Minaurum Gold Advances La Quintera Property with Strong Sampling Results
Only a couple of weeks after first featuring Minaurum Gold (MGG – $0.09) and its attractive La Quintera project, the Company announced solid initial rock sampling results for its Mexican property.
Exploration work done since 2010 includes the identification of 44 historic mine workings and the collection of 334 rock samples of which 97 assayed between 100 and 1,380 g/t silver and 106 returned values between 30 and 100 g/t silver. Thirteen samples assayed more than 1 g/t gold, the highest gold grade returned was 4.1 g/t gold.
Minaurum’s own initial sampling program now confirms the prior range of high-grade assay results along with the addition of significant base metal grades. Highlights include: 1.0 metre of 1,020 g/t silver, 1.11% copper, and 0.52% zinc; 2 metres of 427 g/t silver, 0.33% lead and 0.42% zinc; and 2.5m of 232 g/t silver, 1.24% lead and 0.43% zinc.
Initial sampling collected at La Quintera by Minaurum. Source: Company press release.
Very interesting to note is that La Quintera also has several waste dumps from past mining activities that still contain mineralized material, including the Promontorio Waste Dump which hosts 157,728 tonnes grading 169g/t Ag, 0.69g/t Au, 1.61% Pb, 0.77% Cu and 3.12% Zn. It is also estimated that the Quintera dump hosts 66,712 tonnes grading 173g/t Ag, 0.57% Pb and 0.84% Zn.
Minaurum was co-founded by Silver expert, Dr. Peter Megaw. Dr. Megaw is known for having built companies such as MAG Silver and Excellon Resources in Mexico. As Director and Senior Consulting Geologist for Minaurum, Dr. Megaw, stated “The Quintera vein swarm produced the majority of the silver mined in the historic Alamos Silver Camp and has somehow eluded systematic exploration for over 100 years. We look forward to having the first crack at applying modern epithermal vein exploration concepts to this system.”
The Quintera Silver district, which includes the Promontorio, La Quintera, La Aduana, and Minas Nuevas mines, is estimated to have historically produced more than 120 Moz of silver from about 1680 to the early 1900s. Vein widths average 4m but locally range up to 20m. The primary target vein has a strike length of 3.5km and the entire vein system measures more than 7 km long. Historical records of selective mining indicate grades of over 2,000 g/t Ag were recovered using a cut-off grade of 1,000 g/t Ag.
The property covers 4,698 hectares and is located 8km west of Alamos, 45km northwest of Pan American’s Alamo Dorado silver mine, and 15km south of Cobre Del Mayo’s Piedras Verdes copper mine.
Minaurum has an option to acquire 100% of the La Quintera Silver Project in the historic Alamos District in Sonora, Mexico. The project has excellent infrastructure and is fully permitted from exploration through to production.
Minaurum is rapidly advancing the La Quintera project. We understand that the Company’s geologist is currently present at the property to conduct extensive mapping and sampling including the survey of old mine workings, detailed geologic mapping, and the interpretation of structural geology and geochemical zonation. All this work is to define additional high grade silver zones and targets for a drill program.
Next to the La Quintera project, Minaurum has developed an exciting portfolio of exploration projects focused on three regions in Mexico: The Guerrero Gold Belt, Oaxaca-Chiapas Region and Southern Sonora State. Definitely, a Company to keep a very close eye on as it will most likely generate a considerable amount of news flow over the next two quarters.
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