Minaurum Identifies New Bulk-Tonnage Silver Target at La Quintera
VANCOUVER, BC / ACCESSWIRE / November 9, 2016 / Minaurum Gold Inc. (TSXV: MGG) ("Minaurum") is pleased to announce that its ongoing mapping and sampling program along with the reinterpretation of historical data has identified a new bulk-tonnage silver target at the La Quintera Silver Project in Southern Sonora State, Mexico.
The Minas Nuevas bulk-tonnage target has a strike length of 700 meters and is 25 meters wide. It includes the Zambona and Purísima historical mines which produced approximately 35 million ounces of silver from small open pits and underground workings between 1860 to about 1910. Mineralized stockwork quartz veining surrounding the old workings exhibits the potential for bulk-tonnage silver mineralization. The depth of the workings indicates that the stockwork veining extends to depths greater than 100 meters. In addition, 101 historical rock samples from outcrops and veining in old mine workings at Minas Nuevas averaged 128 g/t Ag with a high of 875 g/t Ag. Minaurum's sampling work confirmed the previous results and returned from old mine workings; 236 g/t Ag, 178 g/t Ag and from surface; 112 g/t Ag, 134 g/t Ag and 176 g/t Ag.
"Minas Nuevas represents the first of a number of drill targets that we are progressing to the drill stage at La Quintera," stated Darrell Rader, President and CEO of Minaurum Gold. "Our exploration program has thus far delineated multiple high-grade silver targets and we expect to identify more as we complete the first systematic mapping and sampling program undertaken in this historic district."
Minas Nuevas lies on the northern extension of the 7 km, north-northeast trending Promontorio-La Quintera vein system that is the focus of the ongoing drill-target generation program consisting of geologic mapping and geochemical sampling. Minaurum is in the process of assaying over 150 samples collected to date.
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 is a Mexico focused explorer concentrated on the Southern Sonora State, Oaxaca-Chiapas Region and the Guerrero Gold Belt, managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue its founder's 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 pannu@minaurum.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure 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.