TSX-V: MSR
TORONTO, Feb. 5, 2021 /CNW/ - Minsud Resources
Corp. (TSX-V: MSR) ("Minsud" or the "Company"), is
pleased to announce the completion of Phase 2 diamond
drilling program, comprised of 12 holes, 5,818 meters, with
variable depths between 350-650 meters, completed at the Chita and
Chinchillones porphyry targets, part of the Chita Valley Project.
Together with Phase 1, the Company completed a total of 9,377
meters during 2020, as shown in Map 1.
The program tested targets identified during the systematic
multidisciplinary exploration program conducted in the sector
during Phase 1 drilling program completed during first half of
2020, and the results from the pole-dipole geophysical survey
covering 68 kilometers over 13 Induced Polarization (IP) lines
completed on July 2020.
Target Chinchillones: Scouting drill holes CHDH20-04
and CHDH20-05 (Phase 1) together with drill hole CHDH20-17 (Phase
2) confirm the presence of a deep porphyry system and linked
shallow polymetallic Cu-Au-Pb-Zn mineralizations hosted in breccias
and veins at the North West edge of the Chita Valley. Early
Chalcopyrite-molybdenum veins crosscut by hydrothermal late veins
suggests a telescoping hydrothermal event overimpossed to the
porphyry system, potassium alteration (Magnetite-Biotite) appears
as a relict in the widespread Quartz-sericite alteration. At the
southern edge of the Chinchillones area, the porphyry system
appears to be intruded by a late phreato magmatic breccia
(Diatreme) and a Dacite Dome. Intermediate sulphidation (IS)
Pb-Zn-Mn-Au-Ag mineralization types, appear to be related with
these magmatic hydrothermal breccias aligned in the North North
East direction. Anomalous values of Cu-Au-Ag-Pb-Zn detected in
drillhole CHDH20-08 are a typical dome-related mineralization.
The Cu-Mo and Pb-Zn +/- Au Ag mineralization identified at the
Chinchillones area confirms that this area constitutes a high
priority target with significant potential of exploration.
Phase 2:
Chinchillones area - Summary of Analytical Results
|
Hole
ID
|
From
|
To
|
Length
|
Au
|
Ag
|
Cu
|
Mo
|
Pb
|
Zn
|
(mt)
|
(mt)
|
(mts)
(*)
|
g/t
|
g/t
|
%
|
ppm
|
ppm
|
ppm
|
CHDH20-07
|
66
|
82
|
16
|
0.07
|
13.63
|
0.46
|
81
|
728
|
2,276
|
including
|
66
|
68
|
2
|
0.11
|
25.30
|
2.68
|
99
|
1,950
|
8,610
|
|
120
|
186
|
66
|
0.11
|
14.35
|
0.14
|
65
|
1,321
|
3,061
|
|
264
|
393
|
129
|
0.02
|
9.69
|
0.05
|
99
|
1,047
|
4,926
|
CHDH20-08
|
42
|
68
|
26
|
0.12
|
4.80
|
0.07
|
2
|
756
|
1,629
|
|
114.5
|
115.3
|
0.8
|
0.99
|
307.00
|
7.45
|
7
|
3,000
|
18,850
|
|
303
|
309
|
6
|
0.34
|
54.22
|
0.27
|
32
|
498
|
3,579
|
|
354
|
450
|
96
|
0.07
|
15.16
|
0.03
|
3
|
2,140
|
5,467
|
CHDH20-09
|
122
|
128
|
6
|
0.19
|
24.26
|
0.11
|
6
|
737
|
1,553
|
|
450
|
456
|
6
|
0.07
|
76.64
|
0.17
|
5
|
1,728
|
4,973
|
CHDH20-10
|
12
|
22
|
10
|
0.36
|
75.79
|
2.66
|
4
|
22,489
|
7,079
|
including
|
16
|
18.3
|
2.3
|
0.60
|
163.78
|
8.43
|
6
|
49,170
|
23,052
|
|
65
|
69
|
4
|
0.10
|
14.40
|
0.10
|
47
|
541
|
3,763
|
|
132
|
136
|
4
|
0.11
|
10.65
|
0.03
|
2
|
5,493
|
20,810
|
|
235
|
241
|
6
|
0.13
|
35.87
|
0.19
|
2
|
2,153
|
16,743
|
CHDH20-17
|
100
|
178
|
78
|
0.16
|
6.47
|
0.21
|
87
|
144
|
3,531
|
|
240
|
347
|
107
|
0.20
|
24.07
|
0.11
|
16
|
2,046
|
5,942
|
|
464
|
524
|
60
|
0.02
|
1.49
|
0.24
|
137
|
59
|
740
|
CHDH20-18
|
104
|
238
|
134
|
0.07
|
3.38
|
0.19
|
76
|
68
|
190
|
including
|
107
|
108
|
1
|
0.32
|
102.00
|
3.52
|
15
|
430
|
2,850
|
|
285
|
292
|
7
|
0.35
|
5.00
|
0.28
|
39
|
60
|
167
|
|
388
|
398
|
10
|
0.06
|
11.71
|
0.25
|
57
|
76
|
408
|
(*) Intervals
reported in the above table are not true thicknesses
|
Target Chita North porphyry
(PNO): This target was tested through drill holes
CHDH20-11, CHDH20-12, CHDH20-14, CHDH20-15 and CHDH20-16. The main
rock type intercepted corresponds to an Andesite porphyry. The
dominant hydrothermal alteration corresponds to a marginal
propylitic Py halo (3%-5%). Drill hole CHDH20-12, approximately at
412 meters deep, intercepted a porphyry with Potassium alteration
type, conformed by Biotite-Magnetite +/- Potassium Feldspar. The
mineralization is scarce, associated to North North East structures
with Chalcopyrite-Sphalerite (intermediate sulphidation system) and
relict of primary Molybdenite mineralization. The continuity to the
north of the potassium alteration detected at the southern margin
of the Chita Valley is still not clear and should be confirmed
through future geological mapping and drillings.
Target Chita South porphyry
(PSU): It was only tested through drill hole CHDH20-13.
Mineralization of 0.3% to 0.4% Cu, up to 100 - 120 meters. The best
grades are associated with Chalcocite (product of a secondary
enrichment process) coating on Pyrite and Chalcopyrite, together
with copper oxide fillings (mix Cu Ox –Sulphur zone).
Phase 2: Chita PSU
and PNO - Summary of Analytical Results
|
Hole
ID
|
From
|
To
|
Length
|
Au
|
Ag
|
Cu
|
Mo
|
Pb
|
Zn
|
(mt)
|
(mt)
|
(mts)
(*)
|
g/t
|
g/t
|
%
|
ppm
|
ppm
|
ppm
|
CHDH20-11
|
424
|
480
|
56
|
0.02
|
0.64
|
0.09
|
271
|
7
|
29
|
CHDH20-12
|
32
|
48
|
16
|
0.08
|
4.74
|
0.39
|
40
|
155
|
492
|
including
|
39.5
|
40
|
0.5
|
0.88
|
64.20
|
3.47
|
351
|
118
|
780
|
|
332
|
342
|
10
|
0.05
|
2.76
|
0.17
|
35
|
72
|
263
|
CHDH20-13
|
24
|
126
|
102
|
0.08
|
2.06
|
0.33
|
253
|
39
|
104
|
|
152
|
192
|
40
|
0.04
|
0.87
|
0.11
|
189
|
18
|
181
|
CHDH20-14
|
120
|
124
|
4
|
0.06
|
2.37
|
0.06
|
22
|
96
|
5,765
|
|
174
|
182
|
8
|
0.08
|
2.81
|
0.04
|
6
|
610
|
3,303
|
CHDH20-15
|
288
|
292
|
4
|
0.21
|
9.30
|
0.16
|
5
|
110
|
300
|
CHDH20-16
|
Intercepts
hydrothermal pyrite halo
|
(*) Intervals
reported in the above table are not true thicknesses
|
The results of this Phase 2 scout drilling exploration program
confirm very interesting intercepts that support effectively the
presence at shallow and at down depth level of a Zn-Pb-Cu-(Ag-Au)
polymetallic epithermal system and deeper parental porphyry
Cu-Mo-Au open to the North North East at Chinchillones area.
The geological team is currently working on detailed re-logging
of the Phase 2 drill core and mapping, together with the review of
all the available structural and geochemical data in order to
assist on targeting for the next Phase 3 drill program that is
being designed and scheduled to commence during the first half of
2021.
Conceptual Geological Model
Different magmatic-hydrothermal breccias observed at Chita and
Chinchillones reflect a complex sequence of multiple events that
can be linked to explosive events developing in the upper parts of
the porphyry system during their emplacement, uplift and unroofing.
In fact, at Chita and Chinchillones, a large part of the evolution
of this porphyry system would have developed in a tectonic
framework characterized by the occurrence of high rates of regional
tectonic uplift and erosion, which would have favored the
generation of telescoping processes related to mineralization
process and the formation of the diatreme complex.
Quality Assurance/Quality Control
All core samples were submitted to the ALS Laboratories in
Mendoza, Argentina for preparation
and analysis. All samples were analyzed for Au by fire assay/ AA
finish 50g, plus a 48-element ultra-trace four acid digest with
ICP-MS and ICP-AES finish. Minsud followed industry standard
procedures for the work with a quality assurance/quality control
(QA/QC) program. Field duplicates, standards and blanks were
included with all sample shipments to the principal laboratory.
Minsud detected no significant QA/QC issues during review of the
data.
Mr. Mario Alfaro, Professional
Geoscientist, VP-Exploration of the Company, is a qualified person
as defined by Canadian National Instrument 43-101. Mr. Alfaro
visited the property and has read and approved the contents of this
release.
About the Chita Valley Project, San Juan Province:
The Chita Valley Project is a large exploration stage porphyry
system with classic alteration features, widespread porphyry style
Cu-Mo-Ag-Au mineralization and associated gold and silver-bearing
polymetallic veins of intermediate sulfide composition that
conformed an outcropping porphyry system at Chita and a lithocap of
a porphyry system at Chinchillones. San Juan Province of
Argentina has a robust mining
sector and recognizes the important economic benefits of
responsible development of its substantial Mineral Resource
endowment.
About Minsud Resources Corp.
Minsud is a mineral
exploration company focused on exploring its flagship Chita Valley
Cu-Mo- Au-Ag Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned
portfolio of selected early stage prospects, including 6,000 ha in
Santa Cruz Province, Argentina.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION:
This news release includes certain information that may
constitute forward-looking information under applicable Canadian
securities laws. Forward-looking information includes, but is not
limited to, statements about strategic plans, spending commitments,
future operations, results of exploration, anticipated financial
results, future work programs, capital expenditures and objectives.
Forward-looking information is necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking information including, but not limited to:
fluctuations in the currency markets (such as the Canadian dollar,
Argentina peso, and the U.S.
dollar); changes in national and local government, legislation,
taxation, controls, regulations and political or economic
developments in Canada and
Argentina or other countries in
which the Corporation may carry on business in the future;
operating or technical difficulties in connection with exploration
and development activities; risks and hazards associated with the
business of mineral exploration and development (including
environmental hazards or industrial accidents); risks relating to
the credit worthiness or financial condition of suppliers and other
parties with whom the Company does business; presence of laws and
regulations that may impose restrictions on mining, including those
currently enacted in Argentina;
employee relations; relationships with and claims by local
communities; availability and increasing costs associated with
operational inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining
necessary licenses, permits and approvals from government
authorities; business opportunities that may be presented to, or
pursued by, the Company; challenges to, or difficulty in
maintaining, the Company's title to properties; risks relating to
the Company's ability to raise funds; and the factors identified
under "Risk Factors" in the Company's Filing Statement dated
April 27, 2011. There can be no
assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. All
forward-looking-information contained in this news release is given
as of the date hereof and is based upon the opinions and estimates
of management and information available to management as at the
date hereof. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, except as
required by law.
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accuracy of this release.
SOURCE Minsud Resources Corp.