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Ecuador
Tres Picachos
- Southern extent of the porphyry rich Zamora copper gold metallogenic belt
- Various pulses of the Zamora Batholith
- High grade Cu-Mo-Ag-Au discovery with significant exploration upside
- 22 km south of Sol Gold’s Porvenir porphyry target40 km 100 m spaced continuous ground magnetic survey completed in Dec 2018
- Initial exploration has Cu soil anomaly and outcropping Cu-Mo veins
- 40 km 100 m spaced continuous ground magnetic survey completed in Dec 2018
JOGMEC Earn-in
In March 4th, 2024, Adventus entered into a binding interim agreement for an earn-in and joint venture with Japan Organization for Metals and Energy Security (“JOGMEC”), for the Tres Picachos mineral concession in Ecuador owned by Adventus. JOGMEC has the right to earn a 75% ownership interest in Tres Picachos by investing an aggregate US$5 million between now and March 31, 2028. The first-year work program will consist of stream sediment samples, soil sampling, rock sampling, surface mapping, extension of the ground magnetics and an Induced Polarization (IP) program. This work program is intended to identify and prioritize potential drill targets and is expected to commence in April 2024. (See March 4, 2024 news release – link)
Geology & Location
Tres Picachos is located in Zamora province at the southern end of the porphyry-rich Zamora Cu-Au metallogenic belt. Hybrid porphyry-style mineralization at Tres Picachos comprises magnetite vein (M-type vein) and tourmaline breccia-hosted copper sulphide mineralization assaying up to 9.87% Cu and up 56 ppm Ag. Another newer area is a Cu-bearing hydrothermal breccia outcropping over 30m wide with one a the samples assaying 1,08 % Cu and averaging 0.5% Cu.
Luminex’s predecessor company, Odin Mining, inititally detected a soil Cu-anomaly at the base of a fault scarp that exhumes the M-types veins. Exploration in 2017 has gradually expanded upon the overall mineralized zone. A 40 km ground magnetic survey was completed Q4-2018. This 100 m spaced continuous magnetic survey mapped out the array of M-veins and thereby determined their density. An exploration camp have been constructed at the center of the concession.
Qualified Person
Leo Hathaway, P.Geo, a “qualified person” within the definition of that term in NI 43-101, has reviewed and approved the scientific and technical information contained on this page.
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