Minaurum Expands Alamos to 16,134 Hectares; Discovers Three New Veins
TSX VENTURE: MGG
Vancouver, British Columbia--(Newsfile Corp. - August 28, 2018) - Minaurum Gold Inc. (TSXV: MGG), ("Minaurum") is pleased to announce that it has acquired the 10,159-ha La Quintera 3 claim and the 400-ha Yoreme claim, expanding its Alamos Silver Project in Mexico to 16,134-has. Initial mapping and sampling has revealed three vein systems on the Yoreme claim measuring between 900 m to 1800 m long. Vein sampling has returned grades ranging from anomalous up to 250 g/t Ag, 1.29% Cu, 4.74% Pb, and 1.99% Zn.
"With the newly found Yoreme veins, we have outlined a vein swarm of 12 prominent and separate veins within an overall corridor measuring 10 km long and 2.7 km wide at Alamos," stated Darrell Rader, President and CEO of Minaurum. "The new claims not only triple the size of our holdings but also ensure that we control the strike of all known veins, greatly expanding the impressive untested exploration potential at Alamos."
Three principal northeast-striking, steeply northwest-dipping veins crop out in the Yoreme concession. Taken together, the veins have a combined strike length of more than 4.3 km. Surface rock sample assay values for silver, zinc and lead are shown in Figures 1-3 and listed in Table 1.
San Manuel Vein
The San Manuel vein averages 1 m wide on surface and has been traced for 1.1 km. Old workings on it include two shallow shafts and a bulldozer cut. Two 1-meter chip samples at San Manuel returned 250 g/t Ag and 99 g/t Ag.
El Crestón Vein
The 1.8 km-long El Crestón vein is cut by several NW-trending left-lateral faults with offsets of 10-20 metres. There is a small historic shaft on the vein where a dump sample assayed 19.8 g/t Ag and 1.52% Pb. A 2.0-m chip sample of the vein assayed 50.5 g/t Ag, 4.74% Pb, and 1.47% Zn.
The 900 m-long Carrera vein measures up to 2 m in outcrop width and is only lightly prospected. Limited exploration on the vein returned a 0.3-m chip sample grading 14.7 g/t Ag and 1.78% Pb. Chip samples up to 2.0 m in length assayed between 0.10% and 1.29% Cu.
Table 1. Rock geochemical sampling, San Manuel, El Creston and Carrera vein zones.
|Vein zone||Type||Width (m)||Lithology||Ag g/t||Au ppb||Cu %||Pb %||Zn %|
|San Manuel||Dump||Porphyry w/ quartz veinlets||21.1||129||0.02||0.38||1.17|
|San Manuel||Chip||1.0||Fault zone||250.0||0.5||0.02||0.12||0.19|
|El Creston||Chip||0.5||Vein breccia||13.0||97||0.22||1.08||0.49|
|El Creston||Chip||2.0||Vein breccia||6.6||347||0.22||0.26||1.99|
|El Creston||Chip||1.5||Volcanic breccia||14.3||15||0.02||0.23||0.51|
|El Creston||Chip||0.6||Volcanic breccia||6.7||287||0.13||0.35||0.97|
|El Creston||Chip||1.0||Fault zone||19.9||56||0.08||1.20||0.21|
LA QUINTERA 3 CONCESSION
The 10,159-hectare La Quintera 3 concession lies to the south and southeast of the original Alamos project area. A reconnaissance mapping and sampling program is planned for the concession starting in the Fall of 2018.
CLAIM ACQUISITION COSTS
The 400-hectare Yoreme concession was acquired for a one-time payment of CDN$28,000. The concession title was issued in 2010 and is valid for 50 years. The La Quintera 3 concession was acquired through staking.
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.