Minaurum Engages Independent Mining Consultants Inc. for Mineral Resource Estimate at Alamos Silver Project
Minaurum Gold Inc. (“Minaurum” or “Company”) (TSXV: MGG) (OTCQX:MMRGF) is pleased to announce it has engaged Independent Mining Consultants Inc. (“IMC”) to complete an initial mineral resource estimate at its flagship 100%-owned Alamos silver project (“Alamos”) in Sonora State, Mexico. The NI 43-101 compliant Mineral Resource Estimate will initially focus on the Europa and Promontorio silver veins. An IMC qualified person (QP) will be on site and commence work in July 2024.
“We are very pleased to appoint IMC to complete an initial resource estimate at the Alamos silver project,” stated Darrell Rader, President and CEO of Minaurum Gold. “The resource estimate should be finished in the fourth quarter of 2024 and will incorporate results from our upcoming drill program. IMC has considerable experience in Mexico having worked for Orla Mining and Alamos Gold. As the only recent silver discovery in Mexico with a mining permit, this is the next step to advance and add significant value to our project.”
IMC has extensive international experience with a 40-year track record of producing independent assessments of resources, reserves, audits, and project evaluations including preliminary assessment reports, mine planning, and optimization. IMC’s personnel are Qualified Persons under the NI 43-101 standard and have provided QP resource-estimation services for several Mexican projects including Alamos Gold’s Mulatos and La Yaqui - Cerro Pelon mines, Argonaut Gold’s Magino project, Lumina Gold’s Cangrejos project, and Orla Mining’s Camino Rojo project. IMC is based in Tucson, Arizona.
Minaurum’s technical team is confident that the planned resource work program will not only result in calculating an initial NI 43-101 compliant mineral resource estimate, but also expand the understanding of the mineralized envelope and geology within the underexplored Alamos district.
Scope of Work
- Review Database and Complete QAQC Analysis – An independent analysis of the QAQC data that is regularly collected by Minaurum at Alamos.
- Review Existing Geologic Interpretation - A review of the cross sections and/or level plans to guide the development of the mineralization controls and geologic model.
- Qualified Person Site Visit - An IMC QP will visit the property to understand the geology, data and sample collection, and controls on mineralization.
- Geologic Interpretation and Model Assembly – A model of vein boundaries based on a combination of geologic logging and economic cutoff grades will be developed with the use of statistical tools and conventional wire frame interpretation on the Europe and Promontorio vein systems.
- Metallurgical Process Review - Results to date will be reviewed to establish a supportable basis for determination of cutoff grade.
- Geotechnical Data Review - Rock Quality Designation (RQD) and core-recovery data will be reviewed in order to make approximate judgements of mining methods. Any existing analysis of the geotechnical data will be reviewed and incorporated.
- Resource-Definition Parameters - Economic input parameters for determination of mineral resources alongside any work completed by Minaurum will be integrated into the estimate.
- Mineral Resource Estimate - Underground mineral resources will be established to determine the component of the mineralization that has reasonable expectation of economic extraction.
- NI 43-101-compliant Mineral Resource Estimate and Report - A complete independent technical report by IMC will be submitted along with the appropriate certificates and consents to publish.
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Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is a Mexico-focused explorer concentrating on the high-grade 100%-owned fully production-permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier One precious metals projects. Through a portfolio containing silver projects totaling 37,928 hectares; gold projects totaling 25,933 hectares; and copper projects totaling 12,856 hectares, Minaurum provides significant exposure to precious and base metals.
ON BEHALF OF THE BOARD
“Darrell A. Rader”
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu – Investor Relations and Corporate Development Manager
(778) 330 0994 or via email at pannu@minaurum.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National Instrument 43-101, reviewed and verified the assay data, and has approved the disclosure in this News Release. Historical data reported in this news release has not been verified.
Cautionary Note Regarding Forward Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
In making the forward-looking information 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. 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 information 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 information.
Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
