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Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 13.61% Copper Equivalent Over 16.96 Metres

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Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (TSXV: SRL) (OTCQB: SRLZF)  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 with 30 infill definition drill holes having been successfully completed totaling 3,137 metres from the planned 4,960 metres, and two drill holes in progress totaling a further 192 metres completed.

 

Highlights – Drill Results from the El Domo Deposit at Curipamba:

 

  • CURI-349 intersected 16.96 metres of 7.11% copper, 5.44 g/t gold, 3.38% zinc, 107.6 g/t silver, and 0.34% lead for 13.61% CuEq. – including 3.01 metres of 11.97% copper, 8.09 g/t gold, 3.88% zinc, 134.3 g/t silver and 0.15% lead for 20.88% CuEq
  • CURI-350 intersected 12.79 metres of 3.99% copper, 4.76 g/t gold, 1.97% zinc, 129.2 g/t silver, and 0.17% lead for 9.70% CuEq – including 2.44 metres of 10.34% copper, 12.57 g/t gold, 7.26% zinc, 620.1 g/t silver and 0.79% lead for 29.28% CuEq
  • CURI-351 intersected 16.36 metres of 5.42% copper, 3.76 g/t gold, 0.46% zinc, 34.6 g/t silver, and 0.03% lead for 8.81% CuEq – including 2.06 metres of 17.62% copper, 20.03 g/t gold, 2.67% zinc, 196.7 g/t silver and 0.15% lead for 35.83% CuEq

 

Drill hole CURI-349 intersected well mineralized grainstone with massive sulphide clasts in the hanging wall of the massive sulphide mineralization from 65.60 to 85.34 metres, grading 0.19% copper, 0.35 g/t gold, 0.69% zinc, 12.1 g/t silver, and 0.09% lead (0.84% CuEq).  A higher-grade subset was intersected from 82.08 to 85.34 metres, grading 0.79% copper, 0.98 g/t gold, 1.63% zinc, 51.7 g/t silver, and 0.46% lead (2.77% CuEq). Massive sulphide mineralization was intersected from 92.06 to 109.02 metres, grading 7.11% copper, 5.44 g/t gold, 3.38% zinc, 107.6 g/t silver and 0.34% lead (13.61% CuEq). A higher-grade subset occurs from 96.13 to 99.14 metres, grading 11.97% copper, 8.09 g/t gold, 3.88% zinc, 134.3 g/t silver, and 0.15% lead (20.88% CuEq). Beneath the massive sulphide mineralization, mineralized footwall felsic autoclastic volcaniclastic rocks were intersected from 123.41 to 125.36 metres, grading 0.70% copper, 0.11 g/t gold, 0.05% zinc, 1.9 g/t silver (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-349 65.6 85.34 19.74 0.19 0.35 0.69 12.1 0.09 0.84 14.81
Including 82.08 85.34 3.26 0.79 0.98 1.63 51.7 0.46 2.77 2.45
92.06 109.02 16.96 7.11 5.44 3.38 107.6 0.34 13.61 12.72
including 96.13 99.14 3.01 11.97 8.09 3.88 134.3 0.15 20.88 2.26
123.41 125.36 1.95 0.70 0.11 0.05 1.9 0.00 0.82 1.46
(1) Metal equivalency based on US$3.55/lb Cu, US$1,835.80/oz Au, US$1.18/lb Zn, US$26.79/oz Ag and US$0.92/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 February 3, 2021.

 

CURI-350 intersected well mineralized grainstone with massive sulphide clasts in the hanging wall of the massive sulphide mineralization from 51.40 to 54.21 metres, grading 4.11% copper, 7.63 g/t gold, 5.78% zinc, 162.8 g/t silver, and 0.58% lead (13.74% CuEq). Mineralized fine-grained sediments were intersected in the hanging wall of the massive sulphide mineralization from 54.21 to 56.33 metres, grading 1.95% copper, 2.72 g/t gold, 0.58% zinc, 35.7 g/t silver, and 0.07% lead (4.61% CuEq), but a syn-mineralization basaltic dyke intruded and separated it from the massive sulphide mineralization.  This intrusion has a well-mineralized margin from 61.80 to 62.87 metres, grading 2.65% copper, 2.30 g/t gold, 0.33% zinc, 16.4 g/t silver and 0.03% lead (4.68% CuEq). The massive sulphide mineralization was intersected from 62.87 to 75.66 metres, grading 3.99% copper, 4.76 g/t gold, 1.97% zinc, 129.2 g/t silver, and 0.17% lead (9.70% CuEq). A subset of higher-grade massive sulphide occurs near at the top of the intercept from 62.87 to 65.31 metres, grading 10.34% copper, 12.57 g/t gold, 7.26% zinc, 620.1 g/t silver and 0.79% lead (29.28% 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-350 51.40 54.21 2.81 4.11 7.63 5.78 162.8 0.58 13.74 1.69
54.21 56.33 2.12 1.95 2.72 0.58 35.7 0.07 4.61 1.27
61.80 62.87 1.07 2.65 2.30 0.33 16.4 0.03 4.68 0.64
62.87 75.66 12.79 3.99 4.76 1.97 129.2 0.17 9.70 7.67
including 62.87 65.31 2.44 10.34 12.57 7.26 620.1 0.79 29.28 14.64
(1) Metal equivalency based on US$3.55/lb Cu, US$1,835.80/oz Au, US$1.18/lb Zn, US$26.79/oz Ag and US$0.92/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 February 3, 2021.

 

CURI-351 intersected a narrow section of mineralized grainstone in the hanging wall of the massive sulphide mineralization from 49.07 to 52.10 metres, grading 0.24% copper, 1.85 g/t gold, 0.49% zinc, 12.0 g/t silver, and 0.04% lead (1.94% CuEq). Massive sulphide mineralization was intersected from 52.10 to 68.46 metres, grading 5.42% copper, 3.76 g/t gold, 0.46% zinc, 34.6 g/t silver and 0.03% lead (8.81% CuEq). A subset of higher-grade massive sulphide mineralization was intersected from 52.10 to 54.16 metres, grading 17.62% copper, 20.03 g/t gold, 2.67% zinc, 196.7 g/t silver, and 0.15% lead (35.83% 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-351 49.07 52.10 3.03 0.24 1.85 0.49 12.0 0.04 1.94 2.58
52.10 68.46 16.36 5.42 3.76 0.46 34.6 0.03 8.81 13.91
including 52.10 54.16 2.06 17.62 20.03 2.67 196.7 0.15 35.83 1.75
(1) Metal equivalency based on US$3.55/lb Cu, US$1,835.80/oz Au, US$1.18/lb Zn, US$26.79/oz Ag and US$0.92/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 February 3, 2021.

 

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).

 

Figure 1 illustrates 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.

 

For reference, the last NI 43-101 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

 

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 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 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.

 

Table 1: Drill Collar Information for Infill Drill Holes at El Domo

 

Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT
CURI-370 695040 9854913 888 231 -74 N/A In Progress
CURI-369 695094 9855482 940 142 -48 N/A In Progress
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 Successfully completed per design
CURI-364 695134 9855402 946 108 -60 130.4 Successfully completed per design
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
Note: UTM Datum (Provisional South American 1956, Zone 17)

 


Drill core from CURI-349 – 13.61% copper equivalent over 16.96 metres (CNW Group/Adventus Mining Corporation)

 

 

Posted February 8, 2021

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