Exploration Update On Chita Valley Cu-Mo-Ag-Au Project, San Juan, Argentina
Minsud Announces Phase 1 Diamond Drilling Results From Chita Porphyry Area
TORONTO, ONTARIO–(Marketwire – Jan. 26, 2012) – Minsud Resources Corp. ("Minsud" or the "Company") (TSX VENTURE:MSR) is pleased to announce an update on recent diamond drilling conducted on the Chita Porphyry sector of the Chita Valley Project (the "Project") located in San Juan Province, Argentina. The Project is a large exploration stage porphyry situation with classic alteration features, widespread porphyry style Cu-Mo-Ag-Au mineralization, and associated gold and silver-bearing polymetallic veins.
As part of a drilling campaign, three drill holes, Psu11-01 to 03 inclusive, were completed to further test known Cu-Mo mineralization in the Chita Porphyry area. Unlike a few historical vertical drill holes in the area, the Minsud holes were inclined at -45o to test for possible sub-vertical precious metal bearing veins that were identified in outcrop. The 2011 drilling has shown that such Ag-Au veins are locally present in the wider porphyry Cu-Mo sections and may be incrementally significant to overall mineralization quality.
The three holes all encountered broad zones of Cu-Mo mineralization with localized Ag-Au concentrations. The following table shows the general analytical results for the three drill holes including the Cu-Mo-Ag-Au weighted averages and the localized areas with elevated Ag-Au values. Significantly elevated Mo values were noted in the lower part of drill hole PSu11-03 as well.
|2011 CHITA PORPHYRY DRILL HOLE ASSAY AVERAGES|
The mineralization is associated with a Miocene monzodiorite porphyry stock dated at 12 Ma intruded into an earlier assemblage comprising Triassic granodiorite and Carboniferous sediments. The porphyry style mineralization consists of disseminations, fracture fillings and stockwork type quartz-chalcopyrite- pyrite-molybdenite mineralization. The country rocks adjacent to the Chita South Porphyry and other porphyry stocks and dykes on the Property commonly contain widespread polymetallic veins that are locally enriched in gold and silver. Both porphyry and country rocks exhibit an array of hydrothermal/epithermal alteration features.
Detailed geological and alteration studies as well as extensive prospecting and rock sampling are currently being undertaken by the Company. It is anticipated that ground geophysical surveying, in particular magnetic and Induced Polarization/resistivity surveys will be required to effectively define further drilling targets.
Mr. Carlos Massa, Minsud's President and CEO stated; "After completing this Phase I drilling program as planned, we are very pleased about the results obtained confirming the quality of these assets and we are excited by the challenge of advancing the exploration onward".
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.
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, Argentina.
Additionally, the Company holds a portfolio of approximately 75,000 ha of 100% owned exploration properties in Patagonia. Most of the key properties held by the Company are located in mining friendly provinces like San Juan and Santa Cruz, Argentina.
Quality Assurance/Quality Control: Drill core samples were submitted to Alex Stewart (Assayers), Argentina S.A. an ISO 9000-2000 accredited laboratories located in Mendoza, Argentina. Gold and silver results were determined using standard fire assay techniques on a 50 gram sample with a gravimetric finish for gold and silver. Minsud´s QA/QC program includes the insertion of blanks, standards and duplicates into the sample stream for Chita drill holes.
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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