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Minaurum Gold Inc.

05/01/2019 | Press release | Distributed by Public on 05/01/2019 10:07

Minaurum Doubles Size of Alamos Project, Discovers Four New Vein Zones and Samples 675 g/t Silver and 3.4% Copper

Minaurum Gold Inc., ('Minaurum') is pleased to announce that it has more than doubled the size of its Alamos Silver project in Sonora, Mexico through the staking of an additional 20,872 hectares. In addition, ongoing district-scale reconnaissance mapping has found four new vein zones; Rosario, La Dura Oeste, La Dura and Tijera. A total of 20 vein zones have now been recognized at the Alamos project. Systematic drilling of these veins continues with two rigs.

'With the four newly discovered vein zones, we have now built an inventory of 20 vein zones hosted in a 10km long by 5.5km wide corridor,' stated Darrell Rader, President and CEO. 'The new concession now brings the Alamos project to over 37,000-ha, which we are confident encompasses all of this rapidly growing vein corridor.'

La Quintera 2 concession

The recently staked La Quintera 2 concession extends Minaurum's land position to the west (Figure 1) and covers more than 20,000 hectares underlain by prospective Tertiary volcanic rocks. The Company has begun reconnaissance geological mapping and geochemical sampling to identify drill targets in La Quintera 2.

Four New Vein Zones

Four new vein zones were recently discovered in the northern part of the Alamos project. The Tijera, La Dura, and La Dura Oeste vein zones represent silver-copper mineralization along NNE-striking structures. The NW-SE-trending Rosario zone demonstrates potential for high-grade mineralization along a new structural direction. These new vein zones are shown below in relationship to previously announced vein zones (Figure 2), along with a geological map of the vein zones area (Figure 3). Sample locations are also shown on Figure 3, with assay results of selected samples from the zones presented in Table 1.

Rosario Vein Zone

The Rosario Vein has been traced for 500 metres within a NW-SE-trending normal fault zone that extends for at least 2 km. The zone consists of veinlets and vein breccia hosted by andesite and limestone. At the Rosario workings, consisting of a shaft and adit, two 1-m chip samples ran 227 and 304 g/t Ag. One 2-m chip sample in limestone taken 230 m to the northwest of the workings assayed 675 g/t Ag, 1.0% Cu, and 0.9% Pb. Recently recovered records of the La Quintera Mining Company dating from the 1880s indicate that the Rosario vein was 6 inches (15 cm) wide at the surface but widened to 6 feet (1.8 m) at a depth of 58 feet (17,7 m), and that the vein showed potential to continue to widen at depth.

La Dura Oeste Vein Zone

The NNE-trending La Dura Oeste lies about 370 m west of the La Dura zone and has been traced for 550 m. A grab sample from a small prospect pit dump assayed 3.4% Cu and 30 g/t Ag. A sample of float assayed 4.2% Pb and 37 g/t Ag.

La Dura Vein Zone

The north-striking, nearly vertical La Dura vein can be followed for 1.6 km in andesitic agglomerate and granodiorite. A 0.5-m chip sample hosted in agglomeratic andesite assayed 123 g/t Ag and 2.1% Cu.

Tijera Vein Zone

The Tijera Vein lies along a curving fault zone at the contact between lithic tuff and andesitic agglomerate about 350 m west of the Púlpito vein zone (see News Release dated June 5, 2018). It has been traced for more than 750 m and anomalous Ag and Cu have been reported from chip samples along it.

Table 1. Rock geochemical sampling, Tijera, La Dura, La Dura Oeste, and Rosario vein zones.

Sample

Type

Vein zone

Sample width (m)

Ag g/t

Au g/t

Cu %

Pb %

Zn %

593111

Chip

Rosario

1.0

227

0.01

0.36

0.26

0.28

593112

Chip

Rosario

1.0

304

0.00

0.06

0.00

0.03

593114

Chip

Rosario

2.0

675

0.01

1.03

0.89

0.30

922266

Dump

Rosario

328

0.01

0.50

0.21

0.04

927108

Grab

Rosario

0.7

12

0.03

1.34

0.04

0.04

927138

Grab

Rosario

263

0.02

0.75

1.60

0.62

927139

Grab

Rosario

460

0.01

0.39

0.77

0.09

927114

Dump

La Dura Oeste

30

0.05

3.41

0.20

0.04

927115

Float

La Dura Oeste

37

0.13

0.08

4.21

0.46

929167

Chip

La Dura

0.5

123

0.01

2.11

0.03

0.03

929174

Chip

La Dura

1.0

43

0.01

0.04

0.10

0.05

929175

Chip

La Dura

0.5

29

0.01

0.05

0.16

0.06

929180

Chip

La Dura

0.5

40

2.91

0.12

0.78

0.66

929161

Chip

Tijera

0.2

23

0.00

0.50

0.05

0.15

929163

Chip

Tijera

0.3

36

0.00

0.41

0.10

0.15

929164

Chip

Tijera

0.1

35

0.01

0.77

0.00

0.01

Figure 1. Alamos Project concessions, showing newly added La Quintera 2 concession.

Please click on map image to view in full size.

[Attachment]

Figure 2. Newly mapped and sampled vein zones, Alamos Project.

Please click on map image to view in full size.

[Attachment]

Figure 3. Geological map of the Tijera, La Dura, La Dura Oeste, and Rosario vein zones,

Alamos Project, showing silver values in rock samples.

Please click on map image to view in full size.

Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is a Mexico-focused explorer concentrating on the high-grade Alamos Silver project in southern Sonora State. With a property portfolio encompassing multiple additional district-scale projects, Minaurum 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 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.

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.

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.

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.

Quality Assurance/Quality Control: Preparation and assaying of drilling samples from Minaurum's Alamos project are done with strict adherence to a Quality Assurance/Quality Control (QA/QC) 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 Hermosillo, Sonora, Mexico. ALS prepares 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 are prepared in Hermosillo, and then shipped to Vancouver for chemical analysis by ALS Minerals. In Vancouver, the pulps are analyzed for gold by fire assay and ICP/AES on a 50-gram charge. In addition, analyses are done for a 48-element suite using 4-acid digestion and ICP analysis. Samples with silver values greater than 100 g/t; and copper, lead, or zinc values greater than 10,000 ppm (1%) are re-analyzed using 4-acid digestion and atomic absorption spectrometry (AAS).

Quality-control (QC) samples are inserted in the sample stream every 20 samples, and thus represent 5% of the total samples. QC samples include standards, blanks, and duplicate samples. Standards are pulps that have been prepared by a third-party laboratory; they have gold, silver, and base-metal 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 0.005 ppm gold; 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, QC sample results are inspected for deviation from accepted values. To date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.