ADVENTUS AND SALAZAR ANNOUNCE ADDITIONAL EL DOMO UNDERGROUND DEPOSIT DRILLING RESULTS INCLUDING 14 METRES OF 4.44% COPPER EQUIVALENT
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Adventus Mining Corporation Mar 20, 2023, 09:44 ET
TORONTO, March 20, 2023 /CNW/ - Adventus Mining Corporation ("Adventus") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQB: SRLZF) (collectively the "Participants") are pleased to announce additional infill drilling results from the underground portion of 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:
Figure 1: Drill Collar Location Map for El Domo (CNW Group/Adventus Mining Corporation)
El Domo Core Photo - CURI-412 (2023 03 20) (CNW Group/Adventus Mining Corporation)
CURI-412 intersected a 14-metre interval of massive sulphide from a depth of 200.27 to 214.46 metres, grading 3.13% copper, 0.79 g/t gold, 4.02% zinc, 27.9 g/t silver for a 4.44% copper equivalent ("CuEq") - including a 1.18 metre interval between 200.27 to 201.45 metres, grading 5.25% copper, 1.3 g/t gold, 2.74% zinc, and 147.2 g/t silver for a 6.69% CuEqCURI-415 intersected a 5.3-metre interval of massive sulphide from 201.78 to 207.1 metres, grading 3.37% Cu, 1.87 g/t Au, 1.32% Zn, 10.2 g/t silver and 0.01%Pb for a 4.09% CuEq
Drill hole CURI-412 intersected a thick section of massive sulphide from 200.27 to 214.46 metres, grading 3.13% copper, 0.79 g/t gold, 4.02% zinc, 27.9 g/t silver – including a 1.18 metre subset from 200.27 to 201.45 metres with 5.25% copper, 1.31 g/t gold, 2.74% zinc, and 147.2 g/t silver. The highest gold and zinc values are on the upper part of the massive sulphide but the copper values continue down to 214.46 metres.
Drill Hole
| From
(m)
| To
(m)
| Thickness
(m)
| Cu
(%)
| Au
(g/t)
| Zn
(%)
| Ag
(g/t)
| Pb
(%)
| Copper
Equivalency
(%) (1) (2)
| Approx. True
Thickness (m)
| CURI-412
| 200.27
| 214.46
| 14.19
| 3.13
| 0.79
| 4.02
| 27.9
| 0.00
| 4.44
| 13.71
| including
| 200.27
| 201.45
| 1.18
| 5.25
| 1.31
| 2.74
| 147.2
| 0.00
| 6.69
| 1.13
|
(1)
| Metal equivalency based on US$4.00/lb Cu, US$1,886.20/oz Au, US$1.36/lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.
| (2)
| Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".
|
Drill hole CURI-413 intersected a massive sulphide section from 191.11 to 193.48 metres grading 5.06% copper, 0.80 g/t gold, 1.18% zinc, 9.3 g/t silver and 0.01% lead. The mineralization is present in the form of large clasts within a dacite breccia possibly due to replacement. It is an eastern continuation to the mineralization of the historical CURI-160 which had nearly 11 metres of massive sulfide.
Drill Hole
| From
(m)
| To
(m)
| Thickness
(m)
| Cu
(%)
| Au
(g/t)
| Zn
(%)
| Ag
(g/t)
| Pb
(%)
| Copper
Equivalency
(%)(1) (2)
| Approx. True
Thickness (m)
| CURI-413
| 191.11
| 193.48
| 2.37
| 5.06
| 0.80
| 1.18
| 9.3
| 0.01
| 4.29
| 2.26
|
(1)
| Metal equivalency based on US$4.00/lb Cu, US$1,886.20/oz Au, US$1.36/lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.
| (2)
| Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".
|
Drill hole CURI-414 intersected a section of semi-massive and massive sulphide separated by a low-grade fault zone, all between 192.95 to 204.55 metres grading 1.10% copper, 0.51 g/t gold, 0.5% zinc, 19.5 g/t silver and 0.01% lead. The lower 0.94 metre is high-grade copper, grading 7.45% copper, 0.82 g/t gold, 5.47%zinc, 78.3 g/t silver, and 0.09% lead. This drill hole is an extension of the mineralization in the eastern portion of the underground resource.
Drill Hole
| From
(m)
| To
(m)
| Thickness
(m)
| Cu
(%)
| Au
(g/t)
| Zn
(%)
| Ag
(g/t)
| Pb
(%)
| Copper
Equivalency
(%) (1) (2)
| Approx. True
Thickness (m)
| CURI-414
| 192.95
| 204.55
| 11.6
| 1.10
| 0.51
| 0.50
| 19.5
| 0.01
| 1.40
| 11.09
| including
| 203.61
| 204.55
| 0.94
| 7.45
| 0.82
| 5.47
| 78.3
| 0.09
| 8.93
| 0.89
|
(1)
| Metal equivalency based on US$4.00/lb Cu, US$1,886.20/oz Au, US$1.36/lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.
| (2)
| Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".
|
Drill hole CURI-415 intersected a massive sulphide section from 201.78 to 207.1 metres, grading 3.37% copper, 1.87 g/t gold, 1.32% zinc, 10.2 g/t silver and 0.01% lead. The upper 4 metres are gold rich, and the bottom 3 metres are copper rich. This intersection is 25 metres away from nearby mineralization on historical holes CURI-166 and CURI-236.
Drill Hole
| From
(m)
| To
(m)
| Thickness
(m)
| Cu
(%)
| Au
(g/t)
| Zn
(%)
| Ag
(g/t)
| Pb
(%)
| Copper
Equivalency
(%)(1) (2)
| Approx. True
Thickness (m)
| CURI-415
| 201.78
| 207.1
| 5.32
| 3.37
| 1.87
| 1.32
| 10.2
| 0.01
| 4.09
| 4.82
|
(1)
| Metal equivalency based on US$4.00/lb Cu, US$1,886.20/oz Au, US$1.36/lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.
| (2)
| Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".
|
Drill hole CURI-418 intersected a semi massive sulphide section, mostly pyritic, interval from 178.4 to 181.8 metres grading 0.88% copper, 2.85 g/t gold, 0.40% zinc, 20.4 g/t silver and 0.02% lead. This intercept is located at 50 metres from the closest pierce-point and the interpreted east boundary of the resource, thus adding an important mineralized control point.
Drill Hole
| From
(m)
| To
(m)
| Thickness
(m)
| Cu
(%)
| Au
(g/t)
| Zn
(%)
| Ag
(g/t)
| Pb
(%)
| Copper
Equivalency
(%)(1) (2)
| Approx. True
Thickness (m)
| CURI-418
| 178.4
| 181.8
| 3.4
| 0.88
| 2.85
| 0.40
| 20.4
| 0.02
| 2.07
| 3.31
|
(1)
| Metal equivalency based on US$4.00/lb Cu, US$1,886.20/oz Au, US$1.36/lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.
| (2)
| Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".
|
Drill hole CURI- 419 intersected a semi-massive sulphide section from 194.36 to 198.03 metres, grading 1.57% copper, 0.76 g/t gold, 0.30% zinc, 9.00 g/t silver and 0.03% lead. It also intersected a mineralized stockwork on the basal gypsum alteration which is characteristic of this area of the resource. This interval is from 200.08 to 203.61 metres grading 1.82% copper, 0.22 g/t gold, 0.06% Zn, and 3.6 g/t silver.
Drill Hole
| From
(m)
| To
(m)
| Thickness
(m)
| Cu
(%)
| Au
(g/t)
| Zn
(%)
| Ag
(g/t)
| Pb
(%)
| Copper
Equivalency
(%)(1) (2)
| Approx. True
Thickness (m)
| CURI-419
| 194.36
| 198.03
| 3.67
| 1.57
| 0.76
| 0.30
| 9.0
| 0.03
| 1.39
| 3.44
|
| 200.08
| 203.61
| 3.53
| 1.82
| 0.22
| 0.06
| 3.6
| 0.00
| 1.49
| 3.32
|
(1)
| Metal equivalency based on US$4.00/lb Cu, US$1,886.20/oz Au, US$1.36/lb Zn, US$22.06/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 17, 2023.
| (2)
| Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".
|
CURI-416 was designed to test an area with low density of drill holes towards the east of the underground resources. It intersected a low-grade mineralized interval in the footwall but did not yield any substantial results.
CURI-417 tested the eastern boundaries of the inferred resource defined on the El Domo resource DRA 2021. It intercepted the footwall with a hydrothermal breccia with no significant mineralization.
All results from the infill drilling program are to be used in updating the underground portion of the Mineral Resource estimate for El Domo, which will be part of a future feasibility study that will integrate the development a potential underground operation in addition to the planned open pit (see August 29, 2022 news release). Figure 1 illustrates the drill locations for the results of the eight drill holes outlined in this news release. Drill collar location coordinates are summarized for the infill drilling program 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 Feasibility Study report titled: "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador", with an effective date of October 26, 2021 on SEDAR.
Technical Information and QAQC
The El Domo and Curipamba project work program is being reviewed by Senior Geologist, Christian Paramo, 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 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 regional drilling have silver and base metals analyzed by a modified ore grade 24-element aqua regia technique with ICP-ES finish. Gold is analyzed by fire assay fusion with AAS 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. Christian Paramo, P.Geo., Senior Geologist 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. Adventus Mining is majority 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 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 the funding participant. 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.
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. 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.
Table 1: Drill Collar Information for Infill Drill Holes at El Domo
Hole ID
| EAST
| NORTH
| ELEV
| AZIMUTH
| DIP
| DEPTH
| COMMENT
| CURI-419
| 695494
| 9855286
| 1027
| 296
| -70
| 230.10
| Successfully completed per design
| CURI-418
| 695459
| 9855361
| 1017
| 303
| -78
| 224.95
| Successfully completed per design
| CURI-417
| 695494
| 9855286
| 1027
| 151
| -70
| 269.40
| Successfully completed per design
| CURI-416
| 695494
| 9855286
| 1027
| 180
| -73
| 262.80
| Successfully completed per design
| CURI-415
| 695459
| 9855361
| 1017
| 317
| -66
| 245.85
| Successfully completed per design
| CURI-414
| 695440
| 9855274
| 1028
| 164
| -73
| 221.30
| Successfully completed per design
| CURI-413
| 695454
| 9855407
| 1025
| 165
| -75
| 237.60
| Successfully completed per design
| CURI-412
| 695440
| 9855274
| 1028
| 203
| -75
| 269.40
| Successfully completed per design
| CURI-411
| 695177
| 9855005
| 929
| 69
| -69
| 176.00
| Successfully completed per design
| CURI-410
| 695440
| 9855274
| 1028
| 210
| -65
| 314.30
| Successfully completed per design
| CURI-409
| 695400
| 9855298
| 1017
| 301
| -71
| 264.25
| Successfully completed per design
| CURI-408
| 695400
| 9855298
| 1017
| 127
| -69
| 243.60
| Successfully completed per design
| CURI-407
| 695431
| 9855413
| 1007
| 12
| -62
| 203.00
| Successfully completed per design
| CURI-406
| 695269
| 9855341
| 1000
| 270
| -78
| 221.15
| Successfully completed per design
| CURI-405
| 695431
| 9855413
| 1007
| 317
| -69
| 247.60
| Successfully completed per design
| CURI-404
| 695309
| 9855341
| 1000
| 210
| -67
| 286.90
| Successfully completed per design
| CURI-403
| 695181
| 9855413
| 1007
| 331
| -62
| 257.15
| Successfully completed per design
| CURI-402
| 695400
| 9855298
| 1017
| 239
| -79
| 245.30
| Successfully completed per design
| CURI-401
| 695375
| 9855400
| 996
| 238
| -73
| 224.00
| Successfully completed per design
| CURI-400
| 695400
| 9855298
| 1017
| 237
| -67
| 284.10
| Successfully completed per design
| CURI-399
| 695375
| 9855400
| 996
| 41
| -65
| 212.25
| Successfully completed per design
| CURI-398
| 695400
| 9855298
| 1017
| 196
| -71
| 272.00
| Successfully completed per design
| CURI-397
| 695271
| 9855452
| 985
| 178
| -81
| 208.80
| Successfully completed per design
| CURI-396
| 695394
| 9855668
| 957
| 252
| -68
| 179.45
| Successfully completed per design
| CURI-395
| 695349
| 9855650
| 972
| 151
| -64
| 211.50
| Successfully completed per design
| CURI-394
| 695436
| 9855590
| 980
| 241
| -73
| 216.30
| Successfully completed per design
| CURI-393
| 695394
| 9855668
| 957
| 159
| -72
| 96.00
| Successfully completed per design
| CURI-392
| 695395
| 9855600
| 994
| 122
| -65
| 224.95
| Successfully completed per design
|
Notes:
| (1)
| All drill holes are surveyed in UTM Datum (Provisional South American 1956, Zone 17)
|
SOURCE Adventus Mining Corporation
 For further information: from Adventus Mining, please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or christian@adventusmining.com. Please also visit the Adventus Mining website at www.adventusmining.com; For further information from Salazar Resources, please contact Merlin Marr-Johnson, Executive Vice President, at +1 604 685 9316 or merlin@salazarresources.com. Please also visit the Salazar Resources website at www.salazarresources.com.
|
