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Minaurum Gold Options Adelita Copper Project to Ocean Park Ventures Corp.
Feb. 15, 2011 (TheNewswire.ca) -- NEWS RELEASE MINAURUM GOLD INC. FOR RELEASE: February 15...
About this update from Minaurum Silver Inc.
[{"type":"text","content":"\nMinaurum Gold Options Adelita Copper Project to Ocean Park Ventures Corp.\n\n\n Feb. 15, 2011 (TheNewswire.ca) -- NEWS RELEASEMINAURUM GOLD INC.FOR RELEASE: February 15, 2011 TRADING SYMBOL TSX.V: \"MGG\"(MGG 2011 - NR#3)Minaurum Gold Options Adelita Copper Project to Ocean Park Ventures Corp. (OOTC:OCPFF) (TSXV:OCP) Minaurum Gold Inc. (\"Minaurum\") is pleased to announce that it has entered into an Option Agreement with Ocean Park Ventures Inc. (\"OCP\"). The Agreement grants OCP the right to acquire a 51% interest in the Adelita Copper-Gold-Silver project located in Mexico.OCP is a TSX Venture listed company with a focus on copper and gold projects in the Americas. The OCP Agreement allows Minaurum to focus on its gold and silver projects including the Aurena Gold Project which is currently be drill tested. The Phase 1 program at Aurena includes ten to fifteen holes. Approximately 30% of the rock chip samples in the area being drilled assayed more than 1 gram per tonne (g/t) Au; the highest gold value was 6.46 g/t. Similarly, 30% of the soil samples assayed greater than 0.5 g/t Au; the highest Au value in soils was 5.77 g/t Au (See Press Release dated October 19, 2010).The Property\nThe Adelita Property straddles the border of Sonora and Sinaloa States in Mexico, and lies just 6 kilometres east of Pan American Silver's (NASDAQ:PAAS) (TSX:PAA) open pit Alamo Dorado silver mine. The geologic setting of the Property is similar to that of Alamo Dorado (proven and probable reserves of 10 Mt of 95 g/t silver and 0.33 g/t gold) and Frontera Copper's (TSX:FCC'T) (OOTC:FRCWF) Piedras Verdes Porphyry Copper deposit (proven and probable reserves of 194 Mt of 0.36% copper), located 60 kilometres to the northwest.Minaurum's 2010 drill program confirmed a high grade copper-gold-silver skarn target. Highlights include diamond drill holes CGDD-10-001, which returned 16.15 metres of 1.97% copper, 0.84 g/t gold and 73 g/t silver, and CGDD-10-002 which returned 47.64 metres of 0.98% copper, 0.46 g/t gold and 46 g/t silver. The skarn mineralization occurs near the edge of a 500 metre by 2,000 metre undrilled copper soil geochemical anomaly. Regional sampling and mapping of altered intrusive rocks suggests a possible buried porphyry system over a 3 square kilometre area.Terms of the Proposed Transaction\nPursuant to the Agreement, Minaurum will...