Altius Minerals (TSX:ALS) has announced that it has entered into an agreement to acquire a 2 percent net smelter return royalty covering the Curipamba copper-gold-zinc project from Resource Capital Fund VI and RCF VI SRL LLC (collectively, RCF) for US$10 million in cash.

The Curipamba project, located in central Ecuador, is being developed under a 75-25 partnership between Adventus Zinc Corporation (TSXV:ADZN), and Salazar Resources (TSXV:SRL). Altius currently holds 21 percent of the outstanding shares of Adventus.

As quoted in the press release:

The Curipamba project includes the resource stage El Domo deposit, a near-surface, copper and gold rich massive sulphide deposit that has seen more than 50,000 metres of drilling to date, including approximately 18,000 metres in 2018.  On January 31, 2018 Adventus announced the El Domo resource consists of indicated mineral resources of 8.8 million tonnes grading 1.62 percent copper, 2.42 percent zinc, 0.27 percent lead, 2.34 grams per tonne (g/t) gold, and 48 g/t silver and inferred mineral resources of 2.6 million tonnes grading 1.29 percent copper, 1.51 percent zinc, 0.14 percent lead, 1.09 g/t gold, and 29 g/t silver. An updated mineral resource estimate and preliminary economic assessment is currently underway and is expected to be released during the first half of 2019.  The Curipamba project also encompasses more than 22,000 hectares of mineral rights that host several other prospective targets, many of which are expected to be advanced and tested during 2019.

Click here to read the full Altius Minerals (TSX:ALS) press release.