TORONTO, April 14, 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 additional infill drilling results from the El Domo volcanogenic massive sulphide deposit located within the 21,537-hectare Curipamba project in central Ecuador.
Highlights – Drill Results from the El Domo Deposit at Curipamba:
Adventus Drill Hole: CURI 370 - 31.45% copper equivalent (2.26% copper, 21.59 g/t gold, 36.64% zinc, 414.8 g/t silver, and 2.03% lead at 62.10 metres (pictured) (CNW Group/Adventus Mining Corporation)
Adventus Drill Hole: CURI 370 - 31.45% copper equivalent (2.26% copper, 21.59 g/t gold, 36.64% zinc, 414.8 g/t silver, and 2.03% lead at 59.90 metres (pictured) (CNW Group/Adventus Mining Corporation)
CURI-369 intersected 42.52 metres of 1.46% copper, 2.43 g/t gold, 0.48% zinc, 13.7 g/t silver, and 0.05% lead for 3.26% copper equivalent ("CuEq") – including 5.29 metres of 7.92% copper, 12.95 g/t gold, 2.98% zinc, 60.4 g/t silver, and 0.22% lead for 17.53% CuEq
CURI-368 intersected 2.93 metres of 6.42% copper, 6.36 g/t gold, 30.18% zinc, 168.4 g/t silver, and 0.86% lead for 21.59% CuEq
CURI-370 intersected 2.74 metres of 2.26% copper, 21.59 g/t gold, 36.64% zinc, 414.8 g/t silver, and 2.03% lead for 31.45% CuEq
Drill hole CURI-366 intersected semi-massive to massive sulphide mineralization from 54.40 to 55.76 metres, grading 5.20% copper, 8.03 g/t gold, 13.85% zinc, 426.5 g/t silver and 1.89% lead (18.82% CuEq). A section of mineralized footwall felsic autoclastic volcanic rocks was intersected from 55.76 to 57.73 metres, grading 0.28% copper, 0.69 g/t gold, 0.94% zinc, 21.9 g/t silver, and 0.12% lead (1.23% 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-366
54.40
55.76
1.36
5.20
8.03
13.85
426.5
1.89
18.82
0.95
55.76
57.73
1.97
0.28
0.69
0.94
21.9
0.12
1.23
1.38
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/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 April 6, 2021.
CURI-367 intersected a narrow section of semi-massive to massive sulphide mineralization from 81.20 to 83.92 metres, grading 0.09% copper, 1.19 g/t gold, 1.22% zinc, 133.5 g/t silver and 0.64% lead (2.56% CuEq). A section of mineralized footwall felsic autoclastic volcanic rocks was intersected from 83.92 to 91.95 metres, grading 0.08% copper, 0.28 g/t gold, 0.81% zinc, 17.9 g/t silver, and 0.48% lead (0.78% 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-367
81.20
83.92
2.72
0.09
1.19
1.22
133.5
0.64
2.56
1.77
83.92
91.95
8.03
0.08
0.28
0.81
17.9
0.48
0.78
5.22
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/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 April 6, 2021.
CURI-368 intersected mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the massive sulphide from 79.45 to 81.54 metres, grading 0.07% copper, 0.14 g/t gold, 0.20% zinc, 5.1 g/t silver, and 0.03% lead (0.27% CuEq). A mineralized fine-grained sediment unit occurred directly in the hanging wall of the massive sulphide mineralization from 81.54 to 83.19 metres, grading 0.30% copper, 9.75 g/t gold, 3.54% zinc, 144.1 g/t silver and 1.31% lead (9.09% CuEq). The massive sulphide mineralization was intersected from 83.19 to 86.12 metres, grading 6.42% copper, 6.36 g/t gold, 30.18% zinc, 168.4 g/t silver, and 0.86% lead (21.59% CuEq). A section of mineralized footwall felsic autoclastic volcanic rocks was intersected from 86.12 to 88.12 metres, grading 0.39% copper, 0.29 g/t gold, 0.83% zinc, 17.7 g/t silver, and 0.08% lead (1.01% 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-368
79.45
81.54
2.09
0.07
0.14
0.20
5.1
0.03
0.27
1.67
81.54
83.19
1.65
0.30
9.75
3.54
144.1
1.31
9.09
1.32
83.19
86.12
2.93
6.42
6.36
30.18
168.4
0.86
21.59
2.34
86.12
88.12
2.00
0.39
0.29
0.83
17.7
0.08
1.01
1.60
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/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 April 6, 2021.
CURI-369 was an attempted re-drill of CURI-364, however, it was also terminated in the same fault zone. It intersected mineralized grainstone in the hanging wall of the massive sulphide mineralization from 106.00 to 107.11 metres, grading 0.46% copper, 1.66 g/t gold, 0.59% zinc, 11.2 g/t silver and 0.06% lead (1.80% CuEq). Massive sulphide mineralization was intersected from 107.11 to 149.63 metres, grading 1.46% copper, 2.43 g/t gold, 0.48% zinc, 13.7 g/t silver and 0.05% lead (3.26% CuEq). A higher-grade subset occurs from 107.11 to 112.40 metres, grading 7.92% copper, 12.95 g/t gold, 2.98% zinc, 60.4 g/t silver and 0.22% lead (17.53% CuEq). A section of mineralized footwall felsic autoclastic volcanic rocks was intersected from 149.63 to 153.51 metres, grading 0.10% copper, 0.36 g/t gold, 0.03% zinc, and 9.6 g/t silver (0.42% 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-369
106.00
107.11
1.11
0.46
1.66
0.59
11.2
0.06
1.80
0.83
107.11
149.63
42.52
1.46
2.43
0.48
13.7
0.05
3.26
31.89
including
107.11
112.40
5.29
7.92
12.95
2.98
60.4
0.22
17.53
3.97
149.63
153.51
3.88
0.10
0.36
0.03
9.6
0.00
0.42
2.91
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/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 April 6, 2021.
CURI-370 intersected mineralized grainstone in the hanging wall of the massive sulphide mineralization from 55.52 to 58.07 metres, grading 0.04% copper, 0.85 g/t gold, 2.65% zinc, 68.7 g/t silver, and 1.02% lead (2.24% CuEq). Massive sulphide mineralization was intersected from 59.50 to 62.24 metres, grading 2.26% copper, 21.59 g/t gold, 36.64% zinc, 414.8 g/t silver, and 2.03% lead (31.45% CuEq). Two sections of mineralized footwall felsic autoclastic volcanic rocks were intersected from 62.24 to 65.50 metres and 79.65 to 82.54 metres. The first intercept graded 0.16% copper, 0.54 g/t gold, 1.16% zinc, and 16.2 g/t silver, and 0.06% lead (1.03% CuEq) and the second intercept graded 1.13% copper, 0.08 g/t gold, 0.05% zinc, and 3.6 g/t silver (1.23% 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-370
55.52
58.07
2.55
0.04
0.85
2.65
68.7
1.02
2.24
1.66
59.50
62.24
2.74
2.26
21.59
36.64
414.8
2.03
31.45
1.78
62.24
65.50
3.26
0.16
0.54
1.16
16.2
0.06
1.03
2.12
79.65
82.54
2.89
1.13
0.08
0.05
3.6
0.00
1.23
1.88
(1) Metal equivalency based on US$4.07/lb Cu, US$1,743.80/oz Au, US$1.28/lb Zn, US$25.17/oz Ag and US$0.89/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 April 6, 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 results of the five drill holes 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 or Vancouver, Canada 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.
For further information from Salazar, please contact [email protected].
Table 1: Drill Collar Information for Infill Drill Holes at El Domo
Hole ID
EAST
NORTH
ELEV
AZIMUTH
DIP
DEPTH
COMMENT
CURI-391
655001
9854898
882
165
-65
70.6
Successfully completed per design
CURI-390
695109
9855451
953
170
-79
137.7
Successfully completed per design
CURI-389
694999
9855351
908
338
-70
64.5
Successfully completed per design
CURI-388
695051
9855474
930
165
-50.6
143.0
Successfully completed per design
CURI-387
695051
9855474
930
26
-49
112.3
Successfully completed per design
CURI-386
695100
9855600
943
230
-65
90.2
Successfully completed per design
CURI-385
695094
9855482
940
45
-54
128.0
Successfully completed per design
CURI-384
695054
9855642
923
136
-54
110.6
Successfully completed per design
CURI-383(1)
695373
9855400
995
270
-65
210.4
Successfully completed per design
CURI-382
695094
9855482
940
64
-48
156.5
Successfully completed per design
CURI-381
695214
9855602
949
197
-57
154.4
Successfully completed per design
CURI-380(1)
695375
9855000
1030
270
-70
250.1
Successfully completed per design
CURI-379
695094
9855482
940
167
-48
153.8
Successfully completed per design
CURI-378
695054
9855122
893
181
-57
113.1
Successfully completed per design
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
Successful but lost in fault zone
CURI-364
695134
9855402
946
108
-60
130.4
Successful but lost in fault zone
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)
SOURCE Adventus Mining Corporation
For further information from Adventus, please contact: Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or [email protected]; Please also visit the Adventus website at www.adventusmining.com and LinkedIn page at https://www.linkedin.com/company/adventus-mining-corporation; For further information from Salazar, please contact [email protected].
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