Minsud Resources Corp. (TSX-V: MSR) is pleased to announce the receipt of assay results from five additional drillholes, which were completed as part of the ongoing Phase IV infill and scout drilling program at the Chita Valley Project, San Juan Province, Argentina.
Drilling has resumed on the infill drilling program covering an area of approximately 2.5 square kilometres, for the purpose of generating a Mineral Resource Estimate on the Property. This area represents the primary mineralized zone within the Chinchillones target, as delineated through drilling.
From February 2024, continued drilling in Phase IV focused along the NE-trending corridor at the eastern end of the Chinchillones target. To date, Minsud has completed 8,856m in 14 drillholes during the first half of 2024. Assays have been received for drillholes CHDH24-99 to CHDH24-103, totaling 3,736.6m and are reported here.
Key highlights and associated figures are provided below. Drilling results are summarized in Table 1. Drillhole locations are shown in Map 1.
CHDH24-102 was drilled with an orientation of 315°/-65° to a depth of 743.70 metres:
CHDH24-103 was drilled with an orientation of 315°/-65° to a depth of 850 metres:
Chichillones Infill Drilling Program Update
MSA continues the Chinchillones infill drilling program covering an area of approximately 2.5 square kilometres, for the purpose of generating a mineral resource estimate on the Property.
The program comprises 27,488 metres of diamond drilling, distributed in 32 drillholes. A total of 13 drillholes totaling 9,838 metres (CHDH23-86 to CHDH23-98) were completed by the end of 2023, while an additional 8,856m in 14 drillholes was completed during the first half of 2024, for a total of 18,694 metres completed to date in the infill program. Grid interval/hole spacing is currently set at approximately 100 metres. The average depth of the planned drilling is approximately 800 metres.
Continued infill drilling program was mainly concentrated in the SW-NE corridor at the eastern end of the Chinchillones target. Drilling tested the lateral and depth continuity of the higher-grade Cu-Au body intersected from previously reported drillholes CHDH23-73 and CHDH23-62. Further drilling is intended to outline the geometry of this Cu-Au body, with CHDH22-62 to -69 and CHDH23-96 associated with the eastern edge of the dome. The remainder of the infill program of approximately 17,650 metres is expected to be completed by Q3 2024.
Completed 2024 Roadmap Items:
Ongoing 2024 Roadmap Items:
Ramiro Massa, Minsud’s President & CEO, said: “After a brief hiatus in our drilling program and, of course, a well-deserved respite for our hard-working drilling and geological teams, drilling at Chinchillones resumed on February 15. Likewise, the continuous flow of highly encouraging results from the Chinchillones infill program has resumed as well. As we move forward into the second half of 2024, we anticipate several exciting developments, including the completion of an updated resource estimate.”
Table 1: Phase IV Diamond Drilling Program – Summary of Results
Hole ID | From (m) | To (m) | Interval (m) (*) |
Cu (%) | Au (g/t) | Ag (g/t) | Mo (ppm) |
Pb (ppm) |
Zn (ppm) |
CHDH23-99 | 228.00 | 386.00 | 158.00 | 0.18 % | 0.11 | 8.96 | 9 | 672 | 6912 |
Inc | 292.00 | 362.00 | 70.00 | 0.30 % | 0.15 | 11.79 | 10 | 232 | 11594 |
404.00 | 756.00 | 352.00 | 0.15 % | 0.08 | 2.42 | 54 | 34 | 470 | |
CHDH23-100 | 422.00 | 558.00 | 136.00 | 0.11 % | 0.16 | 9.82 | 7 | 1319 | 6904 |
Inc | 460.00 | 498.00 | 38.00 | 0.02 % | 0.07 | 6.16 | 3 | 1741 | 9073 |
572.00 | 672.00 | 100.00 | 0.54 % | 0.28 | 4.09 | 21 | 76 | 253 | |
Inc | 628.00 | 672.00 | 44.00 | 0.89 % | 0.44 | 3.69 | 32 | 46 | 212 |
774.00 | 827.60 | 53.60 | 0.25 % | 0.06 | 2.16 | 137 | 25 | 239 | |
CHDH23-101 | 66.00 | 134.00 | 68.00 | 0.11 % | 0.10 | 11.96 | 30 | 963 | 2882 |
176.00 | 340.00 | 164.00 | 0.07 % | 0.05 | 1.27 | 50 | 41 | 246 | |
CHDH23-102 | 216.00 | 743.70 | 527.70 | 0.26 % | 0.05 | 9.70 | 50 | 422 | 1621 |
Inc | 386.00 | 394.00 | 8.00 | 3.85 % | 0.36 | 188.60 | 5 | 2840 | 12787 |
CHDH23-103 | 55.00 | 242.00 | 187.00 | 0.12 % | 0.09 | 13.46 | 58 | 548 | 4307 |
466.00 | 850.00 | 384.00 | 0.33 % | 0.05 | 5.85 | 85 | 193 | 683 | |
Inc | 548.00 | 563.00 | 15.00 | 2.47 % | 0.22 | 30.13 | 47 | 281 | 1588 |
* intervals reported in the above table are not true thicknesses
Quality Assurance/Quality Control
All core samples were submitted to the ALS Global 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.
Qualified Person Statement
Case Lewis, P.Geo., VP Exploration of the Company, is a Qualified Person (QP) as defined by Canadian National Instrument 43-101. Mr. Lewis has 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-Au and polymetallic Ag-Pb-Zn mineralization hosted by hydrothermal phreatic breccias and associated gold and silver-bearing polymetallic veins of intermediate sulphide 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.
Current exploration activities on the Chita Valley Project are being funded by South32 Limited (“South32”) in accordance with the earn-in agreement between the parties entered into on November 1, 2019 as amended.
On April 5, 2024, Minsud completed the issue to a wholly-owned subsidiary of South32 of a 50.1% shareholding in Minera Sud Argentina S.A. (“MSA”), Minsud’s indirect Argentinian subsidiary that holds and operates its flagship Chita Valley Project. The issue was made in accordance with South32’s earn-in right under the earn-in agreement dated November 1, 2019.
About Minsud Resources Corp.
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company’s shares are listed on the TSX-V under the trading symbol “MSR”, and on the OTCQX under the symbol “MDSQF”.
About South32 Limited
South32 is a globally diversified mining and metals company. South32’s purpose is to make a difference by developing natural resources, improving people’s lives now and for generations to come. South32 is trusted by its owners and partners to realise the potential of their resources. South32 produces commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from its operations in Australia, Southern Africa and South America. South32 also has a portfolio of high-quality development projects and options, and exploration prospects, consistent with its strategy to reshape its portfolio toward commodities that are critical for a low-carbon future.
Map 1: Phase IV Drillhole Locations (CNW Group/Minsud Resources Corp.)
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