Phase IV Infill And Scout Drilling At Chita Valley Project

TORONTO - Minsud Resources Corp. reported the receipt of assay results from five (5) additional drillholes, which were completed as part of the ongoing Phase IV infill and scout drilling program at the Chita Valley Project, San Juan Province, Argentina. Drilling has resumed on the infill drilling program covering an area of approximately 2.5 square kilometres, for the purpose of generating a Mineral Resource Estimate on the Property. This area represents the primary mineralized zone within the Chinchillones target, as delineated through drilling.

Continued drilling in Phase IV focused along the NE-trending corridor at the eastern end of the Chinchillones target. To date, Minsud has completed 8,856m in 14 drillholes during the first half of 2024. Assays have been received for drillholes CHDH24-99 to CHDH24-103, totaling 3,736.6m. CHDH24-102 was drilled with an orientation of 315°/-65° to a depth of 743.70 metres, with Significant Drill Intercepts: 527.7m @ 0.26% Cu, 9.70 g/t Ag and 0.16% Zn, from 216m depth, including 8.0m @ 3.85% Cu, 188.60 g/t Ag, and 1.28% Zn, from 386.0m depth. Geology: The drillhole was comprised of intercalated phreatomagmatic breccia and fine to medium- grained porphyritic dacite. The dacitic, matrix supported, polymictic breccia contains porphyritic dacite and quartzite clasts. There is moderate to strong advanced argillic alteration (kaolinite- pyrophyllite) affecting the matrix and clasts. Disseminated sulphide mineralisation is ubiquitous with numerous high sulphidation veins containing estimated 3-5% pyrite-bornite-sphalerite-tennantite. From 391m, there are consistent sulphides occurring as disseminations, cavity in-fill, and veins. Both intermediate sulphidation (IS) and high sulphidation veins are present.

This intercept has established potential continuity and increased volume of similar higher-grade intercepts from CHDH23-84, CHDH23-89, and CHDH23-69 (see PR releases dated May 8, 2023 and November 20, 2023). The strong mineralization is interpreted as largely associated with a superposed high sulphidation event over the earlier porphyry Mo-Cu body at depth. Cu-Au-As mineralization is clearly aligned NNW on the eastern edge of the Dome.

CHDH24-103 was drilled with an orientation of 315°/-65° to a depth of 850 metres. Significant Drill Intercepts: 384.0m @ 0.33% Cu, 5.85 g/t Ag, 85 ppm Mo, from 466.0m depth; including 15.0m @ 2.47% Cu, 0.22 g/t Au, 30.13 g/t Ag, and 0.159% Zn, from 548m depth. Geology: This drillhole is located 150m NW from CHDH24-102. Up to 414.0m, host rocks include clast-supported, phreatomagmatic breccias containing mineralized clasts of dacitic porphyry, quartzites and early diorite porphyry. The lithologies are moderately to strongly silicified, with abundant high sulphidation veins. Linear breccias are overprinted by earlier moderate quartz-sericite alteration. Up to 5% modal estimate of sulphides.

From 414.0m, the diorite porphyry variably hosts moderate to strong zoned quartz-sericite alteration. Pyrophyllite is observed in fractures and high sulphidation veins, with locally up to 3-5% total sulphides (pyrite-tennantite-sphalerite). Stockwork vein zone is characterised by dense microveins hosting sulphides in a spectrum of porphyry and epithermal veins (i.e., high sulfidation, B- and A-type, and pyrite veins). From 692.3m, the tonalite porphyry exhibits moderate quartz-sericite alteration with a quartz-sulfide stockwork zone (20-25 vein/m frequency) consisting of B-type, pyrite, and HS veins with pyrite-bornite-chalcopyrite microveinlets associated with HS veins. Up to 7% modal estimated sulphides within these high-grade intervals (pyrite-chalcopyrite-bornite-tennantite-molybdenite). Bornite appears in HS and B-type veins and disseminated in quartz veins.

Ramiro Massa, Minsud's President & CEO, said: "After a brief hiatus in our drilling program and, of course, a well-deserved respite for our hard-working drilling and geological teams, drilling at Chinchillones resumed on February 15. Likewise, the continuous flow of highly encouraging results from the Chinchillones infill program has resumed as well. As we move forward into the second half of 2024, we anticipate several exciting developments, including the completion of an updated resource estimate."