Minaurum Announces Rehabilitation of Historic Promontorio Mine at Alamos Silver Project
NEWS RELEASE
MINAURUM GOLD INC.
FOR RELEASE: August 18, 2022 TRADING SYMBOL TSX.V:MGG
Minaurum Announces Rehabilitation of Historic Promontorio Mine at
Alamos Silver Project
Minaurum Gold Inc . (“Minaurum”) (TSXV:MGG) (OTCQX:MMRGF) is pleased to announce
that it has begun rehabilitation of one of the largest historic underground silver mines at its flagship
Alamos silver project in Sonora, Mexico . The Promontorio mine historically produced
approximately 70 Moz silver, was left in mineralization, and remains significantly underexplored.
Initial rehabilitation to facilitate mapping and sampling of more than 1 km of workings will take
several months to complete and will consist of securing and cleaning all underground areas, and
removing and stockpiling backfill for possible future processing.
Historical records indicate that the Promontorio Mine closed in 1896 and remained abandoned
until the 1960s. Material was processed from surface dumps and underground backfill, along with
underground drilling and mapping at Promontorio. The 1960s effort included the clearing of the
main haulage level and access to lower levels of the Promontorio Mine and to the northernmost
part of it. Nineteen underground diamond holes were drilled during the 1960s and several of them
intersected significant widths of high -grade mineralization (see Minaurum Historical Data news
release dated February 6, 2020) . This mineralization was left untouched and Minaurum
successfully cut extensions of it with surface drilling.
“Alamos is an exciting brownfields district and this underground rehabilitation program
will help assess the potential for near surface deposits we can trace to depth where our
drilling has encountered very attractive grades in wide veins” stated Darrell Rader, Minaurum
Gold President and CEO. “From the get-go, we’ve believed Alamos hosts significantly more
silver mineralization than the 200 Moz silver historically produced from the only three mines
in the district, and our exploration emphasis to date has been on defining and exploring new
targets. Our s urface exploration work has discovered 26 separate vein zones, drilled 19 of
them and demonstrated that 14 host the kind of high -grade silver mineralization
characteristic of the district.”
Since optioning the project in August of 2016 through the end of 2021, Minaurum has drilled 103
surface core holes totaling 42,317.7 m, testing 19 of the 26 veins zones that it has identified on the
project (Figure 1). Most of the drilling was conducted via holes spaced 200-400 m apart to test
new vein systems and their continuity. The historic mining zones were left relatively untouched,
but surface drilling at the Promontorio vein zone, guided by limited 1960s underground drilling,
identified several areas of what appear to be coherent and continuous high-grade mineralization.
Minaurum has reason to believe t hese areas still host significant potential for high -grade silver
mineralization and should be the first area of focus of this underground rehabilitation program.
Figure 1. Vein-zone map of the Alamos project showing Minaurum drill-collar locations.
Click image to enlarge.
Promontorio Vein Zone
The Promontorio vein zone can be traced on the surface and underground for more than 1 km and
it has produced an estimated 70 Moz of silver. According to historical maps, the Promontorio
underground workings consist of a haulage level that measures approximately 1.2 km long, at least
one lower level, 4 surface shafts (two of which are still open at the surface), 2 internal shafts, and
several stopes (Figure 2).
The underground drilling program of 19 holes totaling 1,384 m during the 1960s returned
significant high -grade results that were never followed up . The highest-grade intersections
returned 1.2 m of 5,588 g/t Ag (Hole U-1), 1.2 m of 1,008 g/t Ag (Hole U-1), 4.6 m of 2,838 g/t
Ag (Hole U-3), 1 m of 2,177 g/t Ag (Hole U-12) (see Minaurum Historical Data news release
dated February 6, 2020). The drill holes intersected multiple mineralized veins that extended
mineralization over 50 m below the historic mining levels and indicated an aggregate 735 m strike
length of mineralization . Multiple veins were left open to depth both down plunge and along -
strike.
Figure 2. Promontorio vein zone, showing extent of historical workings and Minaurum drilling to date.
Click image to enlarge.
Minaurum followed up on the historical underground drilling with surface drilling of 24 core holes
totaling 8,470.8 m. These holes returned significant high-grade results including:
• 3.80 m of 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn, including 0.95 m of
1,566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn (Hole AL19-025)
• 1.10 m of 729 g/t Ag, 1.73 g/t Au, 3.05% Pb, 5.73% Zn (Hole AL19-034)
• 5.1 m of 769 g/t Ag, 0.76% Cu; including 3.1 m of 1,197 g/t Ag, 1.38% Cu (Hole AL20-
046)
• 2.9 m of 636 g/t Ag, 1.36% Cu, 3.85% Pb, 7.18% Zn (Hole AL20-044)
• 1.75 m of 144 g/t Ag, 4.15% Pb, 9.10% Zn (Hole AL20-043)
In Figure 2, note that the northwest-trending fault with the southwest side down-dropped with
respect to northeast side cuts the Las Guijas vein. Notably, Minaurum intersected high-grade silver
mineralization 25 m below the haulage level in hole AL19-025, and about 120 m below the haulage
level in hole AL19-034, both on the southwest side of the fault. Minaurum geologists believe that
the faulted Las Guijas vein likely continues in the southwest block (the Promontorio South vein
zone), and potentially includes high-grade shoots.
Minaurum’s initial plan is to re-log all the Promontorio drill core and rehabilitate, map, and sample
the underground workings. Service holes will be drilled into the workings in strategic spots near
the El Tirito and Balvanera shafts to facilitate the delivery of electricity and compressed air.
Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTCQX; 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 creatin g 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 follow us on YouTube, Twitter and LinkedIn.
ON BEHALF OF THE BOARD
“Darrell A. Rader”
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu – Investor Relations and Corporate Development 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.
___________________________________________________________________________
2710 – 200 Granville Street Telephone 778 330-0994
Vancouver, BC V6C 1S4 www.minaurum.com
Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified Person as defined by National
Instrument 43 -101, reviewed and verified the assay data, and has approved the disclosure in this News Release.
Historical data reported in this news release has not been verified.
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.