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"San José represents one of the largest and highest-grade new vein zones we've found at Alamos, with grades and widths that bode well for the potential at depth and along strike," president and CEO Darrell Rader said.
The San José vein is in the western portion of the 311ha Claraboya concession, which Minaurum acquired last month for a one-off payment of US$50,000.
This latest acquisition, in the western part of Alamos, takes the project in southern Sonora state to 16,445ha.
The company has a minimum 5,000m of drilling underway at Alamos and Rader said he expected to test the new target in the current programme.
Minaurum has about C$7.5 million (US$5.7 million) in cash, according to a recent presentation.
Its shares were trading around C25c a year ago and touched 67c in June, but closed unchanged yesterday at 52c to capitalise it close to $141 million.
