Minaurum Acquires High-Grade Aurifero Gold Project
NEWS RELEASE
MINAURUM GOLD INC.
FOR RELEASE: January 29, 2020 TRADING SYMBOL TSX.V:MGG
(MGG 2020 – NR #2)
Minaurum Acquires High-Grade Aurifero Gold Project
Minaurum Gold Inc., (“Minaurum”) is pleased to announce that through a series of acquisitions
and the signing of an option agreement, it has expanded its presence in the Alamos Mining District
in Sonora, Mexico by acquiring control of the Aurifero Gold Project. The 1,229-hectare project
lies 35 km northwest of Minaurum’s Alamos Silver Project. Located between both projects is
Mexico’s third largest copper mine, Cobre Del Mayo’s Piedras Verdes mine.
Aurífero contains a swarm of gold- and silver-bearing epithermal veins within a NW/SE-trending
zone measuring 3 km long and more than 400 m wide. Satellite imagery and ground reconnaissance
geology indicate that the alteration signature is similarly widespread. The project has seen
numerous campaigns of shallow reverse circulation and core drilling since the 1980s totaling over
8,000 metres. Holes were on average less than 100 m deep; the deepest reaching a vertical depth
of 135 m from surface. There are currently a number of operators conducting small-scale mining
on the project. Under the option agreement, the miners are restricted to a maximum mining depth
of 100 m.
Highlights of historic drilling include: (See Table 1.)
• 3.1 m of 18.37 g/t Au (Hole DMDDH-01)
• 24.5 m of 3.12 g/t Au (Hole 07-MN-10)
• 48 m of 1.47 g/t Au (Hole CI-35)
• 58 m 3.65 g/t Au (Hole CI-09)
• 24 m of 2.42 g/t Au (Hole CI-34)
“We are pleased to add this high -grade project to our portfolio, ” stated Darrell Rader,
President and CEO of Minaurum Gold. “Historical data shows that the project has never been
drilled deeper than 135 m and some of the deepest holes stopped in mineralization. Our due
diligence found evidence that past exploration and current mining targeted only the highest
levels of a substantial epithermal gold and silver system . We will permit and drill several
deep holes in 2020 to test our geological model.”
Table 1. Historical drilling highlights, Aurífero project. Minera Terrazas and Pershimco performed diamond (core)
drilling; Peñoles used a reverse-circulation drill.
Company Hole From (m) To (m) Interval (m) Ag (g/t) Au (g/t)
Peñoles
CI-09 40.00 98.00 58.00 3.65
CI-22 6.00 48.00 42.00 1.7
CI-34 54.00 78.00 24.00 2.42
CI-35 36.00 84.00 48.00 1.47
Minera
Terrazas
DMDDH-01
85.65 93.25 7.60 5 7.97
including
90.15 93.25 3.10 8 18.37
NDDH-02
3.35 6.50 3.15 28 1.25
8.50 23.65 15.15 14 0.92
32.55 35.55 3.00 2 0.99
NDDH-07 17.90 22.25 4.35 57 2.56
70.15 94.55 24.40 5 0.67
SFDDH-01 54.00 62.00 8.00 1 1.79
76.70 82.70 6.00 2 2.48
Pershimco
07-MN-02
82.00 93.80 11.80 3.7 2.9
98.00 101.00 3.00 11.4 3.68
140.00 143.00 3.00 39 1.86
151.90 159.00 7.10 3.3 2.15
07-MN-03 146.00 149.00 3.00 10.15 2.94
07-MN-04 141.90 143.40 1.50 2.8 2.35
07-MN-07 42.20 44.80 2.60 158 trace
07-MN-09 47.70 53.90 6.20 26.2 2.24
61.00 63.40 2.40 86.3 3.7
07-MN-10
51.70 76.20 24.50 43.8 3.12
including
52.50 53.50 1.00 273.5 26.07
and
60.00 61.20 1.20 63.6 9.56
and
69.80 70.80 1.00 189.5 6.98
A NW-SE trend of structurally controlled ridges and valleys extending from northwest of Aurífero
project to the east-southeast of the Piedras Verdes porphyry copper deposit . Gold mineralization
in the Aurífero project area is associated with NW -SE fracture zones, veins, and rhyolite dikes ,
cutting intermediate to felsic tuffs . Quartz-eye rhyolite dikes and strong argillic alteration in a
number of the shallow underground work ings suggest that mining has been limited to the
uppermost levels of a mineralized epithermal system . Aurifero mineralization appears to be
spatially and temporally related to the emplacement of fine -grained felsic intrusions (dikes and
small stocks), the nature and extent of which were not clearly identified in historical work.
Minaurum has signed a five-year option to acquire 100% of a large block of claims covering 1,198
hectares in exchange for US$2.7M with no royalties outstanding. The remainder of the claims are
wholly owned and royalty free.
Table 2. Option schedule to earn a 100% interest in the Aurífero project (all amounts in US$)
MILESTONE CASH NOTES
Upon Signing $144,000 Back taxes to be subtracted from this amount.
6 months $35,000
12 months $40,000
18 months $40,000
24 months $40,000
30 months $40,000
36 months $40,000
42 months $40,000
48 months $40,000
54 months $40,000
60 months $2,250,000
Total: $2,709,000
Figure 1. Alamos mining district, showing location of Aurífero project (red outline) in relation to Minaurum’s Alamos
project (blue outline) and Cobre del Mayo’s Piedras Verdes porphyry copper mine (purple outline).
Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is
a Mexico-focused explorer concentrating on the high -grade Alamos Silver Project in southern
Sonora. With a property portfolio encompassing multiple additional district -scale projects,
Minaurum is managed by one of the strongest technical and finance teams in Mexico. Minaurum's
goal is to continue its founders' legacy of creating shareholder value by making district -scale
mineral discoveries and executing accretive mining transactions. For more information, please
visit our website at www.minaurum.com and our YouTube Minaurum Video Channel.
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]
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this
news release.
___________________________________________________________________________
2300 – 1177 West Hastings Street Telephone 778 330-0994
Vancouver, BC V6E 2K3 www.minaurum.com
Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National
Instrument 43-101, reviewed the assay data, and has approved the disclosure in this News Release. The data presented
in this news release is historical and will require verification.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward -
looking information. In making the forward-looking statements in this release, Minaurum has applied certain factors
and assumptions that are base d on Minaurum’ s current beliefs as well as assumptions made by and information
currently available to Minaurum. 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. 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.