Unlocking Value at Alamos: Minaurum Gold's Strategic Drilling Campaign and Resource Expansion Potential

Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) has emerged as a standout player in the silver exploration sector, driven by its aggressive drilling program and strategic focus on the Alamos Silver Project in Sonora, Mexico. With over 3,000 meters of a 10,000-meter infill and step-out drill program completed as of August 2025, the company is accelerating its path to a maiden resource estimate while delivering high-grade drill results that underscore the project's district-scale potential. For investors seeking exposure to a de-risked, high-impact silver exploration story, Minaurum's Alamos project represents a compelling case study in disciplined resource expansion and operational execution.

Strategic Drilling and High-Grade Catalysts

Minaurum's 2025 drilling campaign has been a masterclass in targeting underexplored zones within a historically prolific district. The Promontorio Sur vein zone, a 1.5 km continuation of the high-grade Promontorio stacked vein system, has delivered standout intercepts such as 1.05 meters of 272 g/t silver equivalent (AgEq) and 0.20 meters of 617 g/t AgEq (304 g/t Ag). These results, coupled with wide intervals of carbonate replacement mineralization (e.g., 4.95 meters of 174 g/t AgEq), highlight the project's potential for both high-grade and bulk-tonnage mineralization.

The company's focus on Promontorio Sur is particularly strategic. This zone lies across a northwest-trending fault from the main Promontorio vein system, which historically produced over 70 million ounces of silver. By drilling the faulted-off portion of the Promontorio zone and the Las Guijas vein, Minaurum is testing a structurally complex system that could host multiple mineralized horizons. The discovery of a stacked vein system at Promontorio—where multiple high-grade veins are vertically aligned—further amplifies the project's scalability.

Resource Expansion and Technical Rigor

Minaurum's technical team, bolstered by the addition of senior resource development experts from SilverCrest, has adopted a systematic approach to resource delineation. The company has identified 26 vein zones to date, with 13 returning high-grade silver intercepts. This includes the Europa-Guadalupe and Travesia zones, which have shown consistent mineralization (e.g., 5.60 meters of 368 g/t AgEq at Europa-Guadalupe). The use of mobile, modular drilling rigs ensures minimal environmental impact while enabling rapid deployment across the project's 37,928-hectare land package.

A critical near-term catalyst is the completion of the maiden 43-101 resource estimate, expected by year-end 2024. This milestone will formalize the resource base and provide a foundation for production planning. Preliminary metallurgical testing has already confirmed robust recoveries: silver recoveries of 83.5–94.3% and gold recoveries of 68.9–96.5%, even in low-grade material. These results de-risk the project's economic viability and align with Minaurum's goal of advancing Alamos toward production.

ESG and Operational Advantages

Minaurum's commitment to ESG principles further strengthens its value proposition. The company's use of man-portable drilling rigs and focus on rehabilitating historical underground workings at the Promontorio mine—where 200 tonnes of ballast and 50 tonnes of backfill have been removed—demonstrate a socially and environmentally responsible approach. Additionally, the project's proximity to the Piedras Verdes copper-silver mine provides access to critical infrastructure (power, water, labor) while reducing capital expenditures.

The company's regulatory position is equally robust. The Alamos project is fully permitted for production, with an extended Environmental Impact Statement (MIA) from SEMARNAT. This rare advantage in Mexico's permitting landscape positions Minaurum to fast-track development once the resource is defined.

Investment Thesis and Risks

Minaurum's strategic acceleration at Alamos is underpinned by a combination of technical expertise, financial strength, and operational discipline. With 85% of the land package still unexplored and a growing inventory of high-grade drill results, the project offers significant upside for resource expansion. The company's share price, currently trading at a discount to its peers given its pre-resource stage, could see substantial re-rating as the maiden resource estimate approaches.

However, investors should remain mindful of exploration risks. While the high-grade intercepts are promising, converting these into a defined resource requires consistent drilling results. Additionally, the company's reliance on external consultants for metallurgical testing and QA/QC protocols must be closely monitored to ensure data integrity.

Conclusion

Minaurum Gold's Alamos Silver Project is a rare combination of historical legacy and modern exploration innovation. By leveraging a stacked vein system, aggressive drilling, and a disciplined approach to resource expansion, the company is positioning itself to unlock near-term value through a maiden resource estimate and potential production. For investors with a medium-term horizon and an appetite for high-impact silver exploration, Minaurum's strategic acceleration at Alamos warrants serious consideration.