[ACCESSWIRE]
VANCOUVER, BC / ACCESSWIRE / December 14, 2016 / Minaurum Gold, Inc. (TSX-V: MGG) (OTC PINK: MMRGF) ("Minaurum") is pleased to announce it has identified three new targets along a 2.5km section of the 7.5-km long epithermal vein system located at the La Quintera Silver Project in southern Sonora State. This area contains the La Quintera and Promontorio mines, which are estimated to have produced more than 140 million ounces of silver from 1680 to 1910. Geological mapping and sampling continue in the three target areas, as well as in additional potential targets on parallel zones.
La Quintera Mine Target:
The La Quintera vein was mined along approximately 800m of strike length and to depths of 500m. Minaurum's research of historical records indicates that labor disputes on the eve of the Mexican Revolution led to the ceasing of mining activities while still in silver mineralization averaging 40 oz/t Ag and 8% Cu. In addition, one of the four major ore shoots defined at the mine was not developed. Minaurum's mapping and sampling has discovered a new vein running parallel to the principal vein. This parallel vein along with the down-dip extension of known mineralization in the La Quintera vein form the primary targets. Highlights of Minaurum's sampling along with historical results dating back to 2013 are presented in Table 1.
Table 1. Highlights of Minaurum Gold and historical sampling in La Quintera mine area.
| Sample |
Company |
Surface/ underground |
Width (m) |
Ag g/t |
Au g/t |
Cu % |
Pb % |
Zn % |
| 101135 |
Minaurum |
La Covacha adit |
1.0 |
595 |
0.03 |
1.11 |
0.19 |
0.52 |
| 101172 |
Minaurum |
Surface |
1.2 |
1750 |
0.11 |
0.67 |
0.02 |
0.08 |
| 101179 |
Minaurum |
La Covacha adit |
1.6 |
347 |
0.03 |
0.76 |
0.87 |
2.02 |
| 600101 |
Historical |
Surface |
3.0 |
489 |
0.00 |
0.54 |
0.10 |
0.24 |
| 600102 |
Historical |
Surface |
3.0 |
376 |
0.18 |
0.17 |
0.57 |
0.18 |
| 1120669 |
Historical |
Surface |
2.5 |
581 |
0.14 |
0.96 |
0.12 |
0.38 |
| 1120717 |
Historical |
Surface |
3.0 |
326 |
0.01 |
2.42 |
0.02 |
0.04 |
| 1120736 |
Historical |
La Covacha adit |
2.5 |
1160 |
0.02 |
1.90 |
1.44 |
1.20 |
Gap Target:
The Gap is a 500-metre long zone between the southernmost workings of the La Quintera mine and the northernmost workings of the Promontorio mine. The Gap, for various historical reasons, was not developed even though the same surface geological elements as at the La Quintera and Promontorio mines are present. Minaurum has mapped multiple semi-continuous quartz veins over more than 300 metres of strike length in the Gap. Additional sampling and mapping is underway in the Gap area. The Gap has the potential to host an unexploited silver shoot. See Table 2 for the sampling highlights.
Table 2. Highlights of Minaurum Gold and historical sampling at the Gap Target.
| Sample |
Company |
Surface/ underground |
Width (m) |
Ag g/t |
Au g/t |
Cu % |
Pb % |
Zn % |
| 3752 |
Minaurum |
Surface |
1.0 |
264 |
0.70 |
0.22 |
0.14 |
0.47 |
| 3753 |
Minaurum |
Surface |
1.0 |
60 |
0.22 |
0.05 |
0.06 |
0.07 |
| 101750 |
Minaurum |
Surface |
1.0 |
142 |
0.03 |
0.46 |
0.54 |
1.02 |
| 925950 |
Minaurum |
Surface |
2.3 |
36 |
0.38 |
0.06 |
0.02 |
0.07 |
| 1120648 |
Historical |
Surface |
0.7 |
102 |
0.04 |
0.27 |
0.55 |
0.65 |
| 1120660 |
Historical |
Surface |
4.0 |
50 |
0.35 |
0.07 |
0.04 |
0.07 |
Promontorio Mine Target:
At the Promontorio target, the La Quintera vein was developed over a strike length of 800m and locally to depths of 200m below the level of the Promontorio adit. As at the La Quintera Mine, labor disputes in the years before the Mexican Revolution stopped mining while still in high-grade silver mineralization. Based on Minaurum mapping and sampling, the immediate target is the down-dip extension of known workings along with the potential for mineralized structures parallel to the principal vein. Base-metal and gold values are consistently higher at Promontorio area than at the other targets. Highlights of Minaurum's and historical sampling at Promontorio are presented in Table 3.
Table 3. Highlights of Minaurum Gold and historical sampling at the Promontorio Target
| Sample |
Company |
Surface/ underground |
Width (m) |
Ag g/t |
Au g/t |
Cu % |
Pb % |
Zn % |
| 101131 |
Minaurum |
Surface |
1.0 |
244 |
0.46 |
1.08 |
1.22 |
8.50 |
| 925933 |
Minaurum |
Surface |
1.2 |
95 |
0.79 |
0.37 |
2.02 |
6.20 |
| 925935 |
Minaurum |
Surface |
1.0 |
366 |
0.64 |
0.32 |
0.75 |
3.92 |
| 925939 |
Minaurum |
Surface |
1.2 |
52 |
0.58 |
0.09 |
0.78 |
1.98 |
| 925940 |
Minaurum |
Surface |
1.0 |
260 |
1.22 |
0.35 |
2.91 |
15.95 |
| 1120550 |
Historical |
Surface |
1.2 |
52 |
0.52 |
1.28 |
1.55 |
4.39 |
| 1120661 |
Historical |
Surface |
3.0 |
483 |
1.18 |
1.61 |
0.77 |
1.66 |
| 1120702 |
Historical |
Surface |
1.5 |
104 |
1.89 |
0.15 |
2.03 |
0.34 |
"As we advance the first systematic exploration program undertaken in this historical district, we continue to identify new high-grade silver targets," stated Darrell Rader, President and CEO of Minaurum. "The targets reported above demonstrate the potential of this project to host both new, unexploited silver shoots along with down-dip extensions of the historical silver deposits."
The three new targets lie in the southern part of the 7.5 km long Promontorio-La Quintera vein system that is the focus of the ongoing drill-target generation program consisting of geologic mapping and geochemical sampling. Nearly 200 rock samples have been taken by Minaurum to date, in addition to more than 300 samples in the historical database.
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.
Minaurum, a Mexico-focused explorer concentrated in southern Sonora State, the Oaxaca-Chiapas Region, and the Guerrero Gold Belt, is managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue its founders' legacy of creating shareholder value by finding new district-scale mineral discoveries and executing accretive mining transactions. 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
For more information, please contact:
Sunny Pannu - Investor Relations Manager
(778) 330 0994 or via email at [email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
2300 - 1177 West Hastings Street
Vancouver, BC V6E 2K3
Telephone: 778 330-0994
www.minaurum.com
[email protected]
The listed samples were 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.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release 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. 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. 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.
SOURCE: Minaurum Gold, Inc.
