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Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground – Including 5.50 metres of 7.58% Copper Equivalent

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Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground – Including 5.50 metres of 7.58% Copper Equivalent

 

 

 

 

 

Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited (TSX-V: SRL) (OTCQB: SRLZF) are pleased to announce the additional infill drilling results from the underground portion of the El Domo volcanogenic massive sulphide deposit located within the 21,537-hectare Curipamba project in central Ecuador. The infill drilling program for the underground portion of the Mineral Resource at El Domo, as announced in the August 29, 2022 press release, continues with two diamond drill rigs.

 

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

  • CURI-400 intersected 5.50 metres of 6.00% copper, 0.38 g/t gold, 6.02% zinc, 15.2 g/t silver, and 0.01% lead for 7.58% copper equivalent
  • CURI-399 intersected 3.79 metres of 5.72% copper, 4.25 g/t gold, 5.24% zinc, 100.4 g/t silver, and 0.26% lead for 9.02% CuEq – including 1.57 metres of 11.95% copper, 9.41 g/t gold, 12.45% zinc, 234.0 g/t silver, and 0.59% lead for 19.84% CuEq
  • CURI-397 intersected 3.12 metres of 0.48% copper, 5.07 g/t gold, 5.23% zinc, 164.1 g/t silver, and 1.99% lead for 6.29% copper equivalent CuEq – including 0.89 metres of 1.35% copper, 14.70 g/t gold, 17.40% zinc, 507.4 g/t silver, and 6.74% lead for 19.47% CuEq

 

Drill hole CURI-397 intersected a thick section of lower-grade semi-massive sulphide from 185.10 to 199.15 metres with a narrower section from 185.10 to 188.22 metres, grading 0.48% copper, 5.07 g/t gold, 5.23% zinc, 164.1 g/t silver, and 1.99% lead. A higher-grade subset was intersected from 185.73 to 186.62, grading 1.35% copper, 14.70 g/t gold, 17.40% zinc, 507.4 g/t silver, and 6.74% lead.

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
Copper
Equivalency
(%) (1) (2)
Approx. True
Thickness (m)
CURI-397 185.10 188.22 3.12 0.48 5.07 5.23 164.1 1.99 6.29 2.34
including 185.73 186.62 0.89 1.35 14.70 17.40 507.4 6.74 19.47 0.67
(1)  Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

 

CURI-398 intersected semi-massive to massive sulphide mineralization from 197.26 to 210.87 metres, grading 1.98% copper, 1.28 g/t gold, 0.17% zinc, 4.9 g/t silver and 0.01% lead. A higher-grade subset was intersected from 200.31 to 203.72 metres, grading 5.77% copper, 2.30 g/t gold, 0.55% zinc, and 8.6 g/t silver and 0.01% lead.

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
Copper
Equivalency
(%)(1) (2)
Approx. True
Thickness (m)
CURI-398 197.26 210.87 13.61 1.98 1.28 0.17 4.9 0.01 1.75 8.85
including 198.02 206.43 8.41 3.15 1.65 0.23 6.3 0.01 2.73 5.47
including 200.31 203.72 3.41 5.77 2.30 0.55 8.6 0.01 4.94 2.22
(1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

 

Drill hole CURI-399 intersected semi-massive to massive sulphide mineralization from 178.59 to 182.38 metres, grading 5.72% copper, 4.25 g/t gold, 5.24% zinc, 100.4 g/t silver, and 0.26% lead. A higher-grade subsection occurs from 179.79 to 181.36 metres, grading 11.95% copper, 9.41 g/t gold, 12.45% zinc, 234.0 g/t silver and 0.59% lead.

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
Copper
Equivalency
(%) (1) (2)
Approx. True
Thickness (m)
CURI-399 178.59 182.38 3.79 5.72 4.25 5.24 100.4 0.26 9.07 3.22
including 179.79 181.36 1.57 11.95 9.41 12.45 234.0 0.59 19.84 1.33
(1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

 

Drill hole CURI-400 intersected mineralized, gypsum alteration (replacement) of the host strata in the hanging wall of the semi-massive sulphide mineralization from 225.77 to 227.64 metres, grading 1.01% copper, 0.27 g/t gold, 1.07% zinc, 3.5 g/t silver and 0.01% lead. This transitioned directly into semi-massive sulphide mineralization from 227.64 to 233.14 metres, grading 6.00% copper, 0.38 g/t gold, 6.02% zinc, 15.2 g/t silver, and 0.01% lead. Below the semi-massive sulphide mineralization, it transitioned back into mineralized gypsum alteration (replacement) from 233.14 to 235.49 metres, grading 2.01% copper, 0.11 g/t gold, 0.04% zinc, and 2.1 g/t silver, noting that the replacement continued through a depth of 251.22 metres.

 

Drill Hole From

(m)

To

(m)

Thickness

(m)

Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
Copper
Equivalency
(%)(1) (2)
Approx. True
Thickness (m)
CURI-400 225.77 227.64 1.87 1.01 0.27 1.07 3.5 0.01 1.38 1.40
227.64 233.14 5.50 6.00 0.38 6.02 15.2 0.01 7.58 4.13
233.14 235.49 2.35 2.01 0.11 0.04 2.1 0.00 1.63 1.76
(1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
(2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador”.

 

All results from the infill drilling program are to be used in updating the underground portion of the Mineral Resource estimate for El Domo in 2023, which will be part of a future feasibility study that will integrate the development a potential underground operation in addition to the planned open pit (see August 29, 2022 news release). Figure 1 illustrates the drill locations for the results of the five drill holes outlined in this news release. 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 Mineral Resource estimate completed in accordance with NI 43-101 for El Domo was published as part of the Feasibility Study report titled: “NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador“, with an effective date of October 26, 2021 on SEDAR.

 

Technical Information and QAQC

 

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 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 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, samples from regional drilling have silver and base metals analyzed by a modified ore grade 24-element aqua regia technique with ICP-ES finish. Gold is analyzed by fire assay fusion with AAS 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 Mining

 

Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and development company. Adventus Mining is majority owner of the 215 sq. km Curipamba copper-gold project, which has a completed feasibility study on the shallow and high-grade El Domo deposit. In addition, Adventus Mining is engaged in a country-wide exploration alliance in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Outside of Ecuador, Adventus Mining owns an exploration project portfolio in Ireland with South32 Limited as the funding participant. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus Mining is based in Toronto, Canada.

 

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-415 695459 9855361 1017 317 -66 Drill moving to site
CURI-414 695440 9855274 1028 164 -73 In Progress
CURI-413 695454 9855407 1025 165 -75 237.60 Successfully completed per design
CURI-412 695440 9855274 1028 203 -75 269.40 Successfully completed per design
CURI-411 695177 9855005 929 69 -69 176.00 Successfully completed per design
CURI-410 695440 9855274 1028 210 -65 314.30 Successfully completed per design
CURI-409 695400 9855298 1017 301 -71 264.25 Successfully completed per design
CURI-408 695400 9855298 1017 127 -69 243.60 Successfully completed per design
CURI-407 695431 9855413 1007 12 -62 203.00 Successfully completed per design
CURI-406 695269 9855341 1000 270 -78 221.15 Successfully completed per design
CURI-405 695431 9855413 1007 317 -69 247.60 Successfully completed per design
CURI-404 695309 9855341 1000 210 -67 286.90 Successfully completed per design
CURI-403 695181 9855413 1007 331 -62 257.15 Successfully completed per design
CURI-402 695400 9855298 1017 239 -79 245.30 Successfully completed per design
CURI-401 695375 9855400 996 238 -73 224.00 Successfully completed per design
CURI-400 695400 9855298 1017 237 -67 284.10 Successfully completed per design
CURI-399 695375 9855400 996 41 -65 212.25 Successfully completed per design
CURI-398 695400 9855298 1017 196 -71 272.00 Successfully completed per design
CURI-397 695271 9855452 985 178 -81 208.80 Successfully completed per design
CURI-396 695394 9855668 957 252 -68 179.45 Successfully completed per design
CURI-395 695349 9855650 972 151 -64 211.50 Successfully completed per design
CURI-394 695436 9855590 980 241 -73 216.30 Successfully completed per design
CURI-393 695394 9855668 957 159 -72 96.00 Successfully completed per design
CURI-392 695395 9855600 994 122 -65 224.95 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 for El Domo (CNW Group/Adventus Mining Corporation)

 

Posted November 15, 2022

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