Minaurum Commences Drill Program at Alamos Silver Project
TSX VENTURE: MGG
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2018) - Minaurum Gold, Inc., (TSXV: MGG) ("Minaurum") is pleased to announce that it has resumed drilling at the Alamos Silver project in Sonora, Mexico. The minimum 5,000-m drill program will focus primarily on seven untested vein targets exposed at high structural levels in down-dropped blocks outside of the historic mining corridor. These holes are also aimed to cut blind veins that may be present between the surface-exposed veins. The program follows on 2017's eight-hole, 2770-m drill campaign, which resulted in the intersection of 8.25 m averaging 1,760 g/t (57 opt) silver, 1.6% copper, 1.5% lead and 2.6% zinc in the Europa-Guadalupe vein (see Minaurum News Release dated January 18, 2018).
"We are excited to follow up on last year's highly successful vein intersection by testing a number of similar high-level veins that we have mapped in, and on the margins of, down-dropped blocks outside of the historic mining corridor," stated Darrell Rader, President and CEO of Minaurum. "We'll focus on these new veins to determine the footprint of the overall Alamos District, which appears to be much larger than previously thought, and could well hold more veins of the width and grade mined historically. Our approach is to find and prioritize an inventory of veins before drilling them off."
The 2017 holes were collared in the area of historical production, near the Minas Nuevas, La Quintera, and Promontorio mines (Figure 1). Hole AL17-007 tested an area away from historical mining and presented the major success of 2017, intersecting 8.25 m averaging 1,760 g/t (57 opt) silver, 1.6% copper, 1.5% lead and 2.6% zinc in the Europa-Guadalupe vein, more than 300 m down-dip from its surface exposures. In addition, hole AL17-007 intersected several zones of veining with no known surface expression ("blind" veins) in a down-thrown ("piano-key") block.
The new program will continue the approach of drilling targets away from the historical production corridor by first testing the northern portion of the project area. One hole will test the Minas Nuevas vein at depth and a second hole will test the Púlpito and Cotera vein zone projections. Eight more holes are planned on targets on the completely virgin eastern side of the historic La Quintera - Promontorio vein zone, including the Tigre, Ana, and Amalia vein zones, and the breccia body located south of Amalia and Tigre; as well as the Promontorio Sur vein zone to the south of Promontorio vein. The drill program will be expanded as new targets are generated.
Figure 1. Major known vein zones to be drill-tested in 2018, and 2017 drill collars and surface projections, Alamos project. Note that 2017 drilling was concentrated in two relatively small areas close to the corridor of historical production. Hole AL17-007 drilled away from the historical mining zone and intersected the Europa-Guadalupe vein: 8.25 m vein grading 1,760 g/t Ag. 2018 drilling will focus on out-lying newly mapped and sampled high-level vein zones with no significant historical production. UP and DOWN refer to up-thrown and down-thrown fault blocks, respectively; STEP denotes blocks that are intermediate between up and down.
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
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2300 — 1177 West Hastings Street
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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 2 mm, splitting off 250 g, 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.