2013-02-19 22:17:45 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/19/13 -- Minaurum Gold Inc. (TSX VENTURE:MGG) ("Minaurum") is pleased to announce the identification of two new targets at its 100%-controlled El Porfido gold-skarn/porphyry project. The 4,666-hectare project lies within 90 kilometers of the prolific Guerrero Gold Belt in the southwestern part of the Mexican state of Puebla. The property was staked by David M. Jones, who was responsible for the discovery of the Los Filos mine in the Guerrero Gold Belt, presently operated by Goldcorp.
The targets are based on geologic mapping and sampling and anomalies identified by an airborne VTEM/magnetic survey. The first target centres on a 2-km diameter altered porphyry stock that shows iron-skarn alteration of the limestone and gypsum wall rocks around its contacts. The second target is a WNW-ESE trending zone of stockwork quartz veining and skarn alteration in limestone lying 4.5 km south of the stock. The southern zone has an overall strike length of 7 kilometers. Both targets display geochemical anomalies associated with Guerrero Gold Belt pathfinder elements, and associated magnetic anomalies.
"We are very pleased with the size and scope of the targets discovered by our geological team. The geological similarities to the nearby major Guerrero Gold Belt deposits are very encouraging," stated Darrell Rader, President and CEO of Minaurum. "Bringing these targets forward to drill-readiness is one of the major priorities of our 2013 Exploration Program."
The Porfido porphyry granite stock intrudes limestones of the Morelos Formation, the same host rocks as the Guerrero Gold Belt, as well as tertiary gypsum of the Cuayuca Formation. Hematite skarn is extensively developed in these wall rocks at El Porfido. Minaurum's airborne VTEM/magnetic data shows a strong northeast-southwest-trending magnetic high extending several hundred meters beyond the stock's exposed contact. A lower-amplitude magnetic anomaly, suggesting a magnetite-bearing intrusion, extends from a short distance south of the stock outcrops for more than 5 km to the south-southeast and intersecting the second target zone. These magnetic anomalies are similar to those associated with several of the major Guerrero Gold Belt gold deposits.
Geological mapping and sampling has discovered several areas of stockwork quartz veining and skarn alteration with anomalous pathfinder geochemical results. Minaurum has collected 134 stream-sediment samples, 219 rock samples, and 67 soil samples within and around the target areas and many are strongly anomalous in gold, silver, bismuth, arsenic, antimony, copper, molybdenum, zinc and barium; the principal pathfinder elements for Guerrero Gold Belt deposits.
Stream-sediment samples show strong anomalies as high as 96 parts per billion (ppb) gold and 4 parts per million (ppm) silver. Prior rock sampling reported values as high as 1.82 ppm gold from quartz-pyrite-tourmaline breccia on the stock's margin. Recent detailed sampling by Minaurum across the altered porphyry stock shows consistently anomalous gold values (10-100's ppb) including up to 301 ppb.
Minaurum Gold is primarily focused on its projects in the Guerrero Gold Belt, Mexico. Surface work continues at the Vuelcos del Destino, El Porfido, and Jackie Projects. For more information, please visit our website at www.minaurum.com : www.minaurum.com and our YouTube Minaurum Video Channel: www.youtube.com/user/minaurumgold
. : www.youtube.com/user/minaurumgold
Qualified Person: Mr. Stephen R Maynard, M.S., C.P.G., is a qualified person as defined in National Instrument 43-101 and supervised the preparation of the technical information in this release.
ON BEHALF OF THE BOARD
Darrell A. Rader, President and CEO
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the drilling results and geological interpretations and exploration plans for the Adelita project constitute forward-looking information. In making the forward-looking statements 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, including that drilling results will be received as expected, that financing will be available if and when needed on reasonable terms, that supplies, equipment, personnel, permits and approvals required to conduct Minaurum' s planned exploration activities will be available on reasonable terms, that results of exploration activities will be consistent with management's expectations and that Minaurum will not experience any material accident, labour dispute, or failure of equipment. 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 statements 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 statements. Such risk factors may include, among others, risk that drilling results will not be received as expected, actual results of exploration activities will be different than anticipated, that cost of labour, equipment or materials will increase more than expected, risk of accidents, labour disputes and other risks generally associated with mineral exploration and unanticipated delays in obtaining or failure to obtain required approvals or financing. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Minaurum Gold Inc.
Investor Relations Manager
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