The Prospector News

Adventus and Salazar Announce Initial 2020-2021 Drill Program Results at The El Domo Deposit Highlighted by 6.41% Copper Equivalent Over 12.28 Metres Grading 2.77% Copper, 1.76 GPT Gold, 1.79% Zinc, 155.3 GPT Silver and 0.15% Lead

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Adventus and Salazar Announce Initial 2020-2021 Drill Program Results at The El Domo Deposit Highlighted by 6.41% Copper Equivalent Over 12.28 Metres Grading 2.77% Copper, 1.76 GPT Gold, 1.79% Zinc, 155.3 GPT Silver and 0.15% Lead

 

 

 

 

 

Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (TSX-V: SRL) are pleased to announce initial infill and exploration drilling results from the El Domo volcanogenic massive sulphide deposit and to provide a status update on its regional drilling program at the La Vaquera target, both of which are located within the 21,537-hectare Curipamba project in central Ecuador.

 

Highlights

 

Infill drilling at El Domo:

 

  • CURI-340 intersected 18.70 metres of 1.82% copper, 1.27 g/t gold, 1.19% zinc, 103.2 g/t silver, and 0.10% lead for 4.32% CuEq. – including 12.28 metres of 2.77% copper, 1.76 g/t gold, 1.79% zinc, 155.3 g/t silver and 0.15% lead for 6.41% CuEq.
  • CURI-341 intersected 4.34 metres of 1.13% copper, 7.16 g/t gold, 9.72% zinc, 495.7 g/t silver, and 2.59% lead for 15.90% CuEq. – including 3.32 metres of 0.90% copper, 8.78 g/t gold, 11.94% zinc, 626.0 g/t silver and 3.33% lead for 19.25% CuEq.

 

Exploration drilling to test eastern extents of El Domo:

 

  • CURI-339 intersected 9.23 metres of 1.53% copper, 0.47 g/t gold, 0.02% zinc, and 1.6 g/t silver for 1.92% CuEq. – including 4.12 metres of 3.40% copper, 0.50 g/t gold, 0.03% zinc, and 2.7 g/t silver for 3.82% CuEq.

 

Christian Kargl-Simard, President and CEO of Adventus, commented: “Site activity is fully ramped up at the Curipamba project, with six drill rigs turning to support the El Domo feasibility study and to test regional targets for new discovery. We expect continuous diamond drilling results during 2021, with six holes already with the assay lab. Today’s results re-confirm El Domo as one of the highest grade undeveloped polymetallic projects in the world, and that there is good promise to continue to expand the limits of El Domo to the east.” Figures 1 and 2 outline the drill locations for the four 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 exploration drilling program in Table 1 and Table 2 respectively at the end of this news release.

 

El Domo Infill Drilling Program

 

To support the ongoing feasibility study for El Domo development (see December 2, 2020 news release), a 4,960-metre infill definition drilling program was designed to achieve the maximum conversion rate of Indicated to Measured category mineral resources, and to also yield additional metallurgical material to further refine well-advanced process engineering considerations. The current infill definition drilling program has been optimized and designed to use only 15 platforms for all 42 planned drill holes. At present, 13 infill definition drill holes have been successfully completed totaling 1,507.5 metres from the planned 4,960 metres, with two drill holes in progress totaling a further 67.1 metres completed.

 

Drill hole CURI-340 intersected a thick section of massive sulphide mineralization from 99.00 to 117.70 metres, grading 1.82% copper, 1.27 g/t gold, 1.19% zinc, 103.2 g/t silver and 0.10% lead (4.32% CuEq). This includes a copper and silver-rich subsection from 99.00 to 101.43 metres, grading 10.57% copper, 3.47 g/t gold, 5.04% zinc, 630.7 g/t silver and 0.25% lead (21.67% 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-340 99.00 117.70 18.70 1.82 1.27 1.19 103.2 0.10 4.32 14.96
including 99.00 111.28 12.28 2.77 1.76 1.79 155.3 0.15 6.41 9.82
including 99.00 101.43 2.43 10.57 3.47 5.04 630.7 0.25 21.67 1.94
(1) Metal equivalency based on US$3.53/lb Cu, US$1,853.10/oz Au, US$1.29/lb Zn, US$24.53/oz Ag and US$0.93/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery.

 

CURI-341 intersected mineralized grainstone unit from 67.70 to 80.06 metres directly in the hanging wall of the massive sulphide mineralization. A copper and gold-rich subset of the grainstone unit occurs from 70.62 to 71.00 metres, grading 4.10% copper, 3.36 g/t gold, 2.74% zinc, 86.9 g/t silver, and 0.31% lead (8.62% CuEq). The massive sulphide mineralization was intersected from 80.06 to 84.40 metres, grading 1.13% copper, 7.16 g/t gold, 9.72% zinc, 495.7 g/t silver, and 2.59% lead (15.90% CuEq). A higher-grade subset was intersected from 80.58 to 83.90 metres, grading 0.90% copper, 8.78 g/t gold, 11.94% zinc, 626.0 g/t silver, and 3.33% lead (19.25% 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-341 70.62 71.00 0.38 4.10 3.36 2.74 86.9 0.31 8.62 0.30
80.06 84.40 4.34 1.13 7.16 9.72 495.7 2.59 15.90 3.87
including 80.58 83.90 3.32 0.90 8.78 11.94 626.0 3.33 19.25 2.66
(1) Metal equivalency based on US$3.53/lb Cu, US$1,853.10/oz Au, US$1.29/lb Zn, US$24.53/oz Ag and US$0.93/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery.

 

An additional 355 metres of drilling has been planned to convert Inferred mineral resources to the Indicated category as defined in the 2019 mineral resource estimate while 1,200 metres has been planned for geomechanical data collection of the eastern open pit wall proposed. 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.

 

El Domo East Exploration Drill Results

 

Two drill holes totaling 533 metres were successfully completed on exploration targets identified along the eastern margin of the 2019 Mineral Resource estimate for El Domo that was the foundation for the preliminary economic assessment. The targets are dual purposed, firstly to assess possible expansion of the deposit to the east and secondly, to close off any gaps in the wide-spaced drilling to confirm the existing detailed 3D geological model.

 

Drill hole CURI-339 intersected two sections of semi-massive sulphide mineralization separated by significant gypsum hydrothermal alteration. The second section is copper-rich semi-massive sulphide mineralization from 208.87 to 218.10 metres, grading 1.53% copper, 0.47g/t gold, 0.02% zinc, and 1.6 g/t silver (1.92% CuEq).  A subset interval of semi-massive sulphide mineralization possesses higher-grade from 210.90 to 215.02 metres, grading 3.40% copper, 0.50 g/t gold, 0.03% zinc, and2.7 g/t silver (3.82% CuEq). See Figure 3 showing a section with CURI-339, and the potential to continue to expand to the east.

 

 

Drill Hole

 

From

(m)

To

(m)

Thickness

(m)

Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq(1)

(%)

Approx. True
Thickness (m)
CURI-339 201.68 204.88 3.20 0.32 0.42 0.08 3.7 0.02 0.71 2.24
208.87 218.10 9.23 1.53 0.47 0.02 1.6 0.00 1.92 6.46
including 210.90 215.02 4.12 3.40 0.50 0.03 2.7 0.00 3.82 2.88
(1) Metal equivalency based on US$3.53/lb Cu, US$1,853.10/oz Au, US$1.29/lb Zn, US$24.53/oz Ag and US$0.93/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery.

 

Drill hole CURI-338 did not intersect massive sulphide mineralization, however, it passed through mineralized and hydrothermally altered footwall felsic volcanic autobreccia from 253.02 to 295.60 metres. A short interval of footwall style mineralization is present from 253.02 to 255.69 metres grading 0.37% copper, 0.10 g/t gold, 0.64% zinc, 3.0 g/t silver, and 0.02% lead (0.71% 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-338 253.02 255.69 2.67 0.37 0.10 0.64 3.0 0.02 0.71 1.87
253.02 253.71 0.69 0.12 0.26 1.58 8.5 0.06 1.00 0.48
(1) Metal equivalency based on US$3.53/lb Cu, US$1,853.10/oz Au, US$1.29/lb Zn, US$24.53/oz Ag and US$0.93/lb Pb; noting that no adjustments were made
in the metal equivalency calculation for metal recovery.

 

Update on Regional Drilling at Curipamba – Beginning at La Vaquera

 

Located approximately 8 km southwest of the El Domo deposit, the first regional exploration drill hole at the La Vaquera target, has been successfully completed to a depth of 457.8 metres (CREG-001). In total, 15 compelling regional targets have been defined during the Partners’ target generation initiative process (see June 22, 2020 news release). Of key significance to the TGI is that most of the 15 regional targets have neither seen exploration nor drilling, with La Vaquera ranked highest in the TGI process. Results from the regional exploration work program will aid in further pipeline development of drill ready locations in the favourable strata that hosts the El Domo deposit. A minimum drilling budget of 10,000 metres has been planned for the evaluation of these new priority regional targets areas in 2020 and 2021.

 

Core logging and sampling of CREG-001 is in progress with the drill rig now having moved onto the second priority platform in the La Vaquera area. This drilling is part of the 3,000-metre La Vaquera-Sesmo Sur program that is expected to finish in first quarter of 2021. Drill collar location coordinates are summarized for the regional drilling program in Table 3 at the end of this news release.

 

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.

 

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-354 695057 9855149 894 55 -54 N/A In Progress
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)

 

Table 2: Drill Collar Information for Exploration Drill Holes at El Domo in News Release 20-22

 

 

Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT
CURI-339 695448 9855287 1031 286 -81 237.0 Successfully completed per design
CURI-338 695570 9855450 1070 270 -75 296.0 Successfully completed per design
                                                Note: UTM Datum (Provisional South American 1956, Zone 17)

 

Table 3: Drill Collar Information for Exploration Drill Holes at La Vaquera-Sesmo Sur in News Release 20-22

 

Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT
CREG-001 690855 9848700 544 270 -60 457.8 Successfully completed per design
CREG-002 690518 9848536 528 270 -60 N/A In Progress
                                                Note: UTM Datum (Provisional South American 1956, Zone 17)

 

Collar Location Map for Drill Holes at El Domo as at December 21, 2020 News Release (CNW Group/Adventus Mining Corporation)

 

 


Collar Location Map for Drill Holes at La Vaquera as at December 21, 2020 News Release (CNW Group/Adventus Mining Corporation)

 

Posted December 21, 2020

Share this news article

MORE or "UNCATEGORIZED"


Montage Closes $20 Million Private Placement of Subscription Receipts

Montage Gold Corp.  (TSX-V: MAU) is pleased to announce the clos... READ MORE

June 30, 2022

Cornish Metals Reports Drilling From the Trenares Target, United Downs Project, Cornwall, UK

Cornish Metals Inc. (TSX-V:CUSN) (AIM: CUSN) a dual-listed compan... READ MORE

June 30, 2022

Kodiak Reports Infill Drilling from Southern Gate Zone: 0.44% CuEq Over 114 m, within 0.28% CuEq Over 501 m

Kodiak Copper Corp. (TSX-V: KDK) (OTCQB: KDKCF) (Frankfurt: 5DD1)... READ MORE

June 30, 2022

NOVAGOLD Reports Second Quarter 2022 Financial Results

Donlin Gold’s Largest Drill Program in Over 10 Years Advancing... READ MORE

June 30, 2022

NEVADA SUNRISE CLOSES $1,500,000 PRIVATE PLACEMENT

Nevada Sunrise Gold Corporation (TSX-V: NEV) (OTC: NVSGF) announc... READ MORE

June 30, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News