Minaurum Gold Inc. ("Minaurum") is pleased to announce that it has entered into a formal access agreement with the community of Huitziltepec at its Vuelcos del Destino Project that allows Minaurum to acquire federal drill permits.
The project consists of a single mining concession that covers 8,831 hectares in the southeastern portion of theGuerrero Gold Belt (“GGB”) in Guerrero state in southern Mexico. Geological features at Vuelcos del Destino are similar to those of Goldcorp’s nearby Los Filos Mine, the principle exploration target being a 12 km square porphyry stock complex which represents the largest undrilled intrusive complex in the GGB. This exploration target was identified by Minaurum’s Senior Geologist and Director David Jones, the discoverer of the Los Filos deposit and a principle involved with Teck’s acquisition of what is now Torex Gold’s Morelos Project.
“When Minaurum entered the Guerrero Gold Belt through the 2010 option of the Vuelcos Del Destino project, the belt hosted approximately 10 million ounces of Gold and we were the only significant claim holder to the southeast of Los Filos. Today the belt hosts over 31 million ounces of gold and GGB style mineralization has been found in drilling to both the NW and SE of our project,” stated Darrell Rader, President and CEO of Minaurum. “With community access in place we expect to start a first-phase drill program at Vuelcos during the second quarter employing a drill program designed by David Jones who has a successful track record of discoveries in the GGB.”
The Huitziltepec community lands covered by the agreement encompass three targets that coincide with a 3 x 4 km granodiorite porphyry stock complex that is typical of Guerrero Gold Belt intrusions. Alteration and structural features within the stock are identical in nature to those seen in the Los Filos deposit. Stream-sediment geochemical anomalies coincide with the stock outline and with geophysical targets delineated an airborne survey. Target identification is based on the results of reconnaissance geological mapping, stream-sediment sampling and a property-wide airborne Variable Time-Domain Electromagnetic (VTEM) and magnetic survey.
Minaurum expects to receive permits for a planned minimum 7,500m drill program from the Mexican federal environmental authority (SEMARNAT) early in the second quarter of 2015.
Minaurum Gold is a gold-copper explorer focused on its Vuelcos del Destino project in the Guerrero Gold Belt, Mexico. For more information, please visit our website at www.minaurum.com and our YouTube Minaurum Video Channel at (http://www.youtube.com/user/minaurumgold).
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]
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the intended use of proceeds, constitute forward-looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum’ s current beliefs as well as assumptions made by and information currently available to Minaurum, including that the Minaurum is able to obtain any required government or other regulatory approvals, equipment and personell for its planned operations and that actual results of exploration activities will be consistent with management’s expectations. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including actual results of Minaurum’s operations being different than those expected by management and delays in obtaining or failure to obtain required government or other regulatory approvals, equipment, personnel or financing. Readers are cautioned not to place undue reliance on forward-looking statements. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.