|August 28, 2012|
Adelita Gold-Copper Project Expanded, New Skarn Zone Discovered
|Minaurum Gold Inc. ("Minaurum") is pleased to report that Ocean Park Ventures Corp ("Ocean Park") has successfully expanded Adelita to 12,350 hectares and discovered a new skarn zone. (see Ocean Park News Release dated August 28, 2012)|
Mapping by Ocean Park has discovered mineralized skarn on the new claim with copper mineralization that is visually similar to that drilled at Cerro Grande. Assay results from this new skarn, the "Andalucia" zone, are pending. At this time, the skarn has been exposed in a series of trenches across 75 metres of strike in an area of limited bedrock exposure. As at Cerro Grande, the skarn is developed at the contact between the same granodiorite intrusion to the east and metasediments and metavolcanics to the west, with a strong structural control. The new zone is 2.5 kilometres south of previous drilling and indicates the mineralized intrusive-sediment contact has multi-kilometre, multi-zone potential.
Previous exploration work on the recently added "Colinas 2" claim includes a 1,264-metre, five-hole test drill program completed in 2005 by Minera Kennecott SA de CV, a wholly-owned subsidiary of Rio Tinto plc (NYSE: RIO), and an 89-sample soil survey completed by Minaurum in 2010. Results extended the copper, gold, silver and molybdenum-in-soil anomaly drilled by Ocean Park at the Mezquital porphyry target by two square kilometres and also identified anomalous molybdenum, copper, zinc, arsenic, antimony and tungsten in drill core at the Las Trancas copper oxide showing. Highlights of the historic drilling include 148 metres of 0.10% zinc, including 16 metres of 0.30% copper and 77 metres of 100 ppm (0.01%) molybdenum in drill hole 05RCLT-01.
"We are very pleased with the consolidation of the land package at Adelita and the new discovery at Andalucia. We look forward to further results as exploration by Ocean Park continues, commented Darrell Rader, President and CEO of Minaurum.
Ocean Park can earn a 51% interest in the Adelita project by incurring cumulative expenditures of US$1,425,000, Ocean Park issuing common shares and cash payments to Minaurum by December 31, 2012. They can earn up to a 75% interest in the Adelita Project by completing and funding a feasibility study. (see Minaurum News Release dated February 15, 2011).
Minaurum Gold is focused on gold- and silver-dominant projects in Mexico that have "district-scale" exploration potential. Minaurum is currently focusing its exploration efforts in and near the 15 million-ounce Guerrero Gold Belt. Drilling was recently completed at its Corazonada silver-zinc skarn project in Morelos state, assays are pending. Drill permitting is ongoing at both Vuelcos del Destino and the Santa Marta Gold-Copper project. For more information, please visit our website at www.minaurum.com and our You Tube Minaurum Video Channel.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu -- Investor Relations Manager
(778) 330 0994 or via email at email@example.com
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.
You can view the Next News Releases item: Thu Sep 20, 2012, Multiple Copper-Gold-Silver Skarn Zones Discovered at Adelita Project
You can view the Previous News Releases item: Thu May 31, 2012, Drilling Intersects 201 metres of 0.52% Copper at the Adelita Project, Mexico
You can return to the main News Releases page, or press the Back button on your browser.