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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Denarius Metals Corp | TSXV:DSLV | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.58 | 0.57 | 0.67 | 0 | 01:00:00 |
Key takeaways from the exploration work carried out at the Lomero-Poyatos Project to-date include:
Serafino Iacono, Executive Chairman and CEO of Denarius, commented, “These additional drilling results and the initial geological mapping at the Lomero-Poyatos Project are very encouraging. Our drilling to-date has tested an area within this well-known VMS deposit that is over 1,000 m along strike and 190 m deep. All the holes drilled to-date have intercepted massive sulphide mineralization. We are moving forward with a third rig to accelerate the ongoing drilling program in order to prepare an updated NI 43-101 compliant mineral resource estimate and scoping study by the third quarter of this year. We are confident that our exploration campaign at the Lomero-Poyatos Project will continue to be a key value driver for Denarius as we move forward".
This is the Company’s first diamond drill campaign at its flagship project in Andalucia Region, Southern Spain, located within the Iberian Pyrite Belt. The Lomero-Poyatos Project comprises a 100% interest in the P.I. Rubia, License Nº 14.977, covering the areas occupied by the former Lomero-Poyatos Concessions. The initial surface drilling program at the Lomero-Poyatos Project, which commenced in late October 2021, is designed with three objectives: (i) to validate selected historical holes drilled within the existing mine, (ii) to carry out infill drilling on a 50 m by 50 m spacing in the lower levels of the mine, and (iii) extension drilling consisting of 17 holes. The planned total in this initial program is to complete approximately 81 drill holes for a total of approximately 23,500 meters of drilling. The Company is fully financed to complete the ongoing program and drill up to a further 40,000 meters. A third diamond drill rig has arrived on site to expedite the ongoing drilling program on the Lomero-Poyatos deposit and is expected to be operational by the end of February.
The Company has established COVID-19 safety protocols for ensuring a secure work environment for its employees and contractors.
Key Highlights
The following table lists the key intercepts from the ongoing Lomero-Poyatos drilling program since the Company’s previous press release issued on January 18, 2022:
HOLE ID | Phase | from (m) | to (m) | length (m) | Cu % | Pb % | Zn % | Ag g/t | Au g/t | Min. Type |
LM21009 | Infill | 214.55 | 221.40 | 6.85 | 2.51 | 0.65 | 3.28 | 49.99 | 6.07 | MS |
LM21013 | Infill | 285.15 | 286.00 | 0.85 | 0.78 | 0.22 | 0.57 | 70.40 | 5.73 | MS |
and | 288.95 | 292.00 | 3.05 | 0.06 | 0.35 | 2.20 | 1.68 | 0.32 | STW | |
LM21014 | Infill | 233.45 | 239.90 | 6.45 | 1.58 | 0.16 | 0.18 | 15.74 | 2.10 | MS |
including | 233.45 | 236.65 | 3.20 | 2.88 | 0.14 | 0.08 | 24.96 | 3.14 | MS | |
LM21015 | Infill | 248.90 | 253.30 | 4.40 | 0.40 | 0.80 | 1.93 | 45.19 | 3.39 | MS |
including | 248.90 | 250.90 | 2.00 | 0.60 | 1.57 | 3.53 | 70.25 | 4.90 | MS | |
and | 259.45 | 268.05 | 8.60 | 0.31 | 0.01 | 0.03 | <5.00 | 0.17 | STW | |
and | 269.00 | 272.55 | 3.56 | 0.25 | 0.11 | 0.30 | 7.19 | 0.45 | MS |
Notes: The holes were drilled at -65 to -85 degrees from the horizontal. Grades are for semi-massive to massive sulphide intersections and some stockwork zones. The width is the sample length and is not necessarily the true width of the intersection. All base and precious metal grades are uncut and are not diluted to a minimum mining width. MS, massive sulphides; STW, stockwork.
Please refer also to the attached illustrative maps showing the location of drill holes and two sections with drill holes LM21009 and LM21014 and drill holes LM21013 and LM21015, respectively.
Qualified Persons Review
Dr. Stewart D. Redwood, PhD, FIMMM, FGS, Senior Consulting Geologist to the Company, is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and prepared or reviewed the preparation of the scientific and technical information in this press release. Verification included a review of the quality assurance and quality control samples, and review of the applicable assay databases and assay certificates.
Quality Assurance and Quality Control
The Lomero-Poyatos samples were prepared and assayed by AGQ Labs (ISO/IEC 17025) at their laboratory in Burguillos, Seville, Spain. Gold was assayed by 30 g fire assay with ICP-OES finish, while silver and base metals were analyzed in a multi-element package by aqua regia digestion and ICP-OES finish. Blank, standard and duplicate samples were routinely inserted and monitored for quality assurance and quality control.
About Denarius
Denarius is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of mining projects in high-grade districts, with its principal focus on the Lomero-Poyatos Project in Spain and the Guia Antigua Project in Colombia. The Company also owns the Zancudo Project in Colombia which is currently being explored by IAMGOLD Corp. pursuant to an option agreement for the exploration and potential purchase of an interest in the project.
Additional information on Denarius can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking InformationNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including exploration programs, expected exploration results and mineral resource estimates. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Filing Statement dated as of February 18, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Denarius disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Christopher HaldaneVice President, Investor Relations(416) 360-4653investors@denariusmetals.com
Attachment 1: Location of Drill Holes is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f1297a8b-7e5c-4e39-b91e-6c16adae60ad
Attachment 2: Cross-section LM21013 and LM21015 Au grades is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a7e249c0-3965-4c9d-bc5c-fa39e8f6100d
Attachment 3: Cross-section LM21009 Au grades is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/31d4031c-05f4-49cc-8d1d-2b3a686ecda7
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