Adventus Zinc and Salazar Resources Begin Testing Regional Targets At Curipamba Project
Toronto, January 11, 2018 – Adventus Zinc Corporation (“Adventus”) (TSX-V: ADZN) and Salazar Resources Limited (“Salazar”) (TSX-V: SRL) are pleased to announce the commencement of an extensive surface exploration program for 2018 at the 21,537-hectare Curipamba project located in Ecuador (“Curipamba Project”). The 2018 regional work program at the Curipamba Project is based upon a thorough target generation review of a large historical database that includes prospecting, geological mapping, surficial geochemistry, geophysics and drilling. Adventus and Salazar are confident their methodical approach will result in positive outcomes, and greatly improve their knowledge and understanding of mineralizing system surrounding the El Domo volcanogenic massive sulphide deposit (“El Domo”). Work in 2018 is primarily targeting new VMS discoveries, and kick-off programs have commenced at the Sesmo target.
The Curipamba Project hosts El Domo and more than a dozen underexplored precious metal enriched targets; however, when Salazar discovered El Domo in Q1 2008 (see February 28, 2008 Salazar news release), focus shifted away from the regional targets and towards Mineral Resource definition drilling. Salazar’s subsequent work programs have resulted in the current Mineral Resource estimate for El Domo that consists of 6.08 Mt grading 2.33% Cu, 3.06% Zn, 0.28% Pb, 2.99 g/t Au and 55.8 g/t Ag in the Indicated category, and 3.88 Mt grading 1.56% Cu, 2.19% Zn, 0.16% Pb, 2.03 g/t Au and 42.9 g/t Ag in the Inferred category (see January 16, 2015 Salazar news release). This Mineral Resource estimate was part of a technical report filed on SEDAR: “Curipamba Project - El Domo Deposit Amended and Restated Preliminary Economic Assessment Central Ecuador” that was prepared by Independent Qualified Persons Gustavo Calvo Martin, M.Sc.A., P. Geo and Adam Johnston, B. Eng., FAusIMM.
Following completion of an agreement between Adventus and Salazar in 2017 (see September 14, 2017 Adventus news release); which included a significant Adventus work commitment, the companies will not only advance the evaluation of the development potential for El Domo, but more importantly, renew regional exploration, starting with the targets previously identified by Salazar.
At Sesmo, work started with a review of any historical drill holes near the target; which is located 1,100 metres north of El Domo. This review will be followed by prospecting, soil sampling, and a 22-line kilometres IP geophysical survey, noting that the geophysical survey is key to refining targets for drilling. No follow-up drilling to the channel samples has been done. Adventus and Salazar anticipate commencement of drilling in February 2018.
The Sesmo target is characterized by outcropping high-grade gold and silver mineralization, in what Salazar describes as a hydrothermal breccia. These hydrothermal breccia units at Sesmo are hosted in a quartz-eye phyric dacite volcanic rock, and possess mineralized, silicified, polymetallic clasts in an argillic altered matrix. Previous surface sampling by Salazar (see April 27, 2007 news release) reported a 15-metre channel sample grading 39.1 g/t Au and 741 g/t Ag that included 186.5 g/t Au and 1,055 g/t Ag over 2 metres. No base or other trace metal values were published by Salazar. Other channel samples reported by Salazar from Sesmo include:
• 10 metres at 9.54 g/t gold and 634.0 g/t silver
• 3 metres at 12.30 g/t gold and 469.0 g/t silver
• 3 metres at 3.67 g/t gold and 12.0 g/t silver
Exploring Curipamba after Sesmo
As noted previously, Sesmo target is one of over a dozen important, previously known, precious metal-rich targets at Curipamba Project. This includes, but is not limited to Cade, Cade 1, Cade Sur, Roble, Roble 1, Roble Este, El Gallo, Sesmo Sur, Agua Santa, and La Vaquera as shown in the “Curipamba Project Map of Concessions” on www.adventuszinc.com.
Cade/Cade 1/Cade Sur Targets
The Cade, Cade 1, and Cade Sur targets stretch along a northeast-southwest trend, and are located 100 to 600 metres west of El Domo respectively. At the Cade 1 target, Salazar noted in their May 17, 2007 news release that rock chip sampling yielded 7 metres grading 9.80 g/t gold, 409.0 g/t silver, and over 1% zinc. Mineralization is described as being hosted in a hydrothermal breccia.
At Cade Sur, Salazar noted in a June 5, 2007 news release they described that mineralization is hosted in a volcanic breccia, possessing polymetallic clasts in an argillic altered matrix with disseminated pyrite. The most significant channel sample from Cade Sur was 7.63 g/t gold and 291.0 g/t silver over 10 metres; however, sampling also yielded a channel sample grading 5.03 g/t gold, 376.0 g/t silver, 2.74% copper, and 19.6% zinc over 1.30 metres.
Roble/Roble 1/Roble Este Targets
The Roble and Roble 1 targets stretch along an east-west trend, and are located 100 metres north of El Domo. Salazar, in their October 18, 2007 news release, noted that channel sampling of outcrops along a mineralized trend at Roble 1 yielded a 3.60 metre sample grading 15.12 g/t gold and 258.0 g/t silver; which also had 0.56% copper, 3.25% lead, and 5.25% zinc. This included a 0.93 metre subsection grading 35.29 g/t gold, 630.0 g/t silver, 1.36% copper, 7.98% lead, and 12.80% zinc.
Mineralization at surface and appears open; however, it appears the massive sulphide mineralization has been structurally complicated by a fault structure. Semi-massive to massive sulphide clasts are present along the fault structure and range in size from 0.05 to 1.00 metres in diameter.
In Salazar’s April 18, 2008 MDA filed on SEDAR, they noted Roble 1 was tested by five drill holes totaling 1,015 metres which confirmed the presence of fault-related semi-massive to massive sulphide mineralization, and the presence of hydrothermal breccia units with stockwork-like base metal mineralization. Highlights of this work are summarized in Table 1 in the news release Appendix.
At Roble, two other channel samples yielded 1.00 g/t gold, 95.0 g/t silver, 4.40% copper, and 3.00% zinc over 4.0 metres; including 2.4 g/t gold, 295.0 g/t silver, 15.1% copper, and 6.9% zinc over 1.0 metres; and 1.1 g/t gold, 3.2 g/t silver, and 3.2% copper over 2.2 metres. In Salazar’s April 18, 2008 MDA filed on SEDAR, they noted Roble and Roble Este was tested by three drill holes totalling 731 metres that did confirm the presence of fault-related semi-massive to massive sulphide mineralization, and the presence of hydrothermal breccia units with stockwork-like base metal mineralization. Highlights of this work are summarized in Table 2 in the Appendix at end of the news release.
El Gallo Target
The El Gallo target is located approximately 420 metres directly south of El Domo. It is an important target because the favourable strata between El Domo and the El Gallo target remains relatively untested. The mineralization at El Gallo is hosted in a volcanic breccia unit containing polymetallic-barite clasts that occur in argillic altered matrix. This is interpreted to be a resedimented slump breccia downslope from the volcanic edifice that is the foci for formation of the upper baritic and precious metal-rich portion of massive sulphide mineralization at El Domo or another nearby unknown VMS deposit.
In Salazar’s March 20, 2007 news release, they noted that channel sampling of outcrops along a mineralized trend in a creek bed that yielded a 17-metre sample grading 11.2 g/t gold and 505.0 g/t silver. Other channel samples reported by Salazar from El Gallo include:
• 12 metres at 7.09 g/t gold and 299 g/t silver
• 10 metres at 12.13 g/t gold and 235.0 g/t silver
• 6 metres at 4.00 g/t gold and 38.0 g/t silver
A follow-up drill program at El Gallo noted assay results from four drill holes (see January 21, 2008 Salazar news release) and a fifth drill hole was disclosed by Salazar in their March 12, 2008 news release. Highlights of this work are summarized in Table 3 in the Appendix at end of the news release.
Sesmo Sur Target
The Sesmo Sur target is located about 5.8 kilometres southwest of El Domo. It was initially called the El Lobo target (see June 5, 2007 Salazar news release); however, subsequent work identified a broader mineralized system, and the area was renamed (see September 12, 2007 news release).
Mineralization at Sesmo Sur was characterized by both barite and sulphide minerals hosted within an andesitic volcanic breccia over an area of 350 metres by 50 metres that has argillic and silica-pyrite alteration both to the east and west of the target. However, the initial discovery was highlighted by a 68-metre channel sample grading 2.6 g/t gold and 82 g/t silver; which included 5 metres grading 8.5 g/t gold and 304 g/t silver (see June 5, 2007 news release). Other channel samples reported by Salazar from Sesmo Sur include:
• 44 metres at an average of 3.21 g/t gold and 15.0 g/t silver
• 52 metres at an average of 3.71 g/t gold and 162.0 g/t silver
• 29 metres at an average of 2.66 g/t gold and 14.0 g/t silver
• 12 metres at an average of 1.07 g/t gold and 183.0 g/t silver
Salazar followed up the successful surface exploration at Sesmo Sur with drilling a total of 3,746 metres in eighteen drill holes (see February 28, 2008 Salazar news release). Highlights of this work are summarized in Table 4 in the Appendix at end of the news release.
Although extensive gold and silver mineralization was identified on surface, and the hydrothermal breccia units were successfully intersected by drilling, more work is required to understand the nature and distribution of both precious and base metals in this mineralizing system at Sesmo Sur.
La Vaquera Target
During regional exploration work in 2007 about 2 kilometres west of the Sesmo Sur target, fourteen float boulder and outcrop grab samples were collected in the La Vaquera area that contained gold and silver mineralization. Values ranged between 0.01 to 16.30 g/t gold and 0.1 to 136.1 g/t silver. Geochemical results also showed a wide range of copper, lead and zinc.; however, it was copper that provided the best corresponding results. In addition, Salazar staff collected 256 soil samples that produced a geochemical anomaly for gold greater than 100 ppb of approximately 200 metres in length. Full maps for La Vaquera target, and its tabulated geochemical results can be seen in the February 28, 2008 Salazar news release.
Agua Santa Target
Prospecting activities about 1.5 kilometres north of the Sesmo Sur target yielded numerous large float boulder samples characterized by jasper and what was described as hydrothermal breccia that possessed barite, pyrite, and sphalerite. Further investigation revealed a broad geochemical anomaly. Values for gold and silver ranged between 0.01 to 4.99 g/t gold, and 0.1 to 496.0 g/t silver; whereas base metal values graded up to 0.42% copper, 0.99% lead, and 2.89% zinc. Full maps for the Agua Santa target and its tabulated geochemical results can be seen in the February 28, 2008 Salazar news release.
El Domo Mineral Resource Update
Adventus has retained Roscoe Postle Associates Inc. to complete an updated Mineral Resource estimate for El Domo. The updated Mineral Resource estimate will be prepared in accordance with Canadian Institute of Mining, Metallurgy, and Petroleum (“CIM”) Standards on Mineral Resources and Reserves – Definitions and Guidelines, as referred to in National Instrument (“NI”) 43-101, and adopted by CIM Council on May 10, 2014. This updated Mineral Resource estimate will include all relevant information from Salazar’s 2017 Phase V drilling program that included 33 drill holes totaling 9,765 metres on El Domo (see September 8, 2017 Salazar news release). Adventus anticipates that the Mineral Resource update will be available in Q1 2018.
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.
Adventus is a well-financed and unique company focused on zinc exploration and project development globally. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, and Resource Capital Funds; as well as other highly respected investors in the mining business. Adventus currently has large prospective land packages in both Ireland and Newfoundland and Labrador, Canada, and is earning a 75% ownership interest in the Curipamba copper-gold-zinc project in Ecuador. In addition, Adventus has a country-wide generative exploration alliance with its partners in Ecuador. Adventus is based in Toronto, Canada, and is listed on the TSX-V under the symbol ADZN.
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 has 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 undertakes to update any forward-looking information except in accordance with applicable securities laws.