Business
Denarius Metals Announces an Initial Mineral Resource Estimate for Its Polymetallic Lomero-Poyatos Project in Southern Spain
The initial Inferred Mineral Resource comprises 10.66 Mt at 0.45% Cu, 1.02% Zn, 0.41% Pb, 21 g/t Ag and 2.0 g/t Au (1.59% CuEq) containing an estimated 48 kt Cu
About this update from Denarius Metals Corp.
[{"type":"text","content":" The initial Inferred Mineral Resource comprises 10.66 Mt at 0.45% Cu, 1.02% Zn, 0.41% Pb, 21 g/t Ag and 2.0 g/t Au (1.59% CuEq) containing an estimated 48 kt Cu, 109 kt Zn, 44 kt Pb, 7.4 Moz Ag, 0.7 Moz Au. Based on the results from approximately 26,000 m completed in 83 diamond drill holes in the Phase 1 surface drilling program completed in July 2022, the initial Mineral Resource estimate provides a solid foundation for further mineral resource expansion in Denarius’ forthcoming Phase 2 program. The initial Mineral Resource estimate assumes both open pit and underground mining and extends from surface to a depth of 350 meters. Completing a directional drilling program to validate a high-grade dataset relative to this MRE associated with a historical drilling campaign of horizontal underground holes that is not yet included in the above initial Mineral Resource estimate. Drilling to date has identified mineralization over a strike of over 1 km and with a vertical extension of 400 meters. This initial MRE confirms the significant high gold grade potential of this project within the Iberian Pyrite Belt, as it remains open for further expansion down-dip and to the east. Continued potential for further resource expansion, with compelling targets already identified via recent detailed helicopter-borne time-domain electromagnetic (“TDEM” or “TEM”) and ground-based gravimetric surveys. TORONTO, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Denarius Metals Corp. (“Denarius” or “the Company”) (TSXV: DSLV; OTCQB: DNRSF) announced today an initial Mineral Resource estimate (“MRE”), prepared in accordance with CIM guidelines and disclosure requirements of NI 43-101, on its 100% owned Lomero-Poyatos Project (“Lomero”) in southern Spain. Lomero is a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt (“IPB”), one of the largest districts of pyrite-rich massive sulfide deposits in the world. The initial MRE has been prepared at the conclusion of the Phase 1 surface drilling program carried out by the Company between October 2021 and July 2022. The initial MRE reflects the early-stage results from this validation and infill drilling program coupled with resource expansion drilling below the historical drilling. This program has enabled the Company to confirm the presence of the expected polymetallic mineraliz...