Toronto, September 6, 2018 – Adventus Zinc Corporation ("Adventus") (TSX-V: ADZN) and Salazar Resources Limited ("Salazar") (TSX-V: SRL, collectively the "Partners") are pleased to announce additional results from follow-up drilling on the Sesmo target that is located approximately 1,100 metres to the northwest of the El Domo volcanogenic massive sulphide ("VMS") deposit; both of which are part of the approximately 22,000-hectare Curipamba project located near Las Naves, Ecuador.
- CURI-274 intersected 7.02 metres of 1.40 g/t gold and 62.0 g/t silver from 44.65 metres; and
- CURI-274 also intersected 13.05 metres of 5.70 g/t gold and 12.5 g/t silver from 141.67 metres; including 5.73 metres of 10.25 g/t gold and 23.2 g/t silver from 143.75 metres.
Sesmo Drilling Results
Drilling at started in mid-March and to date, seven drill holes have been completed for a total of approximately 1,713 metres. Results have been previously reported for holes CURI-254 and 254A (see April 30, 2018 joint news release).
Drill hole CURI-274 was designed to test for the southwesterly, downdip extension of a zone of precious metal rich stockwork mineralization that was identified in CURI-254A. This drill hole successfully intersected several zones of precious metal rich stockwork mineralization with the most significant, occurring from 141.67 to 154.72 metres, grading 5.70 g/t gold, 12.5 g/t silver, 0.07% copper, 0.36% lead, and 0.70% zinc over a core length of 13.05-metres. A subset of this interval from 143.75 to 149.48 metres returned 10.25 g/t gold, 23.2 g/t silver, 0.11% copper, 0.48% lead and 0.88% zinc over a 5.73-meter core length.
|Drill Hole||From (m)||To|
(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 positive results from CURI-274 confirm continued target generation on the Sesmo target through integration of new geological, geochemical, and geophysical data, as it becomes available. A new drilling proposal has been engineered by the technical team to leverage off the positive results in CURI-274, and once approved, a drill rig will be moved to restart exploration drilling. To support the restart of exploration drilling, core orientation equipment has been sourced to aid the collection of structural measurements that will be used to build a stronger geological model. The subtle nature of the mineralization appears to be a different style of stockwork compared to the typical low-grade stockwork noted throughout the Curipamba project area.
The subtle nature of the mineralization observed in CURI-274 has led the technical team to resample CURI-263 and CURI-271. Results from the resampling program are expected once data has been received from the laboratory and passed quality control and quality assurance ("QAQC") protocols. However, it should be noted that CURI-263 did have a near-surface, low-grade stockwork interval from 45.13 to 71.83 metres, grading 0.08 g/t gold, 2.0 g/t silver, 0.03% copper, 0.24% lead and 0.71% zinc. A subset of this interval from 45.13 to 49.67 metres returned slightly higher grade at 0.17 g/t gold, 3.8 g/t silver, 0.10% copper, 0.47% lead, and 1.40% zinc. CURI-271, located approximately 275 metres southeast of the main Sesmo showing, initially yielded only geochemically anomalous results. The technical team is reviewing both CURI-258 and CURI-267 for resampling based upon the results from CURI-274. Both drill holes yielded only geochemically anomalous results. CURI-258 is located approximately 650 metres to the southeast of the main Sesmo showing, whereas CURI-267 is located approximately 375 metres to the northwest of the main Sesmo showing.
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 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.
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 Zinc 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.
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.
For further information from Adventus, please contact Christian Kargl-Simard, Chief Executive Officer, at 1-416-230-3440 or firstname.lastname@example.org.
For further information from Salazar, please contact email@example.com.