Video: Minaurum (MGG.V) may be finally ready to drill in the prolific Guerrero Gold Belt

POSTED ON March 24, 2015 BY James Fraser
CATEGORY Interviews, Minaurum Gold,

Mexican focused minerals explorer Minaurum Gold (MGG:TSXV) holds a portfolio of prospective gold projects and boasts an accomplished management team.

The company plans on drilling what they say is one of the last big undrilled outcrops in the Guerrero Gold Belt. The planned 7500m drill program is still waiting for a Mexican federal environmental permit and then will hopefully kick off in May.

Minaurum's Vuelcos Del Destino project borders the ground currently being drilled by Guerrero Ventures (TSX:GV). Geological features are similar to the Los Filos and Bermejal deposits according to Minarum's company presentation. The drill program will be led by senior geologist David Jones who vended the property to Minaurum and helped Goldcorp discover the nearby 8 million ounce Los Filos mine.

Despite a tremendous precious metals endowment, the Geurerro Gold Belt is becoming a bit of a scary place to operate. Torex Gold (TXG:TSX) and Goldcorp (G:TSX) have tragically seen some of their workers go missing there recently. This does not appear to deter Minaurum.

The company had working capital of $600,000 according to its latest corporate presentation, which means a financing is likely in the cards. According to the December 2014 (MD&A) I count ~27.7 million warrants at an exercise price of 5 cents expiring before January 2016. These now in-the-money warrants could be exercised and help top up the treasury.

Minarum has several other interesting projects, including the Santa Marta property, optioned to Lowell Copper (JDL.TSXV). When drills start turning at either of Minaurum's key properties, this is definitely an explorer to watch.

At the recent PDAC conference in Toronto, CEO.CA cameraman Carter Smith spent a few minutes talking to Darrell Radar, the CEO of Minaurum.

Here is a transcript of the above short video:

Darrell Radar, CEO, Minaurum, PDAC 2015

Well with Minaurum we put out some exciting news finally on Tuesday. We announced that we have received the social approval from the local community to drill our flagship project in the Guerrero Gold Belt.

About 3 years ago we basically took our stock up to almost the mid 90 cent range a $40 million market cap based on our discovery in the Guerrero.We are a company that is focused on the Guerrero Gold Belt. We have the last big undrilled outcrop there. Everything was going great in 2012 and we hit a permitting wall.

For the last 3 years we have been waiting to get our permits and we have finally got them. We are finally ready to drill and now in retrospect it may have been actually kind of a blessing because we are in a situation where the Guerrero Gold Belt has developed I think well beyond expectations. Even the expectations we had in 2012. In 2012 there were quite a few people that knew but not really the whole retail investor side of things.

A lot of the industry had just knew a little bit about the belt it was a 16 million ounce belt. As of today it is a 31 million ounce belt. We have a prime project in it. We are surrounded by Osisko Gold. Agnico took over Cayden to get into the belt recently. Just over a week ago Newstrike was purchased for $140 million dollars. It is serendipity we got our news just as everything's coming together in the belt.

We are looking forward to doing a very aggressive exploration program probably starting sometime in May. That would probably carry us through with news flow right through January or February of next year.

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This interview includes certain statements that may be deemed “forward looking statements”. All statements in this interview, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the “Company”) expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.

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James Fraser

Mr. Fraser joined CEO.ca in October 2014. He is passionate about the mining industry. His passion led to co-authoring the e-book "Mining Stocks Investor Guide: A Guide to Investing in Mining Companies." He has a finance background and has completed his Canadian Securities Course (CSC) and Conduct and Practices Handbook (CPH). When Fraser is not "digging" up the latest mining stock, he can be found enjoying a wide variety of sports or travelling the world. More →

Twitter: @miningstocks

james@miningstocksguide.com

James Fraser

Twitter: @miningstocks

james@miningstocksguide.com

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