Minaurum Gold Updates Mexican Exploration
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 Pórfido (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 Limón/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 Pórfido 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.
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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.