Business
Minaurum Announces Acquisition of Vuelcos Del Destino Gold Project
Minaurum Announces Acquisition of Vuelcos Del Destino Gold Project
About this update from Minaurum Silver Inc.
[{"type":"text","content":"\nMinaurum Announces Acquisition of Vuelcos Del Destino Gold Project\n\n\n Apr. 6, 2010 (TheNewswire.ca) -- Minaurum Gold Inc. (the \"Company\" or \"Minaurum\") is pleased to announce that it has has entered into an agreement with Minera Zalamera S.A. de C.V. to acquire 100% of the Vuelcos del Destino Gold project in Guerrero state, Mexico. David M. Jones, credited with the discovery of the Los Filos deposit and President of Minera Zalamera, recognized the Project's potential due to its geological similarities to deposits of the Guerrero Gold Belt.Vuelcos del Destino lies on the southeastern projection of the 15 million oz Guerrero Gold Belt (\"GGB\"). The Guerrero Gold Belt deposits are closely spaced along a north-northwest - south-southeast trend about 30 kilometers long. The Vuelcos del Destino ground lies on the continuation of this trend, 19 kilometers from Gold Corp's Los Filos mine (11 million ounces gold). The Project concession block covers 8,800 hectares and is approximately 25 highway kilometers north of the Guerrero state capital of Chilpancingo.To exercise the Option, Minaurum shall be required to make a total of $335,000 in cash payments, issue a total of 1,000,000 common shares of stock and incur a total of $2,000,000 in exploration expenditures on the Project over a four year time period.Vuelcos del Destino is centered on a Tertiary granodiorite stock complex emplaced in carbonate rocks of the Cretaceous Morelos Formation. The intrusions are biotite-and quartz-rich porphyries similar to intrusive rocks associated with gold deposits along the GGB. Contact-related calc-silicate (skarn) and magnetite-oxide-jasperoid alteration is locally developed in the carbonates, and intrusive rocks host widespread structurally controlled oxide-clay-calcite alteration, identical in setting and style to that seen at Goldcorp's (NYSE:GG) Los Filos and Bermejal open pit mines.The exploration target is a 6 kilometer-long stock contact zone showing extensive intrusion-hosted alteration and adjacent iron oxide-magnetite exoskarn. Similar rock types and alteration styles are the host to Goldcorp's Los Filos deposits.\"Minaurum is very pleased to acquire this underexplored gold skarn property from a recognized expert in Mexican gold skarn deposits\" stated Darrell Rader, Minaurum Gold's President and CEO. \"Vuelcos del Destino's locatio...