Jun 20 2013
Minaurum Gold Inc. ("Minaurum") is pleased to announce the results of a review and report by Dr. James Franklin on its 100% controlled Santa Marta project in Oaxaca, Mexico. Dr. Franklin is a geologist with more than 40 years of research and exploration experience on both active and ancient volcanogenic massive sulfide ("VMS") systems along with numerous discoveries to his credit.
Since his retirement as Chief Geoscientist of the Geological Survey of Canada he has been a consultant as well as an Adjunct Professor at Queen's University and at Laurentian and Ottawa Universities. Dr. Franklin is a Fellow of the Royal Society of Canada and is a past President of the Geological Association of Canada and of the Society of Economic Geologists.
Dr. Franklin visited the Santa Marta project and reviewed key outcrops and geological and geochemical data collected by Minaurum. The purpose of his review was to assess the prospectively of the project. In his report he concluded:
"Santa Marta appears to have all of the classic features of highly productive VMS systems, such as the semi-continuous deposit set at Flin Flon comprised of the Main Mine, Calinan and Triple 7. The stringer zone at Santa Marta has undergone slight oxidative weathering, and already has supported a small historic mining operation. The massive oxide zone appears to have been largely not explored; we saw evidence of only two drill holes, and there are no records of what these intersected."
Dr. Franklin's comments and observations may be summarized as follows:
- The occurrence consists of two parts: 1) a major stringer zone of vein and disseminated copper capped by 2) a laterally extensive silica-oxide zone that is weathered massive sulfide mineralization. The silica-oxide zone forms a prominent ridge.
- The stringer zone is exposed both laterally and vertically for several hundred metres along strike, and extends into the footwall for at least 100m. The mineralization is copper rich, chlorite dominated, and has excellent potential to extend both along strike and to depth.
- The massive oxide-silica zone that overlies the stringer zone was traced for over 700m along strike. It appears to have an average thickness of about 75-100m.
- The massive oxide zone is comprised of about 60-80% goethite-hematite and 20-40% silica, with traces of chalcopyrite and pyrite casts.
- The silica and iron contents of the massive oxide zone are the expected result of oxidation of massive sulfide mineralization.
"We're excited to receive Dr. Franklin's review of the Santa Marta project," commented Darrell Rader, Minaurum's President and CEO. "His comments and recommendations will be incorporated into a 3000m drill program currently being permitted."
Minaurum Gold is focused on its projects in the Guerrero Gold Belt, Mexico as well as the Santa Marta Project. Surface work continues at the Vuelcos del Destino, El Pórfido, and Jackie projects. For more information, please visit our website at www.minaurum.com and our You Tube Minaurum Video Channel https://www.youtube.com/user/minaurumgold.
Qualified Person: Mr. Stephen R Maynard, M.S., C.P.G., Vice-President Exploration of the Company and a qualified person as defined in National Instrument 43-101, approved the preparation of the technical information in this release.
ON BEHALF OF THE BOARD
"Darrell A. Rader"
Darrell A. Rader
President and CEO