Minsud encounters 527.7m at 0.26% Cu, 9.70 g/t Ag, and 0.16% Zn, including 8m at 3.85% Cu, 188.6 g/t Ag, and 1.28% Zn at Chinchillones
TSX-V: MSR
June 27, 2024
Minsud encounters 527.7m at 0.26% Cu, 9.70 g/t Ag, and 0.16% Zn,
including 8m at 3.85% Cu, 188.6 g/t Ag, and 1.28% Zn at Chinchillones
TORONTO, ONTARIO - Minsud Resources Corp. (TSX-V: MSR) (“Minsud” or the “Company”), is pleased
to announce the receipt of assay results from five (5) additional drillholes, which were completed as part of
the ongoing Phase IV infill and scout drilling program at the Chita Valley Project, San Juan Province,
Argentina.
Drilling has resumed on the infill drilling program covering an area of approximately 2.5 square kilometres,
for the purpose of generating a Mineral Resource Estimate on the Property. This area represents the
primary mineralized zone within the Chinchillones target, as delineated through drilling.
From February 2024, continued drilling in Phase IV focused along the NE-trending corridor at the eastern
end of the Chinchillones target. To date, Minsud has completed 8,856m in 14 drillholes during the first half
of 2024. Assays have been received for drillholes CHDH24-99 to CHDH24-103, totaling 3,736.6m and are
reported here.
Key highlights and associated figures are provided below. Drilling results are summarized in Table 1.
Drillhole locations are shown in Map 1.
CHDH24-102 was drilled with an orientation of 315°/-65° to a depth of 743.70 metres:
• Significant Drill Intercepts:
o 527.7m @ 0.26% Cu, 9.70 g/t Ag and 0.16% Zn, from 216m depth.
o including 8.0m @ 3.85% Cu, 188.60 g/t Ag, and 1.28% Zn, from 386.0m depth.
• Geology:
o The drillhole was comprised of intercalated phreatomagmatic breccia and fine to medium-
grained porphyritic dacite . The dacitic, matrix supported, polymictic breccia contains
porphyritic dacite and quartzite clasts. There is m oderate to strong advanced argillic
alteration (kaolinite- pyrophyllite) affecting the matrix and clasts. Disseminated sulphide
mineralisation is ubiquitous with numerous high sulphidation veins containing estimated 3-
5% pyrite -bornite-sphalerite-tennantite. From 391m, there are consistent sul phides
occurring as disseminations, cavity in -fill, and veins. Both intermediate su lphidation (IS)
and high sulphidation veins are present.
o This intercept has established potential continuity and increased volume of similar higher-
grade intercepts from CHDH23-84, CHDH23-89, and CHDH23-69 (see PR releases dated
May 8, 2023 and November 20, 2023). The strong mineralization is interpreted as largely
associated with a superposed high sulphidation event over the earlier porphyry Mo -Cu
body at depth.
o Cu-Au-As mineralization is clearly aligned NNW on the eastern edge of the Dome.
CHDH24-103 was drilled with an orientation of 315°/-65° to a depth of 850 metres:
• Significant Drill Intercepts:
o 384.0m @ 0.33% Cu, 5.85 g/t Ag, 85 ppm Mo, from 466.0m depth.
o including 15.0m @ 2.47% Cu, 0.22 g/t Au, 30.13 g/t Ag, and 0.159% Zn, from 548m depth.
• Geology:
o This drillhole is located 150m NW from CHDH24-102. Up to 414 .0m, host rocks include
clast-supported, phreatomagmatic breccias containing mineralized clasts of dacitic
porphyry, quartzites and early diorite porphyry. The lithologies are m oderately to strongly
silicified, with abundant high sulphidation veins. Linear breccias are overprinted by earlier
moderate quartz-sericite alteration. Up to 5% modal estimate of sulphides.
o From 414.0m, the diorite porphyry variably hosts moderate to strong zoned quartz-sericite
alteration. Pyrophyllite is observed in fractures and high sulphidation veins, with locally up
to 3-5% total sulphides (pyrite-tennantite-sphalerite). Stockwork vein zone is characterised
by dense microveins hosting sulphides in a spectrum of porphyry and epithermal veins (i.e.,
high sulfidation, B- and A-type, and pyrite veins).
o From 692.3m, the tonalite porphyry exhibits moderate quartz -sericite alteration with a
quartz-sulfide stockwork zone (20-25 vein/m frequency) consisting of B-type, pyrite, and
HS veins with pyrite-bornite-chalcopyrite microveinlets associated with HS veins. Up to 7%
modal estimated sulphides w ithin these high-grade intervals (pyrite-chalcopyrite-bornite-
tennantite-molybdenite). Bornite appears in HS and B -type veins and disseminated in
quartz veins.
Chichillones Infill Drilling Program Update
MSA continues the Chinchillones infill drilling program covering an area of approximately 2.5 square
kilometres, for the purpose of generating a mineral resource estimate on the Property.
The program comprises 27,488 metres of diamond drilling, distributed in 32 drillholes. A total of 13 drillholes
totaling 9,838 metres (CHDH23-86 to CHDH23-98) were completed by the end of 2023, while an additional
8,856m in 14 drillholes was completed during the first half of 2024, for a total of 18,694 metres completed
to date in the infill program . Grid interval/hole spacing is currently set at approximately 1 00 metres. The
average depth of the planned drilling is approximately 800 metres.
Continued infill drilling program was mainly concentrated in the SW -NE corridor at the eastern end of the
Chinchillones target. Drilling tested the lateral and depth continuity of the higher-grade Cu -Au body
intersected from previously reported drillholes CHDH23-73 and CHDH23-62. Further drilling is intended to
outline the geometry of this Cu -Au body, with CHDH22 -62 to -69 and CHDH23 -96 associated with the
eastern edge of the dome. The remainder of the infill program of approximately 17,650 metres is expected
to be completed by Q3 2024.
Completed 2024 Roadmap Items:
• Flotation metallurgical testing at ALS Kamloops is ongoing. These metallurgical tests are a
prerequisite for a maiden resource estimate on the Chinchillones polymetallic deposit discovery.
• Terraspec. TIMA, micro -XRF and QXRD mineralogical studies have been completed in
representative samples from the 2023 drillholes.
Ongoing 2024 Roadmap Items:
• Continuation of the remainder of the infill program of approximately 17,650 metres, expected to be
completed by Q3 2024.
• Outline the geometry of the high-grade Cu-Au body identified in CHDH22-62 through CHDH23-69
and CHDH23-96, associated with the eastern edge of the Dome.
• Continuation of metallurgical testing on representative domains. Establish high, medium, and low-
grade domains for metallurgical and recovery testing.
• Continuation of mineralogical studies, Terraspec, TIMA, and QXRD on samples.
• Beginning in Q4 2024, continue with the development of new Exploration Targets identified during
geological mapping surveys completed in 2023.
• Completion of an NI 43 -101 resource estimate at the Chinchillones area within the Chita Valley
Project by the end of Q4.
Ramiro Massa, Minsud’s President & CEO, said: “After a brief hiatus in our drilling program and, of course,
a well-deserved respite for our hard-working drilling and geological teams, drilling at Chinchillones resumed
on February 15 . Likewise, the continuous flow of highly encouraging results from the Chinchillones infill
program has resumed as well. As we move forward into the second half of 2024, we anticipate several
exciting developments, including the completion of an updated resource estimate.”
Table 1: Phase IV Diamond Drilling Program – Summary of Results
Hole ID From
(m) To (m) Interval (m)
(*) Cu (%) Au (g/t) Ag (g/t) Mo
(ppm)
Pb
(ppm)
Zn
(ppm)
CHDH23-99 228.00 386.00 158.00 0.18% 0.11 8.96 9 672 6912
Inc 292.00 362.00 70.00 0.30% 0.15 11.79 10 232 11594
404.00 756.00 352.00 0.15% 0.08 2.42 54 34 470
CHDH23-100 422.00 558.00 136.00 0.11% 0.16 9.82 7 1319 6904
Inc 460.00 498.00 38.00 0.02% 0.07 6.16 3 1741 9073
572.00 672.00 100.00 0.54% 0.28 4.09 21 76 253
Inc 628.00 672.00 44.00 0.89% 0.44 3.69 32 46 212
774.00 827.60 53.60 0.25% 0.06 2.16 137 25 239
CHDH23-101 66.00 134.00 68.00 0.11% 0.10 11.96 30 963 2882
176.00 340.00 164.00 0.07% 0.05 1.27 50 41 246
CHDH23-102 216.00 743.70 527.70 0.26% 0.05 9.70 50 422 1621
Inc 386.00 394.00 8.00 3.85% 0.36 188.60 5 2840 12787
CHDH23-103 55.00 242.00 187.00 0.12% 0.09 13.46 58 548 4307
466.00 850.00 384.00 0.33% 0.05 5.85 85 193 683
Inc 548.00 563.00 15.00 2.47% 0.22 30.13 47 281 1588
* intervals reported in the above table are not true thicknesses
Quality Assurance/Quality Control
All core samples were submitted to the ALS Global Laboratories in Mendoza, Argentina for preparation and
analysis. All samples were analyzed for Au by fire assay / AA finish 50g, plus a 48-element ultra-trace four
acid digest with ICP -MS and ICP-AES finish. Minsud followed industry standard procedures for the work
with a quality assurance/quality control (QA/QC) program. Field duplicates, standards an d blanks were
included with all sample shipments to the principal laboratory. Minsud detected no significant QA/QC issues
during review of the data.
Map 1: Phase IV Drillhole Locations
Qualified Person (QP) Statement
Case Lewis, P.Geo., VP Exploration of the Company, is a Qualified Person (QP) as defined by Canadian
National Instrument 43-101. Mr. Lewis has visited the property and has read and approved the contents of
this release.
About the Chita Valley Project, San Juan Province
The Chita Valley Project is a large exploration stage porphyry system with classic alteration features,
widespread porphyry style Cu -Mo-Au and polymetallic Ag -Pb-Zn mineralization hosted by hydrothermal
phreatic breccias and associated gold and silver -bearing polymetallic veins of intermediate sulphide
composition that conformed an outcropping porphyry system at Chita and a lithocap of a porphyry system
at Chinchillones. San Juan Province of Argentina has a robust mining sector and recognizes the important
economic benefits of responsible development of its substantial Mineral Resource endowment.
Current exploration activities on the Chita Valley Project are being funded by South32 Limited (“South32”)
in accordance with the earn -in agreement between the parties entered into on November 1, 2019 as
amended.
On April 5, 2024, Minsud completed the issue to a wholly -owned subsidiary of South32 of a 50.1%
shareholding in Minera Sud Argentina S.A. (“MSA”), Minsud’s indirect Argentinian subsidiary that holds and
operates its flagship Chita Valley Project. The issue was made in accordance with South32’s earn-in right
under the earn-in agreement dated November 1, 2019.
About Minsud Resources Corp.
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag-Pb-
Zn Project, in the Province of San Juan, Argentina. The Company's shares are listed on the TSX -V under
the trading symbol “MSR”, and on the OTCQX under the symbol “MDSQF”.
About South32 Limited
South32 is a globally diversified mining and metals company. South32’s purpose is to make a difference by
developing natural resources, improving people’s lives now and for generations to come. South32 is trusted
by its owners and partners to realise the potential of their resources. South32 produces commodities
including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese
from its operations in Australia, Southern Africa and South America. South32 also has a po rtfolio of high-
quality development projects and options, and exploration prospects, consistent with its strategy to reshape
its portfolio toward commodities that are critical for a low-carbon future.
FOR FURTHER INFORMATION PLEASE CONTACT
Ramiro Massa
President and Chief Executive Officer
www.minsud.com
+1 416-479-4466
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