Denarius obtains a drilling permit for its exploration in 2021
TORONTO, August 04, 2021 (GLOBE NEWSWIRE) – (“Denier Silver“or the”Companyâ) (TSXV: DSLV) is pleased to announce that it has received approval from the Department of Mines of Huelva for its exploration program for the Lomero-Poyatos project located in the Iberian pyrite belt in the south of Spain. The Company also announced today that it has begun its 2021 infill drilling and exploration program on its 100% owned Guia Antigua project in Colombia.
Serafino Iacono, Executive Chairman and Interim CEO of Denarius, said: âThe approval of our first diamond drilling campaign on the Lomero-Poyatos project by the Ministry of Mines is a very important step that allows us to start testing existing mineralization which remains open. longitudinally and in depth. The Ministry of Mines has been very helpful in obtaining the authorization of the Lomero-Poyatos project for the drilling phase and we will continue to work closely with them. We are finalizing the preparation of the program and expect to start drilling at Lomero-Poyatos in about two months. “
- The exploration permit for the Lomero-Poyatos project has been granted by the Huelva Ministry of Mines approving the initial drilling program of approximately 23,500 meters.
- The contract for the diamond drilling program at Lomero-Poyatos was awarded to Explomin Perforaciones who mobilized equipment and personnel to the site to immediately begin preparatory work.
- The first phase of drilling in Guia Antigua has started successfully. The Company is drilling 17 infill and exploration holes for a total of 3,460 meters and is currently awaiting assay results from the first two infill holes.
The diamond drilling contract has been awarded to Explomin Perforaciones and staff are already on site to prepare for the start of the drilling campaign. The Company has established COVID-19 security protocols to ensure a safe work environment for its employees and contractors.
The initial drilling program for the Lomero-Poyatos project is designed to validate selected historic holes drilled in the existing mine and then perform a 50 x 50 m infill drilling in the lower levels of the same mine. The plan will initially consist of completing approximately 81 drill holes for a total of approximately 23,500 meters of drilling. The Company is fully funded to carry out the program. Please refer to the press release of July 26, 2021 for more details.
Due to the latest initiatives of the Junta of the Region of Andalusia and the European Union which have sent a strong message regarding the importance of mining in Andalusia and the contribution that the region can make in terms of supply interior in strategic minerals, Denarius is studying how the âNext Generation of the European Unionâ program can be applied to its project. According to this program, the Iberian pyrite belt, which is located mainly in Andalusia and extends west to Portugal, will receive a strategic investment of 3.1 billion euros for mining development and related activities.
Table 1: Summary of historical estimates for the Lomero-Poyatos project
|Year||Company||Data used||To cut
(g / t)
(g / t)
|OP / UG|
|002||SRK||PdH holes (60), UG sampling, CMR holes (9)||50 â¬ / t OP and 70 â¬ / t UG||Variable based on grade S Density = (e (0.95+ (S% / 82.4) mean ~ 4||20.6||3.1||70||1.2||3.3||1.2||37||8||%||92||%||OP + UG|
|CMR holes (55) only||1.5 g / t Au||Variable based on S grade Density = (2.55 + ((S% / 53.4) * 2.5))||3.7||3.3||28||0.9||1.6||1.2||–||100||%||0||%||U G|
|CMR holes (55) only, PdH holes (60), UG sampling||1g / t Au,> 2m thick||Single value 4.5||6.1||4.2||88||–||–||–||–||83||%||17||%||U G|
|CMR holes (55) only, PdH holes (60), UG sampling||1g / t Au||Single value 3.5||20.9||3.1||62||0.9||3.1||0.9||–||0||%||100||%||U G|
To note: Mineral resources are reported in total without a breakdown for the classification used at the time of reporting. SRK cautions the reader that these estimates should not be considered current and should not be relied upon, but have been shown to provide context on the variation in the potential size of the deposit.
Guia Antigua, Colombia
The 2021 infill drilling and exploration program on the Guia Antigua project began in early July with a rig targeting extensions of mineralization surrounding the historic Guia Antigua mine located near Segovia, Antioquia, Colombia and will test some targets concepts described by mapping and field sampling. , soil geochemistry and a UAV magnetic survey.
The Guia Antigua project covers 386 hectares in the easternmost part of a mining title owned by Gran Colombia Gold Corp. in the mining district of Segovia-Remedios. Gran Colombia’s high-grade mines in Segovia have been in continuous operation for over 150 years and have produced approximately 6 million ounces of gold. The Guia Antigua mine is located approximately 5 km east of the Segovia de Gran Colombia operations.
The drilling program includes 17 drill holes totaling 3,460 m. To date, two infill holes have been completed confirming at least two main zones of mineralization. The results of the assay are still pending.
A review of geological and structural data is currently underway in order to better understand the geological control over known historical high grade shoots.
Examination of qualified persons
The scientific and technical information in this press release has been reviewed and approved by Ben Parsons, Senior Consultant (Resource Geology) to SRK Consulting (US) Inc, a “Qualified Person” within the meaning of National Instrument 43-101. .
Denarius is a publicly traded company in Canada engaged in the acquisition, exploration, development and eventual exploitation of mining projects in high grade districts, with a primary 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. under an option agreement for the exploration and potential purchase of an interest in the project.
Additional information about Denarius is available on its website at www.denariussilver.com and by viewing its profile on SEDAR at www.sedar.com.
DENARIUS SILVER CORP.
Serafino Iacono, Executive Chairman and Interim CEO
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Statements included in this announcement, including statements regarding our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “–staring statements â. Cheeky–forward-looking statements may be identified by words such as “anticipates”, “believes”, “intends”, “believes”, “expects” and similar expressions. The Society cautions readers who transmit–forward-looking statements, including, but not limited to, those relating to the operations and future business prospects of the Company, the listing of warrants and the use of the financing proceeds are subject to certain risks and uncertainties which could cause actual results to differ materially from those shown in–staring statements.