MONTREAL, June 01, 2018 (GLOBE NEWSWIRE) -- Auxico Resources Canada Inc. (CSE:AUAG) is pleased to announce that the Company has discovered three historical mines containing unrecognized shafts and pits located along the Zamora Vein, including the La Campeona mine, which returned 30 cm of 10.1 g/t gold and 941.7 g/t silver. These discoveries extend the Zamora Vein and the parallel El Obatel Vein over a strike length of at least 800 metres. The Zamora Silver-Gold Property located in Sinaloa, Mexico, and is 100% owned by Auxico Resources Canada.
The Company discovered a report that was written in 1982 by Antonio Flores Martinez and Marco Bustamante Yanez who were both employed at the time with the Consejo de Recursos Minerales (Mexican Council of Mineral Resources, “CRM”) and included all of the rehabilitation work done by the CRM on the Camichina Shaft, which gained access to the Los Olotes orebody. As well, this report documented all of the historic workings within a 1000m by 600m grid. Just recently, Auxico’s management found a map showing all of this information in the archives.
This map below provides information on three historic workings previously unknown, however well documented: El Tacomate, El Arroyito, and La Campeona. According to the information on the map, El Tacomate is located approximately 280m southwest of the Camichina Shaft along strike of the Zamora Vein where historic silver grades were in the kilograms per tonne and gold grades in several ounces per tonne. El Tacomate contains a 20cm wide sample of 0.70 g/t Au & 107.2 g/t Ag. El Arroyito, located about 325m southwest of La Camichina, returned 0.9m of 1.9 g/t Au & 413.3 g/t Ag. La Campeona, which is located on the north side of the Zamora River, returned 30cm of 10.1 g/t Au & 941.7 g/t Ag, almost a kg/t, which is not uncommon on the Property as has been previously tested and demonstrated by the Qualified Person in other areas within the Property limits. Of particular interest is the location of La Campeona, which coincides with some historical workings known as Rosa Maria, which the Company believes may be an old townsite, and a collapsed shaft indicating that mining was conducted here some time ago, and according to the structures, which still remain on surface, it appears to be from the early 1800’s and mined by the Spaniards. As well, there were signs of an Arrastra at Rosa Maria, which is a primitive mill for grinding and pulverizing gold or silver ore. The simplest form of the Arrastra is two or more flat-bottomed drag stones placed in a circular pit paved with flat stones, and connected to a center post by a long arm. This artisanal mill that would have been operational at that time processing the ore from underground, and a circular area with finely pulverized material are present beside what management believes to be a collapsed shaft. There are also historical workings on the south side of the Zamora River, which would indicate a possible strike length of the Zamora Vein for at least 800m. The El Obatel Vein, which is about 30m to the northwest of the Zamora Vein and parallel appears to extend for at least 700m along strike.
Auxico is anxious to conduct a detailed exploration and development campaign in this area, which would include substantial diamond drilling in order to prove up a resource along this 800m long silver-gold structure.
Qualified Person
This news release was reviewed and approved by Joel Scodnick, P.Geo., an independent consultant to Auxico, in his capacity as a Qualified Person, as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
« signed »
Pierre Gauthier
Chairman & CEO, Auxico Resources Canada Inc.
Cell: +1 514 299 0881
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. (“Auxico”) is a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia and Mexico.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
To view the maps associated with this press release, please visit the following links:
http://www.globenewswire.com/NewsRoom/AttachmentNg/3d7c184a-3747-4240-a0fe-5ae67ee6b529
http://www.globenewswire.com/NewsRoom/AttachmentNg/75675940-a93d-40bc-8f7d-98f9b0ec163d