Highlights – Drill Results from the El Domo Deposit at Curipamba:
- CURI-346 intersected 12.40 metres of 3.37% copper, 4.78 g/t gold, 2.89% zinc, 57.4 g/t silver, and 0.38% lead for 8.74% CuEq. – including 5.70 metres of 6.29% copper, 9.73 g/t gold, 6.22% zinc, 119.8 g/t silver and 0.80% lead for 17.38% CuEq
- CURI-348 intersected 2.72 metres of 0.95% copper, 8.93 g/t gold, 12.32% zinc, 673.4 g/t silver, and 6.64% lead for 20.88% CuEq
- CURI-345 intersected 3.88 metres of 2.78% copper, 9.65 g/t gold, 3.11% zinc, 110.8 g/t silver, and 0.33% lead for 12.48% CuEq. – including 1.55 metres of 5.92% copper, 21.90 g/t gold, 6.78% zinc, 250.0 g/t silver and 0.74% lead for 27.81% CuEq
- CURI-347 intersected 38.10 metres of 0.58% copper, 1.04 g/t gold, 0.64% zinc, 25.8 g/t silver, and 0.13% lead for 1.90% CuEq
Figure 1 illustrates the drill locations for the four drill hole results outlined in this news release and the holes currently in the assay lab, or in progress. Drill collar location coordinates are summarized for the infill drilling program in Table 1 at the end of this news release.
Drill hole CURI-345 intersected well mineralized grainstone with massive sulphide clasts in the hanging wall of the massive sulphide mineralization from 53.52 to 57.40 metres, grading 2.78% copper, 9.65 g/t gold, 3.11% zinc, 110.8 g/t silver, and 0.33% lead (12.48% CuEq). A higher-grade subset was intersected from 54.65 to 56.20 metres, grading 5.92% copper, 21.90 g/t gold, 6.78% zinc, 250.0 g/t silver, and 0.74% lead (27.81% CuEq). Beneath the well mineralized grainstone, two mineralized fine-grained felsic tuffaceous or sediment units were intersected from 66.10 to 68.04 metres and 80.18 to 84.62 metres. These units graded respectively 2.97% copper, 6.43 g/t gold, 2.07% zinc, 73.5 g/t silver, and 0.40% lead (9.47% CuEq) and 0.32% copper, 1.41 g/t gold, 2.28% zinc, 55.4 g/t silver, and 0.56% lead (2.93% CuEq). Massive sulphide mineralization was intersected from 84.62 to 87.76 metres, grading 2.30% copper, 1.33 g/t gold, 0.72% zinc, 31.8 g/t silver and 0.02% lead (3.91% CuEq).
Drill Hole
| From (m) | To (m) | Thickness (m) | Cu (%) | Au (g/t) | Zn (%) | Ag | Pb (%) | CuEq (1) (%) | Approx. True |
CURI-345 | 53.52 | 57.40 | 3.88 | 2.78 | 9.65 | 3.11 | 110.8 | 0.33 | 12.48 | 2.72 |
including | 54.65 | 56.20 | 1.55 | 5.92 | 21.90 | 6.78 | 250.0 | 0.74 | 27.81 | 1.09 |
66.10 | 68.04 | 1.94 | 2.97 | 6.43 | 2.07 | 73.5 | 0.40 | 9.47 | 1.36 | |
80.18 | 84.62 | 4.44 | 0.32 | 1.41 | 2.28 | 55.4 | 0.56 | 2.93 | 3.11 | |
84.62 | 87.76 | 3.14 | 2.30 | 1.33 | 0.72 | 31.8 | 0.02 | 3.91 | 2.20 |
(1) | Metal equivalency based on |
Drill hole CURI-346 intersected well mineralized grainstone with massive sulphide clasts in the hanging wall of the massive sulphide mineralization from 51.64 to 57.50 metres, grading 2.74% copper, 4.92 g/t gold, 3.66% zinc, 111.1 g/t silver, and 0.33% lead (9.04% CuEq). A higher-grade subset was intersected from 56.16 to 57.50 metres, grading 4.25% copper, 10.70 g/t gold, 7.00% zinc, 241.0 g/t silver, and 0.56% lead (17.56% CuEq). Beneath the well mineralized grainstone, a single mineralized fine-grained felsic tuffaceous or sediment unit was intersected from 57.50 to 58.32 metres, grading 0.20% copper, 3.40 g/t gold, 0.66% zinc, 64.3 g/t silver, and 0.22% lead (3.74% CuEq). A thick section of massive sulphide mineralization was intersected from 68.70 to 81.10 metres, grading 3.37% copper, 4.78 g/t gold, 2.89% zinc, 57.4 g/t silver and 0.22% lead (8.74% CuEq). A higher-grade subset was intersected from 69.63 to 72.55 metres, grading 9.03% copper, 15.79 g/t gold, 8.19% zinc, 130.0 g/t silver and 0.59% lead (25.48% CuEq).
Drill Hole
| From (m) | To (m) | Thickness (m) | Cu (%) | Au (g/t) | Zn (%) | Ag | Pb (%) | CuEq (1) (%) | Approx. True |
CURI-346 | 51.64 | 57.50 | 5.86 | 2.74 | 4.92 | 3.66 | 111.1 | 0.33 | 9.04 | 5.27 |
Including | 56.16 | 57.50 | 1.34 | 4.25 | 10.70 | 7.00 | 241.0 | 0.56 | 17.56 | 1.21 |
57.50 | 59.32 | 1.82 | 0.20 | 3.40 | 0.66 | 64.3 | 0.22 | 3.74 | 1.64 | |
68.70 | 81.10 | 12.40 | 3.37 | 4.78 | 2.89 | 57.4 | 0.38 | 8.74 | 11.16 | |
including | 68.70 | 74.40 | 5.70 | 6.29 | 9.73 | 6.22 | 119.8 | 0.80 | 17.38 | 5.13 |
including | 69.63 | 72.55 | 2.92 | 9.03 | 15.79 | 8.19 | 130.0 | 0.59 | 25.48 | 2.63 |
including | 71.58 | 72.55 | 0.97 | 11.70 | 20.90 | 11.85 | 204.0 | 0.84 | 34.19 | 0.87 |
(1) | Metal equivalency based on |
CURI-347 intersected massive sulphide mineralization from 52.90 to 91.00 metres, grading 0.58% copper, 1.04 g/t gold, 0.64% zinc, 25.8 g/t silver, and 0.13% lead (1.90% CuEq). This interval includes a wide section of syn-mineralization basaltic dyke from 54.00 to 80.54 metres that intruded into the massive sulphide mineralization resulting in mineralized margins from 54.00 to 56.00 metres, grading 2.64% copper, 3.90 g/t gold, 2.57% zinc, 101.1 g/t silver and 0.26% lead (7.65% CuEq). The massive sulphide mineralization was intersected from 52.90 to 54.00 metres, grading 6.13% copper, 4.01 g/t gold, 1.14% zinc, 39.0 g/t silver, and 0.09% lead (10.02% CuEq) and from 80.54 to 91.00 metres, grading 0.94% copper, 2.60 g/t gold, 1.71% zinc, 70.1 g/t silver, and 0.41% lead (4.37% CuEq). A subset of higher-grade massive sulphide occurs near the base of the intercept from 88.50 to 89.60 metres, grading 0.23% copper, 9.30 g/t gold, 6.20% zinc, 363.0 g/t silver and 2.18% lead (13.88% CuEq).
Drill Hole
| From (m) | To (m) | Thickness (m) | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | Pb (%) | CuEq (1) (%) | Approx. True |
CURI-347 | 50.92 | 52.90 | 1.98 | 0.71 | 0.63 | 0.34 | 15.1 | 0.06 | 1.48 | 1.68 |
52.90 | 91.00 | 38.10 | 0.58 | 1.04 | 0.64 | 25.8 | 0.13 | 1.90 | 32.39 | |
including | 52.90 | 54.00 | 1.10 | 6.13 | 4.01 | 1.14 | 39.0 | 0.09 | 10.02 | 0.94 |
including | 54.00 | 56.00 | 2.00 | 2.64 | 3.90 | 2.57 | 101.1 | 0.26 | 7.65 | 1.70 |
including | 80.54 | 91.00 | 10.46 | 0.94 | 2.60 | 1.71 | 70.1 | 0.41 | 4.37 | 8.89 |
including | 82.95 | 87.34 | 4.39 | 2.05 | 3.47 | 2.25 | 67.0 | 0.39 | 6.29 | 3.73 |
including | 88.50 | 89.60 | 1.10 | 0.23 | 9.30 | 6.20 | 363.0 | 2.18 | 13.88 | 0.94 |
(1) | Metal equivalency based on |
CURI-348 intersected a single mineralized, fine-grained felsic tuffaceous or sediment unit in the hanging wall of the massive sulphide mineralization from 123.96 to 125.58 metres, grading 0.13% copper, 0.98 g/t gold, 0.65% zinc, 27.3 g/t silver, and 0.23% lead (1.45% CuEq). Gold- and silver-rich massive sulphide mineralization was intersected from 125.58 to 128.30 metres, grading 0.95% copper, 8.93 g/t gold, 12.32% zinc, 673.4 g/t silver and 6.64% lead (20.88% CuEq). Stratigraphically beneath the massive sulphide in CURI-348 is a well mineralized felsic autobreccia in the footwall rocks intersected from 128.30 to 135.10 metres, grading 0.66% copper, 0.22 g/t gold, 5.31% zinc, 20.4 g/t silver and 0.19% lead (2.99% CuEq).
Drill Hole
| From (m) | To (m) | Thickness (m) | Cu (%) | Au (g/t) | Zn (%) | Ag | Pb (%) | CuEq (1) (%) | Approx. True |
CURI-348 | 123.96 | 125.58 | 1.62 | 0.13 | 0.98 | 0.65 | 27.3 | 0.23 | 1.45 | 0.78 |
125.58 | 128.30 | 2.72 | 0.95 | 8.93 | 12.32 | 673.4 | 6.64 | 20.88 | 1.90 | |
including | 128.30 | 135.10 | 6.80 | 0.66 | 0.22 | 5.31 | 20.4 | 0.19 | 2.99 | 4.76 |
(1) | Metal equivalency based on |
All results from the current infill definition drilling program will be used to update the Mineral Resource estimate for the El Domo deposit in 2021. The updated Mineral Resource estimate will be part of the ongoing feasibility study for the development of the El Domo deposit (see
For reference, the last NI 43-101 Mineral Resource estimate for
Update on 2021 Copper-Gold Exploration & Development Plans in
As Adventus and Salazar continue its close and successful partnership now in its fourth year, the Partners are excited and expect 2021 to include significant milestones for the development of the El Domo copper-gold deposit into a future mine as well as the potential for major new discovery through greenfield exploration at the Partners' three projects in
Curipamba
- At
El Domo , infill and step-out drilling program to continue and be completed during the first quarter, with continuous drill assay results into the second quarter - Greenfield exploration of the 15 regional targets identified by the Partners' detailed target generation initiative (see
December 21, 2020 news release) is expected to continue throughout 2021. One drill rig is currently drilling at the La Vaquera target, approximately 8 km southwest ofEl Domo , and is expected to relocate to other targets this year - The draft environmental and social impact assessment on
El Domo is underway and expected to be submitted to the government ofEcuador in the third quarter. This will involve community consultation sessions and the results of the ongoing environmental monitoring and testing which are being conducted by the Partners and experienced consultants to international best practice standards - The
El Domo feasibility study underway is expected to be completed in the second half of 2021 and published in the fourth quarter (seeDecember 2, 2020 news release) - During 2021, the Partners will be negotiating an investment and exploitation agreement with the government of
Ecuador to provide the framework for the construction ofEl Domo from 2022 to 2023. This is an established and transparent process that facilitated the recent financing and construction of both the Mirador and Fruta del Norte mines inEcuador - Adventus has already begun discussions with multiple interested parties with project financing options to fund the development of
El Domo
Pijili
- One drill rig is currently completing the maiden drill program at the Mercy concession – one of three concessions that constitute the Pijili project. Drilling for this current program is expected to be completed during the first quarter, with drill assay results to be released when confirmed
- Regional prospecting continues on several targets within the Mercy concession as well as the other two concessions located approximately 10 km west of Mercy
- Community support, including public health initiatives related to the current pandemic, and socialization of the Partners' exploration plans for the project are continuing at site
- The Partners expect to mobilize and commence drilling during the second or third quarter for a minimum 2,500 metre initial drill program
Over 2021, the Partners will provide an update on exploration progress at their three projects on a timely basis. In addition to the three projects, the Partners are currently evaluating several other early-stage porphyry projects in
Technical Information and Quality Control & Quality Assurance ("QAQC")
The Curipamba project work program is being managed and reviewed by Vice President Exploration,
Qualified Person
The technical information of this news release has been reviewed and verified as accurate by Mr.
About Adventus
About Salazar
Neither the
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.
Table 1: Drill Collar Information for Infill Drill Holes at El Domo in News Release 21-01
Hole ID | EAST | NORTH | ELEV | AZIMUTH | DIP | DEPTH | COMMENT |
CURI-360 | 694934 | 9855242 | 874 | 25 | -48 | N/A | In Progress |
CURI-359 | 695006 | 9855134 | 883 | 349 | -69 | N/A | In Progress |
CURI-358 | 694934 | 9855082 | 867 | 255 | -54 | 113.0 | Successfully completed per design |
CURI-357 | 695057 | 9855149 | 894 | 229 | -74 | 105.0 | Successfully completed per design |
CURI-356 | 695006 | 9855134 | 883 | 241 | -77 | 110.6 | Successfully completed per design |
CURI-355 | 695057 | 9855149 | 894 | 36 | -45 | 86.3 | Successfully completed per design |
CURI-354 | 695057 | 9855149 | 894 | 55 | -54 | 81.0 | Successfully completed per design |
CURI-353 | 695094 | 9855122 | 908 | 192 | -45 | 97.4 | Successfully completed per design |
CURI-352 | 695057 | 9855149 | 894 | 306 | -77 | 78.0 | Successfully completed per design |
CURI-351 | 695057 | 9855149 | 894 | 338 | -59 | 77.0 | Successfully completed per design |
CURI-350 | 695094 | 9855122 | 908 | 180 | -57 | 85.7 | Successfully completed per design |
CURI-349 | 695094 | 9855122 | 908 | 263 | -51 | 130.2 | Successfully completed per design |
CURI-348 | 695094 | 9855082 | 910 | 276 | -45 | 135.1 | Successfully completed per design |
CURI-347 | 695094 | 9855082 | 910 | 105 | -54 | 91.0 | Successfully completed per design |
CURI-346 | 695094 | 9855082 | 910 | 52 | -69 | 83.4 | Successfully completed per design |
CURI-345 | 695094 | 9855082 | 910 | 142 | -48 | 95.7 | Successfully completed per design |
CURI-344 | 695094 | 9855082 | 910 | 360 | -60 | 84.1 | Successfully completed per design |
CURI-343 | 695094 | 9855082 | 910 | 192 | -45 | 142.0 | Successfully completed per design |
CURI-342 | 695041 | 9854913 | 888 | 346 | -45 | 137.1 | Successfully completed per design |
CURI-341 | 695134 | 9854922 | 917 | 360 | -60 | 117.4 | Successfully completed per design |
CURI-340 | 695134 | 9854922 | 917 | 360 | -45 | 149.0 | Successfully completed per design |
Note: UTM Datum (Provisional South American 1956, Zone 17) |
Figure 1: Drill Collar Location Map for Drill Holes at El Domo in News Release 21-01
SOURCE
© Canada Newswire, source