TORONTO, Aug. 9, 2021 /CNW/ - Adventus Mining
Corporation ("Adventus") (TSXV: ADZN) (OTCQX:
ADVZF) and Salazar Resources Limited
("Salazar") (TSXV: SRL) (OTCQB:
SRLZF) (collectively the "Partners") are pleased to
announce the identification of a new volcanogenic massive sulphide
("VMS") system approximately 4.5 km southwest of the El Domo VMS
deposit ("El Domo") located within the 21,537-hectare Curipamba
project in central Ecuador.
Highlights – Drill Results from the Agua Santa Target at
Curipamba:
- CREG-008 was the first drill hole at the Agua Santa target and
intersected 6.34 metres of 1.77% copper, 1.46 g/t gold, 7.45% zinc,
23.2 g/t silver, and 0.24% lead – including 1.40 metres of 1.58%
copper, 2.67 g/t gold, 31.20% zinc, 55.0 g/t silver, and 1.01%
lead
- One drill rig is actively working at Agua Santa following up
the massive sulphide mineralization identified in drill hole
CREG-008
Regional drilling on the Agua Santa target (Figure 1) started
mid-June 2021 and six drill holes
have been successfully completed totaling 1,588 metres with one
drill hole in progress. VMS mineralization was identified in the
first drill hole of the work program designed to test the edge of a
Mobile MT ("MMT") airborne geophysical anomaly (Figure 1) that
coincided with both favourable geology and surface geochemistry
results from prospecting in nearby creek beds. The drill site
location was limited due to limited access to surface rights, but
the Partners have recently purchased additional surface rights
providing wider access and coverage of the MMT geophysical anomaly
for additional drilling.
Figure 1: Drill Collar Location Map
Drill hole CREG-008 (Figure 2) intersected a different volcanic
stratigraphy than El Domo, dominated by mafic volcanic rocks with
massive sulphide intersected in three separate intervals from 60.52
to 66.86 metres with variably mineralized volcaniclastic rocks in
between the massive sulphide, noting the highly fragmental
appearance of the mineralization.
Figure 2: Drill Section – First drill hole CREG-008 at the
Agua Santa target
Drill
Hole
|
From
(m)
|
To
(m)
|
Thickness
(m)
|
Cu
(%)
|
Au
(g/t)
|
Zn
(%)
|
Ag
(g/t)
|
Pb
(%)
|
Approx. True
Thickness (m) (1)
|
CREG-008
|
60.52
|
66.86
|
6.34
|
1.77
|
1.46
|
7.45
|
23.2
|
0.24
|
N/A
|
including
|
60.52
|
61.92
|
1.40
|
1.58
|
2.67
|
31.20
|
55.0
|
1.01
|
N/A
|
(1)
|
This is an
early-stage exploration project, meaning geological modeling has
not determined the orientation of stratigraphy to accurately
determine an approximate true thickness for lithologies and
mineralization
|
In the footwall of the massive sulphide mineralization in
CREG-008, several broad zones of pyritic stringer stockwork in
massive mafic volcanic rocks were observed with focused
hydrothermal alteration halos directly around the
mineralization. The strongest occurrence of pyritic stringer
stockwork in CREG-008 occurs from 158.00 to 164.60 metres of
semi-massive to massive sulphide. No significant results were
obtained from the pyritic stringer stockwork. Analytical results
from the additional drill holes at Agua Santa will be released once
data has been received from the laboratory and the results have
passed the Partners' quality assurance and quality control ("QAQC")
protocols. Drill collar locations of all drill holes are presented
in Table 1.
As a result of the identification of this new VMS system, the
Partners have increased the regional drilling budget from 4,000
metres to 6,000 metres in 2021, principally to further assess the
Agua Santa area. Other high priority targets defined during the
2020 target generation initiative process remain untested (see
January 21, 2020 news release). Of
key importance is that most of these targets are new and have not
seen significant exploration or drilling historically.
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 ("BV") 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
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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This press release contains "forward -looking information"
within the meaning of applicable Canadian securities laws. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
identified by words or phrases such as "believes", "anticipates",
"expects", "is expected", "scheduled", "estimates", "pending",
"intends", "plans", "forecasts", "targets", or "hopes", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "will",
"should" "might", "will be taken", or "occur" and similar
expressions) are not statements of historical fact and may be
forward-looking statements.
Forward-looking information herein includes, but is not limited
to, statements that address activities, events, or developments
that Adventus and Salazar expect or anticipate will or may occur in
the future. Although Adventus and Salazar have attempted to
identify important factors that could cause actual actions, events,
or results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated, or
intended. There can be no assurance that such information will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. Adventus and Salazar undertake to
update any forward-looking information except in accordance with
applicable securities laws.
Please also visit the Adventus website at www.adventusmining.com
and LinkedIn page at
https://www.linkedin.com/company/adventus-mining-corporation.
Table 1: Drill Collar Information (UTM Datum – Provisional
South American 1956, Zone 17)
Hole
ID
|
EAST
|
NORTH
|
ELEV
|
AZIMUTH
|
DIP
|
DEPTH
|
COMMENT
|
CREG-008
|
691805
|
9851410
|
448
|
270
|
-50
|
323.90
|
Successfully
completed per design
|
CREG-009
|
691855
|
9851475
|
445
|
270
|
-50
|
258.35
|
Successfully
completed per design; results pending
|
CREG-010
|
691778
|
9851372
|
453
|
270
|
-50
|
284.90
|
Successfully
completed per design; results pending
|
CREG-011
|
691805
|
9851410
|
448
|
270
|
-85
|
242.45
|
Successfully
completed per design; results pending
|
CREG-012
|
691908
|
9851586
|
460
|
270
|
-50
|
284.55
|
Successfully
completed per design; results pending
|
CREG-013
|
691859
|
9851410
|
420
|
270
|
-85
|
203.25
|
Successfully
completed per design; results pending
|
CREG-014
|
691705
|
9851410
|
465
|
270
|
-50
|
N/A
|
In
Progress
|
SOURCE Adventus Mining Corporation