|September 09, 2010|
Minaurum Announces Acquisition of Jackie Gold Project, Mexico
|Minaurum Gold Inc. (the "Company" or "Minaurum") announces that the Company has entered into an agreement with Minera Mariposa S.A. to acquire a 100% interest in the 5,025 hectare Jackie Gold project located in Guerrero State, Mexico. The project is located 65 km north-northeast of Goldcorp's 9 million ounce Los Filos Gold Mine which is part of the 15 million ounce Guerrero Gold Belt. The project also lies 25 km east-southeast of the Taxco silver district and 40 km south-southwest of Esperanza's million ounce Cerro Jumil Gold discovery. |
David M. Jones, principal of Minera Mariposa and the geologist credited with discovery of the Los Filos deposit, identified the Jackie Project by recognizing numerous geological similarities to deposits of the Guerrero Gold Belt including Morelos Formation carbonate host rocks, strongly porphyritic granodiorite to quartz monzonite intrusions, and extensive skarn alteration.
For 2010, the Company plans a program of reconnaissance geologic mapping and geochemical sampling and an airborne geophysical survey at Jackie, followed by detailed mapping and sampling in prospective areas. Drilling is planned for 2011.
Historically prospected polymetallic quartz veins crosscut the porphyry stock and carry up to 1.2 grams per tonne (g/t) Au, 1210 g/t Ag, 1.97% Zn and 0.96% Pb. Reconnaissance sampling of retrograde iron oxides, silica, and clay-sericite alteration in rocks surrounding the stock reported Au values in the range of 20 to 340 ppb.
Extensive areas of heavily iron-oxide stained soils are suggestive of well developed retrograde exoskarn alteration that constitutes the primary exploration target. The widespread nature of such alteration at Jackie suggests shallow depths to the contact where mineralization may be encountered. Extensive exoskarn in the southern part of the property indicates another exploration target. Access to the Jackie project is excellent via the Cuernavaca-Iguala highway, which bisects the property.
Minaurum can acquire 100% of the Jackie Project by making staged payments totaling $350,000 and 850,000 common shares over three years. "We are excited by this opportunity to expand our exploration portfolio of gold projects and further cement our relationship with David Jones, a recognized expert on Guerrero Gold Belt gold skarn deposits" stated Darrell Rader, Minaurum Gold's President and CEO.
Minaurum Gold is a gold and silver explorer focusing on the acquisition and development of precious metals deposits in Mexico. The Company is currently advancing the Adelita, Aurena, Capilla, Vuelcos del Destino and Jackie Gold properties. These properties have been optioned from some of the most successful project generators in Mexico; David M. Jones and Dr. Peter K.M. Megaw with his associates in IMDEX Inc. and Minera Cascabel. Drilling is currently underway at Adelita in southern Sonora Sate.
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 Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
1500 - 409 Granville St.
Vancouver, BC V6C 1T2
Telephone 778 330-0994
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 but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.
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