Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground
Date:
News Release:
Ticker Symbols:
December 7, 2022
22-25
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 1 of 6 –
Adventus Mining and Salazar Announce Additional Drilling Results for El Domo Underground
– Including 9.46 metres of 8.83% Copper Equivalent
Toronto, December 7, 2022 – Adventus Mining Corporation (“Adventus Mining”) (TSX-V: ADZN, OTCQX: ADVZF) and
Salazar Resources Limited (“Salazar”) (TSX-V: 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 0.0 1% 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.
Date:
News Release:
Ticker Symbols:
December 7, 2022
22-25
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
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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 m assive 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 mineral ization 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.
Date:
News Release:
Ticker Symbols:
December 7, 2022
22-25
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
– 3 of 6 –
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 i nfill drilling program are to be used in updating the underground portion of the Mineral Resource
estimate for El Domo in 202 3, 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 hole s 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 an d 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.
Date:
News Release:
Ticker Symbols:
December 7, 2022
22-25
ADZN (TSXV), ADVZF (OTCQX), SRL (TSXV) SRLZF (OTCQB)
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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 whol ly
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 econo mic 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. Forward -
looking statements are based on the beliefs, expectations, and opinions of the management of the Partic ipants 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 "pl ans", "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", "mi ght", "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 d escribed
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.
For further information from Adventus Mining, please contact Christian Kargl -Simard, President and Chief Executive
Officer, at +1-416-230-3440 or [email protected]. Please also visit the Adventus Mining website at
www.adventusmining.com.
For further information from Salazar Resources, please contact Merlin Marr-Johnson, Executive Vice President, at +1 604
685 9316 or [email protected]. Please also visit the Salazar Resources website at
www.salazarresources.com.
Date:
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Ticker Symbols:
December 7, 2022
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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)
Date:
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Ticker Symbols:
December 7, 2022
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Figure 1: Drill Collar Location Map for El Domo