Denarius Metals Announces Updated Mineral Resource Estimate for Its Zancudo Project in Colombia, Upgrading 23% to Indicated Resources; Preparing to Commence Next 15,000 Meters of Drilling at Zancudo

Core Viewpoint - Denarius Metals Corp. has announced an updated Mineral Resource Estimate (MRE) for its Zancudo Project in Colombia, showing a 23% upgrade to indicated resources and plans to commence a new drilling campaign of 15,000 meters [1][3][17]. Summary by Sections Updated Mineral Resource Estimate - The updated MRE indicates 979,000 tonnes of indicated resources grading 6.9 g/t gold and 84 g/t silver, totaling 217,000 ounces of gold and 2.7 million ounces of silver [5][7]. - Inferred resources increased by 13% to 4.6 million tonnes grading 5.6 g/t gold and 84 g/t silver, totaling 832,000 ounces of gold and 12.5 million ounces of silver [5][7]. Drilling Campaign and Future Plans - The company is preparing for a new drilling campaign of 15,000 meters, targeting high-grade structures and aiming to convert inferred resources to indicated resources [4][6][17]. - The drilling will focus on four primary objectives, including surface in-fill drilling at the Brisas target and the El Castaño target, as well as underground drilling at the Independencia Mine [18]. Project Development and Economic Assessment - The Zancudo Project is fully permitted for production, with a new 1,000 tonnes per day flotation processing plant under construction [4][18]. - An updated preliminary economic assessment (PEA) is being prepared, reflecting the positive impact of the 2024 in-fill drilling campaign and current metal prices [3][4]. Geological and Technical Details - The mineralization at the Zancudo Project occurs in stacked mantos and steeply dipping veins, with a known vertical extent of 400 meters [5][7]. - The updated MRE is based on 47,329 meters of diamond drilling across 194 holes, including 7,225 meters from the 2024 drilling campaign [5][7].