Adventus and Salazar announce initial drill results from the Sesmo target, including 19.88 metres 4.30 g/t gold and 95.1 g/t silver

TORONTO, April 30, 2018 /CNW/ - Adventus Zinc Corporation ("Adventus") (TSX-V: ADZN) and Salazar Resources Limited ("Salazar") (TSX-V: SRL, collectively the "Partners") are pleased to announce results from the first drill holes from its regional exploration drilling program at its 22,000-hectare Curipamba project located near Las Naves, Ecuador. The first drill holes being released are from the Sesmo target which is located approximately 800 metres north-northeast of the El Domo volcanogenic massive sulphide deposit ("El Domo").

Adventus Zinc Corporation and Salazar Resources Limited (CNW Group/Adventus Zinc Corporation)

Highlights

  • CURI-254 intersected 11.56 metres of 3.65 g/t gold and 77.2 g/t silver; and
  • CURI-254A intersected 19.88 metres of 4.30 g/t gold and 95.1 g/t silver.

Sesmo Drilling Results
The Sesmo target last saw exploration in 2007, which means the 2018 exploration program provides Adventus and Salazar an excellent opportunity to evaluate the extent of precious metal mineralization associated with this important target.  As previously reported in the January 11, 2018 joint news release, the main Sesmo target is characterized by outcropping high-grade gold and silver mineralization where Salazar reported a 15-metre surface channel sample grading 39.1 g/t gold and 741 g/t silver that included 186.5 g/t gold and 1,055 g/t silver over 2 metres (see April 27, 2007 Salazar news release).

Exploration activities in the Sesmo target area began in January 2018 with a review and relogging of historical drill holes completed by Salazar immediately to the south of the target. The relogging provided context for the Sesmo target geological model and was followed up by prospecting, line cutting, geological mapping, soil sampling, and detailed ground geophysical survey that included 24.15-line kilometres induced polarization ("IP") and 24.57-line kilometres of magnetic ("MAG") data collection during the month of February 2018.

Drilling at Sesmo target started in mid-March 2018.  The first drill hole, CURI-254, had to be halted in mineralization at a depth of 24.50 metres due to in-hole weathered rock conditions and loss of water pressure. CURI-254A was therefore recollared at the same location at a steeper angle and was successfully drilled to a target depth of 209.50 metres.  CURI-254 intersected brecciated and altered dacitic volcanic rocks contain barite and minor base metal sulphide mineralization that returned 11.56 metres grading 3.65 g/t gold, 77.2 g/t silver, 0.01% copper, 0.10% lead and 0.27% zinc from 12.94 to the end of the hole at 24.50 metres.  The mineralized zone appears to possess a weak fabric, suggestive of minor structurally modification; however, given the limited exposure, more work is required to ascertain the true nature of any structural influence. 

Drill Hole

 

From

(m)

To

(m)

Thickness

(m)

Au

(g/t)

Ag
(g/t)

Cu
(%)

Pb
(%)

Zn
(%)

Approx. True
Thickness (m)

CURI-254

12.94

24.50

11.56

3.65

77.2

0.01

0.10

0.27

(1)

including

21.20

24.50

3.30

6.10

53.0

0.01

0.22

0.48

(1)


Notes:

(1)

Due to the early stage of exploration and lack of geological information, no estimate of true thickness can be made at this time

 

The intercept in CURI-254A returned 19.88 metres, from 10.12 to 30.00 metres, grading 4.30 g/t gold, 95.1 g/t silver, 0.09% copper, 0.33% lead, and 0.72% zinc.  A 3.30 metre subset interval from 25.20 to 28.50 metres, graded 17.38 g/t gold, 159.9 g/t silver, 0.36% copper, 0.99% lead, and 2.51% zinc.  Further down the hole a zone of base metal stockwork mineralization was encountered that included an intercept of 0.26 g/t gold, 3.6 g/t silver, 0.07% copper, 0.56% lead, and 1.18% zinc over 19.42 metres.  This zone was described as sharing strong geologic similarities with footwall stockwork zones that typically underlie the nearby El Domo deposit.

Drill Hole

 

From

(m)

To

(m)

Thickness

(m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

Pb
(%)

Zn
(%)

Approx. True
Thickness (m)

CURI-254A

10.12

30.00

19.88

4.30

95.1

0.09

0.33

0.72

(1)

Including

20.65

28.50

7.85

7.76

75.9

0.20

0.70

1.48

(1)

Including

25.20

28.50

3.30

17.38

159.9

0.36

0.99

2.51

(1)


47.10

66.13

19.42

0.26

3.6

0.07

0.56

1.18

(1)

Including

47.10

53.43

6.33

0.20

5.0

0.13

0.83

2.01

(1)

Including

58.53

66.13

7.60

0.38

3.1

0.04

0.43

0.89

(1)



Notes:

(1)

Due to the early stage of exploration and lack of geological information, no estimate of true thickness can be made at this time

 

Given these positive initial results, target generation is now underway through the integration of all available geological, geochemical, and geophysical data to plan additional drill holes.  Adventus and Salazar staff will continue to refine their target generation process as new data becomes available from both drilling and reprocessing of the IP and MAG ground geophysical data.  The initial target generation process has highlighted several interesting areas for immediate follow-up and drilling, and one follow-up drill hole is currently in progress.

Technical Information Quality Control & Quality Assurance
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 AAS 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.

Due to the high-grade nature of the precious metal mineralization at Sesmo target, a decision was made to submit a split of the pulps for both drill holes and remit for an umpire assaying round at a third-party laboratory.  Pulp samples were submitted directly to the ALS Global laboratory facilities in Lima, Peru; which are independent from Adventus, Salazar, and BV for sample preparation and analysis.  The analysis for gold is performed using fire assay method with AAS finish and with a gravimetric finish for samples exceeding 10 g/t gold.  Silver and base metals are analyzed by a 41-element aqua regia ICP-AES technique with overlimit protocols in place for silver, copper, lead and zinc.

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 is a well-financed company focused on zinc-related 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 exploration alliance with its partners in Ecuador, incorporating one project to date. Adventus 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 Corporation