News Column

Minaurum Receives Report from Dr. James Franklin on the Santa Marta VMS Project

Jun 19 2013 12:00AM

Marketwire

LogoTracker

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/19/13 -- Minaurum Gold Inc. ("Minaurum") (TSX VENTURE: MGG) is pleased to announce the results of a review and report by Dr. James Franklin on its 100% controlled Santa Marta project in Oaxaca, Mexico. Dr. Franklin is a geologist with more than 40 years of research and exploration experience on both active and ancient volcanogenic massive sulfide ("VMS") systems along with numerous discoveries to his credit. Since his retirement as Chief Geoscientist of the Geological Survey of Canada he has been a consultant as well as an Adjunct Professor at Queen's University and at Laurentian and Ottawa Universities. Dr. Franklin is a Fellow of the Royal Society of Canada and is a past President of the Geological Association of Canada and of the Society of Economic Geologists.

Dr. Franklin visited the Santa Marta project and reviewed key outcrops and geological and geochemical data collected by Minaurum. The purpose of his review was to assess the prospectively of the project. In his report he concluded:

"Santa Marta appears to have all of the classic features of highly productive VMS systems, such as the semi-continuous deposit set at Flin Flon comprised of the Main Mine, Calinan and Triple 7. The stringer zone at Santa Marta has undergone slight oxidative weathering, and already has supported a small historic mining operation. The massive oxide zone appears to have been largely not explored; we saw evidence of only two drill holes, and there are no records of what these intersected."

Dr. Franklin's comments and observations may be summarized as follows:

1. The occurrence consists of two parts: 1) a major stringer zone of vein and disseminated copper capped by 2) a laterally extensive silica-oxide zone that is weathered massive sulfide mineralization. The silica-oxide zone forms a prominent ridge.2. The stringer zone is exposed both laterally and vertically for several hundred metres along strike, and extends into the footwall for at least 100m. The mineralization is copper rich, chlorite dominated, and has excellent potential to extend both along strike and to depth.3. The massive oxide-silica zone that overlies the stringer zone was traced for over 700m along strike. It appears to have an average thickness of about 75-100m.4. The massive oxide zone is comprised of about 60-80% goethite-hematite and 20-40% silica, with traces of chalcopyrite and pyrite casts.5. The silica and iron contents of the massive oxide zone are the expected result of oxidation of massive sulfide mineralization.



"We're excited to receive Dr. Franklin's review of the Santa Marta project," commented Darrell Rader, Minaurum's President and CEO. "His comments and recommendations will be incorporated into a 3000m drill program currently being permitted."

Minaurum Gold is focused on its projects in the Guerrero Gold Belt, Mexico as well as the Santa Marta Project. Surface work continues at the Vuelcos del Destino, El Porfido, and Jackie projects. For more information, please visit our website at www.minaurum.com and our You Tube Minaurum Video Channel http://www.youtube.com/user/minaurumgold.

Qualified Person: Mr. Stephen R Maynard, M.S., C.P.G., Vice-President Exploration of the Company and a qualified person as defined in National Instrument 43-101, approved the preparation of the technical information in this release.

ON BEHALF OF THE BOARD

Darrell A. Rader, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, including statements regarding the prospectiveness of the Santa Marta VMS Project and the Company's exploration plans 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 interpretations on which the statements are based are reasonable, accurate and complete and that the 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 that interpretations on which the statements are based may prove to be inaccurate, incomplete or to have been incorrectly interpreted and that results of exploration activities may be different than anticipated by management. 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.



Contacts:
Minaurum Gold Inc.
Sunny Pannu
Investor Relations Manager
(778) 330 0994
info@minaurum.com
www.minaurum.com





Source: Marketwire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters