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
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SOURCE Adventus Mining Corporation