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Adventus and Salazar announce additional 2018 drill results at the Curipamba project, including 3.71 metres of 3.00% copper, 36.55 g/t gold, 32.17% zinc, 411.3 g/t silver and 6.80% lead
TORONTO, Aug. 20, 2018 /CNW/ – Adventus Zinc Corporation (“Adventus”) (TSX-V: ADZN) and Salazar Resources Limited (“Salazar”) (TSX-V: SRL, collectively the “Partners”) are pleased to announce additional drill holes from the 2018 infill drilling program on the El Domo volcanogenic massive sulphide (“VMS”) deposit; which is part of the approximately 22,000-hectare Curipamba project located near Las Naves, Ecuador.
Highlights
- CURI-278 intersected 4.58 metres of 5.29% copper, 19.60 g/t gold, 31.75% zinc, 364.2 g/t silver, and 2.88% lead for 35.92% CuEq;
- CURI-285 intersected 8.16 metres of 2.17% copper, 19.67 g/t gold, 23.17% zinc, 229.0 g/t silver, and 4.01% lead for 28.40% CuEq; including 3.71 metres of 3.00% copper, 36.55 g/t gold, 32.17% zinc, 411.3 g/t silver, and 6.80% lead for 47.02% CuEq; and
- CURI-288 intersected 18.55 metres of 5.05% copper, 0.98 g/t gold, 0.19% zinc, 12.6 g/t silver, and 0.02% lead for 5.92% CuEq.
El Domo Infill Drilling Results
The infill drilling program commenced in early March 2018 with the objective of upgrading the confidence level of the higher-grade portion of the open-pit constrained Mineral Resource by decreasing drill spacing; which will also generate material for a planned metallurgical program in the second half of 2018. To date, drilling within higher-grade portion of the open-pit constrained Mineral Resource has successfully completed 42 out of 52 drill holes, with two drill holes in progress, for a total of 7,310 metres from a planned 7,500 metre work program. This phase of infill drilling is expected to be completed before the end of third quarter 2018.
Drill hole CURI-278 intersected massive sulphide mineralization from 55.98 to 60.56 metres for an approximate true thickness of 3.89 metres, grading 5.29% copper, 19.60 g/t gold, 31.75% zinc, 364.2 g/t silver, and 2.88% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-278
55.98
60.56
4.58
5.29
19.60
31.75
364.2
2.88
35.92
3.89
(1)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI-279 intersected massive sulphide mineralization from 59.52 to 62.20 metres for an approximate true thickness of 2.55 metres, grading 6.99% copper, 2.98 g/t gold, 4.43% zinc, 81.6 g/t silver, and 0.35% lead. A subset interval of massive sulphide mineralization possesses significantly higher-grade zinc from 59.52 to 61.19 metres, grading 7.33% copper, 4.50g/t gold, 6.78% zinc, 107.2 g/t silver, and 0.53% lead. It should be noted that the bottom of the massive sulphide intercept is faulted from 61.19 to 62.20 metres.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-279
59.52
62.20
2.68
6.99
2.98
4.43
81.6
0.35
11.73
2.55
including
59.52
61.19
1.67
7.33
4.50
6.78
107.2
0.53
14.36
1.59
(2)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI-281 intersected a fault zone from 68.08 to 73.07 metres for an approximate true thickness of 4.24 metres; however, the upper contact was well mineralized from 68.08 to 68.65 metres, grading 1.63% copper, 0.30 g/t gold, 15.87% zinc, 17.0 g/t silver and 0.03% lead. It is likely the massive sulphide horizon got caught up in the fault structure.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-281
68.08
68.65
0.57
1.63
0.30
15.87
17.0
0.03
8.37
0.48
(1)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
In CURI-285, massive sulphide mineralization was intersected twice, first from 60.25 to 63.46 metres for a true thickness of 2.73 metres, grading 2.98% copper, 13.77 g/t gold, 26.27% zinc, 213.4 g/t silver, and 1.73% lead; and secondly from 73.26 to 81.42 metres for a true thickness of 6.94 metres, grading 2.17% copper, 19.67 g/t gold, 23.17% zinc, 229.0 g/t silver, and 4.01% lead. A subset interval of the second massive sulphide mineralization is of even higher grade from 74.36 to 78.07 metres, grading 3.00% copper, 36.55 g/t gold, 32.17% zinc, 411.3 g/t silver, and 6.80% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-285
60.25
63.46
3.21
2.98
13.77
26.27
213.4
1.73
25.54
2.73
73.26
81.42
8.16
2.17
19.67
23.17
229.0
4.01
28.40
6.94
including
74.36
78.07
3.71
3.00
36.55
32.17
411.3
6.80
47.02
3.15
83.00
105.00
22.00
0.25
0.38
1.73
4.0
0.03
1.25
18.70
including
84.00
85.95
1.95
1.79
3.11
2.69
18.5
0.02
5.16
1.66
(1)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
In the footwall of the massive sulphide in CURI-285, the lower contact transitions into dacite volcaniclastic rocks and a wide intercept of low-grade stockwork that is mineralized and hydrothermally altered from 83.00 to 105.00 metres for a true thickness of 18.70 metres, grading 0.25% copper, 0.38 g/t gold, 1.73% zinc, 4.0 g/t silver, and 0.03% lead. A subset interval of semi-massive sulphide mineralization within the low-grade stockwork is of even higher grade from 84.00 to 85.95 metres, grading 1.79% copper, 3.11 g/t gold, 2.69% zinc, 18.53 g/t silver, and 0.02% lead.
Drill hole CURI-286 intersected an interval of precious metal-rich semi-massive mineralization that occurs from 52.37 to 55.86 metres for an approximate true thickness of 2.97 metres grading 0.66% copper, 11.26 g/t gold, 12.90% zinc, 111.6 g/t silver, and 1.65% lead. A subset interval of massive sulphide mineralization is of even higher grade from 52.37 to 55.17 metres, grading 0.66% copper, 13.69 g/t gold, 13.79% zinc, 135.5 g/t silver, and 2.05% lead. The bottom of the semi-massive sulphide mineralization is faulted from 55.17 to 55.86 metres.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-286
52.37
55.86
3.49
0.66
11.26
12.90
111.6
1.65
15.11
2.97
including
52.37
55.17
2.80
0.66
13.69
13.79
135.5
2.05
17.48
2.38
including
55.17
55.86
0.69
0.63
1.45
9.28
14.6
0.03
5.48
0.59
55.86
61.31
5.45
1.84
1.10
4.94
17.3
0.02
4.74
4.63
including
55.86
59.19
3.33
0.76
1.31
3.50
16.9
0.02
3.22
2.83
including
59.19
61.31
2.12
3.54
0.76
7.20
17.9
0.01
7.12
1.80
(1)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI-286 also intersected below low-grade stockwork directly underneath the fault zone from 55.86 to 61.31 metres for an approximate true thickness of 4.63 metres grading 1.84% copper, 1.10 g/t gold, 4.94% zinc, 17.3 g/t silver, and 0.02% lead. A subset interval of semi-massive sulphide mineralization within the low-grade stockwork is of even higher grade from 59.19 to 61.31 metres, grading 3.54% copper, 0.76 g/t gold, 7.20% zinc, 17.9 g/t silver, and 0.01% lead.
Drill hole CURI-287 intersected a wide interval of massive sulphide mineralization that occurs from 98.53 to 114.00 metres for an approximate true thickness of 14.70 metres grading 3.02% copper, 1.31 g/t gold, 1.09% zinc, 16.2 g/t silver, and 0.03% lead. A subset interval of massive sulphide mineralization is of even higher grade from 108.77 to 111.83 metres, grading 10.24% copper, 1.59 g/t gold, 4.46% zinc, 37.9 g/t silver, and 0.02% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-287
98.53
114.00
15.47
3.02
1.31
1.09
16.2
0.03
4.52
14.70
including
98.53
105.40
6.87
0.33
1.69
0.36
9.8
0.02
1.72
6.53
including
105.40
107.70
2.30
1.71
0.61
0.04
5.4
0.01
2.20
2.19
including
107.70
114.00
6.30
6.42
1.14
2.28
27.0
0.05
8.39
5.99
including
108.77
111.83
3.06
10.24
1.59
4.46
37.9
0.02
13.49
2.91
114.00
121.86
7.86
1.37
0.40
0.15
8.5
0.03
1.80
7.47
(1)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI-287 also intersected well-mineralized gypsum hydrothermal alteration underneath the massive sulphide mineralization from 114.00 to 121.86 metres for an approximate true thickness of 7.47metres grading 1.37% copper, 0.40 g/t gold, 0.15% zinc, 8.5 g/t silver, and 0.03% lead.
Drill hole CURI-288 intersected grainstone, a resedimented volcaniclastic rock with massive sulphide clasts, from 36.73 to 51.30 metres for an approximate true thickness of 12.38; however, only the interval from 44.00 to 50.27 metres had any significant mineralization, grading 4.20% copper, 6.16 g/t gold, 7.90% zinc, 172.7 g/t silver and 0.86% lead. A subset interval of possessing the largest number of massive sulphide clasts is of even higher grade from 46.35 to 48.10 metres, grading 11.16% copper, 14.30 g/t gold, 21.13% zinc, 461.0 g/t silver, and 1.93% lead.
Drill hole CURI-288 also intersected massive sulphide mineralization from 60.00 to 78.55 metres for an approximate true thickness of 15.77 metres grading 5.05% copper, 0.98 g/t gold, 0.19% zinc, 12.6 g/t silver, and 0.02% lead. A subset interval of massive sulphide mineralization is of even higher grade from 60.00 to 63.40 metres, grading 14.11% copper, 1.29 g/t gold, 0.13% zinc, 29.4 g/t silver, and 0.01% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-288
44.00
50.27
6.27
4.20
6.16
7.90
172.7
0.86
13.58
5.33
including
46.35
48.10
1.75
11.16
14.30
21.13
461.0
1.93
34.65
1.49
60.00
78.55
18.55
5.05
0.98
0.19
12.6
0.02
5.92
15.77
including
60.00
63.40
3.40
14.11
1.29
0.13
29.4
0.01
15.34
2.89
including
66.17
71.08
4.91
6.31
0.85
0.06
10.0
0.01
7.01
4.17
including
75.50
78.55
3.05
2.06
0.54
0.08
4.0
0.01
2.50
2.59
(1)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI-282, CURI-283, and CURI-284 were designed to test the limits of the known massive sulphide mineralization and further assess the pit wall geology and yielded no significant results. These drill holes confirmed modelling done by RPA along the margins of the deposit and provide excellent geological control for future modelling studies.
Some drill holes had fault related intercepts where it is possible the mineralized horizon has been caught up in a structure. Drill hole CURI-276 intersected mineralization in a fault that appears as sulphide fragments from 78.00 to 90.00 metres for a true thickness of 10.20 metres grading 0.28% copper, 1.69 g/t gold, 2.18% zinc, 39.3 g/t silver, and 0.40% lead. Drill hole CURI-280 intersected weak mineralization in a fault from 43.46 to 44.14 metres for a true thickness of 0.58 metres grading 0.25% copper, 1.01 g/t gold, 3.76% zinc, 45.0 g/t silver, and 0.20% lead. Drill hole CURI-289 intersected semi-massive sulphide mineralization structurally intermixed with dacite volcaniclastic rocks from 50.15 to 59.00 metres for an approximate true thickness of 7.52 metres grading 0.18% copper, 0.46 g/t gold, 0.68% zinc, 13.4 g/t silver, and 0.06% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu (%)
Au (g/t)
Zn (%)
Ag (g/t)
Pb (%)
CuEq(1)
(%)
Approx. True
Thickness (m)CURI-276
78.00
90.00
12.00
0.28
1.69
2.18
39.3
0.40
2.83
10.20
CURI-280
43.46
44.14
0.68
0.25
1.01
3.76
45.0
0.20
2.97
0.58
CURI-289
50.15
59.00
8.85
0.18
0.46
0.68
13.4
0.06
0.92
7.52
(1)
Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery, as this is still an early stage project
The locations of all drill holes referenced in this press release are shown on the Curipamba Project drill plan map, which is available on the Adventus website.
Technical Information and Quality Control & Quality Assurance (“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 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 classical fire assay techniques with an ICP-AES finish, and both silver and base metals are analyzed by a 44-element aqua regia ICP-AES technique. Overlimit protocols are in place for gold, silver, copper, lead, and zinc.
Infill drilling continues to yield intercepts of high-grade, copper- and gold-rich semi-massive to massive sulphide mineralization within the open-pit constrained Mineral Resource update for the El Domo VMS deposit completed by Roscoe Postle Associates Inc. (“RPA”). The Indicated Mineral Resource totals 8.8 million tonnes grading 1.62% copper, 2.34 g/t gold, 2.42% zinc, 48.0 g/t silver, and 0.27% lead. The Inferred Mineral Resource totals 2.6 million tonnes grading 1.29% copper, 1.09 g/t gold, 1.51% zinc, 29.0 g/t silver, and 0.14% lead (see January 31, 2018 news release). The National Instrument (“NI”) 43-101 Technical Report was authored by Independent Qualified Person Dr. Lars Weiershäuser, P.Geo., of RPA (based in Toronto, Ontario, Canada) who is a Qualified Person as defined by NI 43-101.
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 Zinc is a well-financed company focused on base metals exploration and project development globally. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Resource Capital Funds, and Wheaton Precious Metals Corp.; as well as other highly respected investors in the mining business. The focus of Adventus is the advancement of the Curipamba copper-gold-zinc 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, incorporating two projects to date. Elsewhere globally, Adventus owns a large prospective mineral land package in Ireland totalling 1,950 km2 and, through its ownership interest in Canstar Resources Inc., is actively participating in the exploration upside of a prospective mineral land package in Newfoundland and Labrador, Canada totalling 550 km2. Adventus is based in Toronto, Canada, and is listed on the TSX-V under the symbol ADZN.
About Salazar
Salazar is a publicly-listed mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador, including Aurelian’s Fruta Del Norte discovery, Mozo Deposit, Ex Newmont’s Cangrejos Project and International Minerals Rio Blanco and Gaby Deposit. Being an Ecuadorian-based company gives the Company a strategic advantage enabling the Company to complete exploration at a rapid pace. With an excellent property portfolio (6 projects – 33,383 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.
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.
SOURCE Adventus Zinc Corporation
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