Altius Minerals Announces Purchase of 2% NSR Royalty on Curipamba Copper-Gold-Zinc Project, Ecuador
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (“Altius”) (TSX: ALS; OTCQX: ATUSF) reports that it has entered into an agreement to acquire a 2% Net Smelter Return Royalty covering the Curipamba copper-gold-zinc project (the “Curipamba Project”) from Resource Capital Fund VI L.P. 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 (“Adventus”) (TSX-V: ADZN; OTCQX: ADVZF), and Salazar Resources Ltd. (TSX-V: SRL). Altius currently holds 21% of the outstanding shares of Adventus.
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% copper, 2.42% zinc, 0.27% lead, 2.34 g/t gold, and 48 g/t silver and Inferred Mineral Resources of 2.6 million tonnes grading 1.29% copper, 1.51% zinc, 0.14% 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.
Lawrence Winter, Ph.D., P.Geo., Vice‐President of Exploration for Altius, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared and approved this release.
Further detailed information regarding the project can be found by visiting www.adventuszinc.com and the most recent National Instrument 43-101 Technical Report relating to the project, dated March 9, 2018, is available at www.sedar.com.
Altius directly and indirectly holds diversified royalties and streams which generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash, and thermal (electrical) and metallurgical coal. The portfolio also includes numerous predevelopment stage royalties covering a wide spectrum of mineral commodities and jurisdictions. Altius also holds a large portfolio of exploration stage projects which it has acquired for future transactions with industry partners that are anticipated to result in royalties and equity and minority interests for Altius. Altius has 42,851,726 common shares issued and outstanding that are listed on The Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.