Vancouver, British Columbia--(Newsfile Corp. - September 19, 2024) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) ("Minaurum" or "the Company") is pleased to announce the results of the first 5 holes of the 2024 drill program to establish an initial mineral resource at its 100% owned and production permitted Alamos silver project ("Alamos") in Sonora, Mexico. The most significant results include: AL24-105 that intersected 0.70 m of 2,976 g/t silver equivalent ("AgEq") (Figure 1), AL24-107 that returned 5.60 m of 368 g/t AgEq and 2.55 m of 621 g/t AgEq and AL24-108 that returned 8.45 m of 336 g/t AgEq.
"Our resource drilling program has started off with significant high-grade silver results showcasing the mineral continuity of our 1 km-long high-grade Promontorio vein zone," stated Darrell Rader, President and CEO of Minaurum Gold. "Infill and step-out drilling continues at Promontorio, one of three core resource drilling targets for 2024. We anticipate testing the second target at Promontorio Sur vein zone next with step-out holes."
Promontorio and Promontorio Sur Vein Zones The 1 km-long Promontorio vein zone consists of multiple veins including the Veta Grande, Veta del 100, and Veta Las Guijas veins (Figure 2) (see Minaurum news release dated February 6, 2020). The individual veins are hosted in faulted volcanics, altered limestone, and intrusive rocks.
The West Promontorio vein zone is an underexplored vein zone located 100 m west of the Veta del 100 that was intersected in the 2024 drill program. The Promontorio Sur is the faulted-off, down-dropped, and underexplored southern extension of the Las Guijas vein.
The first 5 holes totaled 1,286 m (Table 1, Figure 2) and were drilled on two fences across the Promontorio vein zone. Holes AL24-105 and AL24-106 tested the newly discovered West Promontorio vein on one fence, and holes AL24-107, -108, and -109 tested the Veta del 100/Veta Grande portion of the Promontorio zone on another fence.
Prior to 2024, Minaurum drilled 29 holes totaling 9,258 m at Promontorio and Promontorio Sur. Minaurum's 2024 program includes infill drilling to establish 75 to 100 m spacings between vein intersections, as well as step-out drilling.
Table 1. Assay highlights to date, Promontorio infill drilling, 2024. Weight-averaged silver-equivalent grades are based on May 1, 2024, Kitco.com metal prices: Ag $26.90/oz, Au $2,303.00/oz, Cu $4.52/lb, Pb $1.09/lb, Zn $1.43/lb.
Hole
From (m)
To (m)
Interval (m)
Ag g/t
Au g/t
Cu %
Pb %
Zn %
AgEq g/t
Vein
AL24- 105
153.00
154.25
1.25
151
0.03
0.91
1.55
0.63
309
West Vein
including
153.00
153.80
0.80
189
0.04
1.26
1.86
0.85
401
183.35
184.05
0.70
2431
0.26
1.29
7.41
6.06
2976
AL24- 106
167.70
168.80
1.10
48
0.00
0.06
0.96
1.42
127
AL24- 107
134.80
135.00
0.20
130
0.77
0.50
2.22
8.18
576
Veta Grande/ Veta del 100
136.10
136.55
0.45
103
0.98
0.29
2.50
3.61
400
141.90
142.95
1.05
196
0.37
0.47
0.15
1.86
342
including
142.50
142.95
0.45
362
0.05
0.78
0.03
0.09
453
160.20
165.80
5.60
200
0.48
0.35
1.46
1.64
368
including
160.95
161.45
0.50
259
0.32
0.50
0.10
0.36
354
and
163.25
165.80
2.55
350
0.78
0.52
3.06
2.19
621
which includes
164.35
165.80
1.45
545
1.08
0.70
5.25
2.92
940
which includes
164.35
165.00
0.65
735
1.48
1.11
7.06
3.02
1256
AL24- 108
119.35
120.00
0.65
16
0.75
0.10
0.07
6.62
313
including
119.75
120.00
0.25
36
1.69
0.15
0.12
13.45
647
144.25
145.00
0.75
216
1.81
0.39
3.54
4.52
651
175.80
176.35
0.55
643
1.38
1.43
0.26
0.21
925
183.45
191.90
8.45
78
0.37
0.24
2.64
4.07
336
including
186.30
188.05
1.75
211
0.61
0.53
7.36
10.89
865
which includes
186.60
187.25
0.65
388
0.83
0.67
13.39
21.49
1580
AL24- 109
no significant values
Highlights of Minaurum's previous drilling at Promontorio include:
20.2 m of 455 g/t AgEq or 154 g/t Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn (Hole AL17-004)
3.8 m of 1,309 g/t AqEq or 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn incl. 0.95 m of 3,282 g/t AgEq or 1,566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn (Hole AL19-025)
7.6 m of 461 g/t AgEq or 266 g/t Ag, 0.27 g/t Au, 0.57% Cu, 1.60% Pb, 3.17% Zn, incl. 2.9 m of 1,204 g/t AgEq or 636 g/t Ag, 1.36% Cu, 3.9% Pb, 7.17% Zn (Hole 20-044)
3.1 m of 1,334 g/t AgEq or 1,197 g/t Ag, 1.38% Cu (Hole AL20-046)
3.7 m of 761 g/t AgEq or 528 g/t Ag, 0.83% Cu, 2.43% Pb, 1.47% Zn (Hole AL20-064)
5.1 m of 870 g/t AgEq or 769 g/t Ag, 0.76% Cu; incl. 3.1 m of 1,334 g/t AgEq or 1197 g/t Ag, 1.38% Cu (Hole AL20-046)
1.10 m of 1,186 g/t AgEq or 729 g/t Ag, 1.73 g/t Au, 0.13% Cu, 3.05% Pb and 5.73% Zn (Hole AL19-034)
Figure 1. Drill core photo of Hole AL24-105: 182.80 m – 185.10 m, intersected 1.25 m of 309 g/t AgEq including 0.70-m interval (183.35 – 184.05 m) that assayed 2,976 g/t Ag Equivalent or 2,431 g/t Ag, 0.266 g/t Au, 1.29% Cu, 7.41% Pb, and 6.06% Zn. Host rock is skarn-altered limestone.
Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is a Mexico-focused explorer concentrating on the high-grade 100% owned fully production permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier One precious and base metals projects.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader President and CEO
For more information, please contact: Sunny Pannu - Investor Relations and Corporate Development Manager (778) 330 0994 or via email at [email protected]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Data review and verification: Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person (QP) as defined by National Instrument 43-101, reviewed and verified the assay data, and has approved the disclosure in this News Release. Verification was done by visual inspection of core samples and comparison to assay results. Assay results have not been checked by re-analysis. No factors were identified that could materially affect the accuracy or reliability of the data presented in this news release.
Analytical Procedures and Quality Assurance/Quality Control: Preparation and assaying of drilling samples from Minaurum's Alamos project are done with strict adherence to a Quality Assurance/Quality Control (QA/QC) protocol. Core samples from the 2024 program are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed courier to ActLabs preparation facility in Zacatecas, Zacatecas, Mexico. ActLabs prepares the samples, crushing them to 70% less than 2mm, splitting off 250g, and pulverizing the split to more than 85% passing 75 microns. The resulting sample pulps are prepared in Zacatecas, and then shipped to Vancouver for chemical analysis by ActLabs. The pulps are analyzed for gold by fire assay and ICP/AES on a 50-gram charge. In addition, analyses are done for a 48-element suite using 4-acid digestion and ICP analysis. Samples with silver values greater than 100 g/t; and copper, lead, or zinc values greater than 10,000 ppm (1%) are re-analyzed using 4-acid digestion and atomic absorption spectrometry (AAS).
Quality-control (QC) samples are inserted in the sample stream every 20 samples, and thus represent 5% of the total samples. QC samples include standards, blanks, and duplicate samples. Standards are pulps that have been prepared by a third-party laboratory; they have gold, silver, and base-metal values that are established by an extensive analytical process in which several commercial labs (including ActLabs) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than 0.005 ppm gold; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half, and then quartered. The first quarter is the original sample, the second becomes the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.
When final assays are received, QC sample results are inspected for deviation from accepted values by the QP. To date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.
ActLabs is independent of Minaurum Gold and is independent of the Qualified Person.
Cautionary Note Regarding Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information.
Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
