The Prospector News

Adventus and Salazar Announce the Remaining Drill Hole Results from Pijili Project, Highlighted by 18.55 Metres Grading 0.99% Copper, 0.25 g/t Gold, 0.03% Molybdenum, 189.8 g/t Silver, and 0.23% Tungsten

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Adventus and Salazar Announce the Remaining Drill Hole Results from Pijili Project, Highlighted by 18.55 Metres Grading 0.99% Copper, 0.25 g/t Gold, 0.03% Molybdenum, 189.8 g/t Silver, and 0.23% Tungsten

 

 

 

 

 

Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (TSX-V: SRL) (OTCQB: SRLZF)  are pleased to announce the remaining exploration drilling results from the newly discovered Ensillada copper-gold-molybdenum porphyry system located within the 3,246-hectare Pijili project in central Ecuador. The maiden drilling program finished in March 2021 for a total of 7,031 metres on the first of multiple porphyry targets identified in the district (see news releases from June 8, 2020 and April 8, 2021). The Ensillada system is approximately 5.0 km south of the Chaucha copper-molybdenum porphyry owned by Southern Copper Corporation.

 

Highlights:

 

  • MERC-011 intersected a high-grade, near-surface silver-tungsten zone over 18.55 metres, grading 0.99% copper, 0.25 g/t gold, 0.03% molybdenum, 189.8 g/t silver and 0.23% tungsten, which overprinted the top of a broader 151.81 metres of porphyry mineralization grading, 0.25% copper, 0.08 g/t gold, 0.01% molybdenum, and 3.2 g/t silver for 0.35% copper equivalent
  • 10 of 12 drill holes intersected porphyry mineralization greater than 100 metres with mineralized widths ranging between 100 to 424 metres
  • Porphyry mineralization has been traced from the artisanal mine over a 2.0 km strike length to the northwest
  • Fieldwork continues to follow-up the mineralized trend with manual test pitting tracing the surface expression of porphyry mineralization

 

Jason Dunning, Vice President Exploration of Adventus, stated: “The Pijili project’s MERC-011 results come after substantial technical work hunting for the newly discovered Ensillada copper porphyry system over the last two years on our Mercy concession. Porphyry mineralization has been intersected in all our wide-spaced drill holes, so the entire Geology & Exploration team can be extremely proud of this discovery. The results so far are a credit to our district scale approach for the Pijili project and clearly show that our hunt has only just begun, as evidenced by our recent announcement of four new targets on the Rosa de Oro and Carmen de Pijili concessions 8 km to the west of the Ensillada discovery.”

 

Drilling Results

 

Between July 2020 and March 2021, the Partners completed a total of twelve drill holes on the Mercy concession, all of which hit porphyry-style copper-gold-molybdenum mineralization. Ten of the twelve drill holes intersected greater than 100 metres of porphyry mineralization ranging between 100 to 424 metres. The wide-spaced exploration drilling has traced porphyry-style mineralization approximately 2 km from the artisanal mine site (see June 8, 2020 and October 26, 2020 news release) northwest to the northern Mercy concession boundary.

 

MERC-011 is located 1.2 km northwest from MERC-002 (which intersected 145.22 metres, grading 0.22% copper, 0.04 g/t gold, 0.01% molybdenum and 1.0 g/t silver for 0.30% CuEq, see October 26, 2020 news release), and about 280 metres south of the northern property boundary. This drill hole yielded the best intercept of porphyry-style mineralization for the project, in an area where manual test pits have defined a large area of copper sulphide minerals in bedrock including chalcopyrite, minor bornite and trace covellite. A total of 125 samples have been collected at the bedrock interface noting that 25 samples had greater than 0.10% copper with 8 of those samples having greater than 0.30% copper. One sample, 61053, located 45 metres northwest of the drill collar for MERC-011, graded 0.94% copper, 0.18 g/t gold, 0.01% molybdenum, and 12.3 g/t silver.

 

Drill hole MERC-011 was drilled in a northwest orientation and completed at 351.00 metres, intersecting porphyry-style mineralization from surface (0.70 metres) to a depth of 152.51 metres, grading 0.25% copper, 0.08 g/t gold, 0.01% molybdenum, and 3.2 g/t silver (0.35% CuEq). A higher-grade subset occurs from 4.70 to 23.25 metres, grading 0.99% copper, 0.25 g/t gold, 0.03% molybdenum, and 189.8 g/t silver.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)(4)(5)

(%)

W

(%)

Approx. True
Thickness (m)
MERC-011 0.70 152.51 151.81 0.25 0.08 0.01 3.2(5) 0.35  – (3) (1)
including 4.70 23.25 18.55 0.99 0.25 0.03 189.8 0.23 (6) (1)
including 10.28 23.25 12.97 1.16 0.30 0.03 268.0 0.33 (6) (1)
including 16.30 23.25 6.95 0.76 0.13 0.03 483.7 0.61 (6) (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.
(3) There is no reportable tungsten (W) outside of the higher-grade subset interval of 4.70 to 23.25 metres.
(4) Tungsten is not used in any CuEq calculations for MERC-011 or any other drill hole from this program as the high-grade silver-tungsten is an overprint event.
(5) Due to the overprinting high-grade silver-tungsten event, silver content for the main porphyry system composite is capped at 20.0 g/t.
(6) Composite includes one sample (MC003598) that is reported at upper threshold of 1.00% tungsten and it is still undergoing overlimit testing at laboratory.

 

An interesting component of the higher-grade subset interval for MERC-011 is the presence of significantly elevated silver and tungsten, which has not been seen in other completed drill holes. The association of tungsten to the porphyry system in this particular case is unknown at this time but it currently interpreted to be a separate, overprinting mineralizing event to the main Ensillada porphyry system. The tungsten appears to be directly linked to the high-grade silver values, with four samples yielding tungsten values greater than 0.02%, which triggered overlimit testing. The overlimit testing yielded a range of tungsten values from 0.29% to one value greater than 1.00%. The one sample with more than 1.00% tungsten triggered another overlimit test, but results are not available currently. Using available results, the higher-grade subset in MERC-011 has a tungsten grade of 0.23% from 4.70 to 23.25 metres with silver grading 189.8 g/t. Tungsten is commonly found in greisen and skarn systems, occurring mainly as wolframite (iron–manganese tungstate (Fe,Mn)WO4, which is a solid solution of the two minerals ferberite FeWO4, and hübnerite MnWO4) and scheelite (calcium tungstate (CaWO4). Other tungsten minerals range in their level of abundance from moderate to very rare. No mineralogical work has been done to characterize the tungsten-hosting mineral in MERC-011.

 

MERC-004 was designed to further evaluate the hydrothermal breccias of the Zambohuaycu showing and those intersected in MERC-002 (see October 26, 2020 news release). Two zones of hydrothermal breccia were intersected from 22.20 to 66.70 metres and from 72.40 to 79.08 metres. Both intervals contain variable concentrations of sulphide mineralization (chalcopyrite, pyrite, ± bornite, and ± molybdenite) and display biotite, chlorite, and sericite alteration. As seen in MERC-002, sporadic sulphide mineralization is present in both the feldspar porphyritic and hornblende porphyritic phases of the diorite intrusion below the upper hydrothermal breccia intervals.

 

 

Drill Hole

 

From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-004 24.20 133.60 109.40 0.19 0.04 0.01 1.1 0.24 (1)
including 40.20 91.16 50.96 0.32 0.06 0.01 1.1 0.39 (1)
including 72.15 79.08 6.93 0.77 0.16 0.01 2.4 0.92 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

MERC-005 was drilled from the same platform as MERC-003 and designed to test the area northeast of the Zambohuaycu showing. It intersected three phases of the diorite intrusion, a hornblende phyric phase from 10.50 to 416.55 metres, a feldspar phyric phase from 422.30 to 456.63 metres, and a quartz-rich phase from 463.04 to end of drill hole at 686.40 metres. Hydrothermal breccia was present from 167.15 to 179.75 metres. This drill hole displays stronger hydrothermal alteration and higher aggregate quartz dominant vein content (A-, B-, and AB-type) signatures relative to the prior holes located to the south. The pyrite ratio increases with depth, meaning chalcopyrite decreases and trails off after 500 metres, where pyrite shows a marked increase.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-005 14.80 438.31 423.51 0.07 0.03 0.00 0.4 0.10 (1)
including 103.80 191.80 88.00 0.10 0.04 0.00 0.4 0.14 (1)
including 115.85 139.15 23.30 0.15 0.06 0.00 0.7 0.21 (1)
including 268.20 289.40 21.20 0.17 0.06 0.00 0.9 0.23 (1)
including 281.40 283.40 2.00 0.79 0.27 0.00 3.2 0.99 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

MERC-006 targeted the porphyry-style veining mapped on surface 300 metres northeast of the Zambohuaycu showing and to determine if hydrothermal breccia units could be traced over that distance. The drill hole remained in the hornblende phyric diorite intrusion except for one narrow interval of hydrothermal breccia (30.21 to 32.40 metres) and two magmatic breccia intervals (55.20 to 77.60 and 161.46 to 162.77 metres). Sulphide mineral content in the drill hole is variable, but the drill hole does contain minor chalcopyrite and pyrite mineralization.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-006 28.55 129.10 100.55 0.08 0.03 0.00 0.3 0.11 (1)
including 28.55 101.15 72.60 0.09 0.04 0.00 0.3 0.12 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

MERC-007 targeted the Ensillada showing, 300 metres north of the Zambohuaycu showing. This is an area of extensive quartz dominant stockwork mapped on surface, which is represented in the drill hole in top 175.00 metres with narrow sections having between 10 to 30% veining.  Copper sulphide minerals are noted over the entire hole length; however, the pyrite-chalcopyrite ratio remained high across two porphyry-style mineralization intercepts.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-007 4.80 402.19 397.39 0.09 0.04 0.00 1.0 0.13 (1)
including 4.80 18.80 14.00 0.27 0.24 0.00 3.2 0.45 (1)
516.15 678.30 162.15 0.07 0.01 0.00 2.0 0.11 (1)
including 569.80 570.31 0.51 0.49 0.72 0.80 253.0 5.41 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

The high-grade silver from 569.80 to 570.31 metres is also associated with zinc mineralization. This interval graded 2.88% zinc over 0.51 metres. It is not uncommon to see such polymetallic veins associated with intrusion-related systems, however, this is the only known zinc occurrence on the Mercy concession.

 

Following up on MERC-007 and drilling from the same platform, MERC-008 targeted the area between Ensillada and Zambohuaycu showings south of MERC-007.  This drill hole intersected numerous intervals of igneous breccia units but importantly hit hydrothermal crackle breccia from 246.00 to 329.50 metres downhole.  For the first time, “shingle” or “corn flake breccia” texture has been observed in the drill holes at Mercy concession, with minor chalcopyrite and trace bornite associated.  The hydrothermal alteration decreased in intensity with increasing depth.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-008 5.20 399.10 393.90 0.11 0.07 0.00 0.5 0.17 (1)
including 5.20 21.25 16.05 0.25 0.21 0.00 1.8 0.40 (1)
including 59.20 61.45 2.25 0.07 0.02 0.14 0.0 0.48 (1)
including 276.70 327.70 51.00 0.22 0.19 0.01 0.9 0.37 (1)
including 276.70 295.36 18.66 0.31 0.32 0.01 1.3 0.55 (1)
including 280.74 282.74 2.00 0.79 1.04 0.00 3.5 1.48 (1)
including 313.84 327.70 13.86 0.28 0.19 0.02 1.2 0.46 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

After manual test pits identified widespread porphyry mineralization in Zambohuaycu Norte area, west along Ensillada Ridge (see October 26, 2020 news release), MERC-009 was designed to target copper surficial anomalies associated with the aerially extensive quartz vein stockwork mapped on surface 245 metres southwest of MERC-007 and MERC-008.  It is an area of low manganese (Mn) which is a very positive indicator, though centred on a large Magnetic Susceptibility 3D inversion anomaly, likely linked to magnetite in the potassic alteration facies.  Drill core logging noted a high percentage of quartz-dominant veining in top 150.00 metres of the drill hole with narrow sections, similar to MERC-007, having a range of 10 to 30% quartz veining a high pyrite to chalcopyrite ratio.  Importantly, this is the first drill hole with tonalite, which is a key rocktype at the Chaucha copper-molybdenum deposit, approximately 5 km to the north.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-009 84.74 319.99 235.25 0.13 0.02 0.01 1.2 0.17 (1)
including 216.76 258.50 41.74 0.21 0.03 0.01 2.0 0.27 (1)
including 216.76 226.58 9.82 0.32 0.03 0.01 3.1 0.40 (1)
including 220.76 224.58 3.82 0.47 0.03 0.02 4.3 0.59 (1)
377.91 454.37 76.46 0.09 0.01 0.00 1.4 0.11 (1)
including 434.65 440.65 6.00 0.22 0.02 0.00 4.6 0.27 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

The concept design for the MERC-010 drilling location was to evaluate the rocks beneath an interpreted relict lithocap where quartz pyrophyllite alteration had been mapped on surface. In general, the hydrothermal alteration and general character of the veins was different from the other drill holes in this program, but as the drill hole increased in depth, both biotite and chlorite alteration did increase, which also coincided with a decrease in the pyrite content and a slow increase in chalcopyrite. Copper started to pick up around 227.00 metres downhole, and a thick interval of porphyry mineralization was cored to 540.73 metres. This section of porphyry mineralization was the deepest intercept of the program.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-010 46.77 50.77 4.00 0.10 0.08 0.00 3.6 0.19 (1)
194.17 198.16 3.99 0.08 0.04 0.01 5.1 0.17 (1)
227.00 540.73 313.73 0.08 0.03 0.00 0.7 0.12 (1)
including 428.35 540.73 112.38 0.14 0.04 0.01 0.8 0.19 (1)
including 502.47 509.85 7.38 0.24 0.05 0.01 1.3 0.32 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

MERC-012 was the final drill hole of the program designed to target the magnetic anomaly at depth under the two small artisanal mining concessions. It was setup 276 metres south of MERC-001 that intersected 64.60 metres, grading 0.1% copper, 0.20 g/t gold, 0.03% molybdenum, and 4.1 g/t silver (see October 26, 2020 news release). The drill hole was terminated at 491.08 metres due to the southern concession boundary to open ground. For the most part, the drill hole remained in hornblende phyric diorite, and only transitioned to quartz diorite at the end of the drill hole.

 

In terms of hydrothermal alteration, the intensity of alteration in MERC-012 increased downhole, which coincided with an increase in magnetite modal content, thereby suggesting a possible transition towards potassic alteration at depth. Sulphide content generally increased downhole even though like MERC-001 (see October 26, 2020 news release), the only notable porphyry mineralization occurred at the top of the drill hole; however, if not for the concession boundary, the favourable geology and intensifying alteration would have justified pushing the drill hole deeper.

 

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu (%) Au (g/t) Mo (%) Ag (g/t) CuEq (2)

(%)

Approx. True
Thickness (m)
MERC-012 8.00 50.11 42.11 0.09 0.18 0.00 1.0 0.21 (1)
including 29.23 34.27 5.04 0.10 1.35 0.00 1.3 0.96 (1)
including 42.11 46.11 4.00 0.27 0.01 0.00 0.4 0.28 (1)
322.95 334.87 11.92 0.13 0.04 0.00 1.8 0.19 (1)
including 322.95 326.93 3.98 0.23 0.07 0.00 3.1 0.31 (1)
Notes:
(1) Due to the early stages of the project and limited geological information, it is impossible to accurately interpret an approximate true thickness
(2) Metal equivalency based on US$4.08/lb Cu, US$1,702.80/oz Au, US$12.30/lb Mo, and US$25.27/oz Ag; 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 April 6, 2021.

 

Figure 1 illustrates the drill locations for the results of the nine drill holes outlined in this news release, as well as the three previously released drill holes (see October 26, 2020 news release). Drill collar location coordinates are summarized in Table 1 at the end of this news release.

 

Next Steps

 

Given the positive results from the drilling program on the Mercy concession intersecting porphyry mineralization in all twelve drill holes, the Partners are assessing opportunities for a second phase of exploration drilling for later in 2021 or early 2022 to focus on expanding the areas of higher-grade mineralization. Future drilling would continue developing the geological understanding of the new Ensillada porphyry system discovery. In the interim, fieldwork will continue advancing the manual test pit program to further trace porphyry mineralization to aid with the definition of drilling targets. This work on Mercy concession will run in parallel with the continued exploration on the Partners’ Rosa de Oro and Carmen de Pijili concessions 8.0 km to the west where targets are being developed for possible drill-ready status (see April 8, 2021 news release).

 

Technical Information and Quality Control & Quality Assurance

 

The Pijili project work program is being managed and reviewed by Vice President of Exploration for Adventus, Jason Dunning, M.Sc., P.Geo., a Qualified Person within the meaning of NI 43-101, who has also reviewed and approved the technical and scientific information of this news release as accurate. Technical 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 and Vancouver, Canada 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 Pijili 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 classical fire assay techniques with an ICP-AES finish, and both silver and base metals are analyzed by a 46-element 4 acid digestion with ICP-MS technique. Overlimit protocols are in place for gold, silver, copper, molybdenum, 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

 

Hole ID EAST NORTH ELEV AZIMUTH DIP DEPTH COMMENT
MERC-001 678454 9670625 3236 225 -80 915.00 Successfully completed per design
MERC-002 677819 9670884 2826 330 -70 630.66 Successfully completed per design
MERC-003 677978 9670933 2966 180 -50 369.51 Successfully completed per design
MERC-004 677819 9670884 2826 330 -85 465.00 Successfully completed per design
MERC-005 677978 9670933 2966 330 -50 686.00 Successfully completed per design
MERC-006 678081 9671017 2966 30 -60 669.79 Successfully completed per design
MERC-007 677812 9671296 3009 295 -75 747.57 Successfully completed per design
MERC-008 677812 9671296 3009 185 -60 610.00 Successfully completed per design
MERC-009 677614 9671151 2993 330 -75 554.00 Successfully completed per design
MERC-010 678479 9671655 3224 330 -90 541.00 Successfully completed per design
MERC-011 677511 9671413 2972 345 -65 351.00 Successfully completed per design
MERC-012 678557 9670369 3390 225 -75 491.08 Successfully completed per design
Notes:
(1) All drill holes are surveyed in UTM Datum (Provisional South American 1956, Zone 17)

 

Figure 1: Drill Collar Location Map

 

 


Pijili Project’s Mercy Concession Drill Collar Location Map (see April 20, 2021 news release) (CNW Group/Adventus Mining Corporation)

 

Posted April 20, 2021

Share this news article

MORE or "UNCATEGORIZED"


Silver Storm Extends San Marcos Mine 100 M at Depth With High-grade Drill Results

Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR),... READ MORE

June 24, 2024

Victoria Gold: Sale of Clear Creek Property

Victoria Gold Corp. (TSX-VGCX) announces that is has executed a d... READ MORE

June 24, 2024

Graphite One Announces Revised Contract with the U.S. Department of Defense to Increase Share of Expenditures from 50% to 75% for the Feasibility Study

Graphite One Inc. (TSX‐V:GPH) (OTCQX:GPHOF) is pleased to annou... READ MORE

June 24, 2024

Maple Gold Announces Closing of C$4.05 Million Flow-Through Private Placement

Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) is pl... READ MORE

June 24, 2024

Premier American Uranium and American Future Fuel Announce Updated Mineral Resource Estimate for the Cebolleta Project, Setting the Stage for Planned Expansion Drilling

Premier American Uranium Inc. (TSX-V: PUR) (OTCQB: PAUIF) and Ame... READ MORE

June 24, 2024

Copyright 2024 The Prospector News