TORONTO, June 15, 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 its final infill drilling results from the El Domo
volcanogenic massive sulphide deposit ("El Domo") located within
the 21,537-hectare Curipamba project in central Ecuador. All results from the completed infill
definition drilling program are being used to update the Mineral
Resource estimate for El Domo, which will serve as the basis of the
ongoing El Domo feasibility study with completion expected in the
fourth quarter of 2021.
Highlights – Drill Results from the El Domo Deposit at
Curipamba:
- CURI-385 intersected 9.06 metres of 3.25% copper, 19.08 g/t
gold, 30.56% zinc, 242.5 g/t silver, and 3.19% lead for 26.78% CuEq
– including 3.48 metres of 2.37% copper, 35.13 g/t gold, 39.51%
zinc, 470.7 g/t silver, and 7.50% lead for 41.22% CuEq
- CURI-382 intersected 30.86 metres of 2.05% copper, 0.92 g/t
gold, 0.16% zinc, 9.2 g/t silver, and 0.02% lead for 2.74% copper
equivalent ("CuEq") – including 3.81 metres of 6.56% copper, 1.48
g/t gold, 0.07% zinc, 13.4 g/t silver, and 0.02% lead for 7.60%
CuEq
Drill hole CURI-382 intersected a thick section of massive
sulphide from 92.95 to 123.81 metres, grading 2.05% copper, 0.92
g/t gold, 0.16% zinc, 9.2 g/t silver, and 0.02% lead (2.74% CuEq).
Two higher-grade subsets were intersected from 92.95 to 96.69 and
120.00 to 123.81 metres, respectively. The first interval graded
3.77% copper, 1.60 g/t gold, 0.47% zinc, 21.7 g/t silver, and 0.08%
lead (5.08% CuEq) and the second interval graded 6.56% coper, 1.48
g/t gold, 0.07% zinc, 14.1 g/t silver, and 0.02% lead (7.60%
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-382
|
92.95
|
123.81
|
30.86
|
2.05
|
0.92
|
0.16
|
9.2
|
0.02
|
2.74
|
27.77
|
including
|
92.95
|
96.69
|
3.74
|
3.77
|
1.60
|
0.47
|
21.7
|
0.08
|
5.08
|
3.37
|
including
|
92.95
|
93.90
|
0.95
|
9.13
|
3.67
|
1.36
|
66.8
|
0.29
|
12.40
|
0.86
|
including
|
120.00
|
123.81
|
3.81
|
6.56
|
1.48
|
0.07
|
13.4
|
0.02
|
7.60
|
3.43
|
including
|
122.00
|
122.96
|
0.96
|
10.79
|
1.01
|
0.05
|
14.1
|
0.02
|
11.55
|
0.86
|
(1)
|
Metal equivalency
based on US$4.56/lb Cu, US$1,879.20/oz Au, US$1.37/lb Zn, US$28.02
/oz Ag and US$1.00/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 June 11,
2021.
|
CURI-384 intersected mineralized grainstone with massive
sulphide clasts in the immediate hanging wall of the massive
sulphide mineralization, grading 0.06% copper, 0.62 g/t gold, 0.56%
zinc, 50.3 g/t silver and 0.24% lead (1.10% CuEq). A thin
interval of massive sulphide mineralization was intersected from
86.93 to 87.54 metres, grading 1.46% copper, 25.90 g/t gold, 21.76%
zinc, 686.0 g/t silver and 9.32% lead (31.76% CuEq). A section of
mineralized footwall felsic autoclastic volcanic rocks was
intersected from 87.54 to 95.60 metres, grading 0.13% copper, 0.28
g/t gold, 1.29% zinc, and 12.1 g/t silver and 0.12% lead (0.82%
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-384
|
86.00
|
86.93
|
0.93
|
0.06
|
0.62
|
0.56
|
50.3
|
0.24
|
1.10
|
0.74
|
|
86.93
|
87.54
|
0.61
|
1.46
|
25.90
|
21.76
|
686.0
|
9.32
|
31.76
|
0.49
|
|
87.54
|
95.60
|
8.06
|
0.13
|
0.28
|
1.29
|
12.1
|
0.12
|
0.82
|
6.49
|
(1)
|
Metal equivalency
based on US$4.56/lb Cu, US$1,879.20/oz Au, US$1.37/lb Zn, US$28.02
/oz Ag and US$1.00/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 June 11,
2021.
|
Drill hole CURI-385 intersected mineralized fine-grained
sediments in the immediate hanging wall of the massive sulphide
mineralization from 85.85 to 90.48 metres, grading 0.07% copper,
1.40 g/t gold, 0.75% zinc, 27.3 g/t silver, and 0.10% lead (1.41%
CuEq). Massive sulphide mineralization was intersected from 90.48
to 99.54 metres, grading 3.25% copper, 19.08 g/t gold, 30.56% zinc,
242.5 g/t silver, and 3.19% lead (26.78% CuEq). A higher-grade
subsection occurs from 90.48 to 93.96 metres, grading 2.37% copper,
35.13 g/t gold, 39.51% zinc, 470.7 g/t silver and 7.50% lead
(41.22% CuEq). A section of mineralized footwall felsic autoclastic
volcanic rocks was intersected from 99.54 to 106.47 metres, grading
0.13% copper, 0.40 g/t gold, 1.25% zinc, and 4.8 g/t silver and
0.02% lead (0.79% 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-385
|
85.85
|
90.48
|
4.63
|
0.07
|
1.40
|
0.78
|
27.3
|
0.10
|
1.41
|
4.40
|
|
90.48
|
99.54
|
9.06
|
3.25
|
19.08
|
30.56
|
242.5
|
3.19
|
26.78
|
8.61
|
including
|
90.48
|
93.96
|
3.48
|
2.37
|
35.13
|
39.51
|
470.7
|
7.50
|
41.22
|
3.31
|
|
99.54
|
106.47
|
6.93
|
0.13
|
0.40
|
1.25
|
4.8
|
0.02
|
0.79
|
6.58
|
(1)
|
Metal equivalency
based on US$4.56/lb Cu, US$1,879.20/oz Au, US$1.37/lb Zn, US$28.02
/oz Ag and US$1.00/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 June 11,
2021.
|
Drill holes CURI-386, CURI-387, and CURI-389 were designed were
designed to test the outer margins of the Indicated category
material and to further assess the pit wall geology. These drill
holes confirmed modelling previously done along the margins of the
deposit and provide excellent geological control for future
modelling studies. Both CURI-386 and CURI-387 intersected low-grade
sections of footwall mineralized felsic autoclastic volcanic rocks
73.06 to 82.49 and 80.60 to 85.40 metres, respectively. CURI-386
graded 0.13% copper, 0.78 g/t gold, 0.30% zinc, 17.3 g/t silver and
0.09% lead (0.86% CuEq) for an approximate true thickness of 6.13
metres and CURI-387 graded 0.02% copper, 0.30 g/t gold, 0.13% zinc,
10.4 g/t silver and 0.03% lead (0.34% CuEq) for an approximate true
thickness of 4.56 metres. CURI-389 did not yield any significant
results.
All results from the completed infill definition drilling
program are being used to update the Mineral Resource estimate for
El Domo, which will serve as the basis of the ongoing feasibility
study for the development of El Domo (see December 2, 2020 news release). Figure 1
illustrates the drill locations for the results of the six drill
holes outlined in this news release. 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 Mineral Resource estimate completed in
accordance with NI 43-101 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 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, samples from the El Domo
infill drilling have gold 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. For regional
drilling, silver and base metals are analyzed by a 45-element 4
acid technique with ICP-MS 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.
Please also visit the Adventus website at www.adventusmining.com
and LinkedIn page at
https://www.linkedin.com/company/adventus-mining-corporation
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