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Adventus and Salazar Announce Drilling Results at The El Domo Deposit Highlighted by 5.06% Copper Equivalent Over 44.19 Metres

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Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (TSX-V: 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 for the ongoing feasibility study continues at El Domo with two diamond drill rigs having completed 42 infill definition drill holes totaling 4,725 metres from the planned 4,960 metres, and two drill holes in progress totaling a further 77 metres completed. The Partners anticipate that all infill, geomechanical, geotechnical, and hydrogeological drilling required to support the completion of the El Domo feasibility study and submittal of the environmental and social impact assessment will be completed by the end of March 2021.

 

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

 

  • CURI-357 intersected 44.19 metres of 3.39% copper, 2.30 g/t gold, 0.42% zinc, 13.4 g/t silver, and 0.03% lead for 5.06% copper equivalent (“CuEq”) – including 23.83 metres of 5.96% copper, 2.79 g/t gold, 0.42% zinc, 19.6 g/t silver, and 0.04% lead for 7.99% CuEq
  • CURI-356 intersected 10.92 metres of 5.81% copper, 1.58 g/t gold, 3.16% zinc, 34.3 g/t silver and 0.04% lead for 8.09% CuEq – including 3.79 metres of 12.05% copper, 3.67 g/t gold, 8.90% zinc, 67.9 g/t silver, and 0.09% lead for 17.73% CuEq

 

Drill hole CURI-356 intersected mineralized fine-grained sediments in the immediate hanging wall of the massive sulphide from 65.10 to 69.12 metres, grading 0.37% copper, 0.85 g/t gold, 2.87% zinc, 15.9 g/t silver, and 0.06% lead (1.94% CuEq). Massive sulphide mineralization was intersected from 69.12 to 80.04 metres, grading 5.81% copper, 1.58 g/t gold, 3.16% zinc, 34.3 g/t silver and 0.04% lead (8.09% CuEq). A higher-grade subset occurs from 69.12 to 72.91 metres, grading 12.05% copper, 3.67 g/t gold, 8.90% zinc, 67.9 g/t silver, and 0.09% lead (17.73% CuEq). In the footwall, a section of mineralized dacite autobreccia was intersected from 80.04 to 89.26 metres, grading 0.84% copper, 0.12 g/t gold, 0.16% zinc, 3.4 g/t silver and 0.02% lead (1.00% CuEq). A higher-grade subset was from 85.30 to 89.26 metres, grading 1.81% copper, 0.07 g/t gold, 0.03% zinc, 3.4 g/t silver and 0.01% lead (1.89% 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-356 65.10 69.12 4.02 0.37 0.85 2.87 15.9 0.06 1.94 3.02
69.12 80.04 10.92 5.81 1.58 3.16 34.3 0.04 8.09 8.19
Including 69.12 72.91 3.79 12.05 3.67 8.90 67.9 0.09 17.73 2.84
80.04 89.26 9.22 0.84 0.12 0.16 3.4 0.02 1.00 6.92
Including 85.30 89.26 3.96 1.81 0.07 0.03 3.4 0.01 1.89 2.97
(1) Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/oz Ag and US$0.89/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 March 12, 2021.

 

CURI-357 intersected a narrow section of well-mineralized grainstone with massive sulphide clasts in the immediate hanging wall of the massive sulphide from 51.26 to 52.34 metres, grading 0.50% copper, 1.74 g/t gold, 2.51% zinc, 71.1 g/t silver, and 0.72% lead (3.16% CuEq). The thick section of massive sulphide mineralization was from 52.34 to 96.53 metres, grading 3.39% copper, 2.30 g/t gold, 0.42% zinc, 13.4 g/t silver, and 0.03% lead (5.06% CuEq). A higher-grade subset of the massive sulphide mineralization was from 69.09 to 92.92 metres, grading 5.96% copper, 2.79 g/t gold, 0.42% zinc, 19.6 g/t silver, and 0.04% lead (7.99% 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-357 51.26 52.34 1.08 0.50 1.74 2.51 71.1 0.72 3.16 0.76
52.34 96.53 44.19 3.39 2.30 0.42 13.4 0.03 5.06 30.93
Including 69.09 92.92 23.83 5.96 2.79 0.42 19.6 0.04 7.99 16.10
(1) Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/oz Ag and US$0.89/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 March 12, 2021.

 

CURI-359 intersected massive sulphide mineralization from 61.70 to 75.60 metres, grading 1.13% copper, 1.50 g/t gold, 2.75% zinc, 43.1 g/t silver, and 0.20% lead (3.35% CuEq). Three narrower subsets of higher-grade massive sulphide mineralization were intersected from 61.70 to 63.50 metres, grading 0.61% copper, 4.27 g/t gold, 13.89% zinc, 256.1 g/t silver, and 1.34% lead (10.22% CuEq); from 67.28 to 73.06 metres, grading 2.41% copper, 1.80 g/t gold, 1.00% zinc, 16.9 g/t silver, and 0.06% lead (3.51% CuEq); and from 69.79 to 71.60 metres, grading 5.97% copper, 3.03 g/t gold, 2.14% zinc, 19.3 g/t silver, and 0.03% lead (8.67% 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-359 61.70 75.60 13.90 1.13 1.50 2.75 43.1 0.20 3.35 11.82
Including 61.70 63.50 1.80 0.61 4.27 13.89 256.1 1.34 10.22 1.53
Including 67.28 73.06 5.78 2.41 1.80 1.00 16.9 0.06 3.51 4.91
Including 69.79 71.60 1.81 5.97 3.03 2.14 19.3 0.03 8.67 1.54
(1) Metal equivalency based on US$4.10/lb Cu, US$1,723.50/oz Au, US$1.28/lb Zn, US$25.88/oz Ag and US$0.89/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 March 12, 2021.

 

Drill holes CURI-358 and CURI-360 were designed to test the outer margins of the Indicated category material and to further assess the pit wall geology. These drill holes confirmed modelling previously done along the margins of the deposit and provide excellent geological control for future modelling studies. Drill hole CURI-358 intersected mineralization in the footwall felsic autoclastic volcanic rocks from 96.13 to 109.00 metres, grading 0.03% copper, 0.15 g/t gold, 0.52% zinc, 6.7 g/t silver, and 0.02% lead (0.36% CuEq) over 8.37 metres approximate true thickness.  Drill hole CURI-360 intersected mineralized fine-grained sediments from 50.08 to 51.96 metres, grading 0.03% copper, 2.05 g/t gold, 0.41% zinc, 91.5 g/t silver, and 0.19% lead (2.30% CuEq) over 1.50 metres approximate true thickness.

 

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 five 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 and geomechanical drilling programs 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-387 695051 9855474 930 26 -49 N/A In Progress
CURI-386 695100 9855600 943 230 -65 N/A In Progress
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 N/A In Progress
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 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
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)

 

 

Posted March 16, 2021

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