Highlights
- To date, 1,744 metres over three drill holes as part of 2020 maiden drilling program at Pijili;
- Addition of a second diamond drill rig in early August;
- Initial holes have encountered varying intensities of porphyry style alteration assemblages, hydrothermal brecciation, and variable amounts of sulphide mineralization (chalcopyrite, ± bornite, ± molybdenite; and ± pyrite), and;
- The first drill core assays are expected to be available in October.
The Partners are the first explorers to drill this new porphyry copper-gold-molybdenum system identified at the Pijili project's Mercy concession, in southwestern
The first drill hole, MERC-001, was recently completed and it was collared to examine the mapped hydrothermal breccia units located approximately 300 metres to the north of artisanal mine workings. MERC-001 intersected numerous breccia units at the top of the drill hole (1.40 to 19.85 metres; 34.40 to 40.2 metres; 65.75 to 67.25 metres; and 112.20 to 131.25 metres) within a variably altered quartz diorite intrusion over its 915-metre length. The breccia units at the top of the drill hole were predominantly biotite and chlorite altered and contained visible sulphide mineralization (chalcopyrite, pyrite, ± bornite, and ± molybdenite). The determination of orientation and potential structural control of the hydrothermal breccia units will require additional drilling at this early stage.
The second drill hole, MERC-002, is currently in progress. It is collared 685 metres to the northwest of MERC-001 and the drill hole was designed to evaluate an area of hydrothermal breccia mapped on surface associated with the Zambohuaycu showing. Channel sampling results from this showing returned the following highlighted results (see
- Channel sample ZAMB-CN03 – 42.0 metres grading 0.44% copper, 0.14 g/t gold, and 0.012% molybdenum, including 10.0 metres grading 0.77% copper, 0.32 g/t gold, and 0.020% molybdenum
- Chip sample ZAMB-CP01 – 26.7 metres grading 0.30% copper, 0.47 g/t gold, and 0.010% molybdenum
- Chip sample ZAMB-CP04 – 5.6 metres grading 0.69% copper, 0.22 g/t gold, and 0.001% molybdenum
MERC-002 successfully intersected mineralized hydrothermal breccia in two intervals from 14.00 metres to 110.70 metres and 113.95 metres to 149.10 metres. These two intervals contain variable concentrations of sulphide mineralization (chalcopyrite, bornite, molybdenite) and display both biotite and chlorite alteration.
Below the hydrothermal breccia intervals in MERC-002, weaker intensity sulphide mineralization continues to be noted in both feldspar phyric and hornblende phyric diorite intrusive phases to the current depth of approximately 559 metres. Technical crews continue to sample MERC-002 as drilling continues. A follow-up drill hole is being planned to further evaluate the orientation and potential structural control of the mineralized hydrothermal breccia.
The third drill hole, MERC-003, is currently in progress and it is collared 167 metres to the east-northeast of MERC-002. This drill hole was designed to evaluate the porphyry-style veining mapped on surface and to determine if hydrothermal breccia units mapped at the Zambohuaycu showing extend to the northeast. Drilling has verified the presence of porphyry-style veining with variable sulphide mineralization (chalcopyrite ± pyrite) to its current depth of approximately 270 metres, hosted in predominantly hornblende phyric intrusion. No hydrothermal breccia has been intersected in MERC-003 to date.
Table 1: Drill Collar Information
Hole ID | EAST | NORTH | ELEV (m) | AZIMUTH | DIP | PLANNED DEPTH (m) | EOH (m) |
MERC-001 | 678454 | 9670625 | 3236 | 225 | -80 | 900 | 915.0 |
MERC-002 | 677819 | 9670884 | 2826 | 330 | -70 | 600 | In progress |
MERC-003(2) | 677977 | 9670939 | 2952 | 180 | -50 | 500 | In progress |
MERC-004(3) | 677819 | 9670884 | 2826 | 330 | -85 | 600 | N/A |
Notes: | |
(1) | UTM Datum (Provisional South American 1956, Zone 17) |
(2) | The drill collar locations for MERC-001 MERC-002, and MERC-003 are taken with handheld GPS units in the field |
(3) | The planned drill collar location for MERC-004 is off the same platform of MERC-002 with only the inclination (dip) being modified |
A manual trenching program at Pijili has recommenced to support the drilling program and to evaluate possible extensions to channel and chip sampling presented in the
Assay results from drill core samples will be released after they are received from the laboratory and passed internal quality control and quality assurance (QAQC) protocols. The first batch of drill core results are expected to be available in October. Similarly, the manual trenching geochemistry results for both chip and channel samples will be available later in the year.
Qualified Persons, Technical Information, and QAQC Protocols
The Pijili project work program is being managed and reviewed by Vice President of Exploration for Adventus,
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.
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 have 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 materially 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.
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