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Denarius Announces an Initial Mineral Resource Estimate for Its Polymetallic Lomero-Poyatos Project in Southern Spain

Denarius Metals Corp.
  • The initial Inferred Mineral Resource comprises 10.66 Mt at 0.45% Cu, 1.02% Zn, 0.41% Pb, 21 g/t Ag and 2.0 g/t Au (1.59% CuEq) containing an estimated 48 kt Cu, 109 kt Zn, 44 kt Pb, 7.4 Moz Ag, 0.7 Moz Au.
  • Based on the results from approximately 26,000 m completed in 83 diamond drill holes in the Phase 1 surface drilling program completed in July 2022, the initial Mineral Resource estimate provides a solid foundation for further mineral resource expansion in Denarius’ forthcoming Phase 2 program. 
  • The initial Mineral Resource estimate assumes both open pit and underground mining and extends from surface to a depth of 350 meters.
  • Completing a directional drilling program to validate a high-grade dataset relative to this MRE associated with a historical drilling campaign of horizontal underground holes that is not yet included in the above initial Mineral Resource estimate.
  • Drilling to date has identified mineralization over a strike of over 1 km and with a vertical extension of 400 meters.
  • This initial MRE confirms the significant high gold grade potential of this project within the Iberian Pyrite Belt, as it remains open for further expansion down-dip and to the east.
  • Continued potential for further resource expansion, with compelling targets already identified via recent detailed helicopter-borne time-domain electromagnetic (“TDEM” or “TEM”) and ground-based gravimetric surveys.

Attachment 1 –Cross Section looking north showing Lomero Poyatos Mineral Resource above a cut-off of 0.6% CuEq

Attachment 2 – Isometric view showing Current Lomero Resource in relation to the geophysical (electromagnetic) anomaly

Attachment 3 – Location of PDH drilling compared to latest model, indicating drilling targets for Phase 2

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