2 weeks Ago By [email protected] (MENAFN)
Toronto, Ontario--(Newsfile Corp. - April 16, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") provided an update today on the drill results from its surface infill diamond drilling program completed in the second half of 2024 at the Company's second priority target, Las Brisas, at its Zancudo Project in Colombia.
The results announced today have been received from the final assays for 13 drill holes from the Las Brisas Target totaling approximately 2,435 meters bringing the total drilling completed in 2024 at the Zancudo Project to 7,225 meters in 45 drill holes. The 2024 infill drilling program was designed at 50x50 meters drill centers and was aimed at upgrading Inferred Resources to the Indicated Resources category and to support near term mine development. The 2024 drilling program focused on two priority areas, Los Albertos and Las Brisas, which contain most of the existing mineral resources.
The drilling program designed for the first priority target, Los Albertos, commenced in late April 2024 and was completed in late July 2024. Final results from 4,790 meters of drilling completed in 32 drill holes at the Los Albertos Target were announced in a press release on September 10, 2024. The drilling program at the Las Brisas Target was carried out in the second half of 2024 with one drill rig.
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "We are very pleased with the drilling results achieved at the Las Brisas Target, which reinforce that systematic, more tightly spaced, infill drilling has produced very positive results similar to those previously achieved at the Los Albertos Target. In addition, the discovery of a new mineralized manto vein close to the Manto Antiguo vein introduces a new player in the future exploration plan for the Las Brisas Target. These results confirm the results from previous drilling campaigns and have better delineated a high-grade ore shoot, which is still open along strike, within the main Manto Antiguo vein that significantly de-risks the future production at the Zancudo underground operation.
We look forward to completing an updated Mineral Resource estimate incorporating the 2024 drilling program results in the third quarter this year. As previously announced, we have recently commenced mining operations at our Zancudo Project. As we continue to ramp up our production rate at Zancudo, we will support our mine development with an ongoing exploration program aimed at the continued expansion of the high-grade resources at the Zancudo Project.
" Las Brisas Target - Drilling Results Details (see Table below and Figures 1-5 attached) Given the long-term growth opportunity through exploration at the Zancudo Project, the Company is committed to an ongoing investment in drilling and is currently making plans to undertake another drilling campaign in 2025 aimed at upgrading Inferred Resources to the Indicated Resources category within the Las Brisas Target and also outside the two priority targets to accelerate mine development in the near to medium term. The following table shows intersections above a cut-off of 4.0 g/t AuEq for the Las Brisas Target from the 2024 infill drilling campaign.
High grade samples above 10 g/t Au and 100 g/t Ag are listed as sub-intervals: Notes to Las Brisas table: (1) The intervals are core lengths. The true widths are estimated to be 80% to 90% of the lengths. (2) Equivalent gold grades (AuEq g/t) were calculated using prices of US$2,000/oz gold and US$25.
00/oz silver. The gold equivalent formula is: AuEq = Au + (Ag / (Au Price/Ag Price)). (3) "Unknown": new structure that doesn't correlate with any of the known structures/veins (4) There are no results above cut-off grade for 4 holes (ZM-181, ZM-184, ZM-189, ZM-194), so these holes are not listed in the table above.
Please refer also to the attached illustrative images showing the location of the drill holes for the 2024 drilling campaign, a sketch of the main structures for the Las Brisas Target, and long sections showing intercept locations for the Manto Antiguo and Santa Catalina veins. Los Albertos Target - Drilling Results Details Previously Announced on September 10, 2024 As noted earlier in this press release, the Company announced the results on September 10, 2024 from the results received from the final assays for 32 drill holes representing 4,790 meters carried out as part of the 2024 infill drilling campaign at the Los Albertos Target. The following table from that press release shows intersections above a cut-off of 4.
0 g/t AuEq for the Los Albertos Target. High grade samples above 10 g/t Au and 100 g/t Ag are listed as sub-intervals: Notes to Los Albertos table: (1) The intervals are core lengths. The true widths are estimated to be 80% to 90% of the lengths.
(2) Equivalent gold grades (AuEq g/t) were calculated using prices of US$2,000/oz gold and US$25.00/oz silver. Gold equivalent formula: AuEq = Au + (Ag / (Au Price/Ag Price)).
(3) "Unknown": new structure that doesn't correlate with any of the known structures/veins Qualified Person Dr. Stewart D. Redwood, PhD, FIMMM, QMR, 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 including 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 drill samples from the Project were prepared by SGS Labs (ISO 9001:2015) at their laboratory in Medellin, Colombia, and assayed by them at their laboratory in El Callao, Lima, Peru. Gold was assayed by 50 g fire assay with AAS finish.
Samples over 6.0 g/t gold were re-assayed by 50 g fire assay with gravimetric finish. Silver and other elements were analyzed in a multi-element package by aqua regia digestion and ICP-AES finish.
Silver samples above 100 g/t were re-assayed by multi-acid digestion and AAS finish. Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control. About Denarius Metals Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of polymetallic mining projects in high-grade districts in Colombia and Spain.
On March 27, 2025, the Company celebrated the first anniversary of the graduation of its listing to Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF". In Colombia, Denarius Metals recently commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin.
In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in RNR and is the operator of its Aguablanca Project, which has recently been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura.
Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain. Additional information on Denarius Metals can be found on its website at and by reviewing its profile on SEDAR+ at . Cautionary Statement on Forward-Looking Information This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including exploration programs, expected exploration results and mineral resource estimates.
Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at .
Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact: Michael Davies Chief Financial Officer (416) 360-4653 ...
Attachment 1. Zancudo Project Main Targets To view an enhanced version of this graphic, please visit: Attachment 2. 3D Structural Sketch of the Las Brisas Target To view an enhanced version of this graphic, please visit: Attachment 3.
Map showing the location of the drill holes for the Las Brisas 2024 drilling campaign To view an enhanced version of this graphic, please visit: Attachment 4. Long-section showing the ore-shoot on the Manto Antiguo vein To view an enhanced version of this graphic, please visit: Attachment 5. Long-section showing the ore-shoot on the Santa Catalina vein To view an enhanced version of this graphic, please visit: To view the source version of this press release, please visit SOURCE: Denarius Metals Corp.
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