Additional assays are expected in the coming weeks and it is expected there should be a steady flow of new assay data as drill holes are completed going forward. Denarius has mobilized a third diamond drill to expedite the ongoing drilling program on the Lomero-Poyatos deposit, which is expected to be operational in mid-February.
- Initial drill results confirm that the massive and semi-massive sulfide zones at Lomero-Poyatos are significantly enriched in Au.
- Initial drill data increases our confidence in the geological model created using validated data from previous explorers' drilling campaigns.
- Initial data from the ongoing validation drilling phase confirms thickness and grades of selected drill holes from previous drilling campaigns.
The initial surface drilling program at the Lomero-Poyatos Project, which commenced in late October 2021, was designed to validate some selected historical holes drilled within the existing mine and then conduct a 50x50 m infill drilling in the lower levels of the same mine. Extension drilling will consist of 17 holes. The plan will be to initially complete approximately 81 drill holes for a total of approximately 23,500 meters of drilling. Please refer to the news release dated July 26, 2021 for further details. The Company is fully financed to complete the program.
The Company has established COVID-19 safety protocols for ensuring a secure work environment for its employees and contractors.
- The Company has completed approximately 5,650 meters of drilling to-date in 18 holes and two additional holes are in progress.
- The area tested by drilling to-date is 1,000 m along strike and 190 m deep and will continue to expand as the program progresses. All the holes have intercepted mineralization.
- The mineralization is characterized by massive to semi-massive lenses of sphalerite, chalcopyrite, galena, and pyrite, with pyrite the predominant sulphide mineral.
- The mineralization is hosted by a dacite unit, situated at the hanging-wall contact with a volcanoclastic unit. The massive to semi-massive sulphide lenses range from approximately 2 meters thick up to 21 meters (intercept in hole LP21007).
- Sheared volcaniclastic horizons of variable thickness, up to 25 m thick, bearing sulphide mineralization in lenses and disseminated occur at both the hanging-wall and footwall contact with the massive and semi-massive sulphide layers.
- The Lomero-Poyatos deposit shows a classic VMS and Iberian Belt mineralization pattern, built up by massive to semi-massive sulphide layer.
- Initial data from the ongoing validation drilling phase confirms thickness and grades of selected drill holes from previous drilling campaigns as shown by the table below.
- The first infill drill hole (LP21007) was successful in confirming high-grade mineralization at a depth corresponding to the eastern end of Level 5 of the historical mine.
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.
Denarius is a Canadian-listed public company engaged in the acquisition, exploration, development and eventual operation of mining projects in high-grade districts, with its principal focus on the Lomero 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.denariussilver.com and by reviewing its profile on SEDAR at www.sedar.com.
Serafino Iacono, Executive Chairman and CEO
Swiss Resource Capital AG
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 release.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's future operations and business prospects, listing of the Warrants and use of proceeds from the Financing are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.