Minnova Corp. Announces up to 18.89 G/T GOLD from Selected Samples of Historic Underground MINE Stockpiles at the LA Esperanza Property IN PERU
MINNOVA CORP. ANNOUNCES UP TO 18.89 G/T GOLD
FROM SELECTED SAMPLES OF HISTORIC UNDERGROUND
MINE STOCKPILES AT THE LA ESPERANZA PROPERTY IN
PERU
September 9, 201 9, Toronto, Ontario – Minnova Corp. (TSXV: M CI) ( "Minnova” o r the
“Company”) is please to announce high grade gold assays from historical underground mine
stockpiles from the Poderosa Vein on its La Esperanza discovery-stage project in Peru.
During a recent site visit to prepare for a fall exploration and bulk sampling program on the La
Esperanza vein our technical team re -visited the mine adit accessing the P oderosa vein to
evaluate underground mine conditions. During the site visit two historic mine stockpiles located
at the opening of the Poderosa vein mine adit were sampled. Both stockpiles exhibited visible
sulphide mineralization and quartz veining/silicification typically associated with gold
mineralization previously reported on the La Esperanza property. I n addition, a wooden chute
used to dump mined material into trucks for transport to nearby mills was noted to contain a
significant volume of historical mined material from the Poderosa vein and this was also sampled.
In total approximately 300 kilograms from the two stockpiles and the wooden chute were
sampled to provide reference samples prior to sending the stockpile’s and mine chute material
to a toll mill as part of a bulk sample program . Pictures of the stockpiles and mine chute can be
accessed on by clicking the following link: https://player.vimeo.com/video/358904819
Table 1: Selected reference samples of planned bulk samples from the Poderosa Vein stockpiles
and mine chute
Sample No. Location Sample Sample
Weight
(kg)
Au gpt
CM-388979 Poderosa Vein - Stockpile #1 Reference sample 200 11.34
CM-388981 Poderosa Vein - Stockpile #2 Reference sample 50 9.09
CM-388980 Poderosa Vein - Mine Chute Reference sample 30 18.89
Gold grades of these reference samples are considerably higher than previous underground chip
and grab samples results taken by Minnova personnel in summer 2018. All of the large grab
samples are selected samples and are not necessarily representative of the mineralization hosted
on the property.
Gorden Glenn, President and CEO of Minnova commented: “The high gold grade results obtained
from the Poderosa vein stockpiles and mine chute are an ex citing development for the La
Esperanza Property. Whereas initial field work and sample results from the Poderosa vein had
caused us to focus on the rapid evaluation and development of the La Esperanza vein these
reference sample results support re-prioritizing the Poderosa vein and including it in our planned
bulk sampling program. The Poderosa vein already has 206 meters of underground development
on 3 levels which are all readily accessible. An initial work program consisting of detailed surface
and underground mapping and bulk sampling can be initiated quickly with shipment of bulk
samples of gold and silver mineralized material for processing at the near by Inkarri Mill.” See
Additional Disclosure below.
The La Esperanza property is a discovery-stage property hosting two veins (La Esperanza and
Poderosa) which have been traced over 2.2 kilometres and remain open on strike. Both veins
exhibit historical small-scale mining dating back to the Spanish er a and both veins exhibit high
gold grades. Neither vein has been subjected to modern exploration techniques of detailed
mapping, sampling, geophysics and drilling to determine their resource potential. Minnova
intends to advance the project along a dual track of modern exploration and small-scale
development and bulk sampling from existing underground workings and surface trenching. Bulk
samples will be processed at a local toll mill to collect data on gold distribution and metallurgical
characteristics. Proceeds from the sale of bulk samples will be re-invested in the project.
In addition to the positive assay results we are pleased to report that the consultants engaged to
file our exploration permit completed their site visit in August and are in process of completing
reports required as part of the permitting process. Once the permits are in place, we will be able
to scale up our exploration and development work on the property which will include up to 1000
m of diamond drilling, mapping and trenching.
QA/QC
All reference samples were bagged in rice bags which were labeled, tagged, documented and
sealed. The reference samples were transported directly to Labratorio Quimico & Metalurgico
the Inkarri mill preparation lab and individually crushed, mixed and quartered under supervision
of Minnova personnel. Receipt of the samples was signed off at the preparation lab and w as
tracked by the Company. Pulps of each sample were prepared and followed by fire assay and
gravimetric analysis, if required , at Analytica Mineral Services S .A.C., Chala, Peru . A QA/QC
program including the regular insertion by the Company of duplicates, blanks and standards is in
place.
Additional Disclosure – Cautionary Language
Minnova has not made a production decision on the La Esperanza property. The La Esperanza
property has not been subject to any modern exploration (e.g. mapping, sampling and drilling)
and as such does not host a NI 43-101 compliant resource. The property occurs in the Chala
mining district of southern Peru, which hosts numerous active small mining operations and toll
mills. The property itself exhibits significant historical mining activity consisting of over 15 adits
and surface pits and well over 200 m etres of underground development including open,
historically mined stopes dating back to the Spanish era. Minnova’s work program benefits from
the historical mine infrastructure . A program of detailed underground and surface mapping ,
underground and surface drilling and bulk samples has been proposed for the Poderosa and La
Esperanza veins evaluate their potential to host a resource. At this time the Company has not
demonstrated the economic and technical viability and there can be no assurance our proposed
program will be successful.
Qualified Person
Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Company and a “Qualified Person” under
National Instrument 43-101, has reviewed and approved the scientific and technical information
in this press release.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or
Visit our website at www. minnovacorp.ca
Forward Looking Statements
This news release contains "forward -looking information" within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, information regarding the Comp any including management’s
assessment of future plans and operations, that may involve risks associated with mining exploration and development, volatility
of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting ri sks, access to labour and
services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may dif fer
materially from those anticipated in the forward looking statements. A feasibility study has not been completed and there is no
certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. Although Minn ova
has attempted to identify important factors that could cause actual results to differ materially fro m those contained in forward-
looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place undue reliance on forward -looking information. Minnova
does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.