TORONTO, June 1, 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 ("El Domo") located within
the 21,537-hectare Curipamba project in central Ecuador.
Highlights – Drill Results from the El Domo Deposit at
Curipamba:
- CURI-373 intersected 67.00 metres of 3.38% copper, 1.11 g/t
gold, 0.41% zinc, 15.8 g/t silver, and 0.06% lead for 4.35% copper
equivalent ("CuEq") – including 9.11 metres of 11.65% copper, 2.41
g/t gold, 0.16% zinc, 44.7 g/t silver, and 0.03% lead for 13.58%
CuEq
- CURI-374 intersected 5.56 metres of 2.32% copper, 15.37 g/t
gold, 21.91% zinc, 403.0 g/t silver, and 3.09% lead for 22.58% CuEq
– including 3.46 metres of 3.38% copper, 24.25 g/t gold, 34.44%
zinc, 641.2 g/t silver, and 4.79% lead for 35.35% CuEq
Drill hole CURI-372 intersected semi-massive sulphide from 70.78
to 72.57 metres, grading 0.78% copper, 8.60 g/t gold, 7.84% zinc,
590.4 g/t silver, and 3.29% lead (14.45% CuEq). A section of
mineralized footwall felsic autoclastic volcanic rocks was
intersected from 72.57 to 78.78 metres, grading 0.13% copper, 1.41
g/t gold, 1.80% zinc, and 45.5 g/t silver and 0.33% lead (2.01%
CuEq). Deeper in the mineralized footwall felsic volcanic rocks
additional semi-massive to massive sulphide mineralization was
intersected from 86.10 to 95.00 metres, grading 2.65% copper, 0.80
g/t gold, 1.46% zinc, 12.4 g/t silver and 0.04% lead (3.70% CuEq).
A higher-grade subset was intersected from 87.75 to 89.81 metres,
grading 6.71% copper, 0.44 g/t gold, 2.58% zinc, 17.9 g/t silver,
and 0.01% lead (7.91% 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-372
|
70.78
|
72.57
|
1.79
|
0.78
|
8.60
|
7.84
|
590.4
|
3.29
|
14.45
|
1.52
|
|
72.57
|
78.78
|
6.21
|
0.13
|
1.41
|
1.80
|
45.5
|
0.33
|
2.01
|
5.28
|
|
86.10
|
95.00
|
8.90
|
2.65
|
0.80
|
1.46
|
12.4
|
0.04
|
3.70
|
7.57
|
Including
|
87.75
|
89.81
|
2.06
|
6.71
|
0.44
|
2.58
|
17.9
|
0.01
|
7.91
|
1.75
|
|
|
(1)
|
Metal equivalency
based on US$4.48/lb Cu, US$1,886.30/oz Au, US$1.33/lb Zn,
US$27.81/oz Ag and US$0.98/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 May
25, 2021.
|
CURI-373 intersected semi-massive to massive sulphide
mineralization was intersected from 102.00 to 169.00 metres,
grading 3.38% copper, 1.11 g/t gold, 0.41% zinc, 15.8 g/t silver
and 0.06% lead (4.35% CuEq). Three higher-grade subsets occur in
this intercept, from 103.08 to 108.13 metres, 123.80 to 153.12
metres, and then from 133.39 to 142.50 metres. The first intercept
is semi-massive sulphide mineralization grading 6.01% copper, 1.59
g/t gold, 1.53% zinc, 26.1 g/t silver and 0.14% lead (7.70% CuEq).
The second intercept is massive sulphide mineralization grading
6.21% copper, 1.70 g/t gold, 0.15% zinc, 22.4 g/t silver and 0.04%
lead (7.51% CuEq) and the third intercept is also massive sulphide
mineralization grading, 11.65% copper, 2.41 g/t gold, 0.16% zinc,
44.7 g/t silver, and 0.03% lead (13.58% CuEq). A section of
mineralized footwall felsic autoclastic volcanic rocks was
intersected from 169.00 to 176.40 metres, grading 0.06% copper,
0.27 g/t gold, 0.41% zinc, and 9.2 g/t silver and 0.07% lead (0.45%
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-373
|
102.00
|
169.00
|
67.00
|
3.38
|
1.11
|
0.41
|
15.8
|
0.06
|
4.35
|
50.25
|
including
|
103.08
|
108.13
|
5.05
|
6.01
|
1.59
|
1.53
|
26.1
|
0.14
|
7.70
|
3.79
|
including
|
123.80
|
153.12
|
29.32
|
6.21
|
1.70
|
0.15
|
22.4
|
0.04
|
7.51
|
21.99
|
including
|
133.39
|
142.50
|
9.11
|
11.65
|
2.41
|
0.16
|
44.7
|
0.03
|
13.58
|
6.83
|
|
169.00
|
176.40
|
7.40
|
0.06
|
0.27
|
0.41
|
9.2
|
0.07
|
0.45
|
5.55
|
|
|
(1)
|
Metal equivalency
based on US$4.48/lb Cu, US$1,886.30/oz Au, US$1.33/lb Zn,
US$27.81/oz Ag and US$0.98/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 May
25, 2021.
|
Drill hole CURI-374 intersected semi-massive sulphide from 92.54
to 98.10 metres, grading 2.32% copper, 15.37 g/t gold, 21.91% zinc,
403.0 g/t silver, and 3.09% lead (22.58% CuEq). A higher-grade
subset was intersected from 92.54 to 96.00 metres, grading 3.38%
copper, 24.25 g/t gold, 34.44% zinc, 641.2 g/t silver, and 4.79%
lead (35.35% CuEq). A wide section of mineralized footwall felsic
autoclastic volcanic rocks was intersected from 98.10 to 120.60
metres, grading 0.13% copper, 0.13 g/t gold, 1.19% zinc, and 4.6
g/t silver and 0.03% lead (0.61% 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-374
|
92.54
|
98.10
|
5.56
|
2.32
|
15.37
|
21.91
|
403.0
|
3.09
|
22.58
|
4.17
|
including
|
92.54
|
96.00
|
3.46
|
3.38
|
24.25
|
34.44
|
641.2
|
4.79
|
35.35
|
2.60
|
|
98.10
|
120.60
|
22.50
|
0.13
|
0.13
|
1.19
|
4.6
|
0.03
|
0.61
|
16.88
|
|
|
(1)
|
Metal equivalency
based on US$4.48/lb Cu, US$1,886.30/oz Au, US$1.33/lb Zn,
US$27.81/oz Ag and US$0.98/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 May
25, 2021.
|
CURI-381 intersected massive sulphide mineralization from 123.16
to 127.21 metres, grading 3.13% copper, 0.59 g/t gold, 0.33% zinc,
30.6 g/t silver and 0.05% lead (3.88% CuEq). A higher-grade subset
occurs from 124.20 to 126.33 metres, grading 4.34% copper, 0.65 g/t
gold, 0.05% zinc, 33.5 g/t silver and 0.02% lead (5.06% 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-381
|
123.16
|
127.21
|
4.05
|
3.13
|
0.59
|
0.33
|
30.6
|
0.05
|
3.88
|
2.63
|
including
|
124.20
|
126.33
|
2.13
|
4.34
|
0.65
|
0.05
|
33.5
|
0.02
|
5.06
|
1.38
|
|
|
(1)
|
Metal equivalency
based on US$4.48/lb Cu, US$1,886.30/oz Au, US$1.33/lb Zn,
US$27.81/oz Ag and US$0.98/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 May
25, 2021.
|
All results from the completed infill definition drilling
program are to be used in updating the Mineral Resource estimate
for El Domo in 2021. The updated Mineral Resource estimate will be
part of the ongoing feasibility study for the development of the El
Domo (see December 2, 2020 news
release). Figure 1 illustrates the drill locations for the results
of the four 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 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.
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