Minaurum Regains 100% Control of Adelita Gold-Silver-Copper Project
17 Gennaio 2013 - 9:04PM
Marketwired Canada
Minaurum Gold Inc. ("Minaurum") (TSX VENTURE:MGG) is pleased to report that it
has regained 100% control of the 12,291-ha Adelita gold-silver-copper project in
southern Sonora, Mexico from its joint venture partner, Ocean Park Ventures
Corp. ("OCP").
Located 6 km east of Pan American Silver Corp.'s Alamo Dorado silver mine,
Adelita hosts near-surface high-grade copper, gold and silver skarn
mineralization that continues intermittently for 4 kilometres along the contact
of the previously unrecognized Mezquital Copper-Molybdenum Porphyry.
The remaining results from OCP's 2012 drilling of the Cerro Grande skarn target
and initial drilling at the Mezquital porphyry will be reported as assay reports
and core are received. The results from drilling on the property by Minaurum and
OCP to date are presented in the tables below.
The Cerro Grande skarn zone can be traced for over 800 m on surface and measures
4km along strike. The Cerro Grande skarn forms part of a favorable contact zone
with the Mezquital Porphyry. OCP's drilling at Cerro Grande concentrated on a
120-m long segment of Cerro Grande and demonstrated 300 m of down-dip continuity
of mineralized skarn. The similar but as yet un-drilled "Andalucia" skarn zone
lies 2.5 km south of Cerro Grande and has been exposed in trenches along 70 m of
strike length. Trench samples at Andalucia grade up to 4.19% copper, 9.22 g/t
gold and 162 g/t silver. Andalucia is permitted and drill-ready. Another
undrilled skarn zone is the "Cerro Grande West" target lying 200-700m west of
the main Cerro Grande discovery. Surface mineralization at Cerro Grande West has
been identified over more than a kilometer of strike, roughly parallel to the
main Cerro Grande zone and surface sampling has returned values grading up to
2.23% copper, 0.62 g/t gold and 209 g/t silver.
"We are very pleased to recover 100% control of Adelita, which has potential for
both near-surface and readily exploitable high-grade copper-silver-gold skarn
mineralization and an adjoining Copper-Molybdenum porphyry system," stated
Darrell Rader, Minaurum President and CEO. "The results generated by Ocean
Park's considerable investment reinforce our initial discovery of high-grade
skarn mineralization and indicates it may continue to depth and laterally along
the margins of the emerging Porphyry system. We look forward to aggressively
exploring the skarn to test for high-grade mineralization between Cerro Grande
and Andalucia and at Cerro Grande West."
Minaurum optioned the project to OCP in February 2011 (see Minaurum press
release dated 15 February, 2011). OCP invested over $1,500,000 in an extensive
ground geophysical survey, follow-up drilling of the Cerro Grande skarn zone,
and initial drilling on the adjoining 10 km2 Mezquital Porphyry Copper target.
OCP did not meet financial obligations of the option agreement due in late 2012,
resulting in the termination of the Agreement by Minaurum.
Highlights from Minaurum's (2010) drill program at the Cerro Grande skarn
target. (see Minaurum news release dated October 6, 2010)
--------------------------------------------------------------------
From To Interval Au Ag
Drill Hole (m) (m) (m) Cu % g/t g/t
--------------------------------------------------------------------
CGDD-10-001 35.65 51.80 16.15 1.97 0.835 73
--------------------------------------------------------------------
includes 35.65 40.98 5.33 2.34 1.123 85
--------------------------------------------------------------------
CGDD-10-002 35.57 83.21 47.64 0.98 0.462 46
--------------------------------------------------------------------
includes 35.57 47.40 11.83 1.27 0.302 19
--------------------------------------------------------------------
and 63.40 69.71 6.31 3.56 2.230 238
--------------------------------------------------------------------
CGDD-10-004 184.79 195.99 11.20 1.11 0.587 39.9
--------------------------------------------------------------------
includes 184.79 186.84 2.05 1.30 1.040 32.8
--------------------------------------------------------------------
and 189.89 182.77 2.88 2.44 1.285 97
--------------------------------------------------------------------
Highlights from OCP's 2012 drill program at the Cerro Grande skarn target. (see
Minaurum news releases dated May 31, 2012 and May 3, 2012)
---------------------------------------------------------------------
From To Interval Copper Gold Silver
Drill Hole (m) (m) (m) % g/t g/t
---------------------------------------------------------------------
CGDD-12-009(i) 5.6 110.8 105.2 1.03 0.43 36.3
---------------------------------------------------------------------
including 35.1 110.8 75.7 1.42 0.59 50.0
---------------------------------------------------------------------
including 35.1 77.0 41.9 2.21 0.93 77.5
---------------------------------------------------------------------
CGDD-12-010 97.6 131.3 33.7 0.91 0.34 46.4
---------------------------------------------------------------------
including 98.6 120.0 21.4 1.40 0.53 72.2
---------------------------------------------------------------------
CGDD-12-011 87.4 91.8 4.5 0.73 0.03 14.4
---------------------------------------------------------------------
159.2 264.5 105.3 0.25 0.07 7.4
---------------------------------------------------------------------
including 159.2 163.3 4.1 0.83 0.07 22.2
---------------------------------------------------------------------
including 175.6 194.1 18.5 0.52 0.15 21.0
---------------------------------------------------------------------
including 241.0 261.4 20.5 0.41 0.15 6.6
---------------------------------------------------------------------
CGDD-12-012 27.0 228.4 201.4 0.52 0.15 12.5
---------------------------------------------------------------------
154.4 223.7 69.3 1.28 0.36 32.6
---------------------------------------------------------------------
189.7 190.4 0.7 8.13 3.09 398.0
---------------------------------------------------------------------
(i) This hole was drilled down the dip of the mineralized trend to determine
vertical continuity.
Minaurum Gold is primarily focused on its projects in the Guerrero Gold Belt,
Mexico. Surface work continues at the Vuelcos del Destino, El Porfido, and
Jackie Projects. For more information, please visit our website at
www.minaurum.com and our You Tube Minaurum Video Channel.
Qualified Person: Mr. Stephen R Maynard, M.S., C.P.G., is a qualified person as
defined in National Instrument 43-101 and supervised the preparation of the
technical information in this release.
ON BEHALF OF THE BOARD
Darrell A. Rader, President and CEO
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this
release, including statements regarding the drilling results and geological
interpretations and exploration plans for the Adelita project 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 drilling results will be
received as expected, that financing will be available if and when needed on
reasonable terms, that supplies, equipment, personnel, permits and approvals
required to conduct Minaurum' s planned exploration activities will be available
on reasonable terms, that results of exploration activities will be consistent
with management's expectations and that Minaurum will not experience any
material accident, labour dispute, or failure of equipment. 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. Such risk factors may
include, among others, risk that drilling results will not be received as
expected, actual results of exploration activities will be different than
anticipated, that cost of labour, equipment or materials will increase more than
expected, risk of accidents, labour disputes and other risks generally
associated with mineral exploration and unanticipated delays in obtaining or
failure to obtain required approvals 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. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Minaurum Gold Inc.
Sunny Pannu
Investor Relations Manager
(778) 330 0994
info@minaurum.com
www.minaurum.com
Grafico Azioni Dunnedin Ventures, Inc. (TSXV:OCP)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Dunnedin Ventures, Inc. (TSXV:OCP)
Storico
Da Dic 2023 a Dic 2024
