Vancouver, British Columbia--(Newsfile Corp. - March 16, 2017) - Minaurum Gold, Inc. (TSXV: MGG) ("Minaurum") is pleased to announce that it has identified two new Vein targets, Amalia and Nueva Europa, at its La Quintera project in southern Sonora State. Rock sampling from quartz veins at Nueva Europa has returned values up to 2,500 g/t Ag and 3,120 g/t Ag. The Nueva Europa Vein Zone lies 500m west of the historic high-grade Quintera — Promontorio vein zone and roughly parallel to it. It has recently been traced by Minaurum geologists for more than 1,500 m along strike. Samples from the Amalia vein target have yielded values up to 14.7 g/t Au and 346 g/t Ag. The vein hosting the Amalia target has now been traced for 500m along strike. These targets are in addition to the four targets described in Minaurum's news releases of November and December of 2016.
"We are excited by the results of the first systematic exploration program carried out at La Quintera. Most of the estimated 200 Moz of silver produced on the project came from the La Quintera-Promontorio vein zone, a fault-bounded up-thrown block. It appears that the Nueva Europa and Amalia vein zones could have been down dropped by post mineral faulting giving them the potential to host new silver shoots. We plan to test these new targets along with those previously disclosed in the near future," stated Darrell Rader, President and CEO of Minaurum Gold.
The Amalia, Chinita, and Panchita prospects lie along a prominent NNE-SSW topographic linear about 450 m east of the Promontorio-La Quintera vein zone (Figure 1). Quartz veins occupy a north-northeast-striking fault zone in andesite over a strike length of 500 m and dip 75 degrees to the southeast. Additional sampling and mapping are underway in the Amalia area. Sample highlights include:
Table 1. Highlights of recent and historical sampling at the Amalia Target.
|Sample||Company||Sample type||Width (m)||Ag g/t||Au g/t||Cu %||Pb %||Zn %|
|101748||Minaurum||Mine Dump|| ||256||0.07||2.14||1.15||0.90|
|925901||Minaurum||Mine Dump|| ||249||14.7||1.00||1.31||1.96|
Las Europas Targets:
The Las Europas target consists of two distinct vein zones, Nueva Europa and Europa, that lie 500 m and 800 m west-northwest of the Promontorio-La Quintera trend, respectively (Figure 1). The Nueva Europa vein zone cuts andesitic agglomerate, tuff, and flows; it strikes north-northeast and dips steeply to the east. In its southern extent, the Nueva Europa vein zone is controlled by the fault contact between footwall marble and skarn and hangingwall andesitic agglomerate. Nueva Europa has been traced for more than 1500 m and is open to the north and south. Vein widths range from stringers to vein/breccia zone measuring more than one metre wide. The Europa vein zone has been traced for more than 400 metres and is open to the north.
Highlights of Minaurum's sampling are presented in Table 2.
Table 2. Highlights of Minaurum Gold sampling in Las Europas area.
|Sample||Sample Type||Width (m)||Ag g/t||Au ppb||Cu %||Pb %||Zn %|
|101632||Mine Dump|| ||262||47||0.23||0.16||1.00|
|922224||Dump Select|| ||213||3||0.17||0.01||0.05|
|925992||Mine Sample|| ||2,500||146||0.47||0.41||1.29|
|925993||Mine Sample|| ||235||52||0.21||0.64||1.45|
|926002||Grab Sample|| ||211||2||0.15||0.30||0.20|
|926005||Mine Sample|| ||3,120||70||0.87||0.51||1.00|
|926006||Outcrop Chip|| ||308||85||0.86||4.76||3.80|
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Figure 1. Simplified geological map of the central part of the La Quintera project, showing vein target areas described in this and earlier news releases.
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
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.