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Madoro Metals Samples up to 12.35 G/T Gold And 1,250 G/T Silver from Newly Discovered Vein Complex at Yautepec Project

VANCOUVER, BC / ACCESSWIRE / July 6, 2021 / Madoro Metals Corp. ("Madoro" or the "Company"), a mineral exploration company focused on Oaxaca, Mexico, is pleased to provide an update on recent exploration results from its Yautepec project. As per the Company's press release of April 22, 2021, Madoro added three new mining concessions covering the southern extension of its project based on the Company's exploration model for bonanza-grade Au-Ag polymetallic epithermal systems in Oaxaca. Madoro had since followed up by dispatching its exploration team to map and sample the southern portion of its concessions and encountered a previously unknown 7-km trend of epithermal alteration and veining along the trace of the southern project of the Yautepec project supervolcano (caldera). Specific high-potential exploration targets in this area include the Tecolote, Tortuga-Guiluna, and Southern Dike-Tepeztate vein systems as illustrated below.

Highlights of assays recently received from these areas include:

  • 12.35 g/t Au and 1,250 g/t Ag from a 0.10 meter quartz vein grab sample within a 400 by 200 meter stockwork vein complex (‘Tecolote' zone)
  • 0.54 g/t Ag, 1630 ppm Cu, and 1.26 wt% Zn from a 0.10 meter vein within a 1.1 km dike and vein system; samples along this zone (‘Southern Dike') contain up to 0.30 g/t Au

(Summary geochemical tables for each area appended after text)

"Our recent push into unexplored areas at Yautepec has yielded solid and very positive results, uncovering multiple new mineralized centers, demonstrating proof of concept for our exploration model," said David Jones, Madoro Metals' Exploration Manager and Director. "A general characteristic of districts with a good potential for hosting economic ore bodies is that they look consistently better with work over time; this is certainly the case at Yautepec, and we look forward to continued good news from the field."

Of particular interest is that samples from the Tecolote and Southern Dike areas are at or near the level of fossil surface hot springs (i.e., a ‘paleosurface'), meaning the entire vertical run of potential bonanza epithermal grades is conserved at depth. Metal anomalies are characteristically weak to absent in rocks from paleosurface environments, and thus any anomalies are considered highly favorable as an exploration guide.

The Madoro team has since focused its exploration efforts along the continued western projection of this mineralized trend, the results from which will be in a subsequent news release.

The Yautepec project is associated with a large ‘supervolcano' (caldera) that lies within a larger 120-kilometer volcanic belt hosting both Fortuna Silver's (NYSE: FSM) San Jose mine and Gold Resources Corp. (AMEX: GORO) Arista-Switchback mine. The areas discussed in this release were recently discovered through systematic application of Madoro's exploration model for bonanza grade Au-Ag-polymetallic epithermal systems in Oaxaca.

Summary tables of geochemical results from recent rock chip sampling in the three newly discovered areas in southern Yautepec project follow (highly anomalous values in bold):

Tecolote Area Rock Chip Sampling Results (n = 34)

 ElementMaximum valueSamples with Significant valuesLithology of highest value sample

Precious metals

Ag1,250 g/t10 > 0.5 g/tEpithermal vein complex near paleosurface
Au12.35 g/t5 > 0.05 ppmEpithermal vein complex near paleosurface

Base metals

Cu66.6 ppm7 > 20 ppmQuartz vein breccia
Pb171 ppm6 > 20 ppmQuartz vein breccia
Zn232 ppm13 > 50 ppmOxidized quartz veinlets in tuff
Mo286 ppm13 > 20 ppmQuartz-veined breccia near paleosurface

Pathfinder elements

As8400 ppm11 > 800 ppmFerruginous carbonate sinter at paleosurface
Ba6180 ppm14 > 1100 ppmLaminated carbonate sinter at paleosurface
Hg0.34 ppm5 > 0.10 ppmOxide veinlets in argilllized(?) travertine at paleosurface
Sb31.2 ppm5 > 10 ppmFerruginous carbonate sinter at paleosurface
Se80 ppm4 > 1 ppmBanded quartz vein
Te0.88 ppm4 > 0.4 ppmOxidized vein breccia
Tl10.6 ppm8 > 1.0 ppmIron-rich carbonate sinter at paleosurface

Tortuga-Guiluna Vein Rock Chip Sampling Results (n = 24)

 ElementMaximum valueSamples with Significant valuesLithology of highest value sample

Precious metals

Ag1.7 g/t3 > 0.50 g/tSilicified hydrothermal breccia subjacent to paleosurface
Au0.06 g/t3 > 0.02 ppmSilicified hydrothermal breccia subjacent to paleosurface

Base metals

Cu10.8 ppmn/aOxide vein in tuff subjacent to paleosurface
Pb25 ppm2 > 20 ppmOxide fracture in argillized tuff subjacent to paleosurface
Zn87 ppm13 > 20 ppmOxide vein in tuff subjacent to paleosurface
Mo63.8 ppm6 > 10 ppmOxidized quartz veinlet subjacent to paleosurface

Pathfinder elements

As6120 ppm6 > 100 ppmFerruginous carbonate sinter at paleosurface, possibly w/laminated oxidized sulfides
Ba2970 ppm20 > 100 ppmOxidized fracture in argillized tuff subjacent to paleosurface
Hg21.6 ppm9 > 0.50 ppmOxidized and argillized volcanic rock subjacent to paleosurface
Sb73.2 ppm3 > 10 ppmFerruginous carbonate sinter at paleosurface, possibly w/laminated oxidized sulfides
Se1.2 ppm2 > 1 ppmOxidized fracture in tuff subjacent to paleosurface
Te0.15 ppm5 > 0.50 ppmFerruginous carbonate sinter at paleosurface, possibly w/laminated oxidized sulfides
Tl0.92 ppm8 > 0.20 ppmFerruginous carbonate sinter at paleosurface

Southern Dike - Tepeztate Vein Rock Chip Sampling Results (n = 24)

 ElementMaximum valueSamples with Significant valuesLithology of highest value sample

Precious metals

Ag0.55 g/t2 > 0.50 g/tCarbonate veined tuff
Au0.30 g/t3 > 0.10 ppmQuartz veins in lithic tuff

Base metals

Cu1630 ppm1Strong oxide veining in fractures
Pb19.9 ppmnaCarbonate vein
Zn1.26 %2 > 60 ppmStrong oxide veining in fractures
Mo8.72 ppm3 > 3 ppmBrecciated quartz vein in silicified and argillized rhyolite dike

Pathfinder elements

As347 ppm10 > 100 ppmOxidized fractures in lithic tuff
Ba590 ppm16 > 100 ppmVeined lithic tuff
Hg0.53 ppm1Strong oxide veining in fractures
Sb3.04 ppm1Strong oxide veining in fractures
Se6.2 ppm1Strong oxide veining in fractures
Te0.05 ppm1Strong oxide veining in fractures
Tl0.48 ppm2 > 0.26 ppmOxidized fractures in lithic tuff

Rock chip samples were prepared for analysis at the ALS-Global facility in Guadalajara, Jalisco, Mexico, and pulps were then sent for analysis at ALS-Global laboratory in Vancouver, B.C., Canada.

The technical content of this news release has been reviewed and approved by Robert Johansing, M.Sc., Economic Geologist, and a Qualified Person pursuant to National Instrument 43-101.

About Madoro Metals Corp.

Madoro Metals Corp. (MDM | TSX Venture Exchange; MSTXF | OTC) is a Mexico-focused precious metals company actively engaged in exploration and development of three gold-silver projects in the state of Oaxaca, Mexico. The Yautepec, Magdalena, and Rama de Oro projects each consist of large epithermal systems that are highly prospective for precious metals in structural and geologic settings similar to those of nearby producing mines. Systematic exploration has advanced two of the projects towards drilling with the intention of discovering an economic mineral deposit.

On behalf of Madoro Metals Corp.

"Dusan Berka, P. Eng."

President & CEO

For more information, please contact: Investor Relations via email at info@madorometals.com.

www.madorometals.com

#1450 - 789 W. Pender Street

Vancouver, BC, Canada V6C 1H2

Tel: +1 (604) 681-1568

Email: info@madorometals.com

Neither 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.

This news release may contain forward-looking statements including but not limited to comments regarding timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Madoro Metals Corp. relies upon litigation protection for forward-looking statements.

SOURCE: Madoro Metals Corp.



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