Minaurum Gold Inc. (“Minaurum”) is pleased to announce that Ocean Park Ventures Corp. (“Ocean Park”) has begun a Phase 1, 2500 metre diamond drilling program at the Adelita project, southern Sonora, Mexico. The Adelita project hosts skarn mineralization with strong copper, gold and silver values, flanking a 10 square kilometre copper, gold, silver and molybdenum-in-soil anomaly which has a porphyry signature.
Ocean Park can earn up to a 75% interest in the Adelita project through its joint venture with Minaurum. Adelita lies 6 kilometres east of Pan American Silver Corp.’s (TSX: PAA) open pit Alamo Dorado silver mine.The geologic setting is broadly similar to that of Alamo Dorado (proven and probable reserves of 10 Mt of 95 g/t silver and 0.33 g/t gold) and the Piedras Verdes Porphyry Copper deposit of Frontera Copper Corp. (proven and probable reserves of greater than 500 Mt of greater than 0.36% copper), located 60 kilometres to the northwest.
Minaurum drilled the copper-gold-silver skarn target in 2010. Highlights include diamond drill holes CGDD-10-001, which returned16.15 metres of 1.97% copper, 0.84 g/t gold and 73 g/t silver, andCGDD-10-002 which returned 47.64 metres of 0.98% copper, 0.46 g/t gold and 46 g/t silver (see Minaurum news release dated October 6 2010)
A ground-based Induced Polarization (IP) geophysical survey completed by Ocean Park in late 2011 has discovered strong conductivity and resistivity anomalies across more than three kilometres of strike underlying the core of the main polymetallic soil anomaly. These results are consistent with a broad altered and mineralized system. Property-wide sampling and mapping of altered intrusive rocks suggests the mineralization is likely porphyry-associated.
Minaurum Gold is an exploration company focusing on gold and silver dominant projects in Mexico that have “district-scale” exploration potential. In addition to exploringits four projects in and near the 15 million ounce Guerrero Gold Belt, Minaurumhas recently completed a 1400-metre drilling program at its Capillaepithermal silver project in Sinaloa state, and is advancing its Santa Marta volcanogenic massive sulfide project and its flagship Aurenagold-skarnproject in Oaxaca.
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
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Quality Assurance/Quality Control: Preparation and assaying of drilling samples from Minaurum’s Aurena project are done with strict adherence to a Quality Assurance/Quality Control (QA/QC) protocol. Core samples are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed courier to ALS Minerals’ preparation facility in Guadalajara, Jalisco, Mexico. Pulps of the samples are prepared in Guadalajara, from where they are shipped to Vancouver for chemical analysis by ALS Minerals. Samples are analyzed for gold by fire assay and ICP/AES on a 50-gram charge. In addition, analyses are done for a 51-element suite using aqua regia digestion and ICP analysis.
Quality-control (QC) samples are inserted in the sample stream every 20 samples, and thus represent 5% of the total samples. QC samples include standards, blanks, and duplicate samples. Standards are pulps that have been prepared by a third-party laboratory; they have gold values that are established by an extensive analytical process in which several commercial labs (including ALS Minerals) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than 0.005 ppm gold; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half, and then quartered. The first quarter is the original sample, the second becomes the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.
When final assays are received, QC sample results are inspected for deviation from accepted values. To date, QC sample analytical results have fallen in acceptable ranges on the Aurena project.
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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