Denarius Metals Corp. (TSXV: DSLV) has released an initial Mineral Resource estimate (MRE) on its 100% owned Lomero-Poyatos Project 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 sulphide deposits in the world.
The initial MRE has been prepared at the conclusion of the Phase 1 surface drilling programme 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 programme coupled with resource expansion drilling below the historical drilling. This programme has enabled the company to confirm the presence of the expected polymetallic mineralisation 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.
The company’s initial MRE for Lomero has determined that Lomero is amendable to open pit and underground options or a combination of both. The initial MRE has been reported based on cut-off grades of 0.4% Copper Equivalent (CuEq) for open pit resources and 0.6% CuEq for underground resources, which comprises:
- an open pit Inferred Mineral Resource of approximately 6.2Mt of material at average grades of 2.3 g/t Au, 22 g/t Ag, 0.60% Cu, 0.44% Pb and 1.02% Zn, which when considered as CuEq, results in 112,700 tonnes of CuEq metal averaging 1.82% CuEq; and,
- an underground Inferred Mineral Resource of approximately 4.5Mt of material at average grades of 1.7 g/t Au, 20 g/t Ag, 0.24% Cu, 0.37% Pb and 1.03% Zn resulting in 56,600 tonnes of CuEq metal averaging 1.27% CuEq.
“Lomero has a historic Inferred Mineral Resource of 20.93 Mt at 0.9% Cu, 0.85% Pb, 3.05% Zn, 62.38 g/t Ag and 3.08 g/t Au,” Executive Chairman and CEO, Serafino Iacono, said.
“Our recently completed Phase 1 drilling programme has resulted in an initial MRE for Lomero, a measuring stick of our exploration success and progress to date and gives us confidence in the potential for expansion in the size of the deposit, as evidenced by the historic MRE, through further validation drilling.
“Ultimately, we are focused on the goal of advancing the project towards an economic study after we complete Phase 2 of our exploration work which will commence in October 2022.
“This initial MRE confirms the significant high gold grade potential of this project as it remains open for further expansion down-dip and along its 1.5-kilometre-long extension to the east.
“We strongly believe that additional drilling along strike and at depth will continue to expand the initial MRE, as all the surface drilling so far has been very successful. We are confident that our exploration campaign at Lomero will continue to be a key value driver for Denarius as we move forward.”
For further information please visit: https://www.denariussilver.com
