Minsud encounters additional mineralization at Chinchillones, 670m at 0.30% Cu, 0.13 g/t Au, 4.17 g/t Ag including 78m at 0.94% Cu, 0.45 g/t Au and 9.48 g/t Ag
TSX-V: MSR
August 1, 2023
Minsud encounters additional mineralization at Chinchillones, 670m
at 0.30% Cu, 0.13 g/t Au, 4.17 g/t Ag including 78m at 0.94% Cu, 0.45
g/t Au and 9.48 g/t Ag
TORONTO, ONTARIO - Minsud Resources Corp. (TSX-V: MSR) (“Minsud” or the “Company”), is pleased
to announce the receipt of assay results from nine (9) additional drillholes, which were completed as part
of the ongoing Phase IV scout drilling program at the Chita Valley Project, San Juan Province, Argentina.
Forty (40) drillholes have been completed to date in the Phase IV program, encompassing a total of 28,674
metres. Assay results have been received from drillholes CHDH23 -73 through CHDH23 -81, which tota l
6,691.2 metres. Key highlights and associated figures are provided below.
Chinchillones HS Target: High-grade body with mineralization extending below 1,000m depth
Drillhole CHDH23 -73 was drilled to test the continuity of the NNE trend containing high sulphidation
mineralization and strong advanced argillic alteration in the east Chinchillones area. It was drilled with an
orientation of 135°/-85° and reached a depth of 1,141 metres (see Map 1 and Table 1 below). The results
of this drillhole are very significant, having intersected a continuous 670-metre interval of dacites and high-
grade polymetallic (Cu-Ag-Au-Pb-Mo) hydrothermal breccia bodies.
Drilling intersected porphyritic dacite bodies with disseminated and early veinlet-hosted mineralization, with
marked advanced argillic alteration. These dacites are traversed by high -grade hydrothermal -intrusive
breccias. This dominant Cu -Au mineralization occurs disseminated in the porphyritic dacite and largely
within the breccia matrix. The geometry and extent of this hole have not yet been fully established, but this
confirms the high-grade mineralization found at depth in hole CHDH23-62.
Significant mineralized intervals for drillhole CHDH23-73 include:
• Drill Intercepts:
o 670.0m @ 0.30% Cu, 0.13 g/t Au and 4.17 g/t Ag, from 360 to 1,030m (open at depth).
▪ including 78.0m @ 0.94% Cu, 0.45 g/t Au, 9.48 g/t Ag, from 382.0 to 460.0m.
• Geology:
o This hole was comprised of intercalated phreatomagmatic breccia and fine to medium
grained porphyritic dacite. Rocks exhibit moderate sericitic alteration with superimposed
silicification and mineralization appearing as 5% sulphides (dominantly pyrite +
chalcopyrite) in zoned disseminations and veinlets.
These important mineralized dacites and breccia bodies, together with drillholes CHDH22-47, CHDH21-30,
CHDH22-50, and CHDH22-62 confirm an area of mineralization measuring 500m x 400m, elongated in a
NNE direction and open at depth in the eastern sector of the Chinchillones area.
Chinchillones HS Target: SSE High-Grade Sector
During the 2022 season, an important shallow zone was identified in the south-southeast sector of the east
Chinchillones area, bearing high-grade, polymetallic mineralization up to 200 metres deep, confirmed by
CHDH21-40 to CHDH22-43.
Recently, CHDH23-75, CHDH23-76, CHDH23-78, CHDH23-79, and CHDH23-80 were drilled in this area
with a total of 2,684 metres drilled. The results of these holes confirm the continuity and geometry of this
zone of shallow, high-grade mineralization.
Significant mineralized intervals for drillhole CHDH23-75 and CHDH23-79 include:
CHDH23-75 was drilled with an orientation of 135°/-75° to a depth of 483.2 metres:
• Drill intercepts:
o 296.0m @ 0.36% Cu, 0.10 g/t Au, 6.85 g/t Ag, 0.16% Zn, from 54.0 to 350.0m.
▪ Including 38.0m @ 1.40% Cu, 0.17 g/t Au, 12.81 g/t Ag, 0.1 3% Zn, from 258.0 to
296.0m.
▪ The above subinterval also includes 6.0m @ 6.37% Cu, 0.26 g/t Au, and 59.4 g/t
Ag from 258.0 to 264.0m.
• Geology:
o Intercalated, matrix -supported phreatomagmatic breccia and dacite bodies. Breccia is
comprised of subangular dacite and quartzite fragments. Medium to strong advanced
argillic alteration (kaolinite + pyrophyllite) and 5-7% sulphides. HS (high sulphidation) zone
comprises pyrite + enargite + chalcopyrite + tennantite.
CHDH23-79 was drilled with an orientation of 315°/-75° to a depth of 305 metres:
• Drill Intercepts:
o 263.0m @ 0.28% Cu, 0.15 g/t Au, and 8.92 g/t Ag, and 0.16% Zn from 35.0 to 298.0m
▪ Including 54.0m @ 0.48% Cu, 0.07 g/t Au, and 6.44 g/t Ag from 66.0 to 120.0m
▪ Including 18.0m @ 1.18% Cu, 0.75 g/t Au, and 24.13 g/t Ag from 242.0 to 260.0m.
• Geology:
o Intercalated phreatomagmatic breccia and dacite. Matrix -supported breccia is comprised
of rounded to subrounded quartzite and dacite fragments of variable size in a dacitic rock
flour matrix. Moderate advanced argillic alteration (dickite-pyrophyllite) and cavity-fill.
See Map 1 and Table 1 below for details of drillholes CHDH23-73 through CHDH23-81.
Table 1: PHASE IV Diamond Drilling Program – Summary of Results
Hole ID From To Length Cu Au Ag Mo Pb Zn
(m) (m) (m) (*) (%) (g/t) (g/t) (ppm) (ppm) (ppm)
CHDH23-73 360.00 1030.00 670.00 0.30% 0.13 4.17 32 48 418
incl 382.00 460.00 78.00 0.94% 0.45 9.48 29 81 467
CHDH23-74 22.00 646.00 624.00 0.09% 0.04 2.77 117 62 272
CHDH23-75 54.00 350.00 296.00 0.36% 0.10 6.85 18 325 1617
incl 258.00 296.00 38.00 1.40% 0.17 12.81 6 62 1267
412.00 483.20 71.20 0.27% 0.07 1.69 5 199 42
CHDH23-76 166.00 178.00 12.00 1.32% 0.83 52.89 8 240 1763
266.00 498.00 232.00 0.21% 0.06 5.53 6 92 407
CHDH23-77 114.00 1002.00 888.00 0.17% 0.09 8.81 222 747 4987
incl 430.00 662.00 232.00 0.21% 0.12 17.02 50 1445 11190
CHDH23-78 26.00 52.00 26.00 0.72% 0.03 13.50 8 1255 2096
incl 38.00 42.00 4.00 3.42% 0.03 29.05 15 1087 1039
72.00 114.00 42.00 0.23% 0.12 18.61 8 1965 7738
CHDH23-79 35.00 298.00 263.00 0.28% 0.15 8.92 9 394 1567
incl 66.00 120.00 54.00 0.48% 0.07 6.44 17 22 189
incl 242.00 260.00 18.00 1.18% 0.75 24.13 1 83 181
CHDH23-80 54.00 100.00 46.00 0.55% 0.08 8.83 20 185 282
208.00 296.00 88.00 0.36% 0.17 12.33 7 114 297
390.00 528.00 138.00 0.27% 0.09 8.44 7 89 563
860.00 872.00 12.00 0.65% 0.33 1.89 52 24 508
CHDH23-81 94.00 376.00 282.00 0.10% 0.10 9.69 14 1018 3191
440.00 976.00 536.00 0.22% 0.10 6.30 342 696 1896
* intervals reported in the above table are not true thicknesses
General outlook and exploration implications
The current results of the Phase IV exploratory activities, together with previous drilling phases, have
confirmed an expanded Chinchillones porphyry-epithermal system, now estimated to cover a minimum area
of 2 km x 2 km. The zone is open to more than 1,000m depth.
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 and 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
Map 2: Chinchillones East – Alteration & Mineralization
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 asso ciated 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 a subsidiary of South32
Limited (“South32”) in accordance with the earn -in agreement between the parties entered into on
November 1, 2019 and amendments.
On April 13, 2023, South32 exercised its earn-in right to acquire a 50.1% direct interest in the Company’s
Argentinean operating subsidiary Minera Sud Argentina S.A. (“MSA”) at the earlier of: (i) the completion of
the Year 4 annual exploration program; and (ii) February 14, 2024 (“Completion”). At the time of Completion,
Minsud Argentina Inc. (“MAI”), a wholly owned subsidiary of the Company, and South32 wi ll enter into a
shareholders' agreement to govern the management and operation of MSA.
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 also holds the early stage La Rosita
project comprising of 6,000 ha in Santa Cruz Province, Argentina.
About South32
South32 is a globally diversified mining and metals company. The company’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 realize 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. With a focus on growing
its base metals exposure, South32 also has two development options in North Ame rica and several
partnerships with junior explorers around the world.
FOR FURTHER INFORMATION PLEASE CONTACT
Ramiro Massa
President and Chief Executive Officer
www.minsud.com
+1 416-479-4466
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