Champion Iron Limited press release
Adventus and Salazar Announce Final 2018 Drill Results at the Curipamba Project, Including 24.02 Metres of 5.41% Copper, 6.40 g/t Gold, 2.68% Zinc, 58.6 g/t Silver and 0.15% Lead
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Canada NewsWire
TORONTO, Feb. 11, 2019
TORONTO, Feb. 11, 2019/CNW/ -Adventus Zinc Corporation ("Adventus") (TSX-V: ADZN; OTCQX: ADVZF)and Salazar Resources Limited ("Salazar") (TSX-V: SRL) (collectively the "Partners")are pleased to announce final drilling results from the 2018 infill 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-326 intersected 17.88 metres of 4.45% copper, 5.04 g/t gold, 2.09% zinc, 94.6 g/t silver, and 0.27% lead for 9.75% CuEq; including 4.80 metres of 12.55% copper, 15.52 g/t gold, 7.45% zinc, 324.5 g/t silver and 0.94% lead for 29.64% CuEq; CURI-336 intersected 24.02 metres of 5.41% copper, 6.40 g/t gold, 2.68% zinc, 58.6 g/t silver, and 0.15% lead for 11.45% CuEq; including 1.81 metres of 4.27% copper, 16.61 g/t gold, 13.98% zinc, 205.8 g/t silver and 1.44% lead for 23.65% CuEq, and; CURI-337 intersected 2.73 metres of 3.31% copper, 11.50 g/t gold, 22.87% zinc, 457.2 g/t silver, and 0.44% lead for 25.07% CuEq.
The optimized Phase 2 infill drilling program at El Domo was successfully completed in late December 2018on the open-pit constrained Mineral Resource, for a full year total of 12,608 metres of infill drilling between both phases of the work program. The final 2018 drilling results are detailed in this news release.
Adventus has engaged Roscoe Postleand Associates Inc. ("RPA") to produce a Preliminary Economic Assessment ("PEA") for the Curipamba project that will include a Mineral Resource update with all 2018 drilling results. RPA has also been retained to conduct additional engineering work including but not limited to overseeing the ongoing metallurgical work at Base Metallurgical Laboratories Ltd. ("BML") announced in the September 19, 2018news release.
The Partners are also planning additional exploration drill holes in 2019 at the Curipamba, Pijili and Santiagoprojects in Ecuadorafter completion of a MobileMT airborne geophysical survey. The survey contractors have recently completed work at the Pijili project and are currently working at the Santiagoproject. When the survey is completed at the Santiagoproject, the airborne geophysical equipment will be moved to Curipamba for immediate use. Following the processing of acquired geophysical data, a detailed target generation initiative will commence, and diamond drills will be deployed to test newly developed exploration targets.
El Domo Infill Drilling Results
Drill hole CURI-324 intersected gold-rich, mineralized grainstone in the hanging wall of the massive sulphide mineralization. The grainstone occurs from 86.19 to 89.32 metres grading 0.18% copper, 1.86 g/t gold, 2.46% zinc, 31.6 g/t silver, and 0.13% lead. The massive sulphide mineralization was intersected from 89.32 to 91.11 metres grading 0.57% copper, 12.48 g/t gold, 13.87% zinc, 600.3 g/t silver, and 3.98% 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-324 | 86.19 | 89.32 | 3.13 | 0.18 | 1.86 | 2.46 | 31.6 | 0.13 | 2.79 | 2.74 | | | 89.32 | 91.11 | 1.79 | 0.57 | 12.48 | 13.87 | 600.3 | 3.98 | 22.06 | 1.57 |
| (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-326 intersected a section of gold-rich, mineralized grainstone from 92.39 to 105.86 metres within a much broader section of grainstone. The intercept graded 0.50% copper, 1.76 g/t gold, 1.28% zinc, 24.8 g/t silver and 0.11% lead. A subset interval of the grainstone was significantly higher grade from 96.10 to 99.62 metres grading 0.18% copper, 3.35 g/t gold, 4.06% zinc, 65.2 g/t silver, and 0.32% lead. Stratigraphically under the grainstone is a thick interval of copper-rich massive sulphide mineralization from 105.86 to 123.74 metres, grading 4.45% copper, 5.04g/t gold, 2.09% zinc, 94.6 g/t silver, and 0.27% lead. A subset interval of massive sulphide mineralization possesses significantly higher-grade from 105.86 to 110.66 metres, grading 12.55% copper, 15.52 g/t gold, 7.45% zinc, 324.5 g/t silver, and 0.94% 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-326 | 92.39 | 105.86 | 13.47 | 0.50 | 1.76 | 1.28 | 24.8 | 0.11 | 2.49 | 12.46 | | including | 96.10 | 99.62 | 3.52 | 0.18 | 3.35 | 4.06 | 65.2 | 0.32 | 4.84 | 3.26 | | | 105.86 | 123.74 | 17.88 | 4.45 | 5.04 | 2.09 | 94.6 | 0.27 | 9.75 | 16.54 | | including | 105.86 | 110.66 | 4.80 | 12.55 | 15.52 | 7.45 | 324.5 | 0.94 | 29.64 | 4.44 |
| (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 |
CURI-328 intersected high-grade grainstone with abundant massive sulphide clasts from 90.10 to 111.30 metres that was complicated by the injection of a basaltic sill intrusion. The best intercept occurs from 90.10 to 100.00 metres grading 6.77% copper, 5.27 g/t gold, 2.50% zinc, 93.7 g/t silver, and 0.26% lead. A subset of grainstone had higher grades from 91.30 to 93.00 metres grading 20.04% copper, 11.31 g/t gold, 4.41% zinc, 193.8 g/t silver, and 0.38% lead. Beneath the grainstone is a narrow, copper-rich massive sulphide layer that is complicated by faulting from 111.30 to 113.03 metres, grading 4.53% copper, 3.24 g/t gold, 0.11% zinc, 24.8 g/t silver, and 0.03% 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-328 | 90.10 | 100.00 | 9.90 | 6.77 | 5.27 | 2.50 | 93.7 | 0.26 | 12.37 | 8.42 | | including | 91.30 | 93.00 | 1.70 | 20.04 | 11.31 | 4.41 | 193.8 | 0.38 | 31.55 | 1.45 | | | 100.00 | 108.32 | 8.32 | 0.90 | 1.03 | 2.41 | 48.0 | 0.42 | 3.19 | 7.07 | | | 108.32 | 111.30 | 2.98 | 1.20 | 5.87 | 2.79 | 57.3 | 0.16 | 6.91 | 2.53 | | | 111.30 | 113.03 | 1.73 | 4.53 | 3.24 | 0.11 | 24.8 | 0.03 | 7.02 | 1.47 |
| (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-330 intersected gold-rich grainstone from 81.20 to 84.84 metres, grading 0.21% copper, 4.05 g/t gold, 3.78% zinc, 97.0 g/t silver and 0.45% lead. Beneath the grainstone is a thin, copper-rich massive sulphide interval from 89.22 to 89.95 metres, grading 6.78% copper, 0.59 g/t gold, 0.06% zinc, 20.1 g/t silver and 0.01% lead. Directly in the footwall to the massive sulphide mineralization is wide section of low-grade hydrothermal breccia in the dacite volcaniclastic rocks from 89.95 to 118.94 metres, grading 0.03% copper, 1.55 g/t gold, 0.26% zinc, 18.3 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-330 | 81.20 | 84.84 | 3.64 | 0.21 | 4.05 | 3.78 | 97.0 | 0.45 | 5.60 | 2.73 | | | 89.22 | 89.95 | 0.73 | 6.78 | 0.59 | 0.06 | 20.1 | 0.01 | 7.41 | 0.55 | | | 89.95 | 118.94 | 28.99 | 0.03 | 1.55 | 0.26 | 18.3 | 0.07 | 1.39 | 21.74 | | including | 89.95 | 92.72 | 2.77 | 0.22 | 1.34 | 2.12 | 25.4 | 0.50 | 2.40 | 2.08 |
| (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-332 intersected a thick section of well mineralized grainstone and semi-massive to massive sulphide mineralization from 88.33 to 102.00 metres. The semi-massive sulphide mineralization occurs from 88.33 to 92.69 metres, grading 0.86% copper, 1.30 g/t gold, 0.94% zinc, 17.1 g/t silver and 0.10% lead. Stratigraphically under the semi-massive sulphide mineralization is a gold-rich grainstone interval from 92.69 to 94.90 metres, grading 0.47% copper, 3.12 g/t gold, 3.80% zinc, 40.5 g/t silver and 0.44% lead. Massive sulphide mineralization was intersected from 94.90 to 102.00 metres and is complicated by faulting, grading 4.49% copper, 2.32 g/t gold, 0.69% zinc, 16.2 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-332 | 88.33 | 92.69 | 4.36 | 0.86 | 1.30 | 0.94 | 17.1 | 0.10 | 2.32 | 3.60 | | | 92.69 | 94.90 | 2.21 | 0.47 | 3.12 | 3.80 | 40.5 | 0.44 | 4.66 | 1.82 | | | 94.90 | 102.00 | 7.10 | 4.49 | 2.32 | 0.69 | 16.2 | 0.02 | 6.05 | 5.86 |
| (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-333 intersected mineralized grainstone within a broader interval from 79.00 to 83.00 metres, grading 0.32% copper, 1.36 g/t gold, 0.34% zinc, 20.7 g/t silver and 0.10% lead. Pyritic massive sulphide mineralization was intersected from 83.00 to 91.00 metres, grading 0.13% copper, 1.27 g/t gold, 0.69% zinc, 12.2 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-333 | 79.00 | 83.00 | 4.00 | 0.32 | 1.36 | 0.34 | 20.7 | 0.10 | 1.62 | 3.30 | | | 83.00 | 91.00 | 8.00 | 0.13 | 1.27 | 0.69 | 12.2 | 0.01 | 1.39 | 6.60 |
| (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-334 intersected a thick section of low-grade hydrothermal breccia in dacite volcaniclastic rocks in the hanging wall of the massive sulphide mineralization from 30.00 to 44.90 metres, grading 0.15% copper, 3.59 g/t gold, 1.99% zinc, 97.9 g/t silver and 0.48% lead. A subset interval within the low-grade hydrothermal breccia possessed higher grade from 33.00 to 37.00 metres, grading 0.20% copper, 8.49 g/t gold, 2.94% zinc, 199.6 g/t silver and 0.89% lead. The drill hole then cut an epiclastic section that included both grainstone and fine-grained facies with mineralized grainstone occurring from 63.40 to 66.61 metres, grading 0.06% copper, 2.41 g/t gold, 0.13% zinc, 16.8 g/t silver and 0.05% lead. Stratigraphically beneath the epiclastic section is a zinc-rich massive sulphide section occurs from 66.61 to 67.37 metres, grading 1.92% copper, 28.20 g/t gold, 42.81% zinc, 337.0 g/t silver, and 6.75% 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-334 | 30.00 | 44.90 | 14.90 | 0.15 | 3.59 | 1.99 | 97.9 | 0.48 | 4.54 | 13.41 | | including | 33.00 | 37.00 | 4.00 | 0.20 | 8.49 | 2.94 | 199.6 | 0.89 | 9.45 | 3.60 | | | 44.90 | 48.56 | 3.66 | 1.43 | 0.32 | 1.02 | 20.8 | 0.11 | 2.31 | 3.29 | | | 63.40 | 66.61 | 3.21 | 0.06 | 2.41 | 0.13 | 16.8 | 0.05 | 1.92 | 2.89 | | | 66.61 | 67.37 | 0.76 | 1.92 | 28.20 | 42.81 | 337.0 | 6.75 | 43.79 | 0.68 | | | 67.37 | 69.35 | 1.98 | 0.27 | 0.63 | 2.82 | 20.2 | 0.92 | 2.34 | 1.78 |
| (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-336 intersected a thick section of gold-rich grainstone in the hanging wall of the semi-massive to massive sulphide mineralization from 42.37 to 54.82 metres, grading 0.07% copper, 1.71 g/t gold, 0.29% zinc, 8.4 g/t silver and 0.11% lead. A subset interval within the grainstone possessed higher grade from 46.31 to 54.82 metres, grading 0.09% copper, 2.18 g/t gold, 0.32% zinc, 9.8 g/t silver and 0.12% lead. The drill hole then intersected semi-massive to massive sulphide mineralization from 54.82 to 78.84 metres, grading 5.41% copper, 6.40 g/t gold, 2.68% zinc, 58.6 g/t silver, and 0.15% lead. A zinc-rich semi-massive sulphide section occurs from 54.82 to 56.63 metres, grading 4.27% copper, 16.61 g/t gold, 13.98% zinc, 205.8 g/t silver, and 1.44% lead. This is followed by a copper-rich section from 56.63 to 71.00 metres, grading 8.37% copper, 7.83 g/t gold, 2.58% zinc, 67.5 g/t silver and 0.07% lead. The remaining massive sulphide is predominantly pyritic from 71.00 to 78.84 metres with negligible base and precious metals.
| Drill Hole | From
(m) | To
(m) | Thickness
(m) | Cu
(%) | Au
(g/t) | Zn
(%) | Ag
(g/t) | Pb
(%) | CuEq(1)
(%) | Approx. True
Thickness (m) | | CURI-336 | 42.37 | 54.82 | 12.45 | 0.07 | 1.71 | 0.29 | 8.4 | 0.11 | 1.46 | 11.83 | | including | 46.31 | 54.82 | 8.51 | 0.09 | 2.18 | 0.32 | 9.8 | 0.12 | 1.83 | 8.08 | | | 54.82 | 78.84 | 24.02 | 5.41 | 6.40 | 2.68 | 58.6 | 0.15 | 11.45 | 22.82 | | including | 54.82 | 56.63 | 1.81 | 4.27 | 16.61 | 13.98 | 205.8 | 1.44 | 23.65 | 1.72 | | including | 56.63 | 71.00 | 14.37 | 8.37 | 7.83 | 2.58 | 67.5 | 0.07 | 15.39 | 1.37 | | including | 71.00 | 78.84 | 7.84 | 0.25 | 1.41 | 0.27 | 8.2 | 0.01 | 1.40 | 7.45 | | | 78.84 | 86.70 | 7.86 | 0.02 | 0.94 | 0.03 | 3.9 | 0.02 | 0.71 | 7.47 |
| (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 |
CURI-337 intersected a faulted, gold-rich grainstone unit from 107.00 to 119.88 metres, grading 0.23% copper, 2.41 g/t gold, 0.97% zinc, 49.3 g/t silver, and 0.22% lead. A subset of the interval had higher grades from 108.00 to 109.70 metres, grading 0.37% copper, 6.22 g/t gold, 2.17% zinc, 161.0 g/t silver, and 0.76% lead. The drill hole was lost in a fault zone at 124.50 metres but did intersect massive sulphide mineralization from 119.88 to 122.61 metres, grading 3.31% copper, 11.50 g/t gold, 22.87% zinc, 457.2 g/t silver, and 0.44% 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-337 | 107.00 | 119.88 | 12.88 | 0.23 | 2.41 | 0.97 | 49.3 | 0.22 | 2.82 | 11.59 | | including | 108.00 | 109.70 | 1.70 | 0.37 | 6.22 | 2.17 | 161.0 | 0.76 | 7.34 | 1.53 | | | 119.88 | 122.61 | 2.73 | 3.31 | 11.50 | 22.87 | 457.2 | 0.44 | 25.07 | 2.46 |
| (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-325, CURI-327, CURI-329 and CURI-331 were designed to test the 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, but rather narrow, sporadic low-grade hydrothermal breccia units in footwall dacite volcaniclastic rocks. CURI-335, which was also designed for the same purpose, did intersect 4.87 metres of low-grade hydrothermal breccia mineralization from 48.80 to 53.67 metres grading 0.58% copper, 0.15 g/t gold, 3.80% zinc, 12.1 g/t silver and 0.01% lead.
Other Results
In the Sesmo area, technical staff conducted a thorough assessment of 2018 drill holes due to the subtle nature of mineralization in order to relate their observations back to study positive assay results from CURI-254, CURI-254A, and CURI-274 (see April 30, 2018and September 6, 2018news releases). Several drill holes were selected for resampling including CURI-258, CURI-263, CURI- 267 and CURI-271, but except for some geochemically anomalous narrow intervals, no significant results have been returned. Subsequent drill holes CURI-307, CURI-308, CURI-313, and CURI-321 at the main showing similarly returned geochemically anomalous narrow intervals, and no significant results. Technical staff are continuing their assessment of this interesting target area through prospecting, geological mapping, and 2019 airborne geophysical survey results to further enhance future targeting.
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 NI 43-101. Salazar staff collect and process samples that are securely sealed and shipped to Bureau Veritas ("BV") in Quitofor sample preparation that includes crushing and milling to prepare pulps that are then split for shipment to their facility in Lima, Perufor 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, 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 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, 2018news 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.
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. Drill hole collars referenced in this news release for both infill and Sesmo area exploration drilling are presented in separate Tables at the end of this news release.
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 is a well-financed exploration and project development company, focused primarily in Ecuador. 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 Ecuadoras 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 Irelandtotalling 1,950 km2and, through its ownership interest in Canstar Resources Inc., is actively participating in the exploration upside of a prospective mineral land package in Newfoundlandand Labrador, Canadatotalling 550 km2. Adventus is based in Toronto, Canada, and is listed on the TSX-V under the symbol ADZN and trades on the OTCQX under the symbol ADVZF.