Highlights
- Curipamba – at the newly identified Agua Santa volcanogenic massive sulphide system (VMS) within the Curipamba district, CREG-011 intersected 3.35 metres of 0.76% copper, 1.39 g/t gold, 4.29% zinc, 12.5 g/t silver, and 0.17% lead – including 1.40 metres of 1.58% copper, 2.67 g/t gold, 31.20% zinc, 55.0 g/t silver, and 1.01% lead
- Drilling on the Agua Santa target completed 11 drill holes totaling 2,818 metres
- Pijili – the Partners are drill ready on a new porphyry target called
El Pato Santiago – target generation ahead of the initial minimum 2,500 m drill program is complete, with drilling planned for Q1 2022. The first hole is expected to twin historical Newmont drill hole FUD-001 that intersected 323.09 metres, grading 0.23% copper and 0.40 g/t gold (seeJune 15, 2020 news release) and deepen to test the MobileMT geophysical anomaly
Curipamba Project Update
Regional drilling on the Agua Santa target (Figure 1) started
CREG-011 was a step-out drill hole, collared from the same drilling platform as CREG-008 (see Figure 2) designed to undercut the massive sulphide mineralization on the same drill section. It intersected faulted, but fragmental looking massive sulphide mineralization from 40.35 to 43.70 metres grading, 0.76% copper, 1.39 g/t gold, 4.29% zinc, 12.5 g/t silver and 0.17% lead (Table 2). The intercept had a copper-rich top from 40.35 to 40.70 metres grading, 4.76% copper, 0.51 g/t gold, 0.91% zinc, 28.0 g/t silver, and 0.03% lead, and a zinc-rich base from 41.62 to 42.30 metres grading, 0.37% copper, 5.67 g/t gold, 19.92% zinc, 39.3 g/t silver and 0.77% lead (Table 2).
Table 2: Drill results for CREG-011
Drill Hole (1) | From (m) | To (m) | Thickness (m) | Cu (%) | Au (g/t) | Zn (%) | Ag (g/t) | Pb (%) |
CREG-011 | 40.35 | 43.70 | 3.35 | 0.76 | 1.39 | 4.29 | 12.5 | 0.17 |
including | 40.35 | 40.70 | 0.35 | 4.76 | 0.51 | 0.91 | 28.0 | 0.03 |
including | 41.62 | 42.30 | 0.68 | 0.37 | 5.67 | 19.92 | 39.3 | 0.77 |
(1) | This is an early-stage exploration project, meaning geological modeling has not determined the orientation of stratigraphy to accurately determine an approximate true thickness for lithologies and mineralization |
An interesting feature of CREG-011 is a wide, low-grade, sulphidized section of the host strata in the hanging wall of the faulted massive sulphide mineralization from 29.75 to 40.35 metres grading, 0.10% copper, 0.68 g/t gold, 0.26% zinc, 2.2 g/t silver, and 0.04% lead. This low-grade intercept suggests the hydrothermal system continued to exhaust mineralized fluids after the deposition of the massive sulphide mineralization. Further review is being undertaken to assess possible vectoring using data from adjacent drill holes.
CREG-009 was a step-out drill hole, collared 82 metres to the north-northeast of CREG-008 (see Figure 3) and although it intersected similar volcanic stratigraphy to CREG-008, it appears to have pierced the favourable VMS horizon hosting the massive sulphide mineralization (see
CREG-010 was a step-out drill hole, collared 47 metres to the southwest of CREG-008 (see Figure 4) and although it intersected similar volcanic stratigraphy to CREG-008 and CREG-009, like CREG-009, it appears to have pierced the favourable VMS horizon hosting the massive sulphide mineralization (see
The Partners continue to wait for analytical results to be completed and released from the laboratory for regional drill holes CREG-012 to CREG-018. It is understood that BV laboratory is experiencing a significant increase in through volume that is resulting in longer than expected delays for its clients to receive geochemical results. These delays are unfortunately hampering assessment and the interpretation of exploration programs including the relationship of any drill hole results to two prospecting showings of bedrock, fault-controlled VMS mineralization at Agua Santa. The laboratory delays are creating a major challenge for consistent exploration news flow. Once data from drilling and surficial geochemical sampling has been returned from the laboratory and passed the Partners' internal QAQC protocols, the results will be disclosed.
Regional drill holes at El Panecillo, east of
Pijili Project Update
During the second half of 2021, exploration activities continued to follow up on target generation results on the Mercy,
On the Rosa de Oro and
Work at the Mercy concession finished in
Table 3: Total sample summary for Pijili project
Concession | Rock | Soil | Stream | Drilling | Lithogeochemistry |
Mercy | 708 | 984 | 14 | 3,544 | 142 |
Maria (artisanal) | 74 | 13 | - | - | - |
360 | 563 | 13 | - | - | |
734 | 525 | 16 | - | - | |
QAQC | 230 | 298 | - | 569 | - |
(1) | All samples compiled in this table were collected between 2017 and present day by the Partner's technical team |
Santiago Project Update
Technical crews have finished prospecting and geological mapping the entire
The principal target area at
This principal target is also coincident with historical drilling by Prospection and Newmont; however, a 3D review indicates that due to the short drill hole lengths of that era, these two historical drilling programs do not provide an explanation for the large MobileMT geophysical anomaly, which suggests that additional, deeper drilling is warranted. The Partners plan on twinning FUD-001 (Newmont drill hole) in Q1 2022, as part of a 2,500-metre drilling program. This program was delayed to accommodate additional community relations and social work with stakeholders that includes but is not limited to the Ecuadorian government and Indigenous leadership. Twinning Newmont's FUD-001 drill hole is critical in not only validating their historical intersection of 323.09 metres, grading 0.23% copper and 0.40 g/t gold, but also examining the deeper MobileMT anomalies (see
Technical Information and QAQC
The three Ecuadorean exploration projects (Curipamba, Pijili, and
Qualified Person
The technical information of this news release has been reviewed and verified as accurate by Mr.
About Adventus
About Salazar
Neither the
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, assumptions 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.
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Table 1: Drill Collar Information (UTM Datum – Provisional South American 1956, Zone 17)
Hole ID | EAST | NORTH | ELEV | AZIMUTH | DIP | DEPTH | COMMENT |
CREG-008 | 691805 | 9851410 | 448 | 270 | -50 | 323.90 | Successfully completed per design |
CREG-009 | 691855 | 9851475 | 445 | 270 | -50 | 258.35 | Successfully completed per design |
CREG-010 | 691778 | 9851372 | 453 | 270 | -50 | 284.90 | Successfully completed per design |
CREG-011 | 691805 | 9851410 | 448 | 270 | -85 | 242.45 | Successfully completed per design |
CREG-012 | 691908 | 9851586 | 460 | 270 | -50 | 284.55 | Successfully completed per design; results pending |
CREG-013 | 691859 | 9851410 | 420 | 270 | -85 | 203.25 | Successfully completed per design; results pending |
CREG-014 | 691700 | 9851397 | 459 | 270 | -50 | 242.40 | Successfully completed per design; results pending |
CREG-015 | 691698 | 9851397 | 459 | 90 | -85 | 208.85 | Successfully completed per design; results pending |
CREG-016 | 691840 | 9851781 | 499 | 270 | -50 | 261.40 | Successfully completed per design; results pending |
CREG-017 | 691765 | 9852359 | 644 | 105 | -70 | 230.00 | Successfully completed per design; results pending |
CREG-018 | 691851 | 9851853 | 509 | 125 | -62 | 278.40 | Successfully completed per design; results pending |
SOURCE
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