Minaurum Gold Inc. (“Minaurum”) is pleased to report that Ocean Park Ventures Corp (“Ocean Park”) has released significant additional copper- silver intercepts from the third and fourth holes of their Phase 1 drilling program on Minaurum’s Adelita Project. (see Ocean Park news release dated May 31, 2012) Drill hole (CGDD12-012) cut 201.4 metres of 0.52% Copper from 27 to 228.4 metres downhole, including 69.3 m of 1.28% Copper; 0.36 g/t Gold and 32.6 g/t Silver.
Strong copper — gold — silver mineralization has been drill confirmed at the Cerro Grande skarn, from surface to a depth of greater than 300 vertical metres, and remains open for extension in all directions. The number of mineralized zones and the width of the of the skarn system increases at depth.
Ocean Park 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).
Table 1: Highlighted drill results of Adelita skarn drilling
|Drill Hole||Interval From (m)||Interval |
|Interval Length (m)||Copper |
Drill hole CGDD-12-012 was drilled at an oblique angle to the mineralized zone. Estimated true width of the discovery is between 30 and 60 metres. Drill hole CCGDD-12-012 tested the down-dip projection of previously reported mineralization in drill hole CGDD-12-009, which returned 105.2 metres of 1.03% copper, 0.45 g/t gold, and 36.3 g/t silver (see Minaurum news release dated May 3rd, 2012).
“We are very pleased with the strong intervals of mineralization being returned from the Cerro Grande Skarn target at the Adelita project. We look forward to reporting more results as Ocean Park commences drilling on the nearby Mezquital porphyry target,” commented Darrell Rader, President and CEO of Minaurum.
Drilling has commenced at the Mezquital porphyry target, two kilometres west of Cerro Grande. Porphyry style stockworks, mineralization and alteration consistent with a calc-alkaline porphyry system have been intercepted in the three drill holes completed to date. The drill holes are collared along one kilometre strike of the system. Drilling has intersected zoned propylitic, phyllic and potassic alteration including molybdenum mineralization. Copper mineralization was intersected in the most recent drill hole within quartz-pyrite-magnetite-chalcopyrite veining drilled on the flanks of a strong chargeability high discovered by ground-based Induced Polarization (IP) geophysical surveying.
Results suggest the Mezquital target is underlain by a large copper-molybdenum porphyry system spread across a prospective surface area in excess of fifteen square kilometres. The interpreted core of the system appears to be marked by strong potassic alteration, as defined on surface, flanked by a strong chargeability halo measuring at least 2 kilometres by 3 kilometres. The Cerro Grande Skarn discovery is on the eastern flank of the Mezquital porphyry target. Pan American Silver Corp.’s (TSX: PAA) open pit Alamo Dorado silver mine, currently in production, is located 2 kilometres to the west of the Mezquital target.
Minaurum has not reviewed the technical information and new data reported today which was taken from the May 31, 2012 news release of Ocean Park. 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 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 the 15 million oz Guerrero Gold Belt. Drilling is currently ongoing at the Adelita and Corazonada Silver-Zinc 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 protected]
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.