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Minaurum Announces Acquisition of Adelita Gold Project
Minaurum Announces Acquisition of Adelita Gold Project
About this update from Minaurum Silver Inc.
[{"type":"text","content":"\nMinaurum Announces Acquisition of Adelita Gold Project\n\n\n Mar. 8, 2010 (TheNewswire.ca) -- Minaurum Gold Inc. (the \"Company\" or \"Minaurum\") announces that the Company has entered into an agreement with Minera Coplau, a subsidiary of Minera Cascabel S.A. de C.V., to acquire the Adelita Gold-Silver-Copper Skarn-Porphyry project in southern Sonora and adjacent Sinaloa states, Mexico. Adelita lies just 6 km east of Pan American Silver's (NASDAQ:PAAS) (TSX:PAA) Alamo Dorado Mine. Minera Cascabel recognized that high-grade mineral showings and widespread anomalous geochemistry on the property indicate excellent potential for additional discoveries in this demonstrably mineralized, but as-yet undrilled region. Minaurum can acquire a 100% interest in the Project by making staged payments totaling 925,000 common shares and US$540,000 over three years.\"Minaurum is very pleased to acquire this underexplored high-grade skarn-porphyry property from one of the premier project generating groups in Mexico\" stated Darrell Rader, Minaurum Gold's President and CEO. \"We can see Pan American's operations from the property and have the benefit of all the geologic advancement and infrastructure improvements their operations have brought to the area\".The geologic setting of the Adelita project is broadly similar to that of Pan American Silver's nearby Alamo Dorado open-pit silver mine (proven and probable 10 mt of 95 g/t Ag and 0.33 g/t Au) and the Piedras Verdes Porphyry Copper deposit (proven and probable 194 mt of 0.36% Cu, at $1.65/lb Cu), about 60 km to the northwest. A high-grade Cu-Au-Ag skarn target (the Adelita skarn prospect) has been identified on the property. Widespread stream-sediment geochemical anomalies and altered intrusive rocks suggest potential for a buried Porphyry Copper system.The exploration plan for the next 4-6 months includes: 1) a first-phase diamond drill program on the main Adelita Cu-Au-Ag skarn zone, 2) completion of reconnaissance geologic mapping and stream-sediment and rock sampling over the entire project, 3) detailed geologic mapping in areas of interest, 4) grid soil sampling over identified target areas, 5) an airborne magnetic and electro-magnetic geophysical survey over the entire concession block, and 6) generation of additional drill targets based on the mapping, sampling, and geophysical survey....