03:20:31 EDT Wed 20 Jun 2018
Enter Symbol
or Name

Minaurum Gold Inc
Symbol C : MGG
Shares Issued 48,312,146
Close 2012-05-14 C$ 0.21
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Minaurum Gold starts 2,500 m of drilling at Corazonada

2012-05-15 09:31 ET - News Release

Mr. Darrell Rader reports


Minaurum Gold Inc. has started a minimum 2,500-metre diamond drilling program on its 5,800-hectare Corazonada silver-zinc skarn project in Morelos state, Mexico. The Corazonada project is an intrusion-centred skarn system hosted by carbonate rocks identical to those of the numerous gold deposits of the 15-million-ounce Guerrero gold belt as well as Esperanza Resources' nearby one-million-ounce Cerro Jumil gold deposit. Drilling at Corazonada will both test a prominent aeromagnetic anomaly in the southwest portion of the project and follow up on strong silver and zinc values from surface rock-chip sampling.

The surface exposure of the Corazonada skarn system flanks a north-northwest-trending ridge of altered intrusive and carbonate rocks about 8.5 kilometres long and up to 3.5 kilometres wide. Garnet and pyroxene skarn affect both the carbonate and intrusive rocks and have associated zinc, lead and silver mineralization. Surface rock chip assays have returned up to 698 grams per tonne silver, 2.7 per cent zinc and 1.9 per cent lead. Project infrastructure is excellent with good road access and electricity.

Zinifex USA Ltd. conducted an exploration program at Corazonada from 2007 to 2008 consisting of geologic mapping, surface sampling, a helicopter-borne magnetic survey and a 2,000-metre core drilling program. After Zinifex was merged with Oxiana Minerals to form OZ Minerals, OZ dropped the project without drill testing the strongest magnetic anomalies.

"Corazonada is a large system with similar size potential to that of the major gold skarns of the Guerrero gold belt," remarked Darrell Rader, president and chief executive officer of Minaurum. "Cerro Jumil began as a silver-zinc skarn prospect, but important gold values were intersected in drilling in the West zone, and later in surface exploration and drilling in the southwest extension area. We believe that the large and prominent magnetic anomaly we are targeting represents a deeper part of the Corazonada skarn system that, in addition to silver-zinc mineralization, may encounter gold-dominant mineralization."

Minaurum is also pleased to announce the launch of its new website with informational videos on the 15-million-ounce Guerrero gold belt, Mexico. The Web address remains the same. The website has a new, user-friendly interface providing visitors a clearer understanding of Minaurum's exploration portfolio in Mexico.

The informational videos on the Guerrero gold belt are presented by gold-skarn expert David Jones, a director and senior geologist for Minaurum Gold. Mr. Jones's exploration model was pivotal in the discovery of a number of gold deposits in the Guerrero gold belt, including Goldcorp's eight-million-ounce Los Filos deposit.

Qualified person

Stephen Maynard, MS, CPG, has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release.

Quality assurance/quality control

Preparation and assaying of drilling samples from Minaurum's projects are done with strict adherence to a quality assurance/quality control protocol. Core samples are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed courier to ALS Minerals' preparation facility in Guadalajara, Jalisco, Mexico. Pulps of the samples are prepared in Guadalajara, from where they are shipped to Vancouver for chemical analysis by ALS Minerals. Samples are analyzed for gold and silver by fire assay and ICP/AES on a 50-gram charge. In addition, analyses are done for a 51-element suite using aqua regia digestion and ICP analysis.

Quality control samples are inserted in the sample stream every 20 samples and thus represent 5 per cent of the total samples. Quality control samples include standards, blanks and duplicate samples. Standards are pulps that have been prepared by a third party laboratory; they have gold values that are established by an extensive analytical process in which several commercial labs (including ALS Minerals) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than background values of gold and silver; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half and then quartered. The first quarter is the original sample; the second becomes the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.

When final assays are received, quality control sample results are inspected for deviation from accepted values.

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