January-11-2018 18-01 Adzn–v and Srl–v --- 1 --- Adventus Zinc and Salazar Resources Begin Testing Regional Targets at Curipamba Project
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ADVENTUS ZINC AND SALAZAR RESOURCES BEGIN TESTING REGIONAL TARGETS AT CURIPAMBA PROJECT
Toronto, January 11, 2018 – Adventus Zinc Corporation (“Adventus”) (TSX -V: ADZN) and Salazar Resources
Limited (“Salazar”) (TSX -V: SRL) are pleased to announce the commencement of an extensive surface
exploration program for 2018 at the 21,537-hectare Curipamba project located in Ecuador (“Curipamba
Project”). The 2018 regional work program at the Curipamba Project is based upon a thorough target generation
review of a large historical database that includes prospecting, geological mapping, surficial geochemistry,
geophysics and drilling . Adventus and Salazar are confident their methodical appr oach will result in positive
outcomes, and greatly improve their knowledge and understanding of mineralizing system surrounding the El
Domo volcanogenic massive sulphide deposit (“El Domo”). Work in 2018 is primarily targeting new VMS
discoveries, and kick-off programs have commenced at the Sesmo target.
The Curipamba Project hosts El Domo and more than a dozen underexplored precious metal enriched targets;
however, when Salazar discovered El Domo in Q1 2008 (see February 28, 2008 Salazar news release), focus
shifted away from the regional targets and towards Mineral Resource definition drilling. Salazar’s subsequent
work programs have resulted in the current Mineral Resource estimate for El Domo that consists of 6.08 Mt
grading 2.33% Cu, 3.06% Zn, 0.28% Pb, 2.99 g/t Au and 55.8 g/t Ag in the Indicated category, and 3.88 Mt grading
1.56% Cu, 2.19% Zn, 0.16% Pb, 2.03 g/t Au and 42.9 g/t Ag in the Inferred category (see January 16, 2015 Salazar
news release). This Mineral Resource estimate was part of a technical report filed on SEDAR: “Curipamba Project
- El Domo Deposit Amended and Restated Preliminary Economic Assessment Central Ecuador” that was
prepared by Independent Qualified Persons Gustavo Calvo Martin, M.Sc.A., P. Geo and Adam Johnston, B. Eng.,
FAusIMM.
Following completion of an agreement between Adventus and Salazar in 2017 (see September 14, 2017
Adventus news release); which included a significant Adventus work commitment, the companies will not only
advance the evaluation of the development potential for El Domo, but more importantly, renew regional
exploration, starting with the targets previously identified by Salazar.
Sesmo Target
At Sesmo, work started with a review of any historical drill holes near the target; which is located 1,100 metres
north of El Domo. This review will be followed by prospecting, soil sampling, and a 22 -line kilometres IP
geophysical survey, noting that the geophysical survey is key to refining targets for drilling. No follow-up drilling
to the channel samples has been done. Adventus and Salazar anticipate commencement of drilling in February
2018.
The Sesmo target is characterized by outcropping high-grade gold and silver mineralization , in what Salazar
describes as a hydrothermal breccia. These hydrothermal breccia units at Sesmo are hosted in a quartz -eye
phyric dacite volcanic rock, and possess mineralized, silicified, polymetallic clasts in an argillic altered matrix .
Previous surface sampling by Salazar (see April 27, 2007 news release) reported a 15-metre channel sample
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grading 39.1 g/t Au and 741 g/t Ag that included 186.5 g/t Au and 1,055 g/t Ag over 2 metres. No base or other
trace metal values were published by Salazar. Other channel samples reported by Salazar from Sesmo include:
• 10 metres at 9.54 g/t gold and 634.0 g/t silver
• 3 metres at 12.30 g/t gold and 469.0 g/t silver
• 3 metres at 3.67 g/t gold and 12.0 g/t silver
Exploring Curipamba after Sesmo
As noted previously, Sesmo target is one of over a dozen important, previously known, precious metal- rich
targets at Curipamba Project. This includes, but is not limited to Cade, Cade 1, Cade Sur, Roble, Roble 1, Roble
Este, El Gallo, Sesmo Sur, Agua Santa, and La Vaquera as shown in the “Curipamba Project Map of Concessions”
on www.adventuszinc.com.
Cade/Cade 1/Cade Sur Targets
The Cade, Cade 1, and Cade Sur targets stretch along a northeast -southwest trend, and are located 100 to 600
metres west of El Domo respectively. At the Cade 1 target, Salazar noted in the ir May 17, 2007 news release
that rock chip sampling yielded 7 metres grading 9.80 g/t gold, 409.0 g/t silver, and over 1% zinc. Mineralization
is described as being hosted in a hydrothermal breccia.
At Cade Sur, Salazar noted in a June 5, 2007 news release they described that m ineralization is hosted in a
volcanic breccia, possessing polymetallic clasts in an argillic altered matrix with disseminated pyrite. The most
significant channel sample from Cade Sur was 7.63 g /t gold and 291.0 g /t silver over 10 metres; however,
sampling also yielded a channel sample grading 5.03 g /t gold, 376.0 g /t silver, 2.74% copper, and 19.6% zinc
over 1.30 metres.
Roble/Roble 1/Roble Este Targets
The Roble and Roble 1 targets stretch along an east-west trend, and are located 100 metres north of El Domo.
Salazar, in their October 18, 2007 news release, noted that channel sampling of outcrops along a mineralized
trend at Roble 1 yielded a 3.60 metre sample grading 15.12 g /t gold and 258.0 g/t silver; which also had 0.56%
copper, 3.25% lead, and 5.25% zinc. This included a 0.93 metre subsection grading 35.29 g /t gold, 630.0 g/t
silver, 1.36% copper, 7.98% lead, and 12.80% zinc.
Mineralization at surface and appears open; however, it appears the massive sulphide mineralization has been
structurally complicated by a fault structure. Semi-massive to massive sulphide clasts are present along the fault
structure and range in size from 0.05 to 1.00 metres in diameter.
In Salazar’s April 18, 2008 MDA filed on SEDAR, they noted Roble 1 was tested by five drill holes totaling 1,01 5
metres which confirmed the presence of fault-related semi-massive to massive sulphide mineralization, and the
presence of hydrothermal breccia units with stockwork -like base metal mineralization. Highlights of this work
are summarized in Table 1 in the news release Appendix.
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At Roble, two other channel samples yielded 1.00 g/t gold, 95.0 g/t silver, 4.40% copper, and 3.00% zinc over
4.0 metres; including 2.4 g/t gold, 295.0 g/t silver, 15.1% copper, and 6.9% zinc over 1.0 metres; and 1.1 g/t
gold, 3.2 g/t silver, and 3.2% copper over 2.2 metres. In Salazar’s April 18, 2008 MDA filed on SEDAR, they noted
Roble and Roble Este was tested by three drill holes totalling 731 metres that did confirm the presence of fault-
related semi-massive to massive sulphide mineralization, and the presence of hydrothermal breccia units with
stockwork-like base metal mineralization. Highlights of this work are summarized in Table 2 in the Appendix at
end of the news release.
El Gallo Target
The El Gallo target is located approximately 420 metres directly south of El Domo. It is an important target
because the favo urable strata between El Domo and the El Gallo target remains relatively untested . The
mineralization at El Gallo is hosted in a volcanic breccia unit containing polymetallic -barite clasts that occur in
argillic altered matrix . This is interpreted to be a resedimented slump breccia downslope from the volcanic
edifice that is the foci fo r formation of the upper baritic and precious metal -rich portion of massive sulphide
mineralization at El Domo or another nearby unknown VMS deposit.
In Salazar’s March 20, 2007 news release, they noted that channel sampling of outcrops along a mineraliz ed
trend in a creek bed that yielded a 17-metre sample grading 11.2 g/t gold and 505.0 g/t silver. Other channel
samples reported by Salazar from El Gallo include:
• 12 metres at 7.09 g/t gold and 299 g/t silver
• 10 metres at 12.13 g/t gold and 235.0 g/t silver
• 6 metres at 4.00 g/t gold and 38.0 g/t silver
A follow-up drill program at El Gallo noted assay results from four drill holes (see January 21, 2008 Salazar news
release) and a fifth drill hole was disclosed by Salazar in the ir March 12, 2008 news rele ase. Highlights of this
work are summarized in Table 3 in the Appendix at end of the news release.
Sesmo Sur Target
The Sesmo Sur target is located about 5.8 kilomet res southwest of El Domo . It was initially called the El Lobo
target (see June 5, 2007 Salazar news release) ; however, subsequent work identified a broader mineralized
system, and the area was renamed (see September 12, 2007 news release).
Mineralization at Sesmo Sur was characterized by both barite and sulphide minerals hosted within an andesitic
volcanic breccia over an area of 350 metres by 50 metres that has argillic and silica-pyrite alteration both to the
east and west of the target. However, the initial discovery was highlighted by a 68-metre channel sample
grading 2.6 g/t gold and 82 g/t silver; which included 5 metres grading 8.5 g/t gold and 304 g/t silver (see June
5, 2007 news release). Other channel samples reported by Salazar from Sesmo Sur include:
• 44 metres at an average of 3.21 g/t gold and 15.0 g/t silver
• 52 metres at an average of 3.71 g/t gold and 162.0 g/t silver
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• 29 metres at an average of 2.66 g/t gold and 14.0 g/t silver
• 12 metres at an average of 1.07 g/t gold and 183.0 g/t silver
Salazar followed up the successful surface exploration at Sesmo Sur with drilling a t otal of 3,746 metres in
eighteen drill holes (see February 28, 2008 Salazar news release) . Highlights of this work are summarized in
Table 4 in the Appendix at end of the news release.
Although extensive gold and silver mineralization was identified on surface, and the hydrothermal breccia units
were successfully intersected by drilling, more work is required to understand the nature and distribution of
both precious and base metals in this mineralizing system at Sesmo Sur.
La Vaquera Target
During regional exploration work in 2007 about 2 kilometres west of the Sesmo Sur target, fourteen float
boulder and outcrop grab samples were collected in the La Vaquera area that contained gold and silver
mineralization. Values ranged between 0.01 to 16.30 g/t gold and 0.1 to 136.1 g/t silver. Geochemical results
also showed a wide range of copper, lead and zinc.; however, it was copper that provided the best corresponding
results. In addition, Salazar staff collected 256 soil samples that produced a geochemical anomaly for gold
greater than 100 ppb of approximately 200 metres in length. Full maps for La Vaquera target, and its tabulated
geochemical results can be seen in the February 28, 2008 Salazar news release.
Agua Santa Target
Prospecting activities about 1.5 kilometres north of the Sesmo Sur target yielded numerous large float boulder
samples characterized by jasper and what was described as hydrothermal breccia that possessed barite, pyrite,
and sphalerite. Further investigation revealed a broad geochemical anomaly. Values for gold and silver ranged
between 0.01 to 4.99 g/t gold, and 0.1 to 496.0 g/t silver; whereas base metal values graded up to 0.42% copper,
0.99% lead, and 2.89% zinc. Full maps for the Agua Santa target and its tabulated geochemical results can be
seen in the February 28, 2008 Salazar news release.
El Domo Mineral Resource Update
Adventus has retained Roscoe Postle Associates Inc. to complete an updated Mineral Resource estimate for El
Domo. The updated Mineral Resource estimate will be prepared in accordance with Canadian Institute of
Mining, Metallurgy, and Petroleum (“CIM”) Standards on Mineral Resources and Reserves – Definitions and
Guidelines, as referred to in National Instrument (“NI”) 43 -101, and adopted by CIM Council on May 10, 2014 .
This updated Mineral Resource estimate will include all relevant information from Salazar’s 2017 Phase V drilling
program that included 33 drill holes totaling 9,765 metres on El Domo (see September 8, 2017 Salazar news
release). Adventus anticipates that the Mineral Resource update will be available in Q1 2018.
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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 is a well-financed and unique company focused on zinc exploration and project development globally. Its strategic
shareholders include Altius Minerals Corporation, Greenstone Resources LP , and Resource Capital Funds ; as well as other highly
respected investors in the mining business. Adventus currently has large prospective land packages in both Ireland and Newfoundland
and Labrador, Canada, and is earning a 75% ownership interest in the Curipamba copper -gold-zinc project in Ecuador. In addition,
Adventus has a country-wide generative exploration alliance with its partners in Ecuador. Adventus is based in Toronto, Canada, and
is listed on the TSX-V under the symbol ADZN.
About Salazar
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, Salaza r
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 Ven ture
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, proje ctions, objectives, assumptions or
future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expec ts”, “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 has 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 materi ally from
those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Adventus
and Salazar undertakes 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 [email protected].
For further information from Salazar, please contact [email protected].
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APPENDIX:
Table 1: Summary of historical drilling results from Roble 1
Drill Hole
From
(m)
To
(m)
Thickness
(m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) True
Thickness (m)
CURI-07-021 121.52 139.00 17.48 0.04 4.96 0.04 0.00 0.65 (3)
CURI-07-025 101.80 162.95 61.15 0.18 4.07 0.05 0.04 0.70 (3)
CURI-08-029 11.00 19.00 8.00 1.71 31.0 0.00 0.01 0.05 (3)
87.00 107.00 20.00 1.00 29.04 0.03 0.19 0.41 (3)
CURI-07-020 11.59 13.84 2.25 0.13 58.17 0.04 0.18 0.47 (3)
Notes:
(1) Drill holes CURI-07-019 did not have any significant results
(2) QAQC for drill results is summarized in the April 18, 2008 MDA filed on SEDAR by Salazar.
(3) Salazar did not publish any true thickness estimates for Roble 1 in the April 18, 2008 MDA filed on SEDAR due to a lack of geological information on the
orientation of host strata. Additional geological mapping and drilling is required to facilitate true thickness determinations
Table 2: Summary of historical drilling results from Roble
Drill Hole
From
(m)
To
(m)
Thickness
(m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) True
Thickness (m)
CURI-07-022 19.73 25.18 5.45 2.82 34.4 2.14 0.06 0.95 (3)
including 19.73 22.86 3.13 4.77 53.4 3.69 0.10 1.62 (3)
195.63 224.00 28.37 0.17 8.81 0.03 0.05 0.28 (3)
CURI-07-024 15.00 35.30 20.30 0.40 5.51 0.06 0.09 0.67 (3)
Notes:
(1) Drill holes CURI-07-023 did not have any significant results
(2) QAQC for drill results is summarized in the April 18, 2008 MDA filed on SEDAR by Salazar.
(3) Salazar did not publish any true thickness estimates for Roble in the April 18, 2008 MDA filed on SEDAR due to a lack of geological information on the
orientation of host strata. Additional geological mapping and drilling is required to facilitate true thickness determinations
Table 3: Summary of historical drilling results from El Gallo
Drill Hole
From
(m)
To
(m)
Thickness
(m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) True
Thickness (m)
CURI-07-015 8.05 15.00 6.95 4.51 157.0 0.12 0.06 0.04 (3)
CURI-07-016 0.00 8.25 8.25 5.80 66.0 0.08 0.09 0.04 (3)
Including 2.00 7.00 5.00 9.12 104.0 0.09 0.10 0.04 (3)
CURI-07-017 6.09 10.66 4.57 9.45 337.8 0.20 0.23 0.25 (3)
Including 6.09 9.00 2.91 14.42 512.1 0.28 0.27 0.29 (3)
CURI-07-018 13.30 18.28 4.98 3.33 17.8 0.05 0.37 0.03 (3)
Notes:
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(1) Drill holes CURI-07-014 did not have any significant results
(2) QAQC for drill results is summarized in the January 21, 2008 and March 12, 2008 Salazar news releases.
(3) Salazar did not publish any true thickness estimates for El Gallo in either the January 21, 2008 or March 12, 2008 news releases to a lack of geological
information on the orientation of host strata. Additional geological mapping and drilling is required to facilitate true thickness determinations
Table 4: Summary of historical drilling results from Sesmo Sur
Drill Hole
From
(m)
To
(m)
Thickness
(m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) True
Thickness (m)
CURI-07-001 6.09 18.00 11.91 2.25 31.0 0.20 0.27 0.60 (5)
including 12.00 16.00 4.00 2.21 23.0 0.09 0.23 1.61 (5)
56.10 60.00 3.90 1.79 8.4 0.08 0.06 2.76 (5)
104.00 110.00 6.00 0.41 5.2 0.25 0.00 0.02 (5)
CURI-07-002 1.80 5.68 3.88 2.03 23.1 0.09 0.21 0.66 (5)
15.24 22.86 7.48 1.31 20.0 0.11 0.11 1.70 (5)
CURI-07-003 0.70 8.00 7.30 2.56 14.0 0.05 0.36 0.02 (5)
41.14 79.24 38.10 0.63 15.37 0.10 0.23 0.67 (5)
CURI-07-005 0.20 15.24 15.04 2.54 50.1 0.23 0.19 0.25 (5)
including 0.20 2.68 2.48 11.14 107.3 0.07 0.57 0.04 (5)
CURI-07-009 0.40 16.00 15.60 1.45 17.4 0.17 0.10 0.04 (5)
CURI-07-012 16.76 44.19 27.43 0.18 1.6 0.10 0.00 0.36 (5)
57.00 68.50 11.50 0.20 1.6 0.04 0.02 0.51 (5)
CURI-07-026 32.10 37.30 5.20 0.14 5.2 0.13 0.02 1.26 (5)
Notes:
(1) Information also sourced from April 18, 2008 MDA filed on SEDAR where necessary
(2) Drill holes CURI-004, 006, 007, 008, 010, 011, and 013; and CURI-08-027, 028, 031, and 033; did not return any significant results
(3) QAQC for drill results is summarized in the February 28, 2008 news release and April 18, 2008 MDA filed on SEDAR by Salazar.
(4) As cited from the November 27, 2007 MDA filed on SEDAR; “Holes CURI-07-004, CURI-07-006, CURI-07-007, CURI-07-008, CURI-07-009, most of the
cores were lost during the camp invasion (approx. 50%) and the remaining cores are currently being organized to be sent to the Laboratory.”
(5) Salazar did not publish any true thickness estimates for Sesmo Sur in the February 28, 2008 news release to a lack of geological information on the
orientation of host strata. Additional geological mapping and drilling is required to facilitate true thickness determinations