Adventus Zinc Corp. and Salazar Resources announce additional 2018 drill results at the Curipamba project
Including 5.09 metres of 2.67% copper, 20.95 g/t gold, 38.46% zinc, 338.8 g/t silver and 5.32% lead for 37.45% copper-equivalent (“CuEq“)TORONTO, July 23, 2018 - Adventus Zinc Corp. ("Adventus") (TSX-V: ADZN) and Salazar Resources Ltd. ("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-270 intersected 4.12 metres of 2.27% copper, 14.31 g/t gold, 33.36% zinc, 526.8 g/t silver, and 3.78% lead for 31.96% CuEq;
- CURI-272 intersected 9.98 metres of 2.58% copper, 11.48 g/t gold, 22.72% zinc, 265.8 g/t silver, and 2.73% lead for 23.06% CuEq; including 5.09 metres of 2.67% copper, 21.59 g/t gold, 38.46% zinc, 338.8 g/t silver, and 5.32% lead for 37.88% CuEq; and
- CURI-275 intersected 4.00 metres of 4.36% copper, 22.82 g/t gold, 16.56% zinc, 250.5 g/t silver, and 3.53% lead for 31.03% 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 34 out of 52 drill holes with two drill holes in progress. Approximately 6,060 metres from a planned 7,500 metre work program has been successfully completed, and this phase of infill drilling is expected to be completed by mid-third quarter 2018.
Drill hole CURI-270 intersected massive sulphide mineralization from 55.60 to 59.72 metres for an approximate true thickness of 3.91 metres, grading 2.27% copper, 14.31 g/t gold, 33.36% zinc, 526.8 g/t silver, and 3.78% lead. A subset interval of massive sulphide mineralization possesses significantly higher-grade zinc from 57.85 to 59.72 metres, grading 3.07% copper, 6.32g/t gold, 49.73% zinc, 255.4 g/t silver, and 1.69% lead.
| Drill Hole
| From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-270 | 55.60 | 59.72 | 4.12 | 2.27 | 14.31 | 33.36 | 526.8 | 3.78 | 31.96 | 3.91 |
| including | 55.60 | 57.85 | 2.25 | 1.60 | 20.95 | 19.75 | 752.4 | 5.50 | 33.23 | 2.14 |
| including | 57.85 | 59.72 | 1.87 | 3.07 | 6.32 | 49.73 | 255.4 | 1.69 | 30.42 | 1.78 |
| 59.72 | 84.00 | 24.28 | 0.20 | 0.50 | 2.11 | 8.0 | 0.08 | 1.49 | 23.07 | |
| including | 65.76 | 84.00 | 18.24 | 0.22 | 0.40 | 2.46 | 7.6 | 0.08 | 1.58 | 17.33 |
| including | 67.53 | 72.00 | 4.47 | 0.12 | 1.07 | 2.12 | 7.0 | 0.13 | 1.80 | 4.25 |
| (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-270 also intersected a wide section of low-grade stockwork directly below the massive sulphide mineralization from 59.72 to 84.00 metres for an approximate true thickness of 23.07 metres grading 0.20% copper, 0.50 g/t gold, 2.11% zinc, 8.0 g/t silver, and 0.08% lead. A subset interval of higher-grade gold content occurs from 67.53 to 72.00 metres grading 0.12% copper, 1.07 g/t gold, 2.12% zinc, 7.0 g/t silver, and 0.13% lead.
Drill hole CURI-272 intersected both massive and semi-massive sulphide mineralization from 55.18 to 65.16 metres for an approximate true thickness of 8.48 metres grading 2.58% copper, 11.48 g/t gold, 22.72% zinc, 265.8 g/t silver and 2.73% lead. A subset interval of higher-grade occurs from 55.18 to 60.27 metres grading 2.67% copper, 21.59 g/t gold, 38.46% zinc, 338.8 g/t silver, and 5.32% lead. Semi-massive sulphide mineralization occurs from 60.27 to 65.16 metres, grading 2.49% copper, 0.96 g/t gold, 6.34% zinc, 189.7 g/t silver, and 0.03% lead.
| Drill Hole
| From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-272 | 55.18 | 65.16 | 9.98 | 2.58 | 11.48 | 22.72 | 265.8 | 2.73 | 23.06 | 8.48 |
| including | 55.18 | 60.27 | 5.09 | 2.67 | 21.59 | 38.46 | 338.8 | 5.32 | 37.88 | 4.33 |
| including | 60.27 | 65.16 | 4.89 | 2.49 | 0.96 | 6.34 | 189.7 | 0.03 | 7.64 | 4.16 |
| 66.28 | 73.74 | 7.46 | 0.45 | 0.23 | 0.56 | 8.1 | 0.05 | 0.93 | 6.34 |
| (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 |
Low-grade stockwork mineralization was also intersected 66.28 to 73.74 metres for an approximate true thickness of 6.34 metres grading 0.45% copper, 0.23 g/t gold, 0.56% zinc, 8.1 g/t silver, and 0.05% lead.
In CURI-273, only a narrow high-grade section of the VMS mineralization was intersected with the top contact denoted by a fault zone. The massive sulphide mineralization occurs from 68.65 to 69.00 metres for a true thickness of 0.33 metres, grading 2.85% copper, 4.07 g/t gold, 24.46% zinc, 356.0 g/t silver, and 1.26% lead. Immediately below the lower contact of the massive sulphide mineralization, the dacite volcaniclastic rocks are well mineralized and hydrothermally altered over a short interval from 69.00 to 69.55 metres, grading 1.90% copper, 0.60 g/t gold, 4.45% zinc, 69.0 g/t silver, and 0.01% lead.
| Drill Hole
| From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-273 | 68.65 | 69.00 | 0.35 | 2.85 | 4.07 | 24.46 | 356.0 | 1.26 | 19.47 | 0.33 |
| 69.00 | 69.55 | 0.55 | 1.90 | 0.60 | 4.45 | 69.0 | 0.01 | 4.80 | 0.52 | |
| 118.03 | 128.69 | 10.66 | 0.08 | 0.57 | 1.22 | 16.4 | 0.18 | 1.18 | 10.13 |
| (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-273 also intersected low-grade stockwork from 118.03 to 128.69 metres for an approximate true thickness of 10.13 metres grading 0.08% copper, 0.57 g/t gold, 1.22% zinc, 16.4 g/t silver, and 0.18% lead.
Drill hole CURI-275 intersected an interval of precious metal-rich massive sulphide to semi-massive mineralization that occurs from 58.00 to 62.00 metres for an approximate true thickness of 3.60 metres grading 4.36% copper, 22.82 g/t gold, 16.56% zinc, 250.5 g/t silver, and 3.53% lead. A subset interval of massive sulphide mineralization is of even higher grade from 58.00 to 59.97 metres, grading 7.25% copper, 30.83 g/t gold, 16.95% zinc, 322.4 g/t silver, and 3.93% lead.
| Drill Hole
| From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-275 | 58.00 | 62.00 | 4.00 | 4.36 | 22.82 | 16.56 | 250.5 | 3.53 | 31.03 | 3.60 |
| including | 58.00 | 59.97 | 1.97 | 7.25 | 30.83 | 16.95 | 322.4 | 3.93 | 39.44 | 1.77 |
| including | 59.97 | 62.00 | 2.03 | 1.50 | 14.73 | 15.80 | 176.3 | 3.09 | 20.60 | 1.83 |
| 62.00 | 67.43 | 5.43 | 0.25 | 0.35 | 1.23 | 10.2 | 0.07 | 1.11 | 4.89 |
| (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-275 also intersected low-grade stockwork directly underneath the massive sulphide mineralization from 62.00 to 67.43 metres for an approximate true thickness of 4.89 metres grading 0.25% copper, 0.35 g/t gold, 1.23% zinc, 10.2 g/t silver, and 0.07% lead.
Massive sulphide mineralization in drill hole CURI-277 has been caught up in a fault zone from 66.25 to 68.80 metres, so a representation of the true thickness may not be accurate. However, the mineralization has an apparent true thickness of 2.42 metres, grading 2.99% copper, 7.52 g/t gold, 9.51% zinc, 177.3 g/t silver, and 0.94% lead.
| Drill Hole
| From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-277 | 66.25 | 68.80 | 2.55 | 2.99 | 7.52 | 9.51 | 177.3 | 0.94 | 14.00 | 2.42 |
| 85.36 | 96.30 | 10.94 | 0.62 | 0.14 | 1.71 | 5.5 | 0.04 | 1.47 | 10.39 | |
| including | 94.42 | 96.30 | 1.88 | 1.61 | 0.06 | 7.50 | 8.0 | 0.03 | 4.74 | 1.79 |
| (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-277 also intersected a wide section of low-grade stockwork below the massive sulphide mineralization from 85.36 to 96.30 metres for an approximate true thickness of 10.39 metres grading 0.62% copper, 0.14 g/t gold, 1.71% zinc, 5.5 g/t silver, and 0.04% lead. A subset interval of higher-grade gold content occurs from 94.42 to 96.30 metres grading 1.61% copper, 0.06 g/t gold, 7.50% zinc, 8.0 g/t silver, and 0.03% lead.
Drill hole CURI-255 was designed to test the southerly limits of the known massive sulphide mineralization and further assess the pit wall geology. This drill hole intersected favourable strata including both the grainstone, which is a resedimented volcaniclastic unit containing pebbles and cobbles of massive sulphide mineralization, and a fine-grained felsic volcaniclastic tuff-sized material known to occur directly above the massive sulphide mineralization; however, no semi-massive to massive sulphide minerals were intersected. CURI-269 also did not intersect massive sulphide mineralization; however, it did intersect a low-grade stockwork zone within dacite volcaniclastic rocks from 86.50 to 98.37 metres that corresponds to other similar low-grade stockwork zones stratigraphically below El Domo. These drill holes confirmed modelling done by RPA along the margins of the deposit and provide excellent geological control for future modelling studies.
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 Corp., Greenstone Resources LP, Resource Capital Funds, and Wheaton Precious Metals Corp.; as well as other highly respected investors in the mining business. Adventus Zinc currently has large prospective land packages in both Ireland and Newfoundland and Labrador, Canada (the latter currently subject to a reverse take-over with Canstar Resources Inc.), and is earning a 75% ownership interest in the Curipamba copper-gold-zinc project in Ecuador. In addition, Adventus Zinc has a country-wide exploration alliance with its partners in Ecuador, incorporating two projects to date. Adventus Zinc 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 Corp.
Contact
For further information from Adventus, please contact Christian Kargl-Simard, Chief Executive Officer, at 1-416-230-3440 or christian@adventuszinc.com; For further information from Salazar, please contact ir@salazarresources.com.
