Jan 12, 2012 (ACCESSWIRE-TNW via COMTEX) — Minaurum Gold Inc. (“Minaurum”) is pleased to announce that it has outlined multiple coincident geological, geochemical, and geophysical targets at its 8,831-hectare Vuelcos del Destino (“Vuelcos”) project in southern Mexico. The Vuelco’s project lies 20km from Goldcorp’s 9Moz Los Filos Gold Mine within the 15M oz Guerrero Gold Belt (“GGB”). The property was acquired from geologist David M. Jones, who is credited with the discovery of the Los Filos deposit. Drill permitting is underway.
Target identification at Vuelcos is based on the results of recent reconnaissance geological mapping, stream-sediment sampling and a property-wide airborne Variable Time-Domain Electromagnetic (VTEM) and magnetic survey. This work has helped to confirm the similarity of Vuelcos geology to that of the Los Filos Mine.
VTEM and magnetic surveys played a significant role in the discovery of the multiple deposits that make up the Los Filos Mine Project. At Vuelcos, the surveys have outlined three targets that coincide with a 2-km diameter granodiorite porphyry stock that is typical of Guerrero Gold Belt intrusions. Alteration and structural features within the stock are identical in nature to those seen in the Los Filos deposit. Stream-sediment geochemical anomalies coincide with the stock outline and with geophysical targets delineated by the airborne survey.
Three additional geophysical targets discovered lie in the southwest corner of the property where Mezcala Formation sandstone and siltstone overlie limestone of the Morelos Formation. EM and magnetic anomalies correlate with the Morelos-Mezcala contact adjacent to a recently identified andesite-granodiorite intrusive complex. The Morelos-Mezcala contact zone is the most important ore host at Torex Gold’s 3.9M oz Au El Limon and Los Guajes deposits and Cayden Resource’s Mina Verde deposit.
“The discovery of multiple significant targets at Vuelcos has allowed Minaurum to advance exploration to the stage of target definition and drill hole selection”, stated Darrell Rader, President and CEO of Minaurum Gold. “Drill permitting is expected to be completed during the first half of 2012.”
Resource and project data cited in this report were taken from the websites of Goldcorp Inc ( www.goldcorp.com ), Torex Gold Resources Inc ( www.torexgold.com ), and Cayden Resources Inc ( www.caydenresources.com ).
Minaurum is also pleased to announce that it has signed a 12 month contract with its Investor Relations Manager, Sunny Pannu. Compensation has been set at $5900 per month. For more information pertaining to Mr. Pannu please refer to NR#12, dated December 1, 2011.
Minaurum Gold is an exploration company focusing on gold and silver dominant projects in Mexico that have “district-scale” exploration potential. In addition to its four projects in the Guerrero Gold Belt, Minaurum is currently drilling its Capilla silver project as well as advancing its flagship Aurena project.
Qualified Person: Mr. Stephen R Maynard, M.S., C.P.G., has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release.
ON BEHALF OF THE BOARD
“Darrell A. Rader”
Darrell A. Rader
President and CEO
For more information, please contact:
Sunny Pannu – Investor Relations 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.
