Minsud Resources Corp.: Exploration Update Chita North Porphyry Sector, Chita Valley Cu-Mo-Ag-Au Project, San Juan, Argentina
TORONTO, ONTARIO -- (Marketwired) -- 05/23/13 -- Minsud Resources Corp. ("Minsud" or the "Company") (TSX VENTURE:MSR) announces exploration results from the Chita North Porphyry area of the Chita Valley diatreme volcanic vent/porphyry complex.
The following is an update on recent exploration work conducted on the Chita North sector of the Chita Valley Project (the Project") located in San Juan Province, Argentina. The Project is a large exploration stage diatreme volcanic vent/porphyry complex with classic alteration features, widespread porphyry style Cu-Mo-Ag-Au mineralization, and associated gold and silver-bearing polymetallic veins.
Exploration Work First Quarter 2013
The current exploration program represents a balance between systematic multidisciplinary exploration and prudent use of limited funding in a poor financial market. As a result Minsud is currently concentrating primarily on the continuation of systematic detailed geological mapping and alteration studies with selective surface sampling.
The strategy is to continue expanding the areas covered by detailed mapping to eventually include the entire Chita Valley Properties area. Lithological, alteration, structural and mineralization studies that initially focused on the Chinchillones and Chita South Porphyry areas are being expanded to include other nearby sectors (Chita North Porphyry, Breccias Ridge, Placetas Porphyry, Romina and Minas de Pinto) to eventually produce a coordinated exploration and mineral deposits model for the entire property.
Chita North Porphyry
A program of semi-continuous weathered surface bedrock sampling employing a combination of sawn channel samples and composite chip channel samples was completed in Q1 2013. Four semi-continuous sampling profiles were completed (NPry-13-01, 02, 03 and 05) with a total of 135 geochemical samples with a cumulative sampling length of 325 metres. All samples were submitted to the Alex Stewart (Assayers) Argentina S. A. laboratory in Mendoza, Argentina for preparation and analysis. The laboratory is certified to ISO-9001 international standards. All geochemical grab and channel rock samples were analyzed for Au by fire assay/ AA finish, 50 g, (Au4-50) plus a 39-element ICP scan (AR-39).
Sampling profiles NPry-13-01, 02 and 03 were designed to provide an initial evaluation of the substantial areas of jarosite-pyrite alteration near the porphyry-andesite contact zone. The generally NE oriented altered zone is characterized by concentrations of veins, breccias and stockworks. Trench NPry-13-05 which lies outside of the stronger alteration and mineralization is used to determine local geochemical background values.
In general the geochemical results indicate anomalous concentrations of gold, silver and copper over significant intervals. In comparison to the previously reported channel sampling from the Chita South porphyry area these elements generally occur in similar to somewhat higher concentrations at Chita North. Molybdenum values on the other hand are substantially lower in the areas sampled at Chita North. As a general rule due to surface leaching, copper values at surface usually understate the contents of the underlying supergene enrichment and primary mineralization zones.
It is emphasized that the areas sampled constitute a very small portion of the mapped mineralization and in turn the exposed bedrock areas represent a similarly small portion of the Chita North sector. Therefore the combined historical exploration (two widely spaced drill holes) and Minsud's three modest surface trenches do not adequately test the area's mineral potential for epithermal or porphyry deposit types.
Maps showing detailed geology and alteration patterns as well as recent sampling sections are presented below. For more details please see our press releases related to this project in www.sedar.com or our Summary Report on Chita Valley Project- March 2013 in our website www.minsud.com. The results highlights from the three mineralized profiles and the local background profile are tabulated below.
Chita North Porphyry Channel Sampling Highlights -------------------------------------------------------------------------- From To Interval Au Ag Cu Mo --------------------------------------------------------------- Profile m m m g/t g/t % % -------------------------------------------------------------------------- NPry-13-01 0.00 68.00 68.00 0.06 2.80 0.018 0.005 -------------------------------------------------------------------------- NPry-13-02 0.00 56.00 56.00 0.15 2.30 0.022 0.004 -------------------------------------------------------------------------- includes 32.00 34.00 2.00 0.86 1.00 0.014 0.010 -------------------------------------------------------------------------- NPry-13-03 9.00 102.95 93.95 0.11 2.50 0.011 0.001 -------------------------------------------------------------------------- includes 33.00 33.45 0.45 1.56 28.90 0.088 0.001 -------------------------------------------------------------------------- NPry-13-03 126.95 174.95 48.00 0.08 3.60 0.015 0.001 -------------------------------------------------------------------------- NPry-13-05 0.00 26.00 26.00 0.01 0.00 0.005 0.001 --------------------------------------------------------------------------
Mr. Howard Coates, Professional Geoscientist, Director of the Company and a geological consultant, is a qualified person as defined by Canadian National Instrument 43-101. Mr. Coates visited the property and has read and approved the contents of this release. Mr. Coates states; "The early-stage detailed mapping, surface sampling programs and magnetometer survey work at Chita North continues to define the paleotectonic setting, mineralization models, structural features, alteration styles and general mineral deposit potential of the Chita North sector as well as the overall Chita Valley Project. These encouraging results indicate a need for further multidisciplinary exploration work in the area."
Carlos Massa Minsud's President & CEO, states: "We defined a modest but effective exploration program more than one year ago to systematically explore the Chita Valley Project. Fortunately every new target area is extending the mineral potential frontier as initially hoped."
To view the maps accompanying this press release please click on the following link: http://media3.marketwire.com/docs/MSR0523.pdf
About Minsud Resources Corp:
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Project, primarily for gold, silver and copper in San Juan Province, as well as advancing its La Rosita gold and silver project at the Deseado Massif - Santa Cruz Province, Republica Argentina. The Company also holds a 100% owned portfolio of selected early stage prospects, approximately 60,000 hectares distributed within the Provinces of Santa Cruz, Chubut and Rio Negro, Republica Argentina.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. 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 the risks identified in the Company's TSXV Filing Statement dated April 27, 2011 under the heading "Risk Factors". 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 press 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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