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Minaurum Acquires High-Grade Aurifero Gold Project
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2020) - Minaurum Gold Inc., (TSXV: ...
About this update from Minaurum Silver Inc.
[{"type":"text","content":"Minaurum Acquires High-Grade Aurifero Gold ProjectVancouver, British Columbia--(Newsfile Corp. - January 29, 2020) - Minaurum Gold Inc., (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) (\"Minaurum\") is pleased to announce that through a series of acquisitions and the signing of an option agreement, it has expanded its presence in the Alamos Mining District in Sonora, Mexico by acquiring control of the Aurifero Gold Project. The 1,229-hectare project lies 35 km northwest of Minaurum's Alamos Silver Project. Located between both projects is Mexico's third largest copper mine, Cobre Del Mayo's Piedras Verdes mine. Aurífero contains a swarm of gold- and silver-bearing epithermal veins within a NW/SE-trending zone measuring 3 km long and more than 400 m wide. Satellite imagery and ground reconnaissance geology indicate that the alteration signature is similarly widespread. The project has seen numerous campaigns of shallow reverse circulation and core drilling since the 1980s totaling over 8,000 metres. Holes were on average less than 100 m deep; the deepest reaching a vertical depth of 135 m from surface. There are currently a number of operators conducting small-scale mining on the project. Under the option agreement, the miners are restricted to a maximum mining depth of 100 m.Highlights of historic drilling include: (See Table 1.)3.1 m of 18.37 g/t Au (Hole DMDDH-01)24.5 m of 3.12 g/t Au (Hole 07-MN-10)48 m of 1.47 g/t Au (Hole CI-35)58 m 3.65 g/t Au (Hole CI-09)24 m of 2.42 g/t Au (Hole CI-34)\"We are pleased to add this high-grade project to our portfolio,\" stated Darrell Rader, President and CEO of Minaurum Gold. \"Historical data shows that the project has never been drilled deeper than 135 m and some of the deepest holes stopped in mineralization. Our due diligence found evidence that past exploration and current mining targeted only the highest levels of a substantial epithermal gold and silver system. We will permit and drill several deep holes in 2020 to test our geological model.\" Table 1. Historical drilling highlights, Aurífero project. Minera Terrazas and Pershimco performed diamond (core) drilling; Peñoles used a reverse-circulation drill.CompanyHoleFrom (m)To (m)Interval (m)Ag (g/t)Au (g/t)Peñoles CI-0940.0098.0058.003.65CI-226.0048.0042.001.7CI-3454.0078.0024.002.42CI-3536.0084.0048.001.47Minera Terraz...