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Adventus Announces Commencement of Drilling on Rathkeale Property and Initial Results of Kingscourt Drill Program Under The South32 Earn-In Agreement in Ireland03.12.2021 | 12:45 Uhr | CNW
TORONTO, Dec. 3, 2021 - Adventus Mining Corp. ("Adventus") (TSXV: ADZN) (OTCQX: ADVZF) is pleased to announce the commencement of exploration scout hole drilling on its Rathkeale block in County Limerick in the Republic of Ireland. The work is being done under the earn-in agreement with a wholly owned subsidiary of South32 Limited ("South32"), which has a right to acquire a 70% interest in the Kingscourt, Rathkeale and Fermoy blocks, which are 100% owned by Adventus through its wholly owned subsidiary, Adventus Zinc Ireland Limited ("AZIL"). These three project areas encompass 1,277 km2 of favourable strata known to host Irish-type zinc-lead-silver systems. South32 is required to fund EUR 3,500,000 in exploration on the three blocks over a four-year period with AZIL acting as operator during the earn-in period (see January 13, 2020, news release). Highlights:
Rathkeale Block Geology
Rathkeale Block Target Refinement To visualize the Rathkeale geological and structural framework, detailed cross-sections using historical drill hole and recent seismic information were constructed and digitized. These cross-sections were then added to a Leapfrog Geo 3D model that was developed for visualization of all target generation initiative ("TGI") datasets. This 3D model allows for enhanced target selection in the 3D environment, notably for drill hole planning. A key component of the Phase 1 scout hole drilling at Rathkeale is the refinement and verification of the current geological and structural interpretation, which will lead to the overall enhancement of target evaluation. The seven Phase 1 scout hole drill targets were selected due to a combination of pre-existing targeting utilising 2017 seismic data, updated structural-stratigraphic targeting, historical mineral occurrences without base of Waulsortian test current geochemical-geophysical targeting. The first drill hole in the program, collared in late November 2021 is drilling on the Killeen target in licence PLA 3368. The Killeen target is in the hanging wall of the GB fault, close to an original 2018 seismic target (Attyflin). This scout hole is aimed at targeting at an area of anomalous LGC (hydrothermal pyrite & barite signature), a conductive feature identified in the ground MT survey in the HW of a key structure on the block and at providing essential geological context. The siting of the hole, 1.5 km from the seismic line ADV17-01 will allow the collection of downhole velocity data which is the next key step in the interpretation of seismic data. Additionally, the hole will act as a test of the use of the MT method as a subsurface interpretation tool in this environment. Kingscourt Drilling Update The pXRF data collected on drill core indicates elevated base metal concentrations in the Micrite Unit that appears to be the most prospective assemblage intersected in 21-3732-01. The pXRF data also indicates a greater degree of hydrothermal alteration in this part of the basin denoted by hydrothermal dolomite signatures (with enrichments in manganese, iron, and magnesium). The profiles of the Pale Beds in 21-3732-01 show a broad pattern of mineralization and alteration, with a galena dominant signature towards the base of the Pale Beds and sphalerite mineralization at a higher elevation. Both weakly mineralized zones are interpreted as fault-controlled mineralization with the lower zone being more sulphide deficient (lead and barium enriched), whereas the higher zone having formed in a more reduced environment leading to low arsenic pyrite, low cadmium sphalerite, more sphalerite formation relative to galena with associated dolomitization. With these two drill holes, only a very small portion of the prospective area from the Kingscourt Fault east along the broad hanging wall of the Ardee Moynalty Fault Zone has been tested. This area is thought to be a compartmentalized basin that has a large area of untested prospective ground yet to be drilled. A key area of interest is the Marvelstown to the Kingscourt Fault area where pXRF data indicates a greater degree of hydrothermal activity. The use of innovate processing of pXRF data to model stratigraphy has confirmed the absence of an approximate 60 m section of the ABL in 21-3609-01, which is observed both in drill core and in chemical profiles. Next Steps Geochemical sampling is ongoing on the Fermoy block with results expected in Q1 2022 for incorporation into the Fermoy TGI with detailed follow up to be carried out ahead of developing targets for drilling in the second half of 2022; however, it should be noted that five new prospecting licenses have now been issued for the Fermoy block totalling 122km2, expanding the coverage over prospective lands with field work commencing in 2022. Technical Information and Quality Control & Quality Assurance ("QAQC") Qualified Person About Adventus About South32 Neither 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 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, 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. Please also visit the Adventus website at www.adventusmining.com and LinkedIn page at https://www.linkedin.com/company/adventus-mining-corporation. Table 1: Drill Collar Information, Rathkeale block
Table 2: Drill Collar Information, Kingscourt block
SOURCE Adventus Mining Corp. Contact please contact Christian Kargl-Simard, President and Chief Executive Officer, at +1-416-230-3440 or christian@adventusmining.com. Dieser Artikel stammt von Rohstoff-Welt.de
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