Compelo Energy - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Adventus and Salazar complete airborne geophysical survey of Santiago and Pijili properties

Adventus Zinc and Salazar Resources have completed helicopter-supported, airborne Mobile MagnetoTellurics (MobileMT) regional geophysical survey for its Santiago and Pijili projects in Ecuador.

The Santiago project is a single 2,350-hectare mining concession located in Loja Province, adjacent to a project that is the subject of an option and farm-in Heads of Agreement between Cornerstone Capital Resources Inc. and Newcrest Mining Limited that was announced on February 19, 2019. The Pijili project is comprised of three concessions totaling 3,246-hectares and is located 150 kilometres southeast of the major port city of Guayaquil.

The survey blocks for Santiago and Pijili and projects were flown in a systematic grid pattern to ensure full coverage and depth penetration. A 150-metre line spacing was planned for both projects that resulted in a budgeted total of approximately 1,830-line kilometres. Field crews successfully completed 94.2% of line-kilometres at Santiago and 91.4% line-kilometres at Pijili.

Christian Kargl-Simard, President and CEO of Adventus, commented: “The completion of the airborne geophysical program is a major milestone for our Exploration Alliance with Salazar on these two prospective copper-gold porphyry and epithermal gold-silver projects. Our exploration team continues to generate data on both projects through surficial geochemistry and prospecting that will be interpreted in conjunction with the geophysical results in order to define high priority drill targets for 2019 and beyond.”

Data acquired from the MobileMT system is now being processed for inclusion in a target generation initiative for the Santiago and Pijili projects. Geophysical results from the MobileMT survey will be merged with all available geoscience data to create a priority listing of targets for follow-up in the field. Once validated, the Partners will select their final high priority targets for drilling.

The MobileMT equipment is now being moved to the Curipamba project where a 2,379-line kilometre survey, covering the entirety of the nearly 22,000-hectare land position, is planned. Once the geophysical results have been interpreted and integrated with other exploration survey results, the Partners have budgeted and plan to complete 6,000 metres of exploration drilling at Curipamba later in 2019.

Source: Company Press Release