Minaurum Discovers Three New Veins at Alamos; Samples up to 1495 g/t Silver and 3.8% Copper
TSX VENTURE: MGG
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2018) - Minaurum Gold, Inc., (TSXV: MGG) ("Minaurum") is pleased to announce the discovery of three new veins (Pulpito, Cotera and Ana) that lie within four recently acquired concessions internal to its 100% owned Alamos Silver Project in Mexico. All three veins were found through a district-scale reconnaissance mapping and sampling program triggered by the discovery of wide, high-grade mineralization (8.25 m of 1760 g/t Silver) outside of the historically mined part of the district (See News Release dated January 18, 2018).
The Pulpito vein, located 1 km west of the Minas Nuevas target, has been traced for over 800 m and measures up to 2 m wide; outcrop and dump samples along it ranged from 67 to 1495 g/t Ag and 400 ppm to 3.81% Cu (Table 1, Figure 1). The nearby Cotera vein has been traced for more than 200 m and a topographic linear suggests it extends another 800 m to the north. Sampling along the Cotera vein returned values between 32 and 1370 g/t Ag and 200 ppm to 3.39% Cu (Table 2). The Ana vein is located 750 m east of the Tigre vein and has been mapped for over 2 km (Figure 1); samples results are pending.
"Since Hole 7 confirmed that high-grade silver mineralization is present in virgin veins outside of the historically mined areas at Alamos, we have focused our exploration on discovering and sampling more such veins farther afield in the district," stated Darrell Rader, President and CEO of Minaurum. "We are excited to find three new veins carrying high silver grades in our newly acquired claims and continue to seek others throughout our project. While we wait for permits for an aggressively expanded drill program, we look forward to updating the market with our ongoing exploration results."
PULPITO AND COTERA VEINS
The Pulpito and Cotera veins are primarily hosted on the newly acquired and contiguous Túnel del Agua and Ampliación Túnel del Agua concessions. The concessions cover 32 hectares in the northern part of the project area (Figure 2), about 1 km to the west of the Minas Nuevas vein zone (see News Release dated November 3, 2017). The veins are hosted by andesite, strike NNW (Púlpito) to NNE (Cotera), and dip steeply. Both are vein swarms or vein breccias up to 1-2 m wide that saw limited production from shallow shafts and adits prior to the 1910-1920 Mexican Revolution. The presence of chalcedonic quartz suggests that the vein systems are exposed at high structural levels and that there is significant potential for them to transition into more substantial veins at depth in the manner seen in the Europa-Guadalupe vein (referred to as the Europa-Palomas vein in the News Release dated May 24, 2017).
Table 1. Rock geochemical sampling from Púlpito vein.
|Cu %||Pb %||Zn %|
Table 2. Rock geochemical sampling from Cotera vein.
|Type||Vein||Width (m)||Ag g/t||Au ppb||Cu %||Pb %||Zn %|
Figure 2. Geological map of the Túnel del Agua and Ampliación Túnel del Agua concessions, showing traces of Púlpito and Cotera veins, Alamos Project.
The Ana vein is located on the newly acquired Ana concession. The Ana and El Pilarón concessions cover 435 hectares in the eastern part of Minaurum's claim package (Figures 1 and 3). The Ana vein lies in a fault between limestone on the east side and down-dropped andesite on the west side, indicating displacements similar to those where significant mineralization occurs at depth at the La Quintera, Promontorio, and Europa-Guadalupe veins. Preliminary geochemical sampling of the vein zone has yielded assays up to 24 g/t Ag.
Reconnaissance mapping shows that the El Pilarón concession is underlain by felsic lithic tuff and quartz monzonite. It is the subject of active detailed mapping and sampling.
The Túnel del Agua, Ampliación Túnel del Agua, Ana and El Pilarón concessions were acquired for a total of US$375,000 payable over 30 months. The four concessions total 467 hectares and bring the total size of the Alamos project to 5,165 hectares.
Minaurum Gold Inc. (TSXV: MGG) (OTC: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade Alamos Silver project in southern Sonora State. With a property portfolio encompassing multiple additional district-scale projects, Minaurum is managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue its founders' legacy of creating shareholder value by making district-scale mineral discoveries and executing accretive mining transactions. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu — Investor Relations Manager
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
2300 — 1177 West Hastings Street
Vancouver, BC V6E 2K3
Telephone 778 330-0994
Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National Instrument 43-101, reviewed and verified the assay data, and has approved the disclosure in this News Release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum' s current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Quality Assurance/Quality Control: Preparation and assaying of drilling samples from Minaurum's Alamos project are done with strict adherence to a Quality Assurance/Quality Control (QA/QC) protocol. Core samples are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed courier to ALS Minerals' preparation facility in Hermosillo, Sonora, Mexico. ALS prepares the samples, crushing them to 70% less than 2mm, splitting off 250g, and pulverizing the split to more than 85% passing 75 microns. The resulting sample pulps are prepared in Hermosillo, and then shipped to Vancouver for chemical analysis by ALS Minerals. In Vancouver, the pulps are analyzed for gold by fire assay and ICP/AES on a 50-gram charge. In addition, analyses are done for a 48-element suite using 4-acid digestion and ICP analysis. Samples with silver values greater than 100 g/t; and copper, lead, or zinc values greater than 10,000 ppm (1%) are re-analyzed using 4-acid digestion and atomic absorption spectrometry (AAS).
Quality-control (QC) samples are inserted in the sample stream every 20 samples, and thus represent 5% of the total samples. QC samples include standards, blanks, and duplicate samples. Standards are pulps that have been prepared by a third-party laboratory; they have gold, silver, and base-metal values that are established by an extensive analytical process in which several commercial labs (including ALS Minerals) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than 0.005 ppm gold; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half, and then quartered. The first quarter is the original sample, the second becomes the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.
When final assays are received, QC sample results are inspected for deviation from accepted values. To date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.