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 March 08, 2010
Minaurum Announces Acquisition of Adelita Gold Project

 

Minaurum Gold Inc. (the "Company" or "Minaurum") announces that the Company has entered into an agreement with Minera Coplau, a subsidiary of Minera Cascabel S.A. de C.V., to acquire the Adelita Gold-Silver-Copper Skarn-Porphyry project in southern Sonora and adjacent Sinaloa states, Mexico. Adelita lies just 6 km east of Pan American Silver's (NASDAQ:PAAS) (TSX:PAA) Alamo Dorado Mine. Minera Cascabel recognized that high-grade mineral showings and widespread anomalous geochemistry on the property indicate excellent potential for additional discoveries in this demonstrably mineralized, but as-yet undrilled region. Minaurum can acquire a 100% interest in the Project by making staged payments totaling 925,000 common shares and US$540,000 over three years.

"Minaurum is very pleased to acquire this underexplored high-grade skarn-porphyry property from one of the premier project generating groups in Mexico" stated Darrell Rader, Minaurum Gold's President and CEO. "We can see Pan American's operations from the property and have the benefit of all the geologic advancement and infrastructure improvements their operations have brought to the area".

The geologic setting of the Adelita project is broadly similar to that of Pan American Silver's nearby Alamo Dorado open-pit silver mine (proven and probable 10 mt of 95 g/t Ag and 0.33 g/t Au) and the Piedras Verdes Porphyry Copper deposit (proven and probable 194 mt of 0.36% Cu, at $1.65/lb Cu), about 60 km to the northwest. A high-grade Cu-Au-Ag skarn target (the Adelita skarn prospect) has been identified on the property. Widespread stream-sediment geochemical anomalies and altered intrusive rocks suggest potential for a buried Porphyry Copper system.

The exploration plan for the next 4-6 months includes: 1) a first-phase diamond drill program on the main Adelita Cu-Au-Ag skarn zone, 2) completion of reconnaissance geologic mapping and stream-sediment and rock sampling over the entire project, 3) detailed geologic mapping in areas of interest, 4) grid soil sampling over identified target areas, 5) an airborne magnetic and electro-magnetic geophysical survey over the entire concession block, and 6) generation of additional drill targets based on the mapping, sampling, and geophysical survey.

The Adelita skarn saw minor exploitation and prior to its acquisition by Minera Cascabel in 1998. Cascabel's rock-chip sampling of the Adelita skarn target in 1998 revealed a mineralized structural zone 600 metres long by 18 metres wide. Highlights of sample lines from the 1998 program are presented in Table 1. An adit in the approximate center of the Adelita mineralized zone was sampled by Minaurum. Analyses of the adit samples, presented in Table 2, confirm grades reported during the 1998 Cascabel program. Reconnaissance stream-sediment sampling by Minaurum has returned values up to 126 ppm Cu, 27 ppm Mo, 409 ppb Au, and 174 ppm Zn over a broad area of the concession block.

Minaurum is a gold and silver explorer focusing on the acquisition and development of economic precious metals deposits in Mexico. Minaurum is currently advancing the Capilla and Aurena Projects.

Quality Assurance and Control: The Company has in place a quality control program to ensure best practices in sampling and analysis. Samples presented in Table 2 were collected by employees of the consulting firm Minera Cascabel S.A. de C.V. on behalf of Minaurum Gold. The surface rock samples are shipped directly in sealed bags to ALS-Chemex Laboratories preparation facilities in Hermosillo, Sonora, Mexico (Certification ISO 9001). Sample pulps are shipped from there to ALS-Chemex Laboratories in North Vancouver, BC, Canada for analysis.

Qualified Person: Mr Stephen R Maynard, M.S., C.P.G., has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release.

ON BEHALF OF THE BOARD

"Darrell A. Rader"

Darrell A. Rader

President and CEO

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward Looking Statement: Some of the statements contained in this press release are forward-looking statements. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including, but not exclusively, statements regarding potential mineralization, exploration results, completion of work program and studies, and future plans and objectives of the Company. 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 (OOTC:MALRF) but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.

Table 1. Tabulated results of selected sample lines from 1998 Cascabel sampling program, Adelita prospect. Source is internal Minera Cascabel report on Adelita property, 1998.
Line                         Sample             Width (m)   Au (ppb)      Ag (ppm)    Cu %        
T-04                         993                5.3         365           38          0.63        
T-04                         992                4.9         385           52          0.68        
T-04                         991                5.5         140           3           0.35        
T-04                         990                5.0         20            3           0.07        
T-04                         989                3.6         2             1           0.03        
T-04                         988                5.5         2450          128         2.80        
T-04                         987                5.6         1275          85          2.50        
T-04                         986                4.8         1355          73          2.23        
T-04                         982                5.2         3610          37          0.99        
T-04                         45.4 m averaging               1114 ppb Au   49 ppm Ag   1.20% Cu    
Including 21.1 m averaging                                  2175 ppb Au   82 ppm Ag   2.14 % Cu   
                                                                                                  
Line                         Sample             Width (m)   Au (ppb)      Ag (ppm)    Cu %        
T-05                         960                5.3         346           28          0.73        
T-05                         959                5.3         855           45          0.75        
T-05                         954                4.8         580           72          1.62        
T-05                         955                4.8         850           100         2.13        
T-05                         956                5.1         370           13          1.69        
T-05                         957                5.1         1845          2           2.59        
T-05                         958                5.4         385           4           0.43        
T-05                         35.8 m averaging               744 ppb Au    36 ppm Ag   1.40 % Cu   
                                                                                                  
Line                         Sample             Width (m)   Au (ppb)      Ag (ppm)    Cu %        
T-06                         951                5.1         3290          155         3.85        
T-06                         950                5.4         1040          35          1.26        
T-06                         10.5 m averaging               2133 ppb Au   93 ppm Ag   2.52 % Cu   
                                                                                                  
Line                         Sample             Width (m)   Au (ppb)      Ag (ppm)    Cu %        
T-10                         924                6.2         1000          132         1.55        
T-10                         925                5.1         5             1           0.01        
T-10                         926                5.3         295           43          0.40        
T-10                         16.6 m averaging               469 ppb Au    63 ppm Ag   0.71 % Cu   


Table 2. Tabulated results of Minaurum channel sampling of the Adelita adit, selected elements reported.


Sample   Au (ppb)   Ag (ppm)   Cu %   
101606   105        6          0.22   
101607   447        64         1.35   
101609   505        66         1.69   
101611   931        82         1.96   
101612   201        40         1.00   
101613   216        48         0.50   
101614   578        92         1.84   
101615   2600       174        3.91   
101616   38         3          0.12   
101617   198        25         0.43   
101618   610        66         0.99   
101619   848        55         1.12   
101620   156        1          0.42   
101621   106        16         0.30   
101622   298        11         0.64   
101623   406        4          1.01   
101624   259        3          0.40   
101625   477        52         0.91
 
 

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