|By Marketwired .||
|January 30, 2014 05:22 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/30/14 -- Minsud Resources Corp. (TSX VENTURE: MSR) ("Minsud" or the "Company") announces geological mapping and surface channel sampling results from the Minas de Pinto sector of the Chita Valley diatreme volcanic vent/porphyry complex (the "Chita Valley Complex").
The following is an update on recent exploration work conducted in the Minas de Pinto sector of the Chita Valley Project (the "Project") located in San Juan Province, Argentina. The Project is a large exploration stage Tertiary diatreme volcanic vent/porphyry complex with classic alteration features, widespread porphyry style Cu-Mo-Ag-Au mineralization, and associated gold and silver-bearing veins.
The Minas de Pinto sector is essentially an easterly trending swarm of discontinuous quartz veins containing variable concentrations of polymetallic sulphides and widespread localized Au-Ag mineralization that has been traced for 4.0 kilometers along strike. This is part of the 12 km strike length Chita Valley Complex trend. The vein swarm cuts various lithologies including Devonian-Carboniferous sediments (Agua Negra Formation), Carboniferous-Permian granodiorite (Colanguil Batholith), and Mid to Upper Tertiary volcaniclastics and andesitic porphyry (Chita Valley Complex). Several corridors comprising multiple veins and stockworks are present. In the western part of the area, from north to south, these are termed; the Barba, Amparo, Fatima, Fatima Sur, Branca, Maria, Carmen and Carmen Sur vein assemblages. In the east and south parts of the area are additional corridors including the Candela, Johanna, Esperanza, Josephina, Argentina, Pulenta and Glenda vein sets.
The Minas de Pinto corridor contains various artisanal diggings of unknown age and an early 20th Century exploration adit. Silex Argentina S.A., an unrelated company, optioned the Minas de Pinto property in the mid-2000's, completing extensive geological mapping and surface grab and channel sampling for a total of 1,631 samples by 2007. In 2008 the company drilled 22 diamond drill holes totalling 2,631.25 metres. The full data set pertaining to the latter work was turned over to the property owner upon termination of the option agreement. In 2011, Minsud completed two diamond drill holes totalling 435.5 metres to test the earlier results, with one (CHT11-24) being a twin of previous hole CHT-004 (see press release dated February 9, 2012). The current program includes detailed geological and alteration mapping together with selective surface channel sampling.
Exploration Work in 2013
Minsud's current strategy for the Project is primarily geological mapping (Map 1), alteration studies (Map 2) with selective sampling and ground magnetic surveying (Map 3).
The Agua Negra Formation exposures in the Minas de Pinto sector are predominantly shallow marine black shales and siltstones with subordinate sandstone/quartzite layers. The Agua Negra Formation is intruded by the Carboniferous-Permian granodiorite (Colanguil Batholith) in parts of the study area or juxtaposed by late faults in others. The Tertiary Chita Valley Complex in the area comprises three main lithological units including mafic volcaniclastic rocks, andesitic porphyry and porphyritic andesite dykes that cut both units.
To view Maps 1-3, please click the following link: http://media3.marketwire.com/docs/MinMaps1-3.pdf
More detailed maps are available on the Company's website at www.minsud.com.
Mid to Upper Tertiary mafic to intermediate volcaniclastics and andesitic porphyry of the Chita Valley Complex are exposed in the western half of the map area. Three lithological units have been mapped: andesite porphyry, mafic volcaniclastics and late andesitic porphyry dykes that cut both previous units.
The distribution of alteration features is summarized as follows:
-- Agua Negra Formation units are characterized by weak silicification with areas of moderate to strong argillic alteration in the vicinity of epithermal vein systems and possible intrusions at depth. -- Colanguil Batholith granodiorite is exposed in two areas. The southern exposure is characterized by moderate argillic alteration while the northern area is weakly to strongly silicified with an area of moderate argillic alteration near the northern property boundary. -- The Chita Valley Complex andesite porphyry units are moderate to strongly silicified with localized argillic alteration bordering vein systems. The mafic volcaniclastics in the north-western corner of the map area are typified by moderate propylitic alteration.
Structurally the Chita Valley area is part of the Andean Frontal Cordillera and is typified by upright concentric folding and thrust faulting. The Chita Valley Complex is exposed along an ENE trending corridor of epizonal intrusions, hydrothermal alteration, breccias and mineralized vein systems. The system is interrupted by a set of NNW oriented set of sinestral faults or shears. Finally a late sinestral fault system runs NW to E-W along the Chita Valley.
The 2012 Minsud magnetic survey has covered about half of the Minas de Pinto area (Map 3). Even at relatively wide 200 metre line spacing, the magnetic data clearly illustrates the main structural directions as well as several important lithological/alteration features. The magnetic high feature in western part of the map shows the eastern part of the previously described Chita South and North porphyry sectors. Proceeding eastward a group of additional magnetic highs (indicated by numbers 1 to 4 on the map) are discussed as follows:
1. This feature is coincident with outcropping Tertiary post-mineral dacitic porphyry near the Fatima Vein. 2. This feature coincides with outcrops of Tertiary andesitic volcaniclastic rocks intruded by post- mineral andesitic dykes, so it could indicate a porphyry body at depth. 3. Anomaly 3 likely indicates a hitherto unknown Tertiary or possibly Permo-Carboniferous intrusive body at depth beneath Agua Negra Formation cover rocks. This anomaly, like others in the Chita valley, occupies the core of a prominent cylindrical or concentric-fold feature herein termed the Pinto Anticline Hill anticline. Further evidence for a buried intrusion here is localized porphyry dykes and extensive areas of spotted and banded hornfels in Agua Negra sediments. 4. Sector 4 shows a two fairly large and several localized magnetic high features that have not yet been investigated.
The main inference to be drawn from the magnetic data is that the Chita Valley Complex continues to be traceable eastward to the limits of current data.
The 2013 geochemical sampling program consisted of 43 sawn channel sample sections for a cumulative total of 526 samples. Sampling highlights including all sections averaging greater than 1 g/t Au or greater than 30 g/t Ag are shown in Table 1. Maps showing the various sample locations and the distribution of gold and silver values are available on the company's website.
To view Table 1, please click the following link: http://media3.marketwire.com/docs/MinTable-1.pdf
All surface rock samples were submitted to the Alex Stewart (Assayers) Argentina S. A. laboratory in Mendoza, Argentina for preparation and analysis. The laboratory is certified to ISO-9001 international standards. All geochemical grab and channel rock samples were analyzed for Au by fire assay/ AA finish, 50 g, (Au4-50) plus a 39-element ICP scan (AR-39).
Conclusions and Recommendations
Two important conclusions may be drawn from the 2013 work on the Minas de Pinto Property:
1. With respect to sediment-hosted vein-type mineralization, the relatively competent and brittle sandstone stratigraphic horizons within the Agua Negra Formation are more conducive to hosting mineralized veins and breccias than the more plastic finer grained shales and siltstones. Thus it is postulated that the intersections between the various sub-vertical vein structures and the shallow to moderately dipping sandstone units might be favourable locations for economically significant Au-Ag concentrations. 2. With respect to igneous-hosted porphyry and epithermal mineralization, the recent mapping and 2012 magnetic data combine to indicate unexposed but relatively near surface potential host rocks for these important mineral deposit styles.
The recommended ongoing work program in the Minas de Pinto area is threefold:
1. A short to medium term objective to further develop some of the more promising targets such as the Argentina, Carmen, and Pulenta Vein target areas to the outline drilling stage if warranted. This will require more accurate survey control than is currently available utilizing DGPS methodology, detailed geological mapping at 1:500 scale, mechanical trenching for mapping and sampling purposes, careful geological and structural analysis to develop drilling targets, and finally, if warranted, the implementation of a drilling program. 2. In the short term, to continue the systematic mapping and sampling program into the remainder of the property. 3. In the medium to long term, to conduct geophysical surveys including additional magnetic surveying together with IP/Resistivity and/or other surveys, as warranted, to develop porphyry and epithermal mineralization targets in both Tertiary and Permo-Carboniferous intrusive bodies.
Mr. Howard Coates, Professional Geoscientist, Director and Vice President Exploration of the Company and a geological consultant, is a qualified person as defined by 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: "Even under very difficult market conditions Minsud was able to develop a systematic exploration approach for the Chita Valley Project, mapping and sampling the main areas of interest during 2012 -2013. We expect increased challenges for 2014 in advancing the exploration of this enigmatic complex of 12 km long and 2 to 4 km wide corridor featuring three outcropping multiphase porphyries, extensive alteration features and literally hundreds of epithermal veins."
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, as well as advancing its La Rosita gold and silver project at the Deseado Massif - Santa Cruz Province, Republica Argentina. The Company also holds a 100% owned portfolio of selected early stage prospects, approximately 60,000 hectares distributed within the Provinces of Santa Cruz, Chubut and Rio Negro, Republica Argentina.
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.
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.
The consumption economy is here and so are cloud applications and solutions that offer more than subscription and flat fee models and at the same time are available on a pure consumption model, which not only reduces IT spend but also lowers infrastructure costs, and offers ease of use and availability. In their session at 15th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed this shifting dynamic with an ...
May. 29, 2015 02:00 AM EDT Reads: 3,237
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackI...
May. 29, 2015 01:00 AM EDT Reads: 4,537
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT transformation?
May. 29, 2015 12:00 AM EDT Reads: 4,288
You use an agile process; your goal is to make your organization more agile. But what about your data infrastructure? The truth is, today's databases are anything but agile - they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application an...
May. 29, 2015 12:00 AM EDT Reads: 3,491
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
May. 28, 2015 11:15 PM EDT Reads: 2,233
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
May. 28, 2015 11:00 PM EDT Reads: 6,037
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
May. 28, 2015 10:30 PM EDT Reads: 583
Move from reactive to proactive cloud management in a heterogeneous cloud infrastructure. In his session at 16th Cloud Expo, Manoj Khabe, Innovative Solution-Focused Transformation Leader at Vicom Computer Services, Inc., will show how to replace a help desk-centric approach with an ITIL-based service model and service-centric CMDB that’s tightly integrated with an event and incident management platform. Learn how to expand the scope of operations management to service management. He will al...
May. 28, 2015 10:00 PM EDT Reads: 1,444
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
May. 28, 2015 09:00 PM EDT Reads: 4,952
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
May. 28, 2015 07:00 PM EDT Reads: 5,814
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
May. 28, 2015 06:00 PM EDT Reads: 4,008
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
May. 28, 2015 05:00 PM EDT Reads: 1,656
T-Mobile has been transforming the wireless industry with its “Uncarrier” initiatives. Today as T-Mobile’s IT organization works to transform itself in a like manner, technical foundations built over the last couple of years are now key to their drive for more Agile delivery practices. In his session at DevOps Summit, Martin Krienke, Sr Development Manager at T-Mobile, will discuss where they started their Continuous Delivery journey, where they are today, and where they are going in an effort ...
May. 28, 2015 04:45 PM EDT Reads: 1,419
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
May. 28, 2015 04:00 PM EDT Reads: 3,191
There is no question that the cloud is where businesses want to host data. Until recently hypervisor virtualization was the most widely used method in cloud computing. Recently virtual containers have been gaining in popularity, and for good reason. In the debate between virtual machines and containers, the latter have been seen as the new kid on the block – and like other emerging technology have had some initial shortcomings. However, the container space has evolved drastically since coming on...
May. 28, 2015 03:30 PM EDT Reads: 1,345