Minaurum Acquires High-Grade Aurifero Gold Project, Mexico
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Minaurum Gold, through a series of acquisitions and the signing of an option agreement, has expanded its presence in the Alamos Mining District in Sonora, Mexico by acquiring control of the Aurifero Gold Project. The 1,229-hectare project lies 35 km northwest of Minaurum’s Alamos Silver Project. Located between both projects is Mexico’s third largest copper mine, Cobre Del Mayo’s Piedras Verdes mine.
Aurífero contains a swarm of gold- and silver-bearing epithermal veins within a NW/SE-trending zone measuring 3 km long and more than 400 m wide. Satellite imagery and ground reconnaissance geology indicate that the alteration signature is similarly widespread. The project has seen numerous campaigns of shallow reverse circulation and core drilling since the 1980s totaling over 8,000 metres. Holes were on average less than 100 m deep; the deepest reaching a vertical depth of 135 m from surface. There are currently a number of operators conducting small-scale mining on the project. Under the option agreement, the miners are restricted to a maximum mining depth of 100 m.
“We are pleased to add this high-grade project to our portfolio,” said Darrell Rader, president and CEO of Minaurum Gold.
“Historical data shows that the project has never been drilled deeper than 135 m and some of the deepest holes stopped in mineralization. Our due diligence found evidence that past exploration and current mining targeted only the highest levels of a substantial epithermal gold and silver system. We will permit and drill several deep holes in 2020 to test our geological model,” added Rader.
A NW-SE trend of structurally controlled ridges and valleys extending from northwest of Aurífero project to the east-southeast of the Piedras Verdes porphyry copper deposit. Gold mineralization in the Aurífero project area is associated with NW-SE fracture zones, veins, and rhyolite dikes, cutting intermediate to felsic tuffs. Quartz-eye rhyolite dikes and strong argillic alteration in a number of the shallow underground workings suggest that mining has been limited to the uppermost levels of a mineralized epithermal system. Aurifero mineralization appears to be spatially and temporally related to the emplacement of fine-grained felsic intrusions (dikes and small stocks), the nature and extent of which were not clearly identified in historical work.
About Minaurum Gold
Minaurum Gold Inc. is a Mexico-focused explorer concentrating on the high-grade Alamos Silver Project in southern Sonora. With a property portfolio encompassing multiple additional district-scale projects, Minaurum is managed by one of the strongest technical and finance teams in Mexico. Minaurum’s goal is to continue its founders’ legacy of creating shareholder value by making district-scale mineral discoveries and executing accretive mining transactions.
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