| Minaurum Receives Community Approval to Drill Vuelcos del Destino in Guerrero Gold Belt | |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 24, 2015) - Minaurum Gold Inc. ("Minaurum") (TSX VENTURE:MGG) is pleased to announce that it has entered into a formal access agreement with the community of Huitziltepec at its Vuelcos del Destino Project that allows Minaurum to acquire federal drill permits. The project consists of a single mining concession that covers 8,831 hectares in the southeastern portion of the Guerrero Gold Belt ("GGB") in Guerrero state in southern Mexico. Geological features at Vuelcos del Destino are similar to those of Goldcorp's nearby Los Filos Mine, the principle exploration target being a 12 km square porphyry stock complex which represents the largest undrilled intrusive complex in the GGB. This exploration target was identified by Minaurum's Senior Geologist and Director David Jones, the discoverer of the Los Filos deposit and a principle involved with Teck's acquisition of what is now Torex Gold's Morelos Project. "When Minaurum entered the Guerrero Gold Belt through the 2010 option of the Vuelcos Del Destino project, the belt hosted approximately 10 million ounces of Gold and we were the only significant claim holder to the southeast of Los Filos. Today the belt hosts over 31 million ounces of gold and GGB style mineralization has been found in drilling to both the NW and SE of our project," stated Darrell Rader, President and CEO of Minaurum. "With community access in place we expect to start a first-phase drill program at Vuelcos during the second quarter employing a drill program designed by David Jones who has a successful track record of discoveries in the GGB." The Huitziltepec community lands covered by the agreement encompass three targets that coincide with a 3 x 4 km granodiorite porphyry stock complex that is typical of Guerrero Gold Belt intrusions. Alteration and structural features within the stock are identical in nature to those seen in the Los Filos deposit. Stream-sediment geochemical anomalies coincide with the stock outline and with geophysical targets delineated an airborne survey. Target identification is based on the results of reconnaissance geological mapping, stream-sediment sampling and a property-wide airborne Variable Time-Domain Electromagnetic (VTEM) and magnetic survey. Minaurum expects to receive permits for a planned minimum 7,500m drill program from the Mexican federal environmental authority (SEMARNAT) early in the second quarter of 2015. Minaurum Gold is a gold-copper explorer focused on its Vuelcos del Destino project in the Guerrero Gold Belt, Mexico. For more information, please visit our website atwww.minaurum.com and our YouTube Minaurum Video Channel at (http://www.youtube.com/user/minaurumgold). |
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Minaurum Gold
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EXPLORATION STAGE |
CODE : MGG.V |
ISIN : CA60252Q1019 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Minaurum Gold is a gold and silver exploration company based in Canada. Its main exploration properties are ADELITA, AURENA, VUELCOS DEL DISTINO and SANTA MARTA in Mexico. Minaurum Gold is listed in Canada. Its market capitalisation is CA$ 57.0 millions as of today (US$ 41.6 millions, € 38.9 millions). Its stock quote reached its highest recent level on March 12, 2010 at CA$ 0.95, and its lowest recent point on December 27, 2013 at CA$ 0.03. Minaurum Gold has 237 482 662 shares outstanding. |