2018 18-21 Adzn–v and Srl–v --- 1 --- Adventus and Salazar Announce Additional 2018 Drill Results at the Curipamba Project, Including 15.39 Metres of 5.21% Copper, 10.39 G/T GOLD, 3.17% Zinc, 55.81 G/T Silver and 0.07% Lead
Date:
News Release:
Ticker Symbols:
September 19-2018
18-21
ADZN–V and SRL–V
--- 1 ---
ADVENTUS AND SALAZAR ANNOUNCE ADDITIONAL 2018 DRILL RESULTS AT THE CURIPAMBA PROJECT,
INCLUDING 15.39 METRES OF 5.21% COPPER, 10.39 G/T GOLD, 3.17% ZINC, 55.81 G/T SILVER AND 0.07% LEAD
Toronto, September 19, 2018 – Adventus Zinc Corporation (“Adventus”) (TSX-V: ADZN) and Salazar Resources
Limited (“Salazar”) (TSX-V: SRL, collectively the “Partners”) are pleased to announce additional drill holes from
the 2018 infill drilling program on the El Domo volcanogenic massive sulphide (“VMS”) deposit; which is part of
the approximately 22,000-hectare Curipamba project located near Las Naves, Ecuador.
Highlights
• CURI-290 intersected 10.93 metres of 1.72% copper, 4.09 g/t gold, 7.49% zinc, 89.2 g/t silver, and 0.67%
lead for 8.62% CuEq;
• CURI-292 intersected 27.47 metres of 3.03% copper, 6.26 g/t gold, 1.79% zinc, 35.0 g/t silver, and 0.04%
lead for 8.33% CuEq; including 15.39 metres of 5.21% copper, 10.39 g/t gold, 3.17% zinc, 55.8 g/t silver,
and 0.07% lead for 14.07% CuEq; and
• CURI-295 intersected 1.38 metres of 4.49% copper, 6.75 g/t gold, 44.23% zinc, 262.0 g/t silver, and 1.95%
lead for 30.09% CuEq.
El Domo Infill Drilling Results
The first phase of infill drilling commenced in early March 2018 with the objective of upgrading the confidence
level of the higher-grade portion of the open-pit constrained Mineral Resource by decreasing drill spacing. The
Partners have now completed the first phase of infill drilling within the higher-grade portion of the open- pit
constrained Mineral Resource with 8,587 metres drilled. A Phase 2 infill drilling program has now been kicked
off for the remainder of the open-pit constrained Mineral Resource; which is anticipated to be completed in late
fourth quarter of 2018.
Drill hole CURI-290 intersected a gold -rich zone of grainstone from 51.00 to 60.04 metres for an approximate
true thickness of 7.68 metres that possessed resedimented clasts of massive sulphide mineralization and graded
0.09% copper, 3.15 g/t gold, 0.35% zinc, 25.6 g/t silver, and 0.06% lead. A subset interval of the gold -rich
grainstone possesses higher-grade from 55.56 to 57.10 metres, grading 0.28% copper, 5.91 g/t gold, 1.11% zinc,
47.0 g/t silver, and 0.13% lead. Massive sulphide mineralization was intersected from 60.04 to 70.97 metres for
an approximate true thickness of 9.29 metres, grading 1.72% copper, 4.09 g/t gold, 7.49% zinc, 89.2 g/t silver,
and 0.67% lead. A subset interval of massive sulphide mineralization possesses significantly higher -grade from
60.04 to 62.04 metres, grading 1.76% copper, 16.01 g/t gold, 23.88% zinc, 208.5 g/t silver, and 1.81% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq(1)
(%)
Approx. True
Thickness (m)
CURI-290 51.00 60.04 9.04 0.09 3.15 0.35 25.6 0.06 2.63 7.68
including 55.56 57.10 1.54 0.28 5.91 1.11 47.0 0.13 5.23 1.31
60.04 70.97 10.93 1.72 4.09 7.49 89.2 0.67 8.62 9.29
including 60.04 64.08 4.04 1.06 8.75 15.72 132.5 1.03 14.95 3.43
including 60.04 62.04 2.00 1.76 16.01 23.88 208.5 1.81 24.85 1.70
including 67.02 70.97 3.95 3.51 1.31 2.44 18.0 0.09 5.58 3.36
Date:
News Release:
Ticker Symbols:
September 19-2018
18-21
ADZN–V and SRL–V
--- 2 ---
(1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the
metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI -292 also intersected a gold -rich zone of grainstone from 56.78 to 62.28 metres for an
approximate true thickness of 4.95 metres that possessed resedimented clasts of massive sulphide
mineralization and graded 0.31% copper, 2.58 g/t gold, 1.27% zinc, 45.6 g/t silver, and 0.18% lead. The
grainstone transitions directly into massive sulphide mineralization from 62.28 to 89.75 metres for an
approximate true thickness of 24.72 metres, grading 3.03% copper, 6.26 g/t gold, 1.79% zinc, 35.0 g/t silver, and
0.04% lead. A subset interval of massive sulphide mineralization possesses significantly higher-grade from 61.91
to 77.30 metres, grading 5.21% copper, 10.39 g/t gold, 3.17% zinc, 55.8 g/t silver, and 0.07% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq(1)
(%)
Approx. True
Thickness (m)
CURI-292 56.78 62.28 5.50 0.31 2.58 1.27 45.6 0.18 3.09 4.95
62.28 89.75 27.47 3.03 6.26 1.79 35.0 0.04 8.33 24.72
including 61.91 82.20 20.29 4.08 8.30 2.41 45.6 0.06 11.12 18.26
including 61.91 77.30 15.39 5.21 10.39 3.17 55.8 0.07 14.07 13.85
including 61.91 67.75 5.84 4.68 19.19 7.75 106.8 0.14 21.85 5.26
(2) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the
metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI-293 intersected well-mineralized grainstone from 63.17 to 66.67 metres for an approximate true
thickness of 3.15 metres, grading 1.01% copper, 2.57 g/t gold, 1.41% zinc, 19.4 g/t silver, and 0.10% lead. The
bottom contact of the grainstone is a well-mineralized fault zone with sulphide fragments that transitions into
massive sulphide mineralization downhole. The fault was intersected from 89.15 to 91.53 metres, grading
1.44% copper, 1.47 g/t gold, 1.11% zinc, 16.3 g/t silver, and 0.04% lead. Massive sulphide mineralization occurs
from 91.53 to 98.36 metres, grading 2.67% copper, 1.13 g/t gold, 0.05% zinc, 11.8 g/t silver, and 0.01% lead. A
subset interval of massive sulphide mineralization possesses significantly higher -grade from 91.53 to 93.62
metres, grading 7.05% copper, 2.15 g/t gold, 0.10% zinc, 22.9 g/t silver, and 0.01% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq(1)
(%)
Approx. True
Thickness (m)
CURI-293 63.17 66.67 3.50 1.01 2.57 1.41 19.4 0.10 3.54 3.15
89.15 91.53 2.38 1.44 1.47 1.11 16.3 0.04 3.06 2.14
91.53 98.36 6.83 2.67 1.13 0.05 11.8 0.01 4.01 6.15
including 91.53 93.62 2.09 7.05 2.15 0.10 22.9 0.01 8.78 1.88
(1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the
metal equivalency calculation for metal recovery, as this is still an early stage project
In CURI-295, a section of well-mineralized dacite volcaniclastic rocks was intersected from 69.75 to 78.84 metres
directly above the massive sulphide mineralization. The mineralized section of volcanic rock has an approximate
true thickness of 8.18 metres, grading 0.21% copper, 0.90 g/t gold, 2.37% zinc, 27.69 g/t silver, and 0.26% lead.
The massive sulphide mineralization occurs from 78.84 to 80.22 metres, grading 4.49 % copper, 6.75 g/t gold,
44.23% zinc, 262.0 g/t silver, and 1.95% lead.
Date:
News Release:
Ticker Symbols:
September 19-2018
18-21
ADZN–V and SRL–V
--- 3 ---
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq(1)
(%)
Approx. True
Thickness (m)
CURI-295 69.24 69.75 0.51 0.24 7.79 2.60 61.1 0.62 7.36 0.46
69.75 78.84 9.09 0.21 0.90 2.37 27.69 0.26 2.16 8.18
78.84 80.22 1.38 4.49 6.75 44.23 262.0 1.95 30.09 1.24
(1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the
metal equivalency calculation for metal recovery, as this is still an early stage project
Drill hole CURI-297, like CURI-290, CURI-292 and CURI-293, also intersected gold-rich grainstone from 44.96 to
52.43 metres, grading 0.06% copper, 2.75 g/t gold, 0.31% zinc, 12.1 g/t silver, and 0.17% lead. The semi-massive
to massive sulphide mineralization is predominantly pyrite -rich with an approximate true thickness of 8.07
metres, occurring from 60.78 to 69.75 metres, grading 0.36% copper, 2.17 g/t gold, 0.81% zinc, 9.8 g/t silver,
and 0.02% lead.
Drill Hole
From
(m)
To
(m)
Thickness
(m)
Cu
(%)
Au
(g/t)
Zn
(%)
Ag
(g/t)
Pb
(%)
CuEq(1)
(%)
Approx. True
Thickness (m)
CURI-297 44.96 52.43 7.47 0.06 2.75 0.31 12.1 0.17 2.22 6.72
60.78 69.75 8.97 0.36 2.17 0.81 9.8 0.02 2.28 8.07
(1) Metal equivalency based on US$3.25/lb Cu, US$1,500/oz Au, US$1.30/lb Zn, US$23/oz Ag and US$1.10/lb Pb; noting that no adjustments were made in the
metal equivalency calculation for metal recovery, as this is still an early stage project
Drill holes CURI-291, CURI-294 and CURI-296 were designed to test the northerly limits of the known massive
sulphide mineralization and further assess the pit wall geology. These drill holes all intersected favourable strata;
however, no semi-massive to massive sulphide mineralization was intersected.
The locations of all drill holes referenced in this press release are shown on the Curipamba Project drill plan
map, which is available on the Adventus website.
Metallurgical Program Start-up
The Partners are pleased to announce the retaining of Base Metallurgical Laboratories Ltd. (“BML”) for a
comprehensive metallurgical study on the Curipamba project focusing on the high-grade El Domo VMS deposit.
The work will be overseen by Tom Shouldice, P.Eng., President of BML at their Kamloops, British Columbia
facilities. This study is expected to optimize metallurgical processes that will provide key information for future
engineering studies. The 2018 test work was designed based upon a review of all historical metallurgical work
completed on the project using conventional processing technologies summarized in the historical Preliminary
Economic Assessment completed for Salazar titled, “Curipamba Project - El Domo Deposit Amended and
Restated Preliminary Economic Assessment Central Ecuador” . This report was prepared by Independent
Qualified Persons Gustavo Ca lvo Martin, M.Sc.A., P. Geo and Adam Johnston, B. Eng., FAusIMM (see Salazar
January 22, 2015 news release). Results from the 2018 metallurgical study are expected to be received by early
2019.
Date:
News Release:
Ticker Symbols:
September 19-2018
18-21
ADZN–V and SRL–V
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Test work will be done using coarse rejects from the first p hase of infill drilling on the higher -grade portion of
the open-pit constrained Mineral Resource to provide three representative, mineralized composites totalling
approximately 600 kilograms. All samples were vacuum sealed with a nitrogen purge to stop wea thering and
preserve the quality of the coarse rejects for test work.
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 N I 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 samp les. 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 classical fire assay
techniques with an ICP-AES finish, and both silver and base metals are analyzed by a 44-element aqua regia ICP-
AES technique. Overlimit protocols are in place for gold, silver, copper, lead, and zinc.
Infill drilling continues to yield intercepts of high-grade, copper- and gold-rich semi-massive to massive sulphide
mineralization within the open -pit constrained Mineral Resource update for the El Domo VMS deposit
completed by Roscoe Postle Associates Inc . (“RPA”). The Indicated Mineral Resource totals 8.8 million tonnes
grading 1.62% copper, 2.34 g/t gold, 2.42% zinc, 48.0 g/t silver, and 0.27% lead. The Inferred Mineral Resource
totals 2.6 million tonnes grading 1.29% copper, 1.09 g/t gold, 1.51% zinc, 29.0 g/t silver, and 0.14% lead (see
January 31, 2018 news release). The National Instrument (“NI”) 43 -101 Technical Report was authored by
Independent Qualified Person Dr. Lars Weiershäuser, P.Geo., of RPA (based in Toronto, Ontario, Canada) who
is a Qualified Person as defined by NI 43-101.
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 Zinc is a well -financed company focused on base metals exploration and project development globally. Its strategic
shareholders include Altius Minerals Corporation, Greenstone Resources LP , Resource Capital Funds, and Wheaton Precious Metals
Corp.; as well as other highly respected investors in the mining business. The focus of Adventus is the advancement of the Curipamba
copper-gold-zinc project in Ecuador as part of an earn -in agreement to obtain a 75% ownership interest. In addition, Adventus is
engaged in a country-wide exploration alliance with its partners in Ecuador, incorporating two projects to date. Elsewhere globally,
Adventus owns a large prospective mineral land package in Ireland totalling 1,950 km2 and, through its ownership interest in Canstar
Resources Inc., is actively participating in the exploration upside of a prospective mineral land package in Newfoundland and Labrador,
Canada totalling 550 km2. Adventus is based in Toronto, Canada, and is listed on the TSX -V under the symbol ADZN.
Date:
News Release:
Ticker Symbols:
September 19-2018
18-21
ADZN–V and SRL–V
--- 5 ---
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 se nior 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 portf olio
(6 projects – 33,383 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar
has positioned itself to be a strategic player in Ecuador.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defi ned 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, assum ptions 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 de velopments that
Adventus and Salazar expect or anticipate will or may occur in the future. Although Adventus and Salazar ha ve 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 undertake 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
For further information from Salazar, please contact [email protected].