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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (168977)12/7/2022 3:40:43 PM
From: LoneClone  Read Replies (1) of 169904
 
Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground - Including 9.46 metres of 8.83% Copper Equivalent

newswire.ca

Adventus Mining Corporation Dec 07, 2022, 06:45 ET




Figure 1 - Drill Collar Location Map for El Domo (CNW Group/Adventus Mining Corporatio

n) TORONTO, Dec. 7, 2022 Adventus Mining Corporation ("Adventus Mining") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQB: SRLZF) (collectively the "Participants") are pleased to announce the additional infill drilling results from the underground portion of the El Domo volcanogenic massive sulphide deposit ("El Domo") located within the 21,537-hectare Curipamba project in central Ecuador. The infill drilling program for the underground portion of the Mineral Resource at El Domo, as announced in the August 29, 2022 news release, continues with two diamond drill rigs.


Highlights – Drill Results from the El Domo Deposit at Curipamba :
  • CURI-405 intersected 9.46 metres of 7.49% copper, 2.37 g/t gold, 2.93% zinc, 75.4 g/t silver and 0.01% lead for 8.83 % copper equivalent ("CuEq") – including 5.27 metres of 12.08% copper, 4.00 g/t gold, 5.24% zinc, 131.1 g/t silver, and 0.02% lead for 14.55% CuEq
  • CURI-403 intersected 7.63 metres 0.87% copper, 3.91 g/t gold, 3.09% zinc, 40.7 g/t silver, and 0.50% lead for 4.16% CuEq – including 3.00 metres, grading 0.83% copper, 9.18 g/t gold, 5.67% zinc, 76.0 g/t silver and 1.13% lead for 8.00% CuEq
  • CURI-404 intersected 4.88 metres of 2.29% copper, 0.88 g/t gold, 0.99% zinc, 50.4 g/t silver, and 0.09% lead for 2.96% CuEq – including 0.90 metres of 3.93% copper, 2.25 g/t gold, 1.24% zinc, 103.9 g/t silver and 0.23% lead for 5.31% CuEq


  • Drill hole CURI-401 intersected a thick section of lower-grade semi-massive sulphide intercalated with gypsum alteration from 171.54 to 187.82 metres with a narrower section from 171.54 to 173.90 metres, grading 1.17% copper, 0.62 g/t gold, 0.39% zinc, 21.5 g/t silver, and 0.11% lead. A higher-grade subset was intersected from 171.54 to 172.20, grading 3.39% copper, 0.69 g/t gold, 1.27% zinc, 65.1 g/t silver, and 0.37% lead.




    Drill Hole

    From

    (m)

    To

    (m)

    Thickness

    (m)

    Cu
    (%)


    Au
    (g/t)


    Zn
    (%)


    Ag
    (g/t)


    Pb
    (%)


    Copper Equivalency
    (%) (1) (2)


    Approx. True
    Thickness (m)


    CURI-401

    171.54

    173.90

    2.36

    1.17

    0.62

    0.39

    21.5

    0.11

    1.53

    1.65

    including

    171.54

    172.20

    0.66

    3.39

    0.69

    1.27

    65.1

    0.37

    4.07

    0.46






    (1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
    (2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".







    CURI-402 intersected semi-massive to massive sulphide mineralization from 201.57 to 206.31 metres, grading 2.84% copper, 0.75 g/t gold, 0.06% zinc, 7.8 g/t silver and 0.01% lead. A higher-grade subset was intersected from 203.11 to 204.24 metres, grading 10.25% copper, 1.47 g/t gold, 0.14% zinc, and 24.8 g/t silver and 0.01% lead.




    Drill Hole

    From

    (m)

    To

    (m)

    Thickness

    (m)

    Cu (%)

    Au (g/t)

    Zn (%)

    Ag (g/t)

    Pb (%)

    Copper Equivalency
    (%)(1) (2)


    Approx. True Thickness (m)

    CURI-402

    201.57

    206.31

    4.74

    2.84

    0.75

    0.06

    7.8

    0.01

    2.37

    3.08

    including

    203.11

    204.24

    1.13

    10.25

    1.47

    0.14

    24.8

    0.01

    8.42

    0.73

    including

    203.11

    203.70

    0.59

    18.57

    2.06

    0.25

    43.4

    0.01

    15.20

    0.38






    (1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
    (2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".




    Drill hole CURI-403 intersected semi-massive to massive sulphide mineralization with intercalated felsic autobreccia at the base of the intercept, from 237.10 to 244.73 metres, grading 0.87% copper, 3.91 g/t gold, 3.09% zinc, 40.7 g/t silver, and 0.50% lead. A higher-grade subsection occurs from 237.10 to 240.10 metres, grading 0.83% copper, 9.18 g/t gold, 5.67% zinc, 76.0 g/t silver and 1.13% lead.




    Drill Hole

    From

    (m)

    To

    (m)

    Thickness

    (m)

    Cu
    (%)


    Au
    (g/t)


    Zn
    (%)


    Ag
    (g/t)


    Pb
    (%)


    Copper Equivalency
    (%) (1) (2)


    Approx. True
    Thickness (m)


    CURI-403

    237.10

    244.73

    7.63

    0.87

    3.91

    3.09

    40.7

    0.50

    4.16

    6.49

    including

    237.10

    240.10

    3.00

    0.83

    9.18

    5.67

    76.0

    1.13

    8.00

    2.55






    (1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
    (2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".




    Drill hole CURI-404 intersected semi-massive sulphide mineralization from 245.15 to 250.03 metres, grading 2.29% copper, 0.88 g/t gold, 0.99% zinc, 50.4 g/t silver, and 0.09% lead. A higher-grade subsection occurs from 249.13 to 250.03 metres, grading 3.93% copper, 2.25 g/t gold, 1.24% zinc, 103.9 g/t silver and 0.23% lead.




    Drill Hole

    From

    (m)

    To

    (m)

    Thickness

    (m)

    Cu
    (%)


    Au
    (g/t)


    Zn
    (%)


    Ag
    (g/t)


    Pb
    (%)


    Copper Equivalency
    (%)(1) (2)


    Approx. True
    Thickness (m)


    CURI-404

    245.15

    250.03

    4.88

    2.29

    0.88

    0.99

    50.4

    0.09

    2.96

    3.42

    including

    249.13

    250.03

    0.90

    3.93

    2.25

    1.24

    103.9

    0.23

    5.31

    0.63






    (1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
    (2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".




    Drill hole CURI-405 intersected semi-massive sulphide mineralization with intercalated felsic autobreccia from 205.42 to 208.33 metres, grading 1.85% copper, 2.03 g/t gold, 0.51% zinc, 10.1 g/t silver, and 0.01% lead. A thick section of semi-massive to massive sulphide mineralization occurs from 214.06 to 223.52 metres, grading 7.49% copper, 2.37 g/t gold, 2.93% zinc, 75.4 g/t silver and 0.01% lead. A higher-grade section occurs from 214.06 to 219.33 metres, grading 12.08% copper, 4.00 g/t gold, 5.24% zinc, 131.1 g/t silver, and 0.02% lead.




    Drill Hole

    From

    (m)

    To

    (m)

    Thickness

    (m)

    Cu
    (%)


    Au
    (g/t)


    Zn
    (%)


    Ag
    (g/t)


    Pb
    (%)


    Copper Equivalency
    (%)(1) (2)


    Approx. True
    Thickness (m)


    CURI-405

    205.42

    208.33

    2.91

    1.85

    2.03

    0.51

    10.1

    0.01

    1.78

    2.47


    214.06

    223.52

    9.46

    7.49

    2.37

    2.93

    75.4

    0.01

    8.83

    8.04

    including

    214.06

    219.33

    5.27

    12.08

    4.00

    5.24

    131.1

    0.02

    14.55

    4.48






    (1) Metal equivalency based on US$3.43/lb Cu, US$1,676/oz Au, US$1.32/lb Zn, US$18.43/oz Ag and US$0.93/lb Pb. Prices taken from 6-month contracts for precious metals and 3-month contracts for base metals from the London Metal Exchange, dated October 14, 2022.
    (2) Metal equivalency adjusted for metal recoveries based on detailed metallurgical data from Feasibility Study filed on SEDAR, effective data October 26, 2021. The report is titled – "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador".




    All results from the infill drilling program are to be used in updating the underground portion of the Mineral Resource estimate for El Domo in 2023, which will be part of a future feasibility study that will integrate the development of a potential underground operation in addition to the planned open pit (see August 29, 2022 news release). Figure 1 illustrates the drill locations for the results of the five drill holes outlined in this news release. 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 Mineral Resource estimate completed in accordance with NI 43-101 for El Domo was published as part of the Feasibility Study report titled: "NI 43-101 Technical Report, Feasibility Study, Curipamba El Domo Project, Central Ecuador", with an effective date of October 26, 2021 on SEDAR.


    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 Vancouver, Canada 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, samples from regional drilling have silver and base metals analyzed by a modified ore grade 24-element aqua regia technique with ICP-ES finish. Gold is analyzed by fire assay fusion with AAS 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 Mining, a non-Independent Qualified Person, as defined by NI 43-101.


    About Adventus Mining
    Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and development company. Adventus Mining is majority owner of the 215 sq. km Curipamba copper-gold project, which has a completed feasibility study on the shallow and high-grade El Domo deposit. In addition, Adventus Mining is engaged in a country-wide exploration alliance in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Outside of Ecuador, Adventus Mining owns an exploration project portfolio in Ireland with South32 Limited as the funding participant. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus Mining 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.

    Please also visit the Adventus Mining website at www.adventusmining.com.


    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.

    Please also visit the Salazar Resources website at www.salazarresources.com.

    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. Forward-looking statements are based on the beliefs, expectations, and opinions of the ?management of the Participants as of the date the statement is published, and the Participants assume no ?obligation to update any forward-looking statement, except as required by law. In certain cases, forward–?looking statements can be identified by the use of words such as "plans", "expects", "outlook", ??"guidance", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or ?variations of such words and phrases or statements that certain actions, events or results "may", "could", ??"would", "might", "will be taken", "occur" or "be achieved" or the negative of these terms or comparable ?terminology.?

    Forward-looking information herein includes, but is not limited to, statements that address activities, events, or developments that Adventus Mining and Salazar expect or anticipate will or may occur in the future. Although Adventus Mining 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 Mining and Salazar undertake to update any forward-looking information except in accordance with applicable securities laws.

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




    Hole ID

    EAST

    NORTH

    ELEV

    AZIMUTH

    DIP

    DEPTH

    COMMENT

    CURI-419

    695494

    9855286

    1027

    296

    -70

    -

    In Progress

    CURI-418

    695459

    9855361

    1017

    303

    -78

    -

    In Progress

    CURI-417

    695494

    9855286

    1027

    151

    -70

    269.40

    Successfully completed per design

    CURI-416

    695494

    9855286

    1027

    180

    -73

    262.80

    Successfully completed per design

    CURI-415

    695459

    9855361

    1017

    317

    -66

    245.85

    Successfully completed per design

    CURI-414

    695440

    9855274

    1028

    164

    -73

    221.30

    Successfully completed per design

    CURI-413

    695454

    9855407

    1025

    165

    -75

    237.60

    Successfully completed per design

    CURI-412

    695440

    9855274

    1028

    203

    -75

    269.40

    Successfully completed per design

    CURI-411

    695177

    9855005

    929

    69

    -69

    176.00

    Successfully completed per design

    CURI-410

    695440

    9855274

    1028

    210

    -65

    314.30

    Successfully completed per design

    CURI-409

    695400

    9855298

    1017

    301

    -71

    264.25

    Successfully completed per design

    CURI-408

    695400

    9855298

    1017

    127

    -69

    243.60

    Successfully completed per design

    CURI-407

    695431

    9855413

    1007

    12

    -62

    203.00

    Successfully completed per design

    CURI-406

    695269

    9855341

    1000

    270

    -78

    221.15

    Successfully completed per design

    CURI-405

    695431

    9855413

    1007

    317

    -69

    247.60

    Successfully completed per design

    CURI-404

    695309

    9855341

    1000

    210

    -67

    286.90

    Successfully completed per design

    CURI-403

    695181

    9855413

    1007

    331

    -62

    257.15

    Successfully completed per design

    CURI-402

    695400

    9855298

    1017

    239

    -79

    245.30

    Successfully completed per design

    CURI-401

    695375

    9855400

    996

    238

    -73

    224.00

    Successfully completed per design

    CURI-400

    695400

    9855298

    1017

    237

    -67

    284.10

    Successfully completed per design

    CURI-399

    695375

    9855400

    996

    41

    -65

    212.25

    Successfully completed per design

    CURI-398

    695400

    9855298

    1017

    196

    -71

    272.00

    Successfully completed per design

    CURI-397

    695271

    9855452

    985

    178

    -81

    208.80

    Successfully completed per design

    CURI-396

    695394

    9855668

    957

    252

    -68

    179.45

    Successfully completed per design

    CURI-395

    695349

    9855650

    972

    151

    -64

    211.50

    Successfully completed per design

    CURI-394

    695436

    9855590

    980

    241

    -73

    216.30

    Successfully completed per design

    CURI-393

    695394

    9855668

    957

    159

    -72

    96.00

    Successfully completed per design

    CURI-392

    695395

    9855600

    994

    122

    -65

    224.95

    Successfully completed per design






    Notes:
    (1) All drill holes are surveyed in UTM Datum (Provisional South American 1956, Zone 17)




    SOURCE Adventus Mining Corporation

    For further information: Adventus Mining, please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or christian@adventusmining.com; Salazar Resources, please contact Merlin Marr-Johnson, Executive Vice President, at +1 604 685 9316 or merlin@salazarresources.com.


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