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Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 45.00% Copper Equivalent Over 4.22 Metres Grading 19.11% Copper, 24.36 G/t Gold, 10.93% Zinc, 309.5 G/t Silver and 0.83% Lead

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Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 45.00% Copper Equivalent Over 4.22 Metres Grading 19.11% Copper, 24.36 G/t Gold, 10.93% Zinc, 309.5 G/t Silver and 0.83% Lead

 

 

 

 

 

Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (TSX-V: SRL)  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

 

 

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 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 and trades on the OTCQX.

 

About Salazar

 

 

Salazar Resources 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 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)

 

 

Drilling at El Domo deposit, Curipamba Project – Q4 2020 – Adventus Mining Corporation (CNW Group/Adventus Mining Corporation)

 

Posted December 30, 2020

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