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Minaurum Announces Acquisition of Jackie Gold Project, Mexico
Minaurum Announces Acquisition of Jackie Gold Project, Mexico
About this update from Minaurum Silver Inc.
[{"type":"text","content":"\nMinaurum Announces Acquisition of Jackie Gold Project, Mexico\n\n\n Sep. 9, 2010 (TheNewswire.ca) -- Minaurum Gold Inc. (the \"Company\" or \"Minaurum\") announces that the Company has entered into an agreement with Minera Mariposa S.A. to acquire a 100% interest in the 5,025 hectare Jackie Gold project located in Guerrero State, Mexico. The project is located 65 km north-northeast of Goldcorp's (NYSE:GG) 9 million ounce Los Filos Gold Mine which is part of the 15 million ounce Guerrero Gold Belt. The project also lies 25 km east-southeast of the Taxco silver district and 40 km south-southwest of Esperanza's million ounce Cerro Jumil Gold discovery.David M. Jones, principal of Minera Mariposa and the geologist credited with discovery of the Los Filos deposit, identified the Jackie Project by recognizing numerous geological similarities to deposits of the Guerrero Gold Belt including Morelos Formation carbonate host rocks, strongly porphyritic granodiorite to quartz monzonite intrusions, and extensive skarn alteration.For 2010, the Company plans a program of reconnaissance geologic mapping and geochemical sampling and an airborne geophysical survey at Jackie, followed by detailed mapping and sampling in prospective areas. Drilling is planned for 2011.Historically prospected polymetallic quartz veins crosscut the porphyry stock and carry up to 1.2 grams per tonne (g/t) Au, 1210 g/t Ag, 1.97% Zn and 0.96% Pb. Reconnaissance sampling of retrograde iron oxides, silica, and clay-sericite alteration in rocks surrounding the stock reported Au values in the range of 20 to 340 ppb.Extensive areas of heavily iron-oxide stained soils are suggestive of well developed retrograde exoskarn alteration that constitutes the primary exploration target. The widespread nature of such alteration at Jackie suggests shallow depths to the contact where mineralization may be encountered. Extensive exoskarn in the southern part of the property indicates another exploration target. Access to the Jackie project is excellent via the Cuernavaca-Iguala highway, which bisects the property.Minaurum can acquire 100% of the Jackie Project by making staged payments totaling $350,000 and 850,000 common shares over three years. \"We are excited by this opportunity to expand our exploration portfolio of gold projects and further cement our relationship with David Jon...