- Minaurum Gold (MGG) has launched a Phase II drill program at its Alamos silver project in southern Sonora, Mexico
- The program will utilise two drill rigs to systematically step out from discoveries that were made during Phase I
- One drill will offset the Europa-Guadalupe discovery hole, while the other will test the Promontorio Vein target
- To prioritise Phase II drilling, the company has categorised the project’s vein inventory into three tiers
- Minaurum Gold (MGG) is currently down 3.23 per cent and is trading at C$0.45 per share
Minaurum Gold (MGG) has launched a Phase II drill program at its Alamos silver project in southern Sonora, Mexico.
Covering a total land package of 37,317 hectares, the project sits 45 kilometres northwest of Pan American’s Alamo Dorado silver mine and 15 kilometres south of Cobre Del Mayo’s Piedras Verdes copper mine.
Utilising two drill rigs, the Phase II program has been designed to systematically step-out from a number of discoveries that were made during Phase I.
Based on the results of the initial phase, as well as recently acquired historical drill information and surface geological data, such as host rocks and structural flexures, the discoveries have been categorised into three tiers of priority.
Tier one will include the Europa-Guadalupe vein zone and the Promontorio zone, each of which will host one of the two drill rigs, while tier two and three targets will be focused on later in the program.
The Europa-Guadalupe vein zone previously returned significant results, including 8.25 metres grading 1,760 grams per tonne of silver; as did the Promontorio zone, which returned 12.2 metres grading 710 grams per tonne of silver.
Darrell Rader, President and CEO of Minaurum Gold, said he is excited to begin stepping out from numerous Phase I drilling discoveries.
“Phase I confirmed our geological model, proved that Alamos is a silver district and generated a significant inventory of high-grade vein targets for Phase II drilling.
“We’ll focus first on Europa-Guadalupe and Promontorio as well as the Nueva Europa vein that lies between them. With multiple rigs drilling 75 to 150 metre step-outs, we anticipate a considerable amount of news flow over the next 12 to 18 months,” he added.
Minaurum Gold (MGG) is down 3.23 per cent and is trading at C$0.45 per share at 10:19am EDT.