Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 45.00% Copper Equivalent Over 4.22 Metres Grading 19.11% Copper, 24.36 G/t Gold, 10.93% Zinc, 309.5 G/t Silver and 0.83% Lead
TORONTO, Dec. 30, 2020 /CNW/ - Adventus Mining Corporation ("Adventus") (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSX-V: SRL) (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 continues at El Domo with two diamond drill rigs at site. In the current program, a total of 15 infill definition drill holes having been successfully completed totaling 1,573 metres from the planned 4,960 metres, with two drill holes currently in progress totaling a further 119.20 metres completed.
Highlights
- CURI-344 intersected 6.14 metres of 14.91% copper, 21.02 g/t gold, 10.39% zinc, 255.3 g/t silver, and 0.75% lead for 37.48% CuEq. – including 4.22 metres of 19.11% copper, 24.36 g/t gold, 10.93% zinc, 309.5 g/t silver and 0.83% lead for 45.00% CuEq.
- CURI-343 intersected 1.50 metres of 2.45% copper, 9.09 g/t gold, 12.01% zinc, 211.7 g/t silver, and 1.96% lead for 16.38% CuEq. – including 0.60 metres of 4.68% copper, 21.30 g/t gold, 28.11% zinc, 491.0 g/t silver and 4.79% lead for 37.30% CuEq.
- CURI-342 intersected 1.90 metres of 3.04% copper, 16.41 g/t gold, 17.94% zinc, 181.2 g/t silver, and 2.23% lead for 24.41% CuEq.
Figure 1 outlines the drill locations for the three 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 drilling program in Table 1 at the end of this news release.
Drill hole CURI-342 intersected a narrow section of high-grade copper and gold-rich massive sulphide mineralization from 95.60 to 97.50 metres, grading 3.04% copper, 16.41 g/t gold, 17.94% zinc, 181.2 g/t silver and 2.23% lead (24.41% CuEq). Stratigraphically beneath the massive sulphide is a well mineralized felsic autobreccia in the footwall rocks intersected from 97.50 to 107.50 metres, grading 0.49% copper, 0.26 g/t gold, 0.41% zinc, 9.6 g/t silver and 0.05% lead (0.69% CuEq). This includes a higher-grade subset from 97.50 to 99.50 metres, grading 1.26% copper, 0.61 g/t gold, 1.18% zinc, 24.1 g/t silver and 0.17% lead (2.44% 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-342 |
95.60 |
97.50 |
1.90 |
3.04 |
16.41 |
17.94 |
181.2 |
2.23 |
24.41 |
1.50 |
97.50 |
107.50 |
10.00 |
0.49 |
0.26 |
0.41 |
9.6 |
0.05 |
0.69 |
8.00 |
|
including |
97.50 |
99.50 |
2.00 |
1.26 |
0.61 |
1.18 |
24.1 |
0.17 |
2.44 |
1.60 |
(1) |
Metal equivalency based on US$3.62/lb Cu, US$1,888.80/oz Au, US$1.30/lb Zn, US$25.95/oz Ag and US$0.93/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 December 18, 2020. |
CURI-343 intersected a well-mineralized fine-grained tuffaceous volcaniclastic in the hanging wall of the massive sulphide mineralization from 99.38 to 101.90 metres, grading 0.84% copper, 1.92 g/t gold, 2.67% zinc, 37.0 g/t silver, and 0.10% lead (3.67% CuEq). The massive sulphide mineralization was intersected from 101.90 to 103.40 metres, grading 2.45% copper, 9.09 g/t gold, 12.01% zinc, 211.7 g/t silver, and 1.96% lead (16.38% CuEq). A higher-grade subset was intersected from 101.90 to 102.50 metres, grading 4.68% copper, 21.30 g/t gold, 28.11% zinc, 491.0 g/t silver, and 4.79% lead (37.30% 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-343 |
99.38 |
101.90 |
2.52 |
0.84 |
1.92 |
2.67 |
37.0 |
0.10 |
3.67 |
1.64 |
including |
99.38 |
100.80 |
1.42 |
1.41 |
3.14 |
4.34 |
54.8 |
0.09 |
5.94 |
0.92 |
101.90 |
103.40 |
1.50 |
2.45 |
9.09 |
12.01 |
211.7 |
1.96 |
16.38 |
0.98 |
|
including |
101.90 |
102.50 |
0.60 |
4.68 |
21.30 |
28.11 |
491.0 |
4.79 |
37.30 |
0.39 |
(1) |
Metal equivalency based on US$3.62/lb Cu, US$1,888.80/oz Au, US$1.30/lb Zn, US$25.95/oz Ag and US$0.93/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 December 18, 2020. |
CURI-344 intersected a well-mineralized grainstone in the hanging wall of the massive sulphide mineralization from 57.32 to 62.26 metres, grading 5.60% copper, 8.99 g/t gold, 4.02% zinc, 151.0 g/t silver, and 0.56% lead (15.60% CuEq). The high-grade massive sulphide mineralization was intersected from 62.26 to 68.40 metres, grading 14.91% copper, 21.02 g/t gold, 10.39% zinc, 255.3 g/t silver, and 0.75% lead (37.48% CuEq). A higher-grade subset was intersected from 62.26 to 66.48 metres, grading 19.11% copper, 24.36 g/t gold, 10.93% zinc, 309.5 g/t silver, and 0.83% lead (45.00% CuEq). At the base of the high-grade massive sulphide is a narrow intercept of semi-massive sulphide mineralization from 68.40 to 70.12 metres, grading 0.31% copper, 0.81 g/t gold, 3.11% zinc, 9.0 g/t silver and 0.01% lead (2.14% CuEq). Stratigraphically beneath the massive sulphide in CURI-344 is a well mineralized felsic autobreccia in the footwall rocks intersected from 70.12 to 80.13 metres, grading 0.61% copper, 0.74 g/t gold, 0.27% zinc, 4.1 g/t silver and 0.01% lead (1.31% CuEq). This includes a higher-grade subset from 72.93 to 75.89 metres, grading 1.81% copper, 1.53 g/t gold, 0.83% zinc, 7.9 g/t silver and 0.01% lead (3.36% 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-344 |
57.32 |
62.26 |
4.94 |
5.60 |
8.99 |
4.02 |
151.0 |
0.56 |
15.60 |
4.45 |
62.26 |
68.40 |
6.14 |
14.91 |
21.02 |
10.39 |
255.3 |
0.75 |
37.48 |
5.53 |
|
including |
62.26 |
66.48 |
4.22 |
19.11 |
24.36 |
10.93 |
309.5 |
0.83 |
45.00 |
3.80 |
68.40 |
70.12 |
1.72 |
0.31 |
0.81 |
3.11 |
9.0 |
0.01 |
2.14 |
1.55 |
|
70.12 |
80.13 |
10.01 |
0.61 |
0.74 |
0.27 |
4.1 |
0.01 |
1.31 |
9.01 |
|
including |
72.93 |
75.89 |
2.96 |
1.81 |
1.53 |
0.83 |
7.9 |
0.01 |
3.36 |
2.66 |
(1) |
Metal equivalency based on US$3.62/lb Cu, US$1,888.80/oz Au, US$1.30/lb Zn, US$25.95/oz Ag and US$0.93/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 December 18, 2020. |
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).
For reference, the last 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 a unique copper-gold exploration and development company, focused primarily on Ecuador. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is leading the exploration and engineering advancement of the Curipamba copper-gold project in Ecuador as part of an earn-in agreement to obtain a 75% ownership interest. 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 projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 as funding partner as well as an investment portfolio of equities in several junior 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 (SRL.V) (CCG.F) 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 in News Release 20-22
Hole ID |
EAST |
NORTH |
ELEV |
AZIMUTH |
DIP |
DEPTH |
COMMENT |
CURI-356 |
695006 |
985512 |
883 |
241 |
-77 |
N/A |
In Progress |
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 |
N/A |
In Progress |
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 |
Note: UTM Datum (Provisional South American 1956, Zone 17) |
Figure 1: Drill Collar Location Map for Drill Holes at El Domo in News Release 20-23
SOURCE Adventus Mining Corporation
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 the company's LinkedIn page at https://www.linkedin.com/company/adventus-mining-corporation; For further information from Salazar, please contact [email protected]
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