Including 41.9 m of 2.21% Copper; 0.93 g/t Gold and 77.5 g/t Silver
Minaurum Gold Inc. ("Minaurum") is pleased to report that Ocean Park Ventures Corp ("Ocean Park") has released significant copper-gold-silver intercepts from the first two holes of their Phase 1 drilling program on Minaurum's Adelita Project (see Ocean Park news release dated May 3, 2012). Ocean Park's best hole (CGDD-12-009) cut 105.2 metres of 1.03% copper from 5.6 to 110.8 metres downhole, including 41.9 m of 2.21% copper, 0.93 g/t gold, and 77.5 g/t silver. Notably, this hole was lost in mineralization and assays are pending for the three subsequent holes drilled deeper in this area. The results extend the Cerro Grande zone to a strike length of 120 metres and to a depth of 300 metres from surface, with the discovery remaining open in all directions. Ocean Park can earn up to a 75% interest in the Adelita Project by completing and funding a feasibility study.
Table 1: Highlighted drill results of Adelita skarn drilling.
|Drill Hole||Interval From (m)||Interval To (m)||Interval Length (m)||Copper %||Gold g/t||Silver g/t||CuEq %||Comment|
"We are very pleased with these first results from Ocean Park's initial drill program at Adelita and look forward to reporting more results from the expanding Cerro Grande discovery and the as-yet untested Mezquital porphyry target as Ocean Park's exploration program continues," commented Darrell Rader, President and CEO of Minaurum.
The Adelita project hosts two main mineralized targets, the Cerro Grande copper-gold-silver skarn, and the Mezquital copper-gold-silver-molybdenum porphyry target. Ongoing Phase 1 drilling is currently testing the Mezquital porphyry target located 1.5 kilometres west of the Cerro Grande skarn. The Mezquital target is marked by a 3.5 square kilometre copper-molybdenum +/- gold-silver soil anomaly overlying a multi-phase intrusive body. The soil anomaly coincides with geophysical signatures including high chargeability IP and magnetic anomalies. Geologic mapping has identified propylitically altered intrusive rocks and copper mineralized quartz-tourmaline veins and stockwork veining across two kilometres of strike.
Minaurum has not reviewed the technical information and new data in Ocean Park's May 3, 2012 news release. Ocean Park reports that its exploration efforts are being conducted under the direct supervision of Chris Taylor, M.Sc. P.Geo, Ocean Park's Vice President of Exploration, and a Qualified Person as defined by NI 43-101. Mr. Taylor supervised the preparation of the above information.
Minaurum Gold is an exploration company focusing 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 will start during the first week of May at its Corazonada silver-zinc skarn project in Morelos state. Drill targets are being identified at its Vuelcos del Destino gold-skarn project on the Guerrero Gold Belt trend, with a view toward drilling during the second half of 2012. For more information, please visit our new 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 firstname.lastname@example.org
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
1500 - 409 Granville St.
Telephone 778 330-0994
Vancouver, BC V6C 1T2
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.