Adventus Mining and Salazar Engage Invert Inc. to Help Achieve a Net-Zero Carbon Footprint and Optimize Climate Change Strategies for the Curipamba Copper-Gold Project in Ecuador
TORONTO, March 23, 2022 /CNW/ - Adventus Mining Corporation ("Adventus Mining") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQX: SRLZF) (collectively the "Participants") are pleased to announce a new partnership with Invert Inc. ("Invert") focused on developing a greener future for the Curipamba project and its stakeholders in central Ecuador ("Curipamba"). Globally and not just in the Americas, Curipamba is one of the highest grade and lowest capital intensity copper-gold projects and is also expected to have lowest-quartile greenhouse gas ("GHG") emissions intensity during future operations. The project's carbon footprint is expected to directly benefit from the planned connection to the national power grid, which is already 80% supplied by hydro-electric sources, and proximity to deep water ports. Adventus Mining and Salazar seek to build upon these strengths by developing a robust decarbonization roadmap and climate change policy from active project to future operations.
The partnership will see Adventus Mining and Salazar, together with Invert, develop a pathway and set targets towards a True Net Zero mining future – covering Scope 1, 2 and ultimately Scope 3 GHG emissions. The pathway will involve setting GHG emissions reduction targets based on science-based methodologies. This partnership will build upon the robust ESG program and environmental licensing process that are already underway at Curipamba. Key partnership deliverables are expected to include:
- Emissions inventory and forecast, including life-of-mine model that will categorize scopes and activity types
- Identification and quantification of emissions reduction strategies, by review of relevant technologies, target setting, and carbon risk management – including unique advantages and opportunities in Ecuador
- Incorporate recommended GHG reduction initiatives that are in alignment with corporate and project objectives
President & CEO of Adventus Mining, Christian Kargl-Simard stated: "Copper is an essential part of the green energy transition and global decarbonization efforts. It is increasingly evident that as an aspiring producer, we have the responsibility and opportunity to align the Curipamba project with Ecuador's global climate change contributions. We are pleased to partner with Invert on this endeavour and look forward to providing more detailed updates as this strategy is developed and implemented."
Andre Fernandez, Co-CEO of Invert stated: "Invert is thrilled to partner with Adventus Mining as a trusted partner to achieve ambitious decarbonization targets that will make an impact to their stakeholders. We have deep technical expertise in mining, decarbonization, and climate change strategy – all of which will be leveraged to enhance Adventus Mining's ESG goals in the years to come."
The Curipamba Project is located in central Ecuador approximately 150 km northeast of the major port city of Guayaquil and comprises of seven mineral concessions representing approximately 21,500 hectares (215 km2) in a setting of low-lying hills and plains between 300 to 900 metres above sea level. Curipamba contains the high-grade copper-gold dominant El Domo VMS deposit.
The Feasibility Study included the first estimate of mineral reserves (open pit) and updated the total estimate of mineral resources (open pit and underground). Please refer to Adventus Mining's October 26, 2021 news release for the summary of Feasibility Study results – link. The complete Feasibility Study NI 43-101 Technical Report is available on SEDAR – dated December 10, 2021. Also in 2021, Adventus Mining and Salazar completed and submitted a detailed Environmental and Social Impact Assessment ("ESIA") report as part of the formal stakeholder consultation and environmental licensing process with the Government of Ecuador for future construction and operation of the Curipamba Project. Please refer to Adventus Mining's November 18, 2021 news release for additional details – link.
Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and development company. Adventus Mining is 75%-owner of the 215 sq. km Curipamba copper-gold project, which has a completed feasibility study on the shallow and high-grade El Domo deposit. In addition, Adventus Mining is engaged in a country-wide exploration alliance with its partner in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Outside of Ecuador, Adventus Mining owns an exploration project portfolio in Ireland with South32 Limited as funding partner. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus Mining 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.
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.
Invert operates at the core of the carbon reduction ecosystem, from financing the removal of carbon from our atmosphere via high quality carbon offset projects to empowering businesses and individuals on their emissions reduction journeys. Invert invests in carbon credit projects that produce high quality, meaningful carbon reduction and removal credits that we believe will help save our world. By selling these credits on to individuals or businesses, we are able to generate revenue that lets us make even more investments into projects that reduce or remove CO2 from the atmosphere. We work directly with businesses to help them understand the carbon footprint of their operations and reduce the Scope 1, 2 and 3 emissions that they generate.
We are also creating a place where individuals can go to learn about what they can do themselves to address the giant problem of climate change. We want to help individuals understand their own impact on the world and give them a chance to support projects that reduce greenhouse gas emissions. We want every individual to be carbon neutral, and we want them to get there in an engaging manner with rich content and community. We are an ambitious group of experts, entrepreneurs, scientists and engineers who have come together with a common purpose: to give individuals and businesses the tools, information, and insight they need to make a meaningful impact on climate change. Please visit our website for more information: https://join.invert.world/.
This press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. Forward-looking statements are based on the beliefs, expectations, and opinions of the management of the Participants as of the date the statement is published, and the Participants assume no obligation to update any forward-looking statement, except as required by law. In certain cases, forward–looking statements can be identified by the use of words such as "plans", "expects", "outlook", "guidance", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology.
Forward-looking information herein includes, but is not limited to, statements that address activities, events, or developments that Adventus Mining and Salazar expect or anticipate will or may occur in the future. Although Adventus Mining 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 Mining and Salazar undertake to update any forward-looking information except in accordance with applicable securities laws.
Please also visit the Adventus Mining website at www.adventusmining.com.
Please also visit the Salazar Resources website at www.salazarresources.com.
SOURCE Adventus Mining Corporation
Adventus Mining, please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or [email protected]; Salazar Resources, please contact Merlin Marr-Johnson, Executive Vice President, at +1 604 685 9316 or [email protected].
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