Adventus and Salazar announce additional 2018 drill results at the Curipamba project, including 8.70 metres of 11.31% copper, 7.81 g/t gold, 6.57% zinc, 90.9 g/t silver and 0.44% lead
TORONTO, Oct. 31, 2018 - Adventus Zinc Corp. ("Adventus") (TSX-V: ADZN; OTCQX: ADVZF) 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-300 intersected 21.10 metres of 5.49% copper, 3.94 g/t gold, 2.77% zinc, 42.3 g/t silver, and 0.19% lead for 9.75% CuEq; including 8.70 metres of 11.31% copper, 7.81 g/t gold, 6.57% zinc, 90.9 g/t silver, and 0.44% lead for 20.28% CuEq; and
- CURI-301 intersected 17.23 metres of 3.75% copper, 3.12 g/t gold, 3.32% zinc, 48.5 g/t silver, and 0.21% lead for 7.75% CuEq.
El Domo Infill Drilling Results
The first phase of infill drilling 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. The Partners have now completed the first phase of infill drilling within the higher-grade portion of the open-pit constrained Mineral Resource with 8,587 metres drilled. An optimized Phase 2 infill drilling program is now in progress for the remainder of the open-pit constrained Mineral Resource; which is anticipated to be completed in late fourth quarter of 2018.
Drill hole CURI-300 intersected a gold-rich zone of fault-entrained massive sulphide mineralization from 64.35 to 69.00 metres for an approximate true thickness of 1.48 metres grading 1.74% copper, 10.93 g/t gold, 13.60% zinc, 393.5 g/t silver, and 2.03% lead. Massive sulphide mineralization was then intersected from 69.00 to 90.10 metres for an approximate true thickness of 17.94 metres, grading 5.49% copper, 3.94 g/t gold, 2.77% zinc, 42.3 g/t silver, and 0.19% lead. A subset interval of massive sulphide mineralization contains significantly higher-grade from 69.00 to 77.70 metres, grading 11.31% copper, 7.81 g/t gold, 6.57% zinc, 90.9 g/t silver, and 0.44% lead.
| Drill Hole | From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-300 | 64.35 | 69.00 | 4.65 | 1.74 | 10.93 | 13.60 | 393.5 | 2.03 | 19.28 | 1.48 |
| 69.00 | 90.10 | 21.10 | 5.49 | 3.94 | 2.77 | 42.3 | 0.19 | 9.75 | 17.94 | |
| including | 69.00 | 77.70 | 8.70 | 11.31 | 7.81 | 6.57 | 90.9 | 0.44 | 20.28 | 7.40 |
| (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-301 intersected massive to semi-massive sulphide mineralization occurs from 47.41 to 64.64 metres for a true thickness of 15.51 metres, grading 3.75% copper, 3.12 g/t gold, 3.32% zinc, 48.5 g/t silver, and 0.21% lead. A subset interval of massive sulphide mineralization possesses significantly higher-grade from 47.41 to 50.12 metres, grading 9.21% copper, 11.91 g/t gold, 17.69% zinc, 220.6 g/t silver, and 1.21% lead.
| Drill Hole | From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-301 | 47.41 | 64.64 | 17.23 | 3.75 | 3.12 | 3.32 | 48.5 | 0.21 | 7.75 | 15.51 |
| including | 47.41 | 50.12 | 2.71 | 9.21 | 11.91 | 17.69 | 220.6 | 1.21 | 26.99 | 2.44 |
| including | 56.04 | 59.70 | 3.66 | 5.19 | 1.69 | 2.29 | 32.5 | 0.05 | 7.60 | 3.29 |
| including | 61.87 | 64.64 | 2.77 | 5.65 | 1.65 | 0.12 | 14.3 | 0.01 | 6.96 | 2.49 |
| (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 |
CURI-302 intersected a fault-entrained portion of massive sulphide from 71.47 to 74.57 metres for a true thickness of 2.95 metres, grading 0.50% copper, 3.39 g/t gold, 8.02% zinc, 82.0 g/t silver, and 0.96% lead at the at between the hanging wall lapilli resedimented volcaniclastic rocks and footwall dacite autobreccia volcaniclastic rocks. A subset of the faulted massive sulphide had higher grades from 72.60 to 73.74 metres, grading 0.48% copper, 6.96 g/t gold, 18.65% zinc, 175.5 g/t silver, and 2.44% lead.
| Drill Hole | From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-302 | 71.47 | 74.57 | 3.10 | 0.50 | 3.39 | 8.02 | 82.0 | 0.96 | 7.16 | 2.95 |
| including | 72.60 | 73.74 | 1.14 | 0.48 | 6.96 | 18.65 | 175.5 | 2.44 | 15.26 | 1.08 |
| (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-303, a section of low-grade stockwork in the footwall dacite volcaniclastic rocks was intersected from 50.42 to 101.07 metres for a true thickness of 45.59 metres, grading 0.06% copper, 0.15 g/t gold, 0.76% zinc, 6.6 g/t silver, and 0.03% lead. A subset possessed slightly higher grades from 50.42 to 72.00 metres, grading 0.09% copper, 0.20 g/t gold, 1.16% zinc, 11.2 g/t silver, and 0.05% lead.
| Drill Hole | From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-303 | 50.42 | 101.07 | 50.65 | 0.06 | 0.15 | 0.76 | 6.6 | 0.03 | 0.54 | 45.59 |
| 50.42 | 72.00 | 21.58 | 0.09 | 0.20 | 1.16 | 11.2 | 0.05 | 0.82 | 19.42 |
| (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-298, CURI-304, and CURI-305 intersected gold-rich grainstone above a highly pyritic, lower-grade massive sulphide unit. CURI-306 did not intersect mineralized grainstone, however, did have massive sulphide and semi-massive sulphide units separated by a zone of intense gypsum hydrothermal alteration. Results for these drill holes is tabulated below.
| Drill Hole | From (m) | To (m) | Thickness (m) | Cu | Au | Zn | Ag | Pb | CuEq(1) (%) | Approx. True |
| CURI-298 | 75.10 | 78.48 | 3.38 | 0.57 | 0.98 | 0.47 | 16.3 | 0.09 | 1.62 | 3.21 |
| 115.27 | 125.17 | 9.90 | 0.65 | 0.34 | 0.19 | 5.6 | 0.02 | 1.02 | 9.41 | |
| CURI-304 | 92.43 | 97.17 | 4.74 | 0.58 | 3.10 | 2.59 | 57.7 | 0.42 | 4.44 | 4.03 |
| 102.67 | 115.00 | 12.33 | 0.50 | 1.30 | 0.10 | 7.7 | 0.00 | 1.49 | 10.48 | |
| CURI-305 | 102.84 | 113.75 | 10.91 | 0.71 | 2.78 | 2.64 | 63.0 | 0.28 | 4.38 | 10.36 |
| 113.75 | 115.70 | 1.95 | 0.59 | 1.46 | 2.24 | 26.8 | 0.18 | 2.81 | 1.85 | |
| 119.78 | 123.00 | 3.22 | 0.06 | 0.91 | 0.03 | 5.9 | 0.00 | 0.75 | 3.06 | |
| CURI-306 | 133.61 | 191.10 | 1.36 | 1.28 | 0.35 | 0.26 | 8.4 | 0.02 | 1.71 | 1.29 |
| (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 holes CURI-299 was designed to test the westerly limits of the known massive sulphide mineralization and further assess the pit wall geology, and if there was low-grade stockwork below favourable strata. These drill holes all intersected favourable strata; however, no semi-massive to massive sulphide mineralization was intersected.
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 Corp., 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 and trades on the OTCQX under the symbol ADVZF.
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.
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SOURCE Adventus Zinc Corp.
Contact
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.