DENARIUS METALS ANNOUNCES INITIAL RESULTS FROM ITS 2026 DRILLING CAMPAIGN AT ITS ZANCUDO PROJECT IN COLOMBIA, PROVIDING FURTHER CONFIRMATION OF HIGH-GRADE GOLD AND SILVER MINERALIZATION IN MULTIPLE STRUCTURES AT THE LAS BRISAS TARGET
Rhea-AI Summary
Denarius Metals (OTCQX: DNRSF) reported initial results from its 2026 in-fill drilling at the Las Brisas target within the Zancudo project in Colombia.
Four surface holes (~660 m) confirmed high-grade gold-silver mineralization in the Manto Antiguo and Santa Catalina structures, supporting ongoing resource modelling and mine-planning ahead of a 1,000 tpd plant start-up expected in Q3 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- High-grade intercept of 7.43 g/t Au and 15 g/t Ag over 1.20 m at Santa Catalina (ZM-195)
- High-grade intercept of 8.36 g/t Au and 1,670 g/t Ag over 1.0 m at Manto Antiguo (ZM-197)
- Sub-interval up to 97.38 g/t AuEq over 0.30 m in Manto Antiguo (ZM-197)
- All completed holes on Manto Antiguo and Santa Catalina intercepted targeted structures at estimated depths
- Las Brisas in-fill program plans ~6,000 m in 29 holes to refine ore-shoot geometry
- 2026 Zancudo drill program totals 15,000 m to support resource modelling and mine planning
- New 1,000 tpd flotation plant under construction, expected to start producing concentrates by Q3 2026
Negative
- Drillhole MT-196 returned no intervals above the 4 g/t AuEq cut-off
- Drillhole MT-198 was aborted at shallow depth due to excessive deviation
News Market Reaction – DNRSF
On the day this news was published, DNRSF gained 0.71%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Highlights
- Multiple high gold and silver grade intercepts were intersected in the first in-fill drill holes completed on the Las Brisas Target, providing further confirmation of the high-grade nature of the mineralization previously modelled on the Manto Antiguo and Santa Catalina structures.
- 7.43 g/t Au and 15 g/t Ag over 1.20 m from 93.8-95.0 m, hole ZM-195, Santa Catalina, including 28.70 g/t Au and 38 g/t Ag over 0.30 m from 94.3-94.6 m.
- 8.36 g/t Au and 1,670 g/t Ag over 1.0 m from 160.3-161.3 m, hole ZM-197, Manto Antiguo, including 27.83 g/t Au and 5,564 g/t Ag over 0.30 m from 160.60-160.90 m.
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "This early progress at the Las Brisas Target reinforces our confidence in the continuity and quality of the known ore deposits at Zancudo. The 2026 in-fill drilling program has been designed taking into account the successful results achieved in our 2024 in-fill drilling campaign and underscores the potential and prospectivity of delineating new zones and expanding existing ones near planned mining infrastructures. We look forward to providing further updates through the course of this year's drilling campaign".
Las Brisas Target – Details of the Drilling Results
- The Las Brisas Target represents an unexploited block within the Manto Antiguo structure preserved by past mining. The in-fill drilling program for the Las Brisas Target has been designed at 50x50 meters drill centers from eight platforms (IF-5 to IF-12) aimed at better delineating and confirming the consistency of mineralization on the two ore-shoots outlined by previous drilling on the Manto Antiguo and Santa Catalina structures, of which the Manto Antiguo ore shoot is controlled by the intersection of the Manto Antiguo and Santa Catalina structures and which usually shows wider and higher-grade intercepts.
- The drilling program on the Las Brisas Target commenced in late April 2026 with one drill rig operating from purpose-built surface drill platforms and comprises a total of approximately 6,000 meters of drilling to be carried out in 29 diamond drill holes. The results announced herein have been received from the final assays for the first four drill holes totaling approximately 660 meters carried out from the first purpose-built surface drill platform (IF-7).
- The initial drilling was successful in confirming the high-grade gold and silver mineralization in the ore-shoots outlined by previous drilling on the Manto Antiguo structure. All the drill holes completed to date on Manto Antiguo, totaling approximately 560 meters, have intercepted the structure at the estimated depth with maximum intersection grades of 27.83 g/t Au and 5,564 g/t Ag over 0.30 m from 160.60-160.90 m (ZM-197).
- Initial drilling was also successful in confirming the high-grade gold and silver mineralization in the ore-shoot outlined by previous drilling on the Santa Catalina structure. All the drill holes completed to date on Santa Catalina, totaling approximately 660 meters, have intercepted the structure at the estimated depth with maximum intersection grades of 28.70 g/t Au and 38 g/t Ag over 0.30 m from 94.30-94.60 m (ZM-195).
The following table lists the key sub-intervals from the ongoing Las Brisas in-fill drilling program with grades greater than 4 g/t AuEq cut-off ("Cut-off") associated with main intervals that, in some cases, might not meet the Cut-off:
Year | Target | Hole ID | Structure | From (m) | To (m) | Length (m) | Au (g/t) | Ag (g/t) | AuEq (g/t) | |
2026 | Las Brisas | ZM-195 | Santa Catalina | 93.8 | 95.0 | 1.2 | 7.43 | 15 | 7.58 | |
Including | 94.3 | 94.6 | 0.3 | 28.70 | 38 | 29.18 | ||||
Manto Antiguo | 148.3 | 149.1 | 0.8 | 3.57 | 98 | 4.80 | ||||
Including | 148.7 | 149.1 | 0.5 | 5.33 | 98 | 6.56 | ||||
ZM-197 | Manto Antiguo | 160.3 | 161.3 | 1.0 | 8.36 | 1,670 | 29.24 | |||
Including | 160.6 | 160.9 | 0.3 | 27.83 | 5,564 | 97.38 | ||||
Unknown | 167.4 | 168.2 | 0.8 | 2.93 | 10 | 3.10 | ||||
Including | 167.9 | 168.2 | 0.3 | 7.81 | 26 | 8.10 | ||||
ZM-199 | Santa Catalina | 136.0 | 137.0 | 1.0 | 3.08 | 9 | 3.20 | |||
Including | 136.6 | 137.0 | 0.4 | 6.32 | 24 | 6.32 | ||||
Manto Antiguo | 161.1 | 162.1 | 1.0 | 1.86 | 2 | 1.86 | ||||
Including | 161.4 | 161.8 | 0.4 | 4.61 | 5 | 4.61 |
Notes:
(1) | The intervals are core lengths. The true widths are estimated to be |
(2) | Equivalent gold grades (AuEq g/t) were calculated using prices of |
(3) | "Unknown": new structure that doesn't correlate with any of the known structures/veins. |
(4) | Drillhole MT-196 did not have any results above Cut-off for inclusion in the table. |
(5) | Drillhole MT-198 was aborted at shallow surface due to excessive deviation. |
Please refer also to the attached illustrative images 1 to 4 showing the location of the drill holes reported herein from the 2026 drilling campaign along with 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.
Manto Antiguo and Santa Catalina Structures
The Manto Antiguo structure, which was the main structure mined historically, is interpreted as a WNW-ESE trending brecciated manto structure that merges into the footwall of the Santa Catalina structure. The northerly-trending Santa Catalina structure, which dips steeply to the east near surface and gently at depth, is interpreted as a mineralized master fault structure and feeder of the mineralization for the entire vein system. The Manto Antiguo structure, which is usually narrow, shows a typical breccia texture with incipient quartz-sulphide banding and milled wall rock clasts. The mineralization consists of pyrite, arsenopyrite, sphalerite and galena. Fragments of argillic-altered schist are observed, which host pyrite veinlets.
2026 Drilling Program
The 2026 drill program comprises a planned total of 15,000 meters on several target areas within the Zancudo Project, including Las Brisas, El Castano, Independencia Mine and brownfield. The 2026 drill program has been designed to deliver important data for further resource modelling, mine planning and optimization of production stope design to guide our mine development programs as Denarius Metals ramps up mining activities at Zancudo in 2026 and 2027 to feed the Project's new 1,000 tonnes per day flotation processing plant that is currently under construction and expected to be operating later this year.
Qualified Person
The resource evaluation work was completed by Mr. Scott E. Wilson, CPG, President of Resource Development Associates ("RDA"). Mr. Wilson is an independent consulting geologist specializing in Mineral Reserve and Resource calculation reporting, mining project analysis and due diligence evaluations. Mr. Wilson conducted a personal inspection of the Zancudo Project on June 2-3, 2026. Mr. Wilson has over 36 years of experience in the mining industry and is a Registered Member (#4025107RM) of Society for Mining, Metallurgy and Exploration, Inc. Mr. Wilson and RDA are independent of the Company under NI 43-101.
Mr. Wilson has reviewed, verified and approved the technical information summarized in this news release, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.
Quality Assurance and Quality Control
All the core samples were prepared and assayed for Au by Actlabs Laboratories Ltd (ISO 9001:2015) at their laboratory in Zona Franca Rionegro, Antioquia,
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on 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 is producing gold and silver in an "early production" phase at its
In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a
Additional information on Denarius Metals can be found on its website at www.denariusmetals.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
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, 2026 which is available for view on SEDAR+ at www.sedarplus.ca. 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.
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SOURCE Denarius Metals Corp.