Minaurum Gold Inc. (“Minaurum”) is pleased to announce the results of initial rock sampling and the commencement of an exploration program at its La Quintera Silver Project.
Historical exploration work on the project included taking 334 rock samples of which 97 assayed 100-1,380 grams per tonne (“g/t”) Silver (“Ag”) and 106 returned values 30 – 100 g/t Ag. Minaurum’s initial sampling confirmed the prior range of high-grade assay results along with the addition of significant base metal grades. Highlights include: 1.0 metre of 1,020 g/t silver, 1.11% copper, and 0.52% zinc; 2 metres of 427 g/t silver, 0.33% lead and 0.42% zinc; and 2.5m of 232 g/t silver, 1.24% lead and 0.43% zinc.
Minaurum has also commenced an extensive exploration program including the survey of old mine workings, detailed geologic mapping, rock sampling, and the interpretation of structural geology and geochemical zonation.
“We are very pleased to receive high grade results right at the outset of our initial sampling program at La Quintera.” stated Darrell Rader, President and CEO. “We have now commenced an exploration program to locate further high grade silver zones and to define drill targets.”
Table 1. Initial sampling collected at La Quintera by Minaurum.
|Samp No||Sample Type||Width (m)||Ag g/t||Au g/t||Cu%||Pb%||Zn%||*AgEq g/t|
*AgEq values calculated on basis of USD prices: Ag: $19.70/troz, Au: $1,345/troz, Cu: $2.10/lb, Pb: $0.86/lb, Zn: $1.04/lb.
La Quintera is 45 km northwest of Pan American’s Alamo Dorado silver mine, and 15 km south of Cobre Del Mayo’s Piedras Verdes copper mine. The project hosts a high-grade epithermal vein system, which is estimated to have produced in excess of 120 Moz of silver from 1680 to the early 1900s from several historic mines. The project has excellent infrastructure and is fully permitted from exploration through production.
Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National Instrument 43-101, collected the samples listed in this report (except for those stated as being historical), reviewed and verified the assay data and has approved the disclosure in this News Release. The listed samples were personally sealed and delivered to the ALS Chemex sample-preparation facility in Hermosillo, Sonora, Mexico. ALS Chemex prepared the samples, crushing them to 70% less than 2mm, splitting off 250g, and pulverizing the split to more than 85% passing 75 microns. The resulting sample pulps were then sent to ALS Chemex’s analytical laboratory in North Vancouver, BC, Canada for assay. Analysis was done for 48-elements (including silver) by a 4-acid digestion and inductively coupled plasma atomic emission spectroscopy (ICP-AES). Sample pulps with silver values greater than 100 g/t; and copper, lead, or zinc values greater than 10,000 ppm (1%) were re-analyzed using 4-acid digestion and atomic absorption spectrometry (AAS). Samples were analyzed for gold using fire assay and ICP-AES.
Minaurum Gold is a regional explorer focusing on the exploration and development of high-grade gold and silver projects in Mexico. The Company is led by an experienced exploration and finance team credited with several district-scale discoveries. 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
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the intended use of proceeds, 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, including that the Minaurum is able to obtain any required government or other regulatory approvals, equipment and personell for its planned operations and that actual results of exploration activities will be consistent with management’s expectations. 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, including actual results of Minaurum’s operations being different than those expected by management and delays in obtaining or failure to obtain required government or other regulatory approvals, equipment, personnel or financing. 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.