Minaurum Discovers Extension of Historic Promontorio-Quintera Vein
TSX VENTURE: MGG
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2018) - Minaurum Gold Inc. (TSXV: MGG) (OTC: MMRGF) ("Minaurum") is pleased to announce that it has discovered extensions of the historic Promontorio-Quintera Vein and the Nueva Europa Vein at the Alamos Silver Project in Sonora, Mexico. The Promontorio-Quintera extension, named "Promontorio Sur," extends for 1 km and is cut-off and down-dropped by a northwest-trending fault from the historic vein that produced in excess of 120M oz silver. The Nueva Europa extension, known as "Nueva Europa Sur," was mapped for over 600m. The Nueva Europa vein was drilled 1.5 km north of the extension in Hole AL17-007, which intersected 1.2 m of 541 g/t Ag and 0.28% Cu (see Minaurum News Release dated January 18, 2018).
"We are excited to have discovered what appears to be the southern extension of the historic Promontorio-Quintera vein. This significant vein is abruptly cut-off by a fault while still in high-grade mineralization. The extension has the potential to host virgin mineralization at depth and at grades similar to those that were historically mined," stated Darrell Rader, President and CEO of Minaurum.
PROMONTORIO SUR VEIN
Mapping has indicated that the southern end of the Promontorio-Quintera vein is cut off by a NW-trending fault that separated the 1 km long Promontorio Sur from the historic vein, as well as dropping it down on the SW side of the fault. The N-NE-striking, steeply NW-dipping Promontorio Sur cuts andesitic agglomerate and consists of quartz/carbonate/barite veins and breccia-fill up to 1.5 m wide. No significant workings occur on the vein extension and the highest assay from surface sampling returned 181 g/t Ag and 1.06% Cu over 1.1m.
NUEVA EUROPA SUR VEIN
The NE-striking, steeply E-dipping Nueva Europa vein was extended to the southwest another 600 m by recent mapping and sampling (Table 1; Figures 1, 2 and 3). With the new extension, the entire Nueva Europa vein measures 2 km in length. A 0.8 m long chip sample on the Nueva Europa Sur vein zone assayed 52 g/t Ag and 0.54% Cu, and a sample from a prospect dump ran 91 g/t Ag and 1.00% Cu (Table 1; Figures 1, 2, and 3). For comparison purposes, Hole AL17-007, which intersected 1.2 m of 541 g/t Ag and 0.28% Cu, was drilled approximately 150 m down-dip from surface samples assaying from 6 to 93 g/t Ag and from 0.02 to 0.12% Cu.
Figure 2: Geological map of the Promontorio Sur and Nueva Europa Sur vein zones, showing silver values in rock samples, Alamos Project. Note U (up) and D (down) symbols indicating relative displacement of fault blocks.
Figure 3: Geological map of the Promontorio Sur and Nueva Europa Sur vein zones, showing copper values in rock samples, Alamos Project. Note U (up) and D (down) symbols indicating relative displacement of fault blocks.
Table 1. Rock geochemical sampling, Promontorio Sur and Nueva Europa Sur (NES) vein zones.
|Type||Vein||Width (m)||Ag g/t||Au ppb||Cu %||Pb %||Zn %|
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
Telephone 778 330-0994
Vancouver, BC V6E 2K3
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.