Minaurum Fills Hole in Adelita Project by Acquiring Colinas Concession
Minaurum Gold Inc. (the "Company" or "Minaurum") announces that the Company has executed an agreement to acquire a 100% interest in the Colinas concession in Sonora State, Mexico from a private Mexican party by making staged payments totaling US$200,000 over four years. The Colinas concession covers 100 hectares and is almost entirely surrounded by ground already controlled by Minaurum. The acquisition eliminates the last significant inlier in the Adelita land position, which now totals 11,411 hectares.
The Colinas concession is centred on a copper-oxide prospect that is hosted by the same hematite- and sericite-altered Mesozoic metasedimentary rocks that host the 5-km distant Alamo Dorado silver mine owned by PanAmerican Silver. In 2005, Minera Kennecott conducted a brief exploration program on the Colinas concession that included surface rock and soil sampling, geologic mapping, and a 5-hole, 1,270-meter reverse-circulation drilling program. Kennecott's drilling intersected several zones of anomalous values of zinc, molybdenum, and copper.
Mapping and drilling done by the Company in 2010 indicate that a significant Copper-Molybdenum-Gold Porphyry Deposit with associated high-grade skarn is present at Adelita (See Press Release of October 26, 2010). For 2011, the Company plans to extend its existing geologic mapping and geochemical sampling program into Colinas, and fly an airborne geophysical survey for the entire Adelita project, including Colinas. Detailed mapping and sampling of anomalies revealed by the airborne survey will then be undertaken to guide Phase 2 drilling.
Minaurum Gold is a gold and silver explorer focusing on gold-dominant metals deposits in Mexico. The Company is currently advancing a portfolio of projects including the Aurena gold-skarn project. At Aurena, drill permitting is currently underway and a drill program is anticipated to commence in early 2011.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
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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.