Minsud Resources Corp. announces that in the coming month it will commence an 11 hole, 1,700 meter HQ diamond drilling program 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 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.
Minsud retained P&E Mining Consultants Inc. ("P&E") to complete independent National Instrument 43-101 ("NI 43-101") Technical Reports and Mineral Resource Estimates on the Chita Deposit. The Mineral Resource Estimates considers copper as a primary consideration along with molybdenum, gold and silver mineralization The latest estimate (filed on SEDAR on February 1, 2016 includes Inferred Resources of 31.5 million tonnes at a grade of 0.45% Cu, 0.07 g/t Au. 2.2 g/t Ag and 0.017% Mo. (Figure 1)
Figure 1: Chita conceptual pit constrained Inferred Resources diagram (oblique view looking NW):http://media3.marketwire.com/docs/Min817a.jpg
The first half of 2016 saw detailed mapping of epithermal Au/Ag vein areas in the Chita Porphyry mostly inside the Inferred Resources wireframe model. Similar detailed mapping will continue to the west and east into the Chinchillones and Minas de Pinto areas, respectively. The current Diamond Drilling program is planned to continue outlining the Inferred resource of Cu-Mo-Au-Ag and also as a preliminary test of epithermal veins in the porphyry (Figure 2). The precious metal veins are believed to have potential complementary benefits to the deposit's economic model either as discrete high grade areas of direct shipping material or as broader sectors of elevated Au/Ag inside the Cu wireframe (Figure 3).
Figure 2: Chita Porphyry Surface Geology Map with Drill Hole Locations: http://media3.marketwire.com/docs/Min817b.jpg
Figure 3: Chita Porphyry Surface Plan with Epithermal Veins, Resource Model Outline and Drill Hole Locations:http://media3.marketwire.com/docs/Min817c.jpg
Finally, the Company plans a series of initial metallurgical tests on Chita Deposit mineralization. These will be based on the results of previously completed diagnostic tests plus mineralogical and petrographic studies.
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: "We are proud of having Minsud ready for drilling again. This demonstrates the effort of our team in managing the company well financed, even during very difficult times, and exploring systematically. We also have to thank our shareholders that supported the company with a long term vision. Minsud is now well prepared to intensify the exploration at the Chita Valley Project."