Adventus and Salazar Announce Additional 2018 Drill Results at the Curipamba Project, Including 12.55 Metres of 4.00% Copper, 2.04 g/t Gold, 0.96% Zinc, 25.8 g/t Silver and 0.07% Lead

TORONTO, Jan. 16, 2019 /CNW/ - Adventus Zinc Corporation ("Adventus") (TSX-V: ADZN; OTCQX: ADVZF) and Salazar Resources Limited ("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.

Adventus Salazar Partnership in Ecuador (CNW Group/Adventus Zinc Corporation)

Highlights

  • CURI-311 intersected 8.74 metres of 2.78% copper, 1.93 g/t gold, 3.49% zinc, 54.9 g/t silver, and 0.42% lead for 6.18% CuEq;
  • CURI-312 intersected 12.55 metres of 4.00% copper, 2.04 g/t gold, 0.96% zinc, 25.8 g/t silver, and 0.07% lead for 6.04% CuEq; including 3.60 metres of 10.40% copper, 3.77 g/t gold, 2.97% zinc, 72.9 g/t silver and 0.20% lead for 14.95% CuEq, and;
  • CURI-320 intersected 10.86 metres of 1.50% copper, 2.95 g/t gold, 2.49% zinc, 79.2 g/t silver, and 0.30% lead for 5.40% CuEq; including 2.72 metres of 2.51% copper, 8.50 g/t gold, 8.16% zinc, 250.6 g/t silver and 0.93% lead for 14.40% CuEq.

Christian Kargl-Simard, CEO of Adventus commented: "The Partners are pleased to see continuing positive, high-grade drill results coming from our infill drilling work at Curipamba. The 2018 results speak to the quality of the development opportunity the Partners see at Curipamba and strengthen the foundation for work ahead in 2019. We look forward to discussing these new assay results, as well as the latest updates on our projects at the Vancouver Resource Investment Conference on January 20th and 21st, 2019 at booth 908.  In addition, we will be displaying drill core from El Domo VMS deposit in the AMEBC Roundup Core Shack at booth 723 on January 30th and 31st, 2019."

El Domo Infill Drilling Results

The optimized Phase 2 infill drilling program was completed in late December 2018 on the open-pit constrained Mineral Resource. A total of 12,608 metres of infill drilling was successfully completed at El Domo in 2018 between both phases of infill drilling on the open-pit constrained Mineral Resource. Additional drilling results will be released once assay results have passed through internal QAQC validation. The Partners will also provide an update to the market with regards to the 2019 Curipamba work plan in the near future.

Drill hole CURI-311 intersected two gold-rich zone of semi-massive to massive sulphide mineralization separated by a basalt intrusion. The first intercept of mineralization is from 131.26 to 140.00 metres for an approximate true thickness of 7.87 metres grading 2.78% copper, 1.93 g/t gold, 3.49% zinc, 54.9 g/t silver, and 0.42% lead.  The second intercept of mineralization was then intersected from 144.80 to 149.28 metres for an approximate true thickness of 4.03 metres grading 2.11% copper, 1.26 g/t gold, 0.64% zinc, 27.4 g/t silver, and 0.09% lead.

Drill Hole

From

(m)

To

(m)

Thickness

(m)

Cu
(%)

Au
(g/t)

Zn
(%)

Ag
(g/t)

Pb
(%)

CuEq(1)

(%)

Approx. True
Thickness (m)

CURI-311

131.26

140.00

8.74

2.78

1.93

3.49

54.9

0.42

6.18

7.87


144.80

149.28

4.48

2.11

1.26

0.64

27.4

0.09

3.53

4.03

(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-312 intersected a wide section of mineralized grainstone from 121.25 to 145.65 metres for an apparent true thickness of 22.80 metres grading 0.47% copper, 2.86 g/t gold, 1.14% zinc, 79.1 g/t silver and 0.26% lead. A subset interval of the grainstone was significantly higher grade from 130.83 to 133.45 metres grading 0.31% copper, 3.06 g/t gold, 3.46% zinc, 509.2 g/t silver, and 1.60% lead. Under the grainstone is copper-rich massive sulphide mineralization from 145.65 to 158.20 metres for a true thickness of 11.92 metres, grading 4.00% copper, 2.04 g/t gold, 0.96% zinc, 25.8 g/t silver, and 0.07% lead. A subset interval of massive sulphide mineralization possesses significantly higher-grade from 145.65 to 149.25 metres, grading 10.40% copper, 3.77 g/t gold, 2.97% zinc, 72.9 g/t silver, and 0.20% lead.

Drill Hole

From

(m)

To

(m)

Thickness

(m)

Cu
(%)

Au
(g/t)

Zn
(%)

Ag
(g/t)

Pb
(%)

CuEq(1)

(%)

Approx. True
Thickness (m)

CURI-312

121.25

145.65

24.40

0.47

2.86

1.14

79.10

0.26

3.76

22.80

including

130.83

138.30

7.47

0.49

2.06

2.70

200.2

0.71

5.26

7.10

including

130.83

133.45

2.62

0.31

3.06

3.46

509.2

1.60

9.55

2.49


145.65

158.20

12.55

4.00

2.04

0.96

25.8

0.07

6.04

11.92

including

145.65

149.25

3.60

10.40

3.77

2.97

72.9

0.20

14.95

3.42

(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-315 intersected massive sulphide from 101.38 to 117.13 metres for a true thickness of 13.39 metres, grading 1.73% copper, 0.76 g/t gold, 0.38% zinc, 12.6 g/t silver, and 0.03% lead. A subset of massive sulphide had higher grades from 101.38 to 103.33 metres, grading 10.37% copper, 2.00 g/t gold, 1.53% zinc, 58.1 g/t silver, and 0.06% lead. 

Drill Hole

From

(m)

To

(m)

Thickness

(m)

Cu
(%)

Au
(g/t)

Zn
(%)

Ag
(g/t)

Pb
(%)

CuEq(1)

(%)

Approx. True
Thickness (m)

CURI-315

101.38

117.13

15.75

1.73

0.76

0.38

12.6

0.03

2.53

13.39

including

101.38

103.33

1.95

10.37

2.00

1.53

58.1

0.06

12.95

1.66

including

106.19

108.13

1.94

1.50

1.22

0.27

5.1

0.02

2.49

1.65

(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-316 intersected a narrow section of well mineralized grainstone from 104.20 to 110.48 metres for an apparent true thickness of 5.34 metres grading 2.18% copper, 1.33 g/t gold, 2.42% zinc, 40.1 g/t silver and 0.20% lead. Under the grainstone is copper-rich semi-massive sulphide mineralization cut by several fault zones from 110.48 to 130.62 metres for a true thickness of 17.12 metres, grading 2.10% copper, 0.68 g/t gold, 0.77% zinc, 13.9 g/t silver, and 0.06% lead. A subset interval of massive sulphide mineralization possesses significantly higher-grade from 110.48 to 112.64 metres, grading 3.51% copper, 1.05 g/t gold, 2.53% zinc, 40.5 g/t silver, and 0.22% lead.

Drill Hole

From

(m)

To

(m)

Thickness

(m)

Cu
(%)

Au
(g/t)

Zn
(%)

Ag
(g/t)

Pb
(%)

CuEq(1)

(%)

Approx. True
Thickness (m)

CURI-316

104.20

110.48

6.28

2.18

1.33

2.42

40.1

0.20

4.52

5.34


110.48

130.62

20.14

2.10

0.68

0.77

13.9

0.06

3.03

17.12

including

110.48

112.64

2.16

3.51

1.05

2.53

40.5

0.22

5.72

1.84

including

123.73

128.36

4.63

2.94

0.56

0.15

9.7

0.02

3.48

3.94

(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-318 intersected a narrow section of well mineralized grainstone from 93.11 to 98.90 metres for an apparent true thickness of 4.87 metres grading 3.21% copper, 2.14 g/t gold, 0.49% zinc, 26.3 g/t silver and 0.05% lead. A subset interval within the grainstone was logged as semi-massive sulphide and it possessed higher grade from 93.91 to 96.14 metres, grading 7.19% copper, 3.37 g/t gold, 0.89% zinc, 32.6 g/t silver and 0.08% lead. The drill hole then intersected pyrite-rich massive sulphide mineralization from 106.23 to 116.06 metres for a true thickness of 9.33 metres, grading 0.19% copper, 0.68 g/t gold, 0.05% zinc, 6.0 g/t silver, and 0.01% lead.

Drill Hole

From

(m)

To

(m)

Thickness

(m)

Cu
(%)

Au
(g/t)

Zn
(%)

Ag
(g/t)

Pb
(%)

CuEq(1)

(%)

Approx. True
Thickness (m)

CURI-318

93.11

98.90

5.79

3.21

2.14

0.49

26.3

0.05

5.13

4.87

including

93.91

96.14

2.23

7.19

3.37

0.89

32.6

0.08

10.18

2.21


106.23

116.06

9.83

0.19

0.68

0.05

6.0

0.01

0.73

9.33

(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-320 intersected a massive to semi-massive sulphide unit from 101.00 to 111.86 metres for a true thickness of 9.34 metres, grading 1.50% copper, 2.95 g/t gold, 2.49% zinc, 79.2 g/t silver, and 0.30% lead. A subset of the interval had higher grades from 106.18 to 108.90 metres, grading 2.51% copper, 8.50 g/t gold, 8.16% zinc, 250.6 g/t silver, and 0.93% lead.

Drill Hole

From

(m)

To

(m)

Thickness

(m)

Cu
(%)

Au
(g/t)

Zn
(%)

Ag
(g/t)

Pb
(%)

CuEq(1)

(%)

Approx. True
Thickness (m)

CURI-320

101.00

111.86

10.86

1.50

2.95

2.49

79.2

0.30

5.40

9.34

including

106.18

108.90

2.72

2.51

8.50

8.16

250.6

0.93

14.40

2.45

(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-309, CURI-314, and CURI-319 intersected gold-rich, highly pyritic, lower-grade massive sulphide unit. In CURI-310, a basalt intrusion appears to have locally digested the VMS mineralization. Results for these drill holes are tabulated below. 

Drill Hole

From

(m)

To

(m)

Thickness

(m)

Cu
(%)

Au
(g/t)

Zn
(%)

Ag
(g/t)

Pb
(%)

CuEq(1)

(%)

Approx. True
Thickness (m)

CURI-309

143.47

144.02

0.55

1.25

0.44

0.05

7.5

0.01

1.65

0.47

CURI-310

157.57

158.60

1.03

0.70

3.57

5.51

314.0

1.41

9.02

0.98


158.60

165.19

6.59

1.26

2.17

1.99

31.5

0.11

3.88

6.26


165.19

169.64

4.45

0.86

0.73

1.34

24.5

1.34

2.59

4.23

CURI-314

107.44

113.63

6.19

0.87

0.60

0.05

8.43

0.01

1.38

5.88

Incl.

107.44

109.75

2.31

1.77

0.61

0.05

8.57

0.01

2.29

2.19

CURI-319

156.34

156.80

0.46

2.71

2.08

1.97

44.3

0.19

5.42

0.39

(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-322 and CURI-323 were designed to test the westerly limits of the known massive sulphide mineralization and further assess the pit wall geology. 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. All drill hole collars referenced above are summarized in Table A at the end of this news release.

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 is a well-financed company focused on base metals exploration and project development globally. Its strategic shareholders include Altius Minerals Corporation, 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.

Table A: Drill Collar Information for News Release 19-01

HOLE ID

EAST

NORTH

ELEV

AZIMUTH

DIP

DEPTH

CURI-309

695181

9855328

952.5

270.0

-85.0

213.0

CURI-310

695184

9855328

951.9

90.0

-70.0

234.0

CURI-311

695195

9855378

974.0

270.0

-77.0

228.0

CURI-312

695198

9855378

973.9

90.0

-77.0

252.0

CURI-314

695170

9855425

961.0

360.0

-90.0

157.8

CURI-315

695160

9855450

959.0

160.0

-80.0

136.3

CURI-316

695140

9855393

946.0

128.0

-71.0

132.0

CURI-318

695140

9855393

946.0

333.0

-74.0

97.9

CURI-319

695150

9855350

961.0

131.6

-76.9

189.0

CURI-320

695101

9855350

940.0

205.2

-65.2

156.0

 

SOURCE Adventus Zinc Corporation