482
|
940
|
167
|
-48
|
N/A
|
In
Progress
|
CURI-378
|
695054
|
9855122
|
893
|
181
|
-57
|
N/A
|
In
Progress
|
CURI-377
|
695054
|
9855122
|
893
|
55
|
-51
|
92.3
|
Successfully
completed per design
|
CURI-376(1)
|
695361
|
9855100
|
1087
|
270
|
-70
|
275.4
|
Successfully
completed per design
|
CURI-375(1)
|
695333
|
9855200
|
1057
|
270
|
-75
|
250.1
|
Successfully
completed per design
|
CURI-374
|
695006
|
9855134
|
883
|
296
|
-45
|
120.6
|
Successfully
completed per design
|
CURI-373
|
695094
|
9855482
|
940
|
103
|
-48
|
197.0
|
Successfully
completed per design
|
CURI-372
|
695041
|
9854913
|
888
|
38
|
-45
|
106.3
|
Successfully
completed per design
|
CURI-371(1)
|
695399
|
9855298
|
1016
|
270
|
-65
|
225.7
|
Successfully
completed per design
|
CURI-370
|
695040
|
9854913
|
888
|
231
|
-74
|
86.2
|
Successfully
completed per design
|
CURI-369
|
695094
|
9855482
|
940
|
142
|
-48
|
168.7
|
Successfully
completed per design
|
CURI-368
|
695041
|
9854913
|
888
|
331
|
-58
|
113.6
|
Successfully
completed per design
|
CURI-367
|
695006
|
9855134
|
883
|
196
|
-45
|
102.2
|
Successfully
completed per design
|
CURI-366
|
694975
|
9854918
|
872
|
186
|
-72
|
74.5
|
Successfully
completed per design
|
CURI-365
|
694934
|
9855242
|
874
|
151
|
-72
|
69.5
|
Successfully
completed per design
|
CURI-364-A
|
695131
|
9855402
|
946
|
108
|
-60
|
121.8
|
Successfully
completed per design
|
CURI-364
|
695134
|
9855402
|
946
|
108
|
-60
|
130.4
|
Successfully
completed per design
|
CURI-363
|
694934
|
9855242
|
874
|
180
|
-54
|
95.0
|
Successfully
completed per design
|
CURI-362
|
694975
|
9854918
|
872
|
288
|
-61
|
88.9
|
Successfully
completed per design
|
CURI-361
|
695134
|
9855402
|
946
|
75
|
-54
|
172.8
|
Successfully
completed per design
|
CURI-360
|
694934
|
9855242
|
874
|
25
|
-48
|
83.0
|
Successfully
completed per design
|
CURI-359
|
695006
|
9855134
|
883
|
349
|
-69
|
86.5
|
Successfully
completed per design
|
CURI-358
|
694934
|
9855082
|
867
|
255
|
-54
|
113.0
|
Successfully
completed per design
|
CURI-357
|
695057
|
9855149
|
894
|
229
|
-74
|
105.0
|
Successfully
completed per design
|
CURI-356
|
695006
|
9855134
|
883
|
241
|
-77
|
110.6
|
Successfully
completed per design
|
CURI-355
|
695057
|
9855149
|
894
|
36
|
-45
|
86.3
|
Successfully
completed per design
|
CURI-354
|
695057
|
9855149
|
894
|
55
|
-54
|
81.0
|
Successfully
completed per design
|
CURI-353
|
695094
|
9855122
|
908
|
192
|
-45
|
97.4
|
Successfully
completed per design
|
CURI-352
|
695057
|
9855149
|
894
|
306
|
-77
|
78.0
|
Successfully
completed per design
|
CURI-351
|
695057
|
9855149
|
894
|
338
|
-59
|
77.0
|
Successfully
completed per design
|
CURI-350
|
695094
|
9855122
|
908
|
180
|
-57
|
85.7
|
Successfully
completed per design
|
CURI-349
|
695094
|
9855122
|
908
|
263
|
-51
|
130.2
|
Successfully
completed per design
|
CURI-348
|
695094
|
9855082
|
910
|
276
|
-45
|
135.1
|
Successfully
completed per design
|
CURI-347
|
695094
|
9855082
|
910
|
105
|
-54
|
91.0
|
Successfully
completed per design
|
CURI-346
|
695094
|
9855082
|
910
|
52
|
-69
|
83.4
|
Successfully
completed per design
|
CURI-345
|
695094
|
9855082
|
910
|
142
|
-48
|
95.7
|
Successfully
completed per design
|
CURI-344
|
695094
|
9855082
|
910
|
360
|
-60
|
84.1
|
Successfully
completed per design
|
CURI-343
|
695094
|
9855082
|
910
|
192
|
-45
|
142.0
|
Successfully
completed per design
|
CURI-342
|
695041
|
9854913
|
888
|
346
|
-45
|
137.1
|
Successfully
completed per design
|
CURI-341
|
695134
|
9854922
|
917
|
360
|
-60
|
117.4
|
Successfully
completed per design
|
CURI-340
|
695134
|
9854922
|
917
|
360
|
-45
|
149.0
|
Successfully
completed per design
|
Notes:
|
|
(1)
|
Geomechanical drill
hole for open pit engineering design purposes only; being drilled
in addition to the Infill program
|
(2)
|
All drill holes are
surveyed in UTM Datum (Provisional South American 1956, Zone
17)
|
Figure 1: Drill Collar Location Map for Drill Holes at El
Domo
SOURCE Adventus Mining Corporation