Denarius Announces Initial Drill Results From the Ongoing Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain, Including 1.51% Cu, 0.40% Pb, 2.27% Zn, 43.83 g/t Ag and 4.71 g/t Au Over 20.60 Meters

Denarius Announces Initial Drill Results From the Ongoing Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain, Including 1.51% Cu, 0.40% Pb, 2.27% Zn, 43.83 g/t Ag and 4.71 g/t Au Over 20.60 Meters

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.

Serafino Iacono, Executive Chairman and CEO of Denarius, commented, "We are very encouraged by these early drilling results at Lomero-Poyatos, which provide a clear indication of the potential of this well-known VMS deposit. These are the first four holes for which we have complete assays, however most drill holes to date have well mineralized intervals that are now in the pipeline for assays. We are systematically stepping out through the deposit to update the geological model that will meet the requirements for establishing an updated NI 43-101 compliant mineral resource estimate. We are confident that this drilling campaign will continue to be a key value driver for Denarius as we move forward."

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.

Key Highlights

  • 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:

Surface Drilling
Hole Phase From (m) To (m) Width Cu % Pb % Zn % Ag g/t Au g/t Min. Type
LP21001 Validation 54.45 60.55 6.10 0.53 0.43 0.59 15.65 1.20 SM*/MS**
L03-15 CMR*** hole 57.00 59.00 2.00 0.47 0.26 0.06 17.50 1.91 SM
LM21002 Validation 189.23 214.00 24.77 0.12 0.46 1.67 13.22 0.72 SM
L12-66 CRI**** hole 190.70 210.15 19.45 0.25 0.60 1.21 6.08 0.66 SM
LM21003 Val/Infill 128.70 133.10 4.40 0.87 0.11 0.12 11.45 0.67 MS
L03-41 CMR 141.00 144.00 3.00 1.20 0.03 0.02 6.00 0.74 SM

* MS: Massive Sulphides
* SM: Semi-Massive

*** CMR: Cambridge Mineral Resources
**** CRI: Corporación de Recursos Iberia

  • 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.

The table below lists the key intercepts from the ongoing Lomero-Poyatos drilling program:

HOLE ID Phase from (m) to (m) length (m) Cu % Pb % Zn % Ag g/t Au g/t Min. Type
LP21001 validation 54.45 60.55 6.10 0.53 0.43 0.59 15.65 1.20
Including 54.45 56.55 2.10 0.17 1.10 1.67 24.57 2.45 SM
Including 56.55 60.55 4.00 0.72 0.07 0.02 10.97 0.55 MS
LP21002 validation 189.23 214.00 24.77 0.12 0.46 1.67 13.22 0.72
Including 196.05 205.05 9.00 0.10 0.96 2.56 13.01 0.94 SM
LP21003 validation 128.70 133.10 4.40 0.87 0.11 0.12 11.45 0.67 MS
LP21007 Infill 192.35 212.95 20.60 1.51 0.40 2.27 43.83 4.71
Including 192.35 195.25 2.90 0.24 0.63 2.25 30.61 1.57 SM
Including 195.25 212.95 17.70 1.53 0.36 2.01 42.63 5.23 MS
  1. The drill holes were drilled at -65 to -85 degrees from the horizontal. Grades are for semi-massive to massive sulphides intersections. The width is the sample length and is not necessarily the true width of the intersection. All base and precious metal grades are uncut and are not diluted to a minimum mining width.

Please refer also to the attached illustrative maps showing the location of drill holes and a cross section with drill hole LP21007.

Location of Drill Holes is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/88fb63a7-a652-4a71-adc0-65336baf0844

Cross Section is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e434d7c-19d9-4367-81ce-3362c8f3cc2d

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.

About Denarius

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 .

Denarius Silver Corp.
Serafino Iacono, Executive Chairman and CEO
Email: investors@Denariussilver.com
Website: www.Denariussilver.com

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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

DSLV:CA
The Conversation (0)
Denarius Signs Option Agreement With Europa Metals to Develop the Toral Zinc-Lead-Silver Project, Leon Province, Northern Spain

Denarius Signs Option Agreement With Europa Metals to Develop the Toral Zinc-Lead-Silver Project, Leon Province, Northern Spain

Denarius Metals Corp. ("Denarius" or "the Company") (TSXV: DSLV; OTCQB: DNRSF) is pleased to announce that it has signed a letter of intent for an option and joint-venture arrangement (the "Letter of Intent") with Europa Metals Ltd. ("Europa") (AIM: EUZ), pursuant to which Europa granted Denarius the right to acquire up to an 80% ownership interest in the Toral Zn-Pb-Ag Project (the "Toral Project"), Leon Province, Northern Spain in two stages (the "Proposed Transaction").

Serafino Iacono, Executive Chairman and CEO of Denarius, commented, " We are extremely pleased to have agreed the commercial parameters for this proposed farm-in transaction subject, inter alia, to definitive documentation which will enable Denarius to lead the development of this high-grade polymetallic project located in a well-mineralized historic mining area and proactive jurisdiction that also offers potential further exploration opportunities. The high-grade concentrates that could be produced at Toral in the future make this a unique opportunity for Denarius to seek to develop a high-quality base metal project in the heart of western Europe."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Denarius Announces an Initial Mineral Resource Estimate for Its Polymetallic Lomero-Poyatos Project in Southern Spain

Denarius 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, 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.

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 mineralization at Lomero and to increase its geological knowledge to a sufficient level to declare this initial Mineral Resource for Lomero. The Company plans further exploration drilling at Lomero as it continues to validate certain historical drilling, which has been excluded from the current estimates, together with further infill and step out drilling around the Mineral Resources presented herein.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Denarius Announces Second Quarter and First Half 2022 Results

Denarius Announces Second Quarter and First Half 2022 Results

Denarius Metals Corp. ("Denarius" or "the Company") (TSXV: DSLV; OTCQB: DNRSF) announced today that it has filed its unaudited interim condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three and six months ended June 30, 2022. These documents can be found on its website at www.Denariusmetals.com and by reviewing its profile on SEDAR at www.sedar.com . All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.

Commenting on the second quarter and first half 2022 results, Serafino Iacono, Chairman and Chief Executive Officer of Denarius, stated "We are very pleased with the results of our initial drilling program at our flagship Lomero Project in Spain which have increased our confidence in the geological understanding of the deposit and will allow for proper 3D modelling in preparation for a Mineral Resource estimate update by the end of the third quarter of 2022. We also expect to complete a scoping study for the Lomero Project by the end of 2022. In Colombia, with the recent termination of IAMGOLD's Option Agreement at our 100%-owned Zancudo Project for reasons unrelated to the project's viability, we now have an opportunity to proceed with an exploration campaign of our own. Our evaluation of the exploration results from the work completed by IAMGOLD over the last five years indicate that the project is a potential polymetallic deposit including gold, silver, zinc and lead. We are currently establishing our project team to carry out our exploration campaign at Zancudo, expected to commence later this year, and we are completing transition activities with IAMGOLD related to the exploration project and ongoing community programs."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Denarius Announces Completion of the In-Fill Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain

Denarius Announces Completion of the In-Fill Drilling Program at Its Polymetallic Lomero-Poyatos Project in Spain

  • Drilling program confirms widths and grades of intersections from previous drilling campaigns.
  • Preliminary results from recently finalized geophysical surveys   confirm the potential to extend the known Lomero-Poyatos deposit down-dip and to find new deposits along strike   in two zones   to the east.

Denarius Metals Corp. ("Denarius" or "the Company") (TSXV: DSLV; OTCQB: DNRSF) announced today that it has received complete assays for thirty-one additional drill holes, mainly in-fill holes, totaling approximately 8,236 meters, from the ongoing surface diamond drilling program on its polymetallic Lomero-Poyatos Project in southern Spain. To date, Denarius has completed approximately 22,543 meters of drilling in 75 drill holes, including twinning of historical drill holes. The validation and in-fill phases, totaling 66 holes and representing 81% of the initial program, are now complete. There are three drill rigs onsite continuing with the resource expansion portion of the initial program. In addition to the diamond drilling, the Company has received preliminary results from the recently completed geophysical surveys that confirm the potential to extend the known Lomero-Poyatos deposit down-dip and to find new deposits along strike to the east in two zones as previously announced based on discoveries made during field mapping.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Denarius Announces First Quarter 2022 Results

Denarius Announces First Quarter 2022 Results

Denarius Metals Corp. ("Denarius" or "the Company") (TSXV: DSLV; OTCQB: DNRSF) announced today that it has filed its unaudited interim condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three months ended March 31, 2022. These documents can be found on its website at www.Denariusmetals.com and by reviewing its profile on SEDAR at www.sedar.com . All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.

Denarius' primary focus in the first quarter of 2022 was the continuation of its 23,500 initial drilling program at its flagship Lomero Project in Spain. The Company spent $2.1 million for exploration and capital expenditures on its projects in the first quarter of 2022, of which approximately $1.7 million related to the Lomero Project and $0.4 million related to its Guia Antigua Project in Colombia. To date, Denarius has completed approximately 19,600 meters of drilling, representing 83% of the current program. The preliminary results have confirmed the massive and semi-massive sulfide zones at the Lomero Project are enriched in copper and significantly in zinc and gold and largely validate the thickness and grades of selected drill holes from previous drilling campaigns.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
First Majestic Announces 2024 Mineral Reserve and Mineral Resource Estimates

First Majestic Announces 2024 Mineral Reserve and Mineral Resource Estimates

Record Mineral Resource Levels and Strong Year-Over-Year Mineral Reserves Growth

First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the 2024 Mineral Reserve and Mineral Resource estimates for its four operating mines in Mexico and its Jerritt Canyon Gold Mine in the United States, with an effective date of December 31, 2024. The Company's four operating mines in Mexico are: the Cerro Los Gatos Silver Mine (following the Company's recent acquisition of Gatos Silver, Inc., the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena SilverGold Mine, the San Dimas SilverGold Mine, and the La Encantada Silver Mine. The Jerritt Canyon Gold Mine is currently in temporary suspension with the Company focused on exploration, definition, and anticipated expansion of the Mineral Resources. Although the Company did not complete the acquisition of Gatos Silver until January 16, 2025, the Company has included the Cerro Los Gatos Mineral Reserves and Resources as of December 31, 2024, for the purposes of this news release and the Company's annual information form for the year ended December 31, 2024 (the "2024 AIF").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Silver bars.

Retail Investors Look to Trigger Silver Squeeze 2.0

Calls for mass purchases of silver on Monday (March 31) are gaining traction online, with proponents hoping to disrupt the dominance of major financial institutions in the precious metals market.

The movement appears to have originated from a March 22 post on X, formerly Twitter, made by user @TheSqueakyMouse, who urged their followers to band together to buy silver.

Keep reading...Show less
Silver bars on pile of $100 bills and green chart going up.

Could the Silver Price Really Hit $100 per Ounce?

Will the First Majestic Silver CEO’s silver price prediction of more than US$100 per ounce come true?

The silver spot price made waves in 2020 when it rose above US$20 per ounce for the first time in four years, and the precious metal has repeatedly tested US$30 per ounce since.

Since September 2024, silver has held above US$30, and on October 22 the silver price reached a 12 year high when it came close to breaking through the US$35 mark. While it fell back by November, the US$30 level has served as a floor.

Keep reading...Show less
David Morgan, silver bars.

David Morgan: Silver Squeeze 2.0 — Will Price Run on March 31?

Will a second iteration of the silver squeeze move the metal's price on Monday (March 31)?

David Morgan, publisher of the Morgan Report, shares his thoughts on what's to come.

Keep reading...Show less
Errawarra Resources

Transformational Acquisition of the High-Grade Elizabeth Hill Silver Project

A 180km2 tenement package located in Western Australia and completion of a $3M Placement

Errawarra Resources Ltd (ASX: ERW) (Errawarra or the Company) is delighted to announce that it has entered binding agreements (refer Acquisition Terms) pursuant to which the Company has acquired 70% of the historical Elizabeth Hill Silver Project (“Project” or “Elizabeth Hill”), 70% of the silver rights to the Pinderi Hills Project tenement package and 70% of the ownership of 3 tenements or tenement applications surrounding the silver project. This collective tenement package totalling 180km2 is in the Tier 1 mining jurisdiction of the Pilbara, Western Australia (Figure 2 – Project Location).

Keep reading...Show less

Latest Press Releases

Related News

×