Minsud Resources Corp.

September 06, 2011 13:58 ET

Minsud Intercepts 11.33 g/t Gold Over 3.0 m on the Chita Copper-Molybdenum Porphyry and Strongly Suggests Telescoped Porphyry-Epithermal System on Chita Valley Property

TORONTO, ONTARIO--(Marketwire - Sept. 6, 2011) - Minsud Resources Corp. (TSX VENTURE:MSR) ("Minsud" or the "Company") is pleased to announce results from Phase I drilling program at the Chita Valley Project in Argentina strategically located in the world-class El Indio mining district of Chile and Argentina where the Pascua-Lama and Veladero mines (Barrick) and the Del Carmen project (Malbex Resources) are located.

Drill hole PSu1101 on Chita porphyry intercepted gold-rich epithermal veins returning 3.0 m with 11.33 g/t gold and 29.02 g/t silver (including 1.0 m with 32.29 g/t Au and 36.10 g/t Ag); a wider interception of 6.0 m with 1.30 g/t Au and 67.0 g/t Ag (including 1.0 m with 2.29 g/t Au and 265.83 g/t Ag), and a long copper-moly interval within an stockwork-style sericite+potassic alteration zone that stops due to a post-mineral breccia at the bottom of the drill hole, returning 98.0 meters with 0.23% copper and 0,03% molybdenum. Drill hole PSU1101 also exhibits a long mineralized intercept returning 283.0 m averaging 0.13 % copper and 0.03 % molybdenum. (See map on Exhibit I)

Chita Porphyry:

Target Hole ID From
PORPHYRY CHITA PSu1101 0.0 283.0 283.0 0.13 0.03
PSu1101 7.0 10.0 3.0 11.33 29.02
including 9.0 10.0 1.0 32.29 36.10
PSu1101 14.0 16.0 2.0 0.27 23.22
PSu1101 47.0 145.0 98.0 0.23 0.03
including 47.0 92.0 45.0 0.30 0.03
including 59.0 60.0 1.0 0.11 58.66
including 114.0 120.0 6.0 1.30 67.00
including 115.0 116.0 1.0 2.29 265.83
PSu1101 277.0 278.0 1.0 0.00 50.50

Roberto Milanese, Minera Sud Argentina S.A. VP Exploration said "It is remarkable the high gold and silver grade suggesting telescoping of an epithermal veins set within the Chita Porphyry system and the persistency of the copper-molybdenum content in the porphyry, which warrants further exploration."

Mr. Carlos Massa, President and CEO, encouraged by the positive finding, said "we are looking forward to complete Phase I drilling program at the Fatima vein's gold target (Target Minas de Pinto), in order to review and redefine Phase II drilling program."

Mr. C. Gustavo Fernandez, Professional Geoscientist in the Province of Ontario, is the Qualified Person as defined by NI 43-101. Mr. Fernandez has read and approved the contents of this release.

To view "Exhibit I: Drilling Program Targets Phase I", please visit the following link: http://media3.marketwire.com/docs/Exhibit906.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, 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 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Minsud Resources Corp.
    Carlos Massa
    President and Chief Executive Officer