Minaurum Announces Results from Phase II Alamos Silver Project Drilling
NEWS RELEASE
MINAURUM GOLD INC.
FOR RELEASE: February 9, 2021 TRADING SYMBOL TSX.V:MGG
(MGG 2021 – NR #3)
Minaurum Announces Results from Phase II Alamos Silver Project Drilling
Minaurum Gold, Inc (“Minaurum”) is pleased to announce the final results of its 2020 Phase II
drilling program at its Alamos silver project in Sonora, Mexico. Drilling at the Europa-Guadalupe
target outlined a prospective south-west (“SW”) plunging silver shoot along with the potential for
additional high-grade mineralization to the north and south of the area drilled. At the Promontorio
target, drilling returned high -grade mineralization in excess of 100m below historical workings,
indicating the potential for two SW-plunging silver shoots. Highlights include:
Promontorio zone:
• 3.70 m @ 528 g/t Ag, 0.8 g/t Au, 0.83% Cu, 2.43% Pb, 1.47% Zn, including 1.05 m @ 1,203
g/t Ag, 2.45 g/t Au, 1.42% Cu, 5.08% Pb, 2.80% Zn in hole AL20-064
• 4.00 m @ 161 g/t Ag, 0.5 g/t Au, 0.24% Cu, 2.15% Pb, 5.92% Zn , including 1.00 m @ 327
g/t Ag, 0.9 g/t Au, 0.23% Cu, 2.53% Pb, 6.62% Zn in hole AL20-069
Europa-Guadalupe zone:
• 3.85 m @ 342 g/t Ag, 0.76% Cu, 1.03% Zn; including 0.80 m @ 1,185 g/t Ag, 2.19% Cu,
1.2% Zn in hole AL20-054
• 3.25 m @ 196 g/t Ag, 0.26% Cu, 0.35% Pb, 1.10% Zn including 0.55 m @ 784 g/t Ag, 1.05%
Cu, and 2.49% Zn in hole AL20-050
San José zone:
• 4.45 m @ 314 g/t Ag, 0.27% Cu, 0.19% Pb, 0.2% Zn in hole AL20-066
• 2.15 m @ 460 g/t Ag, 0.15% Cu, 0.47% Pb, 0.85% Zn in hole AL20-075
Travesía zone:
• 4.40 m @ 210 g/t Ag, 0.59% Cu, 1.28% Pb, 1.30% Zn , including 0.90 m @ 355 g/t Ag, 0.7
g/t Au, 1.02% Cu, 4.65% Pb, 3.24% Zn in hole AL20-077
“We are pleased by the high-grade results being returned from multiple veins at the Alamos
project. While drilling was impacted by the ongoing pandemic and permitting delays at the
Europa-Guadalupe target, we are encouraged by results demonstrating considerable
potential along strike and down dip at our top vein targets,” stated Darrell Rader, President
and CEO of Minaurum. “We are finalizing plans for 2021 drilling and will be updating the
market shortly.”
Promontorio Vein Zone
The reported holes were drilled as 75 to 100 m step -outs along strike and down -dip of previous
drilling. Please refer to Figures 2 and 3 for locations of Promontorio zone drill holes and
mineralized intersections. Assay highlights for these holes appear in Table 1.
Mineralization at Promontorio is associated with massive quartz veining hosted by a NNE-striking,
75-degree WNW-dipping fault zone. Elevated gold values and high grades of lead and zinc appear
to be related to a separate pulse of mine ralization that post -dates the silver-copper stage at
Promontorio. Further potential lies in southwest-plunging shoots like the major shoot at the La
Quintera mine, which lies on the same structure, about 1 km north of Promontorio (Figure 3).
Las Guijas section
The Las Guijas section of the Promontorio zone refers to a split off the main Promontorio vein/fault
zone. Holes AL20-069 and AL20-070 followed up on holes AL19-025 and AL19-034 (see New
Release dated August 22 nd, 2019), drilling the Las Guijas zone about 75 and 125 m north ,
respectively. AL20-069 drilled 2 intervals of significant mineralization, including 1.0 m @ 327
g/t Ag, 0.97 g/t Au, and 9.5% combined base metals; and 0.45 m @ 403 g/t Ag, 1.89 g/t Au,
and 22% combined base metals. AL20-070 cut the Las Guijas vein split at an oblique angle and
encountered three weakly mineralized vei ns. The intercept in AL19 -034 (1.1 m @ 729 g/t Ag)
lies about 100 m below the AL19-025 and 50 m below the AL20 -069 intercepts, suggesting a
potential SW-plunging shoot, as shown in Figure 3. The potential shoot may be controlled in part
by a NW-SE trending shoot that cuts the Promontorio zone.
Veta Grande section
Veta Grande, which occurs along the main Promontorio normal fault, dips 75 to 80 degrees to the
west. The fault cuts a package of altered limestone intruded by a Laramide granitic complex with
overlying Tertiary andesitic volcanic rocks and has estimated displacement of a few hundred
metres. Holes AL20-043, -044, -046, and -048 stepped 75 and 150 m north of holes AL17 -004
and -005 (see News Release dated October 13th, 2020). Holes AL20-062, -064, and -065 drilled
the Veta Grande structure about 50 m to the south of the AL17-004 and -005 section. Hole AL20-
064 cut 3.7 m @ 528 g/t Ag. Holes AL20-058 and -060 cut the Veta Grande section about 100 m
north of AL20-046 and -048. These holes intersected considerable thicknesses of anomalous
mineralized quartz vein. As in the Las Guijas area, the Veta Grande section h as room for a
southwest-plunging shoot, as shown in Figure 3.
Dios Padre section
The Dios Padre shaft was sunk in the 1890s to the level of the north end of the Promontorio adit.
Minaurum drilled three holes (AL20-072, -074, and -076) to test the Promontorio vein zone in the
vicinity of the Dios Padre shaft in 2020. Each of the veins encountered significant thicknesses of
quartz vein hosting anomalous silver mineralization.
Europa-Guadalupe Vein Zone
The holes reported here are the vertical and lateral offsets of AL17 -007 and subsequent drilling
reported in News Release dated September 20th, 2020. The reported holes were drilled as 75 to
100 m step -outs along strike and down -dip of previous drilling . Assay highlights for the holes
appear in Table 2. Drilling indicates the potential for a south-west plunging mineralized shoot, as
shown in Figure 5.
Down-dip from AL17-007 intersection
Three holes were aimed to intersect the Europa -Guadalupe zone down -dip from the AL07 -007
intercept (see News Release dated January 18th, 2018). Hole AL20 -050 cut the vein zone about
100 m down dip and 40 m to the north of -007. The vein was faulted but returned 0.55 m @ 784
g/t Ag. Hole -052 aimed to intersect the projection of the Europa -Guadalupe zone about 200 m
down-dip from the -007 intercept; it cut a previously unknown granodiorite which had a 25 m-
wide quartz-chlorite alteration zone at the predicted vein depth. Hole -055 targeted the vein zone
about 60 south and 60 m down -dip of the -007 intercept and cut 21.20 m of variably mineralized
vein averaging 35 g/t Ag. The best sub-interval reported 0.90 m @ 136 g/t Ag and 0.95 m @ 105
g/t Ag.
Up-dip of AL20-047 intercept
Holes AL20-049A and AL20-051 cut the Europa-Guadalupe vein zone approximately 100 m and
200 m up-dip, respectively, of the intercept reported in hole AL20 -047 (see News Release dated
September 20th, 2020), about 100 m south of the AL17 -007 section. Hole -049A cut 4 separate
mineralized intervals in the vein zone, including 1.55 m @ 221 g/t Ag and 3.37% combined
Cu+Pb+Zn. Hole -051 intersected a 7.70-m interval averaging 97 g/t Ag, including 1.45 m @
245 g/t Ag and 0.96% combined Cu +Pb+Zn. Grade and thickness of mineralized intercepts
increase down-dip from AL20-051 through AL20-049A to AL20-047 and AL17-007.
Northern extension
Hole AL20-045 intersected the Europa-Guadalupe fault zone about 100 m north of the AL17-007
intersection but the vein was cut out by a thick fault -bounded pre-mineral felsite body at the
predicted depth. The dimensions of the felsite are unknown, and the vein may continue past it to
the north. This area will be tested in the upcoming 2021 drill program.
Southern part of Europa zone
Holes AL20-053, -054, and -056 targeted intersected the vein zone 450 m south of the AL17-007
intersection and 100 to 200 m down dip from the vein zone’s surface expression. Hole -053 cut
3.85 m @ 165 g/t Ag, while hole -054 intersected 3.85 m @ 342 g/t Ag. Hole -056 cut 4.70 m @
47 g/t Ag, including 0.40 m @ 286 g/t Ag and 1.07% Cu, within the granodiorite in the footwall
of the main vein zone.
San José Vein Zone
The San José vein /fault zone has been traced on surface for more than 3.5 km and t he reported
holes were drilled as 75 to 100 m step -outs along strike and down -dip of previous drilling (see
News Release dated March 1st, 2019). Please refer to Figures 6 and 7 and Table 3 for locations of
San José zone drill holes and mineralized intersections.
San José shaft section
In 2020 t he San Jos é shaft section saw drilling down dip of hydrothermal/tectonic breccia
containing fragments of mineralized vein material intersected in holes AL18-016 and AL19-029
(see News Release dated March 1st, 2019 and August 22nd, 2019). Holes AL20-057 and -059 were
drilled down dip from AL19-029; they intersected only weak silver and base-metal mineralization
related to quartz-chlorite alteration and hydrothermal/tectonic breccia. Holes AL20-061 and -063
drilled down-dip from AL18-016, which drilled under the San José shaft. Hole -061 cut only weak
mineralization, while AL20-063 cut 2.05 m grading 1.48 g/t Au in a strongly chlorite-altered fault
zone.
Plata Fina section of the San José zone
Three holes were drilled on the Plata Fina section in 2020: AL20-066, -068, and -071. Hole AL20-
066 intersected 4.45 m @ 314 g/t Ag , hosted by hydro thermal breccia completely within
granodiorite. Hole -068 cut similar breccia about 70 m to the north of the -066 intercept, but with
only weak mineralization.
La Huerta section of the San José zone
The northernmost part of the San José vein zone, the La Huerta section, was first tested by
Minaurum with hole AL18 -015, which returned 9.6 m of 198 g/t Ag , 0.9 m of 302 g/t Ag, and
2.05 m of 181 g/t Ag from separate intervals (see News Release dated March 1st, 2019). Two holes
were drilled to offset the -015 intersections. Hole AL20-073 was drilled from the same collar, but
aimed to the southwest. It intersected 3.05 m @ 168 g/t, including 0.60 m @ 645 g/t Ag . Hole
AL20-075, drilled from the same colla r as -015 and -073, but below -015. It cut broad zones of
moderate mineralization, punctuated by 8.90 m @ 143 g/t Ag, which includes 0.80 m @ 350 g/t
and 2.15 m @ 460 g/t Ag. Mineralization is open at depth and along strike.
Travesía Vein Zone
The Travesía vein/fault zone is the northern continuation of the Promontorio zone and has been
traced on surface for more than one km. The fault zone dips steeply to the west with the west side
dropped down. The holes reported here are the vertical and lateral offsets of hole AL17-008 (see
News Release dated January 18th, 2018). Please refer to Figure 8 for locations of Travesía zone
drill holes and mineralized intersections. Assay highlights for these holes appear in Table 4.
Hole AL20-077 intersected the Travesía zone roughly 100 m below the AL17-008 intersection. It
cut 4.40 m @ 210 g/t Ag and 3.17% combined base metals, andesitic pyroclastic rocks in the
hanging wall and intrusive rocks in holes AL17 -008 and AL20-077. AL20-078 cut the Travesía
zone about 150 m north of the AL17-008 – AL20-077 section and intersected 1.0 m @ 81 g/t Ag.
Hole AL20-079 drilled the Travesía zone approximately 100 m south of the -077 intersection. It
cut a 7.50-m mineralized interval averaging 69 g/t Ag and 0.29% Cu that includes 0.90 m of 148
g/t Ag and 0.43% Cu.
Phase II Drilling Program
Phase II drilling started in mid-July of 2020. During 2020, Minaurum drilled 14,099 m in 40 holes,
using 2 man-portable drill rigs. Drilling concentrated on the Europa-Guadalupe and Promontorio
vein zones, with additional follow -up holes on the San José and Travesía zones. Results for the
first 8 holes of the Phase II program were reported in Minaurum News Releases dated September
24th, 2020 and October 13th, 2020. The Phase II program is slated to continue in 2021, pending an
improvement in COVID pandemic conditions in the Alamos region.
Table 1. Promontorio vein zone assay highlights of holes AL20 -58, AL20-060, AL20-062, AL20-064, AL20-065, AL20-067,
AL20-069, AL20-070, AL20-072, AL20-074, and AL20-076. See Figures 2 and 3 for hole and intercept locations. Hole depths
in metres. True thicknesses of the intersections in Table 1 are estimated as 60-80% of drilled thicknesses.
Hole From To Interval Ag g/t Au_g/t Cu % Pb % Zn % Comment
AL20-
058 141.20 142.85 1.65 97 0.33 0.66 0.01 0.10 Veta Grande
segment
AL20-
060 176.30 176.80 0.50 115 0.03 0.29 0.02 0.03 Veta Grande
segment
AL20-
062 158.85 161.00 2.15 23 0.15 0.07 0.32 0.86 Veta Grande
segment
AL20-
064
292.80 296.50 3.70 528 0.82 0.83 2.43 1.47
Veta Grande
segment
including
293.65 295.85 2.20 756 1.28 1.05 3.29 1.86
which includes
293.65 294.70 1.05 1203 2.45 1.42 5.08 2.80
AL20-
065 253.25 254.45 1.20 12 0.01 0.04 0.20 0.13 Veta Grande
segment
AL20-
067 115.50 115.90 0.40 59 0.28 0.4 0.06 0.77 Veta Grande
segment
AL20-
069
82.35 98.60 16.25 69 0.14 0.1 0.81 3.36
Las Guijas
segment
including
90.20 94.20 4.00 161 0.49 0.24 2.15 5.92
which includes
92.20 93.20 1.00 327 0.97 0.23 2.53 6.62
142.20 149.15 6.95 74 0.20 0.57 0.79 1.63
including
146.40 149.15 2.75 110 0.43 0.96 1.70 3.61
which includes
148.00 148.45 0.45 403 1.89 4.38 8.20 9.66
AL20-
070
101.45 104.20 2.75 12 0.04 0.01 0.51 2.57 Las Guijas
segment 130.55 130.95 0.40 3 0.81 0.02 0.03 0.03
172.45 174.30 1.85 90 0.15 0.18 1.24 0.90
AL20-
072 173.00 173.60 0.60 58 0.00 0.47 0.06 0.03 Dios Padre
segment
AL20-
074 190.35 192.45 2.10 49 0.47 0.18 0.01 0.03 Dios Padre
segment
AL20-
076 184.25 184.90 0.65 27 1.71 0.14 0.1 0.12 Dios Padre
segment
Table 2. Europa-Guadalupe vein zone assay highlights of holes AL20-049A, AL20-050, AL20-051, AL20-052, AL20-053, AL20-
054, AL20-055, and AL20-056. See Figures 2 and 3 for hole and intercept locations. Hole depths in metres. True thicknesses of
the intersections in Table 1 are estimated as 80-90% of drilled thicknesses.
Hole From To Interval Ag g/t Au_g/t Cu % Pb % Zn % Comment
AL20-
049A
190.70 191.45 0.75 116 0.01 0.38 0.13 0.34
Europa
shallow
233.45 235.00 1.55 221 0.02 0.69 0.82 1.86
262.80 263.15 0.35 233 0.01 0.37 0.24 1.40
278.10 279.80 1.70 96 0.03 0.26 1.52 2.73
AL20-
050
333.10 333.60 0.50 337 0.05 0.60 0.99 1.33
Europa
deep
556.05 559.30 3.25 196 0.02 0.26 0.35 1.10
including
558.75 559.30 0.55 784 0.04 1.05 0.78 2.49
AL20-
051
214.95 216.80 1.85 91 0.01 0.29 0.25 0.69
Europa
shallow
including
214.95 215.40 0.45 142 0.04 0.60 0.43 1.25
227.70 235.40 7.70 97 <0.01 0.17 0.13 0.34
including
227.70 231.80 4.10 147 <0.01 0.26 0.16 0.44
which includes
230.35 231.80 1.45 245 <0.01 0.32 0.32 0.32
AL20-
052
295.60 295.95 0.35 77 <0.01 0.38 0.02 0.02 Nueva
Europa 306.90 307.30 0.40 106 <0.01 0.36 0.02 0.03
AL20-
053
136.65 146.20 9.55 92 0.01 0.13 0.22 0.53 Europa
shallow including
139.50 143.35 3.85 165 0.02 0.20 0.32 1.01
AL20-
054
88.10 91.95 3.85 342 0.18 0.76 0.30 1.03
Europa
shallow
including
90.30 91.10 0.80 1185 0.55 2.19 0.33 1.20
128.95 129.80 0.85 80 0.01 0.16 0.04 0.06
141.50 142.60 1.10 61 <0.01 0.17 0.16 0.41
AL20-
055
352.00 352.30 0.30 1475 0.03 0.33 3.64 9.55 Europa
488.40 509.60 21.20 35 0.02 0.14 0.11 0.43
Europa
deep
including
495.25 496.15 0.90 136 0.01 0.27 0.07 0.18
and
507.70 508.65 0.95 105 0.01 0.27 0.25 1.15
and
509.15 509.60 0.45 53 0.48 0.19 0.36 0.69
AL20-
056
213.40 218.10 4.70 75 0.03 0.19 0.11 0.21
Europa
shallow
including
213.40 213.80 0.40 286 0.02 1.07 0.27 0.58
and
217.05 218.10 1.05 136 0.11 0.33 0.18 0.51
236.35 237.00 0.65 46 0.06 0.17 0.45 0.31
Table 3. San José vein zone assay highlights of holes AL20-57, AL20-059, AL20-061, AL20-063, AL20-066, AL20-071, AL20-
073, and AL20-075. See Figures 4 and 5 for hole and intercept locations. Hole depths in metres. True thicknesses of the
intersections in Table 2 are estimated as 80-90% of drilled thicknesses.
Hole From To Interval Ag g/t Au_g/t Cu % Pb % Zn % Comment
AL20-
057
184.90 186.70 1.80 3 0.14 <0.01 0.84 0.5
South San
Jose
206.90 208.95 2.05 3 0.67 0.01 0.05 0.16
222.00 223.00 1.00 14 0.03 0.03 0.79 0.62
225.55 227.00 1.45 7 0.02 0.08 0.63 0.32
AL20-
061 328.05 328.95 0.90 44 0.01 0.08 <0.01 0.01 San Jose
shaft area
AL20-
063
206.70 209.30 2.60 16 0.47 0.15 0.04 0.06 San Jose
shaft area 211.50 213.25 1.75 46 0.24 0.26 0.01 0.06
221.25 223.30 2.05 17 1.48 0.08 0.05 0.09
AL20-
066
193.50 197.95 4.45 314 0.07 0.27 0.19 0.2
Plata Fina
area
including
193.50 194.10 0.60 722 0.10 0.31 0.22 0.21
and
195.20 197.95 2.75 349 0.08 0.36 0.25 0.26
which includes
195.75 196.40 0.65 722 0.12 0.64 0.4 0.37
AL20-
073
9.15 13.35 4.20 55 <0.01 0.07 0.02 0.07
La Huerta
including
10.20 11.20 1.00 110 <0.01 0.25 0.06 0.16
55.40 58.45 3.05 168 0.01 0.12 0.39 0.57
including
55.40 56.00 0.60 645 0.03 0.53 1.76 2.65
107.80 112.85 5.05 38 <0.01 0.03 0.09 0.12
AL20-
075
14.50 15.60 1.10 148 0.01 0.23 0.35 0.43
La Huerta
68.80 72.35 3.55 100 0.01 0.08 0.08 0.18
including
69.40 70.15 0.75 133 0.04 0.33 0.28 0.66
142.60 151.50 8.90 143 0.04 0.16 0.37 0.49
including
147.20 148.00 0.80 350 0.07 0.18 0.75 0.98
381.20 383.35 2.15 460 0.01 0.15 0.47 0.85
including
381.20 382.80 1.60 591 0.01 0.2 0.6 1.02
Table 4. Travesía vein zone assay highlights of holes AL20 -077, AL20-078, and AL20 -079. See Figures 4 and 5 for hole and
intercept locations. Hole depths in metres. True thicknesses of the intersections in Table 2 are estimated as 70-80% of drilled
thicknesses.
Hole From To Interval Ag g/t Au g/t Cu % Pb % Zn % Comment
AL20-
077
274.50 278.90 4.40 210 0.23 0.59 1.28 1.30
Travesia
zone
under
AL17-008
including
276.10 278.90 2.80 265 0.35 0.73 1.73 1.57
which includes
276.10 277.00 0.90 355 0.74 1.02 4.65 3.24
and
277.80 278.90 1.10 323 0.21 0.82 0.38 0.58
AL20-
078
371.05 374.25 3.20 133 0.02 0.58 0.37 0.25
HW to
Travesia
zone
including
372.50 373.90 1.40 224 0.02 0.93 0.42 0.12
which includes
372.50 373.10 0.60 331 0.03 1.68 0.37 0.03
460.55 461.55 1.00 81 0.01 0.26 0.06 0.02 Travesía
zone
672.90 673.50 0.60 79 <0.01 0.11 1.71 0.93
La
Quintera
zone
projection
AL20-
079
280.95 288.45 7.50 69 0.15 0.29 0.07 0.17
about 100
m south
of AL20-
077
including
285.45 287.20 1.75 84 0.53 0.29 0.11 0.40
and
287.55 288.45 0.90 148 0.06 0.43 0.02 0.01