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Adventus and Salazar Announce Drilling Results at the El Domo Deposit Highlighted by 13.61% Copper Equivalent over 16.96 Metres

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Toronto, February 8, 2021Adventus Mining Corporation (“Adventus”) (TSX-V: ADZN, OTCQX: ADVZF) and Salazar Resources Limited (“Salazar”) (TSX-V: SRL) (collectively the “Partners” - https://www.commodity-tv.com/ondemand/companies/profil/adventus-mining-corp/) are pleased to announce continued infill drilling results from the El Domo volcanogenic massive sulphide deposit located within the 21,537-hectare Curipamba project in central Ecuador. Infill drilling continues at El Domo with two diamond drill rigs with 30 infill definition drill holes having been successfully completed totaling 3,137 metres from the planned 4,960 metres, and two drill holes in progress totaling a further 192 metres completed.

Highlights – Drill Results from the El Domo Deposit at Curipamba:

  • CURI-349 intersected 16.96 metres of 7.11% copper, 5.44 g/t gold, 3.38% zinc, 107.6 g/t silver, and 0.34% lead for 13.61% CuEq. – including 3.01 metres of 11.97% copper, 8.09 g/t gold, 3.88% zinc, 134.3 g/t silver and 0.15% lead for 20.88% CuEq
  • CURI-350 intersected 12.79 metres of 3.99% copper, 4.76 g/t gold, 1.97% zinc, 129.2 g/t silver, and 0.17% lead for 9.70% CuEq – including 2.44 metres of 10.34% copper, 12.57 g/t gold, 7.26% zinc, 620.1 g/t silver and 0.79% lead for 29.28% CuEq
  • CURI-351 intersected 16.36 metres of 5.42% copper, 3.76 g/t gold, 0.46% zinc, 34.6 g/t silver, and 0.03% lead for 8.81% CuEq – including 2.06 metres of 17.62% copper, 20.03 g/t gold, 2.67% zinc, 196.7 g/t silver and 0.15% lead for 35.83% CuEq

Drill hole CURI-349 intersected well mineralized grainstone with massive sulphide clasts in the hanging wall of the massive sulphide mineralization from 65.60 to 85.34 metres, grading 0.19% copper, 0.35 g/t gold, 0.69% zinc, 12.1 g/t silver, and 0.09% lead (0.84% CuEq).  A higher-grade subset was intersected from 82.08 to 85.34 metres, grading 0.79% copper, 0.98 g/t gold, 1.63% zinc, 51.7 g/t silver, and 0.46% lead (2.77% CuEq). Massive sulphide mineralization was intersected from 92.06 to 109.02 metres, grading 7.11% copper, 5.44 g/t gold, 3.38% zinc, 107.6 g/t silver and 0.34% lead (13.61% CuEq). A higher-grade subset occurs from 96.13 to 99.14 metres, grading 11.97% copper, 8.09 g/t gold, 3.88% zinc, 134.3 g/t silver, and 0.15% lead (20.88% CuEq). Beneath the massive sulphide mineralization, mineralized footwall felsic autoclastic volcaniclastic rocks were intersected from 123.41 to 125.36 metres, grading 0.70% copper, 0.11 g/t gold, 0.05% zinc, 1.9 g/t silver (0.82% CuEq).

Drill Hole

From
(m)

To
(m)

Thickness
(m)

Cu (%)

Au (g/t)

Zn (%)

Ag (g/t)

Pb (%)

CuEq (1)
(%)

Approx. True Thickness (m)

CURI-349

65.6

85.34

19.74

0.19

0.35

0.69

12.1

0.09

0.84

14.81

Including

82.08

85.34

3.26

0.79

0.98

1.63

51.7

0.46

2.77

2.45

 

92.06

109.02

16.96

7.11

5.44

3.38

107.6

0.34

13.61

12.72

including

96.13

99.14

3.01

11.97

8.09

3.88

134.3

0.15

20.88

2.26

 

123.41

125.36

1.95

0.70

0.11

0.05

1.9

0.00

0.82

1.46

  • Metal equivalency based on US$3.55/lb Cu, US$1,835.80/oz Au, US$1.18/lb Zn, US$26.79/oz Ag and US$0.92/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 3, 2021.

 

CURI-350 intersected well mineralized grainstone with massive sulphide clasts in the hanging wall of the massive sulphide mineralization from 51.40 to 54.21 metres, grading 4.11% copper, 7.63 g/t gold, 5.78% zinc, 162.8 g/t silver, and 0.58% lead (13.74% CuEq). Mineralized fine-grained sediments were intersected in the hanging wall of the massive sulphide mineralization from 54.21 to 56.33 metres, grading 1.95% copper, 2.72 g/t gold, 0.58% zinc, 35.7 g/t silver, and 0.07% lead (4.61% CuEq), but a syn-mineralization basaltic dyke intruded and separated it from the massive sulphide mineralization.  This intrusion has a well-mineralized margin from 61.80 to 62.87 metres, grading 2.65% copper, 2.30 g/t gold, 0.33% zinc, 16.4 g/t silver and 0.03% lead (4.68% CuEq). The massive sulphide mineralization was intersected from 62.87 to 75.66 metres, grading 3.99% copper, 4.76 g/t gold, 1.97% zinc, 129.2 g/t silver, and 0.17% lead (9.70% CuEq). A subset of higher-grade massive sulphide occurs near at the top of the intercept from 62.87 to 65.31 metres, grading 10.34% copper, 12.57 g/t gold, 7.26% zinc, 620.1 g/t silver and 0.79% lead (29.28% CuEq).

Drill Hole

From
(m)

To
(m)

Thickness
(m)

Cu (%)

Au (g/t)

Zn (%)

Ag (g/t)

Pb (%)

CuEq (1)
(%)

Approx. True Thickness (m)

CURI-350

51.40

54.21

2.81

4.11

7.63

5.78

162.8

0.58

13.74

1.69

 

54.21

56.33

2.12

1.95

2.72

0.58

35.7

0.07

4.61

1.27

 

61.80

62.87

1.07

2.65

2.30

0.33

16.4

0.03

4.68

0.64

 

62.87

75.66

12.79

3.99

4.76

1.97

129.2

0.17

9.70

7.67

including

62.87

65.31

2.44

10.34

12.57

7.26

620.1

0.79

29.28

14.64

  • Metal equivalency based on US$3.55/lb Cu, US$1,835.80/oz Au, US$1.18/lb Zn, US$26.79/oz Ag and US$0.92/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 3, 2021.

 

CURI-351 intersected a narrow section of mineralized grainstone in the hanging wall of the massive sulphide mineralization from 49.07 to 52.10 metres, grading 0.24% copper, 1.85 g/t gold, 0.49% zinc, 12.0 g/t silver, and 0.04% lead (1.94% CuEq). Massive sulphide mineralization was intersected from 52.10 to 68.46 metres, grading 5.42% copper, 3.76 g/t gold, 0.46% zinc, 34.6 g/t silver and 0.03% lead (8.81% CuEq). A subset of higher-grade massive sulphide mineralization was intersected from 52.10 to 54.16 metres, grading 17.62% copper, 20.03 g/t gold, 2.67% zinc, 196.7 g/t silver, and 0.15% lead (35.83% CuEq).

Drill Hole

From
(m)

To
(m)

Thickness
(m)

Cu (%)

Au (g/t)

Zn (%)

Ag (g/t)

Pb (%)

CuEq (1)
(%)

Approx. True Thickness (m)

CURI-351

49.07

52.10

3.03

0.24

1.85

0.49

12.0

0.04

1.94

2.58

 

52.10

68.46

16.36

5.42

3.76

0.46

34.6

0.03

8.81

13.91

including

52.10

54.16

2.06

17.62

20.03

2.67

196.7

0.15

35.83

1.75

  • Metal equivalency based on US$3.55/lb Cu, US$1,835.80/oz Au, US$1.18/lb Zn, US$26.79/oz Ag and US$0.92/lb Pb; noting that no adjustments were made in the metal equivalency calculation for metal recovery. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated February 3, 2021.

 

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 December 2, 2020 news release).

Figure 1 illustrates the drill locations for the three 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.

For reference, the last NI 43-101 Mineral Resource estimate for El Domo was published as part of the preliminary economic assessment report titled: “Technical Report on the Preliminary Economic Assessment for the Curipamba Project – El Domo Deposit, Central Ecuador”, with an effective date of June 14, 2019 on SEDAR.

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 classic fire assay techniques with an AAS finish, while silver and base metals are analyzed by a 44-element aqua regia technique with ICP-AES finish. Overlimit protocols are in place for gold, 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 Mining Corporation is an Ecuador focused copper-gold exploration and development company. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus is advancing the El Domo copper-gold project through a feasibility study, while exploring the broader Curipamba district. In addition, Adventus is engaged in a country-wide exploration alliance with its partners in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Adventus also controls an exploration project portfolio in Ireland with South32 Limited as funding partner as well as an investment portfolio of equities in several exploration companies. Adventus is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ADZN and trades on the OTCQX under the symbol ADVZF.  

About Salazar
Salazar Resources Limited is focused on creating value and positive change through discovery, exploration, and development in Ecuador. The team has an unrivalled understanding of the geology in-country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines. Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-core assets. The Company actively engages with Ecuadorian communities and together with the Salazar family it co-founded The Salazar Foundation, an independent non-profit organization dedicated to sustainable progress through economic development.  The Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stake fully carried through to production.  At two copper-gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried through to a construction decision.

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, President and Chief Executive Officer, at +1-416-230-3440 or [email protected]. Please also visit the Adventus website at www.adventusmining.com and LinkedIn page at https://www.linkedin.com/company/adventus-mining-corporation.

For further information from Salazar, please contact [email protected]

In Europe:
Swiss Resource Capital AG
Jochen Staiger
[email protected]
www.resource-capital.ch

Table 1: Drill Collar Information for Infill Drill Holes at El Domo


Hole ID

EAST

NORTH

ELEV

AZIMUTH

DIP

DEPTH

COMMENT

CURI-370

695040

9854913

888

231

-74

N/A

In Progress

CURI-369

695094

9855482

940

142

-48

N/A

In Progress

CURI-368

695041

9854913

888

331

-58

113.6

Successfully completed per design

CURI-367

695006

9855134

883

196

-45

102.2

Successfully completed per design

CURI-366

694975

9854918

872

186

-72

74.5

Successfully completed per design

CURI-365

694934

9855242

874

151

-72

69.5

Successfully completed per design

CURI-364-A

695131

9855402

946

108

-60

121.8

Successfully completed per design

CURI-364

695134

9855402

946

108

-60

130.4

Successfully completed per design

CURI-363

694934

9855242

874

180

-54

95.0

Successfully completed per design

CURI-362

694975

9854918

872

288

-61

88.9

Successfully completed per design

CURI-361

695134

9855402

946

75

-54

172.8

Successfully completed per design

CURI-360

694934

9855242

874

25

-48

83.0

Successfully completed per design

CURI-359

695006

9855134

883

349

-69

86.5

Successfully completed per design

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

 

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