Minaurum Commences Drill Program to Define Maiden Resource at Alamos Silver Project
NEWS RELEASE
MINAURUM GOLD INC.
FOR RELEASE: July 23, 2024 TRADING SYMBOL TSX.V: MGG
Minaurum Commences Drill Program to
Define Maiden Resource at Alamos Silver Project
Minaurum Gold Inc. (“Minaurum” or “ the Company”) (TSXV: MGG) (OTCQX:MMRGF) is
pleased to announce the commencement of a minimum 8,000-metre drill program designed to
establish an initial National Instrument 43-101 inferred mineral resource at its 100%-owned and
fully permitted Alamos silver project (“Alamos”) in Sonora, Mexico. Drilling will focus initially
on three silver targets including the Europa vein, the historic Promontorio vein zone , and the
Promontorio Sur vein zone. These zones were prioritized out of the 19 vein zones that returned
high-grade silver drill results.
“We are excited to progress our first three vein zones to a maiden resource . Delivering a
resource will begin to align our geological advancements with those we have already made
on the permitting side,” stated Darrell Rader, President and CEO of Minaurum Gold. Since we
began exploring Alamos, we followed a t wo-pronged strategy of de -risking the project
through simultaneous exploration and permitting. With production permits in place, an
initial resource will further our plan of developing Alamos into a turn -key Tier-One silver
asset. We plan to complete the resource by the end of 2024 followed by resource -expansion
drilling on additional high-grade silver vein zones in 2025.”
Minaurum has drilled 42,317 m in 106 core holes on 19 of the 26 vein zones discovered at the
Alamos silver project from 2017 - 2023. Fifty-nine core holes totaling 19,909 m were drilled on
the Promontorio and Europa vein zones (Figure 1). The maiden inferred mineral-resource drill
program will include i nfill drilling at the Promontorio vein, and step -out drilling down -dip and
along-strike at the Europa and Promontorio Sur veins. Exploration has been concentrated in the
5,000-ha northeastern portion of the 37,928-ha land package. Considerable exploration potential
remains in the rest of the concession block.
Europa Vein Zone
The Europa vein zone hosts Minaurum’s first discovery hole, AL17-007, which returned 8.25 m
grading 1,760 g/t Ag or 2,086 g/t AgEq at 350 m down-dip from surface. The vein zone trends
north-northeast and has been traced for nearly 2 km on surface and occurs in volcanic rocks along
a normal fault contact with footwall granodiorite, dipping consistently -55 degrees to the east -
southeast. Drilling has intersected it more than 400 m down dip and it remains open along strike
and down dip (Figure 2).
Figure 1. Europa, Promontorio, and Promontorio Sur vein zones at the Alamos silver project.
Click image to enlarge.
Europa drilling to date totals 10,651 m in 28 holes cutting the vein zone at 75- to 100-m spacings.
The planned program for 2024 includes infill and step -out drilling down -dip and along strike.
Highlights of prior Minaurum drilling at Europa include:
• 8.25 m of 1,760 g/t Ag, 1.6% Cu, 1.5% Pb, and 2.6% Zn or 2,086 g/t AgEq incl. 2.2 m of
5,098 g/t Ag, 2.76% Cu, 0.5% Pb, and 1.18% Zn or 5,477 g/t AgEq (Hole AL17-007)
• 3.50 m of 404 g/t Ag, 0.54% Cu, 1.30% Pb, 1.81% Zn or 572 g/t AgEq incl. 1.15 m of
999 g/t Ag, 1.29% Cu, 2.98% Pb, 2.98% Zn or 1,346 g/t AgEq (Hole AL20- 042)
• 3.85 m of 342 g/t Ag, 0.76% Cu, 1.03% Zn or 491 g/t AgEq incl. 0.80 m of 1,185 g/t Ag,
2.19% Cu, 1.2% Zn or 1,538 g/t AgEq (Hole AL20-054)
Figure 2. Europa vein zone, showing 2017-2021 Minaurum holes (green dots and solid black lines) and step-out
holes planned for 2024 (blue dashed lines). Note that Europa is open along strike and down dip.
Click image to enlarge.
Promontorio and Promontorio Sur Vein Zones
The 1 km-long Promontorio vein zone consists of the Veta Grande, Veta del 100, and Veta Las
Guijas (Figure 3) . The individual veins are hosted in faulted volcanics, altered limestone, and
intrusive rocks. A fourth , unexploited vein lies about 100 m west of the Veta del 100 (see
Minaurum news release dated February 6, 2020) . Promontorio Sur is the faulted-off, down -
dropped, and unexploited southern extension of the Las Guijas vein.
Although the Promontorio mine is estimated to have produced as much as 70 million ounces of
silver up to the 1890s, subsequent drilling has shown that it ended in mineralization and is open at
depth and along strike . At Promontorio and Promontorio Sur , Minaurum has drilled 29 holes
totaling 9,258 m . In addition, Minaurum has partially rehabilitated the haulage level of the old
mine workings, providing access to underground vein exposures (see Minaurum news releases
dated November 15, 2022, and March 2, 2023). Drilling to date has cut high-grade mineralization
up to 135 m below the Las Guijas vein as well as below the Veta Grande and Veta del 100 ,
indicating potential for additional high-grade mineralization at depth and along strike. The 2024
program will include infill drilling to establish 75- to 100-m spacings between vein intersections,
as well as step-out drilling.
Highlights of Minaurum’s drilling at Promontorio include:
• 20.2 m of 154 g/t Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn or 455 g/t AgEq (Hole AL17-004)
• 3.8 m of 415 g/t Ag, 2.68 g/t Au, 1.37% Cu, 6.20% Pb, 9.19% Zn or 1,309 g/t AqEq incl.
0.95 m of 1,566 g/t Ag, 6.72 g/t Au, 4.48% Cu, 9.27% Pb, 10.08% Zn or 3,282 g/t AgEq
(Hole AL19-025)
• 7.6 m of 266 g/t Ag, 0.27 g/t Au, 0.57% Cu, 1.60% Pb, 3.17% Zn or 461 g/t AgEq, incl.
2.9 m of 636 g/t Ag, 1.36% Cu, 3.9% Pb, 7.17% Zn or 1,204 g/t AgEq (Hole 20-044)
• 3.1 m of 1,197 g/t Ag, 1.38% Cu or 1,334 g/t AgEq (Hole AL20-046)
• 3.7 m of 528 g/t Ag, 0.83% Cu, 2.43% Pb, 1.47% Zn or 761 g/t AgEq (Hole AL20-064)
• 1.0 m of 327 g/t Ag , 0.97 g/t Au, 0.23% Cu, 2.53% Pb and 6.62% Zn or 748 g/t AgEq
(Hole AL20-069)
• 1.1 m of 729 g/t Ag , 1.73 g/t Au, 0.13% Cu, 3.05% Pb and 5.73% Zn or 1,186 g/t AgEq
(Hole AL19-034)
Figure 3. Promontorio vein zone, showing 2017-2022 drilled holes (green dots and black traces) and proposed 2024
holes (blue dashed lines). Note that Promontorio Sur block is down-dropped with respect to the main Promontorio
zone along NW-striking fault. Click image to enlarge.
Weight-averaged silver-equivalent grades are based on May 1, 2024, Kitco.com metal prices: Ag
$26.90/oz, Au $2,303.00/oz, Cu $4.52/lb, Pb $1.09/lb, Zn $1.43/lb.
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Minaurum Gold Inc. (MGG | TSX Venture Exchange; MMRGF | OTC; 78M Frankfurt) is
a Mexico-focused explorer concentrating on the high -grade 100% owned , production-permitted
Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical
and finance teams and will continue its founders' legacy of creating shareholder value to develop
and acquire a pipeline of potential Tier -One precious -metal projects. Minaurum provides
significant exposure to precious and base metals.
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.
___________________________________________________________________________
1570– 200 Burrard Street Telephone 1 778 330-0994
Vancouver, BC V6C 3L6 www.minaurum.com
Data review and verification: Stephen R. Maynard, Vice President of Exploration of Minaurum and a Qualified
Person (QP) as defined by National Instrument 43 -101, reviewed and verified the assay data, and has approved the
disclosure in this News Release. Verification was done by visual inspection of core samples and comparison to assay
results. Assay results have not been checked by re -analysis. No factors were identified that could materially affect
the accuracy or reliability of the data presented in this news release.
Analytical Procedures and Quality Assurance/Quality Control: Preparation and assaying of drilling samples from
Minaurum's Alamos project are done with strict adherence to a Quality Assurance/Quality Control (QA/QC) protocol.
Core samples are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed
courier to ALS Minerals' preparation facility in Hermosillo, Sonora, Mexico. ALS prepares the samples, crushing
them to 70% less than 2mm, splitting off 250g, and pulverizin g the split to more than 85% passing 75 microns. The
resulting sample pulps are prepared in Hermosillo, and then shipped to Vancouver for chemical analysis by ALS
Minerals. In Vancouver, the pulps are analyzed for gold by fire assay and ICP/AES on a 50-gram charge. In addition,
analyses are done for a 48-element suite using 4-acid digestion and ICP analysis. Samples with silver values greater
than 100 g/t; and copper, lead, or zinc values greater than 10,000 ppm (1%) are re -analyzed using 4-acid digestion
and atomic absorption spectrometry (AAS).
Quality-control (QC) samples are inserted in the sample stream every 20 samples, and thus represent 5% of the total
samples. QC samples include standards, blanks, and duplicate samples. Standards are pulps that have been prepared
by a third -party laborator y; they have gold, silver, and base -metal values that are established by an extensive
analytical process in which several commercial labs (including ALS Minerals) participate. Standards test the
calibration of the analytical equipment. Blanks are rock mate rial known from prior sampling to contain less than
0.005 ppm gold; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates,
the sample interval is cut in half, and then quartered. The first quarter is the original sample, the second becomes the
duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.
When final assays are received, QC sample results are inspected for deviation from accepted values by the QP. To
date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.
ALS Minerals is independent of Minaurum Gold and is independent of the Qualified Person.
Cautionary Note Regarding Forward Looking Information: This news release contains "forward -looking
information" within the meaning of applicable Canadian securities legislation. "Forward -looking information"
includes, but is not limited to, statements with respect to activities, events or developments that the Company expects
or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements
can be identified by the use of words such as "plans", "expects", "is expected", "budget", "schedule d", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words
and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur"
or "be achieved" or the negative connotation thereof.
In making the forward -looking information in this release, Minaurum has applied certain factors and assumptions
that are based on Minaurum’s current beliefs as well as assumptions made by and information currently available to
Minaurum. Although Minaurum c onsiders these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the forward -looking information 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 information.
Readers are cautioned not to place undue reliance on forward -looking information. Minaurum does not intend, and
expressly disclaims any intention or obligation to, update or revise any forward -looking information whether as a
result of new information, future events or otherwise, except as required by law.