Minaurum Gold Inc. Acquires Strategic Interest in ASR Resources Corp. via JV on Adelita Copper-Gold Project
![Minaurum Gold Inc. Acquires Strategic Interest in ASR Resources Corp. via JV on Adelita Copper-Gold Project](https://www.minenportal.de/media/goldseiten-news.jpg)
ASR is a private company founded by Emerging Markets Capital, a Hong Kong based merchant bank responsible for founding and financing Reyna Silver and is a significant shareholder of Cassiar Gold.
"This agreement continues Minaurum's strategy of unlocking the value of its non-core holdings as it continues to focus on and advance the Alamos silver project", stated Darrell Rader, President and CEO of Minaurum. "Along with the recently announced Fortuna Silver Mines Inc. agreement on the Taviche project, we anticipate completing additional agreements where Minaurum receives an immediate payout in the form of cash and shares while retaining a direct interest in the ongoing exploration and development of the project."
Under the terms of the option agreement, ASR must raise a minimum of CAD$4M and go public on the TSXV or CSE via an RTO/IPO. ASR has 12 months from signing the definitive agreement to complete a listing, with a CAD$100,000 penalty if the deadline is exceeded. If ASR fails to go public after 18 months, ASR will return the project to Minaurum in good standing.
The Adelita Project
Adelita is a copper-gold project hosting both skarn and porphyry mineralization located adjacent to Pan American Silver's past-producing Alamo Dorado Silver mine. A total of 5,965 m of diamond drilling has occurred at Adelita resulting in the discovery of several zones of high-grade copper mineralization. (see Minaurum News Releases dated May 3, 2012; May 31, 2012; October 6, 2010). Highlights include:
- 16.2 metres of 1.97% Cu, 0.84 g/t Au, 73 g/t Ag (CGDD-10-001)
- 47.6 metres of 0.98% Cu, 0.46 g/t Au, 46 g/t Ag (CGDD-10-002)
- 105.2 metres of 1.03% Cu, 0.43 g/t Au, 36 g/t Ag (CGDD-12-009)
- 201.4 metres of 0.52% Cu, 0.15 g/t Au, 13 g/t Ag (CGDD-12-012)
For more information on the Adelita Copper-Gold Project: www.minaurum.com/projects/adelita
For more information on ASR Resources Corp. Contact: Jorge Ramiro Monroy jr@emarcap.com
Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade Alamos Silver Project in southern Sonora. With a property portfolio encompassing multiple additional district-scale projects, Minaurum is managed by one of the strongest technical and finance teams operating in Mexico. Minaurum's goal is to continue its founders' legacy of creating shareholder value by making 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.
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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Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National Instrument 43-101 has approved the disclosure in this News Release.
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