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Minaurum Gold Inc.
Summary
| Project: | Biricu | |
|---|---|---|
| Deposit: | Biricu | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 1/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-1-2017: Minaurum Gold Inc. announces an Exploration/Drilling Update report for its Biricu deposit at the Biricu project. JV with Guerrero Ventures - drilling results incl. 117.78m @ 191ppb Au. Minaurum Gold Inc. (“Minaurum”) is pleased to announce dril | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stephen R. Maynard (Internal) | |
| ABSTRACT: | Minaurum Gold Inc. (“Minaurum”) is pleased to announce drill results from Guerrero Ventures Inc.’s (“Guerrero”) 41,000 hectare Biricú project in the Guerrero Gold Belt in southern Mexico. Biricú shows typical Guerrero Gold Belt host rocks cut by intrusive rocks identical to those seen in Goldcorp’s neighbouring Los Filos Mine and Torex Gold’s nearby Media Luna deposit. It borders Minaurum’s Vuelcos del Destino project to the east and south. In addition, Guerrero has informed Minaurum that the required exploration expenditures and obligations of the underlying Biricú option agreement between Alamos Gold Inc. (“Alamos”) and Guerrero have been fulfilled and accepted by Alamos. Alamos is currently transferring a 100% interest in the Biricú project to Guerrero. As previously disclosed on November 4 and December 4, 2015, Minaurum loaned Guerrero funds to explore Biricú. Guerrero’s 4,200-m exploration drill program tested a combination of principal target areas (Punto Rojo and Hornfels Hill), and outlying geologic and geophysical targets. Four of the 9 holes drilled (GV2015-13 through -15, and -17) intercepted significant zones of anomalous gold mineralization (>100 ppb Au). All of the anomalous holes are located in the Punto Rojo area, a 1 square km diatreme complex that is intruded by diorite-granodiorite stocks of Guerrero Gold Belt affinity. The system remains open and untested to the north and at depth to the contact of the Mezcala Formation with the underlying Morelos Formation. Surface mapping and drilling indicate this highly prospective contact zone lies at shallower depths farther north in the Punto Rojo area. Results of the anomalous holes are shown in Table 1 below. | |
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