TORONTO, ONTARIO–(Marketwired – Sept. 8, 2015) – Minsud Resources Corp. (TSX VENTURE:MSR) (“Minsud” or the “Company”) announces that in the coming weeks it will commence a 22 hole, 5,300 meter HQ diamond drilling program primarily in the Chita Porphyry sector of the Chita Valley Project. The main objective is to continue outlining Cu-Au-Ag-Mo mineralization and Inferred Resources (see Company Press release dated May 28, 2015) at relatively shallow depth beneath the zone of surface weathering and oxidation. Better Cu values are typically associated with the zone of supergene enrichment and the transition to primary mineralization at depth. In all 19 drill holes totaling approximately 4,100 meters will test the Chita Porphyry area. See accompanying plan map below.
In the first half of 2015 Minsud completed an Induced Polarization/Resistivity geophysical survey over the Chinchillones Complex sector of the Project. This survey clearly identifies the known drill tested mineralized and barren areas, as well as a variety of new targets in overburden covered areas. Three diamond drill holes totalling approximately 1,200 metres are proposed as an initial test of two target areas:
- Two drill holes to test classical epithermal precious metals IP/Resistivity responses in the Chinchillones breccia area.
- One drill hole to test for remobilized Cu porphyry mineralization at a resurgent dome contact with early mineralized (EM) porphyry. IP chargeability response indicates concentrated sulphides in the contact area.
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.
Carlos Massa Minsud´s President & CEO, states: “First of all we wish to thank those investors, who share our medium-long term vision of the mining business, for continuing to invest in Minsud. We believe that good mining development projects will become scarce for a business chain that is not replacing reserve consumption worldwide. We are exploring now to be well positioned for the future.”
About the Chita Valley Project, San Juan Province:
The Chita Valley Project (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. San Juan Province 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 18,000 has in Santa Cruz Province, Argentina.
To view the plan map accompanying this press release, please visit the following link: http://media3.marketwire.com/docs/1024270.pdf
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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President and Chief Executive Officer