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Re: News Releases - Wednesday, October 19, 2011
Minaurum Gold Updates Mexican Exploration
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Minaurum Gold Inc. ("Minaurum") is pleased to provide an update on its
ongoing project exploration activities in Mexico.
A 7062 m 19-hole core-drilling program was completed in late September
at the Aurena gold-skarn Project in southern Oaxaca. Final assays are
pending and will be reported in a forthcoming news release.
Minaurum has received permits for a 1000-meter drill program at its
Capilla epithermal silver vein project in Sinaloa state. Drilling is
expected to begin before the end of October.
The first nine months of 2011 saw significant exploration advances at
most of Minaurum's projects. Helicopter-borne geophysical
(VTEM-magnetic) surveys, geochemical sampling and geological mapping
were conducted at the, Aurena, Vuelcos del Destino (Guerrero Gold Belt
- GGB), Santa Marta, El P�rfido (GGB), Jackie (GGB), and Adelita,
projects.
Interpretation of the geophysical data, combined with the sampling and
mapping results gives immediate exploration priority to Vuelcos del
Destino as several of the strongest geophysical anomalies there
coincide with coherent anomalies in pathfinder elements typical of
nearby Guerrero Gold Belt deposits. Vuelcos del Destino is located in
the south-eastern portion of the prolific 15 million oz Guerrero Gold
Belt, not far from Goldcorp's Los Filos mine, Torex's El Lim�n/Los
Guajes project, and Newstrike's Ana Paula project. (A compilation map
of the Guerrero Gold Belt is found on Minaurum's web site.)
Exploration at Vuelcos del Destino is currently focused on defining
drill targets for a program expected to commence in the first half of
2012.
Reconnaissance stream-sediment sampling and geologic mapping were
recently completed at the Santa Marta (Oaxaca state) volcanogenic
massive sulfide (VMS) target in southern Oaxaca. Santa Marta saw
limited oxide copper production during the 1960's. Samples taken by
Minaurum geologists include continuous chip sampling over 25 meters
averaging 1.1% Cu , with the highest grade of 3.48% Cu; and 7 samples
of quartz-rich material interpreted as a silica cap (exhalative)
grading more than 0.5 g/t Au, with the highest gold value at 1.96 g/t
Au. A sample of hand-sorted copper oxide-rich material yielded 11.65%
Cu. The Santa Marta area has experienced significant metamorphism, and
sulfide mineralization shows evidence of recrystallization as a result.
VTEM-magnetic data are being integrated with geologic and geochemical
data to enhance and expedite drill target identification.
The Corazonada silver/base-metal skarn/porphyry project, located in
Morelos state, shows similarities of both the Guerrero Gold Belt gold
skarns and Esperanza Silver's nearby Cerro Jumil property. OZ Minerals
explored the property during 2008. Their program included an
aeromagnetic survey, geologic mapping, geochemical sampling, and 2,000
m of drilling in eight holes before being terminated during a merger.
Anomalous silver mineralization was encountered in several holes, but
OZ Minerals had not tested the strongest aeromagnetic anomaly revealed
by their surveys by the time of their merger. Minaurum has commenced
permitting a fast-track drill program to test this anomaly and
additional targets on the property.
The Jackie and El P�rfido projects, located in Guerrero and Puebla
States, respectively, are skarn/porphyry prospects with broad
geological similarities to the gold deposits of the Guerrero Gold Belt
mentioned above. Combined magnetic and VTEM surveys have been flown
over both properties with reconnaissance stream-sediment and rock
sampling recently completed at Jackie and to be completed before the
end of the year at El Porfido. More detailed mapping and sampling on
the strongest geophysical and geochemical anomalies is planned as
potential drill target areas emerge.
The Adelita Cu-Mo-Ag-Au porphyry skarn project straddling the
Sonora/Sinaloa state boundary was optioned to Ocean Park Ventures Corp.
in early 2011. Ocean Park budgeted $2.2M for exploration, including a
ground-based induced polarization/resistivity geophysical survey and a
drill program. The IP survey is currently in progress.
Minaurum is an explorer focusing on district-scale gold and silver
projects in Mexico. The Company is currently advancing a portfolio of
projects including the Aurena gold-skarn project.
Qualified Person: Mr. Stephen R Maynard, M.S., C.P.G., has acted as the
qualified person as defined in National Instrument 43-101 for this
disclosure and supervised the preparation of the technical information
in this release.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
1500 - 409 Granville St.
Telephone 778 330-0994
Vancouver, BC V6C 1T2
www.minaurum.com
info@minaurum.com
Qualified Person: Mr Stephen R Maynard, M.S., C.P.G., has acted as the
qualified person as defined in National Instrument 43-101 for this
disclosure and supervised the preparation of the technical information
in this release.
Forward Looking Statement: Some of the statements contained in this
press release are forward-looking statements. Forward-looking
statements are not historical facts and are subject to a number of
risks and uncertainties beyond the Company's control, including, but
not exclusively, statements regarding potential mineralization,
exploration results, completion of work program and studies, and future
plans and objectives of the Company. Resource exploration, development
and operations are highly speculative, characterized by a number of
significant risks, which even a combination of careful evaluation,
experience and knowledge may not eliminate, including, among other
things, unprofitable efforts resulting not only from the failure to
discover mineral resources but from finding mineral deposits which,
though present, are insufficient in quantity and quality to return a
profit from production.
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Copyright (c) 2011 MINAURUM GOLD (All) All rights reserved. For more
information visit our website at http://www.minaurum.com/ or send
mailto:info@minaurum.com
Message sent on Thu Oct 20, 2011 at 7:12:41 AM Pacific Time
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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$ 41.7 millions, € 39.0 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. |