VANCOUVER,
Jan. 23, 2014 /CNW/ - Mirasol
Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) Mirasol Resources
recently completed an aggressive exploration program at its
100%-owned 36,721 hectare La Curva gold project in southern
Argentina, where four gold silver
prospects - Cerro Chato, Loma Arthur, Southwest and Curva West -
have been identified. Mirasol's exploration suggests that the La
Curva project may be part of a newly recognized, large, low
sulphidation precious metal district (Figure 1) within the prolific
Deseado epithermal province, which may extend to include
mineralization at Las Calandrias dome field held by Mariana
Resources.
The geological setting of the La Curva project
is prospective for bulk-mineable breccia/sheeted veinlet, and
high-grade epithermal vein styles of mineralization. The four
La Curva prospects are defined by large geophysical IP anomalies
with coincident rock chip float and outcrop assays from a range of
mineralization styles including breccias with assays up to 5.24
grams per tonne (g/t) Au and 1.2 g/t Ag, stockwork and veinlets to
24.73 g/t Au and 18.0 g/t Ag and sub-metre wide epithermal veins
with assays to 66.8 g/t Au and 20.2 g/t Ag.
Mirasol is currently analyzing data from the
recent program which includes 57 sq. km of geological mapping, 630
surface rock chip samples and over 108 line km of pole - dipole IP
and 77.26 sq. km of ground magnetics. This data is being used to
define drill targets at the La Curva prospects prior to seeking a
joint venture partner to drill test and further advance the
project.
The geological setting of the La Curva project
(Figure 1) and results from the Cerro Chato prospect rock chip
sampling, geological mapping and modeling of the pole-dipole IP
geophysical survey, have defined a series of high priority drill
targets.
Project scale geological mapping at La Curva has
demonstrated that mineralization is localized along the margin of a
regional scale block of older Permian and Triassic age rocks in
faulted contact with the younger Jurassic age volcanics hosting
gold and silver exploration targets. Mineralization at
several of the prospects shows a spatial association with altered
dikes and volcanic flow domes developed at the faulted margin of
the basement block, as at Curva West, or within large scale
northeast-trending cross-faults as at the 6 km long La Castora gold
trend which hosts the Cerro Chato, Loma Arthur and Southwest
prospects.
Mapping at Cerro Chato has outlined a 1,700 m by
1,000 m argillic-silica alteration zone centered on a low, rounded
hill, surrounded by thin gravel cover. The core of the hill
is marked by a 670 m by 450 m zone of silica replacement of a
laminated volcanic rock and associated sinter deposits. These
geological features suggest the current outcrop level may be the
top of the epithermal alteration system, with the potential for
preservation of the complete mineral system below surface.
Rock chip sampling across the Cerro Chato hill
(Figure 2) has returned Au and Ag assays as follows: 1) from
20 to 30 cm wide, banded, epithermal vein float grading up to 6.8
g/t Au and 18.3 g/t Ag; 2) from 1 to 5 cm wide outcropping banded
veinlets grading to 8.69 g/t Au and 5.6 g/t Ag and 3), from
silicified breccia float up to 2.19 g/t Au and 5.3 g/t Ag. The
occurrence of the Au-Ag bearing structures across the hill suggests
the presence of a large, well mineralized system at Cerro Chato.
The presence of gold-silver veinlets cutting across the silicified
volcanics suggests they may have acted as a "cap rock", potentially
concealing mineralization at shallow depth beneath the hill.
Cerro Chato was surveyed as part of a large 67.2
line km pole - dipole IP geophysical survey covering the 6 km long
La Castora gold trend. Results over Cerro Chato (Figure 2) outline
a 2,100 m by 1,200 m chargeability anomaly (+ 10 mV/V) underlying
the Chato hill and extending out under gravel cover. Additionally,
the survey outlined a 1,000 m by 650 m resistive body (+ 200 ohm-m)
centered under the hill and coincident with the core of the
stronger (+20 mV/V) chargeability anomaly. Chargeability and
resistivity anomalies of this magnitude can indicate sulphide and
silica bodies, and may potentially represent zones of hydrothermal
alteration and mineralization underlying the Cerro Chato hill at
shallow depths.
Modelling of the electrical geophysical results
in three dimensions (3D, Figure 3) have outlined chargeable (+20
mV/V) and resistive bodies (+200 ohm-m). These models were then
represented as thickness contours (Figures 2 and 3), to allow
analysis of the relationship shape of bodies to the rock chip for
drill targeting. This process showed the resistivity anomaly has
the shape of a +500 m long "S" shaped body, with a funnel-shaped
cross section. The top of the resistivity anomaly overlaps
the outcropping mapped, silicification, and encompasses areas of
rock chip sampling of veinlets carrying up to 6.17 g/t Au and 10.8
g/t Ag. These veinlets, while volumetrically small at
surface, may represent geochemical leakage from underlying
mineralization. The "S" shape from of the resistivity anomaly
is consistent with that of a northwest trending dilational
structure, a shear setting characteristic of much of the
significant mineralization in Santa
Cruz province.
Mirasol Resources has identified a highly
prospective, large scale undrilled gold target at Cerro Chato that
is supported by a prospective geological setting, wide spread
indications of gold and silver mineralization, and near surface,
large scale coincident geophysical anomalies. The combined
features of this target suggest potential for both high grade
veins, as well as larger scale bulk mineable mineralization.
Cerro Chato is only one of four prospective
precious metals prospects at the La Curva project, that combined
highlight this property as one of the premier undrilled gold
projects in the province. Further news releases will follow as
final data is received, analyzed and targeted for the Loma Arthur,
Southwest and Curva West gold prospects at La Curva.
Mirasol Resources is actively seeking a JV
partner to drill test the known prospects and further explore the
La Curva project.
Stephen C. Nano,
Vice President of Exploration for Mirasol, is the Qualified Person
under NI 43-101 who has prepared and approves the technical content
of this news release.
Quality Assurance/Quality Control:
Exploration at the La Curva Project is supervised by Stephen C. Nano, Vice President of Exploration,
who is the Qualified Person under NI 43-101. All technical
information for the Company's projects is obtained and reported
under a formal quality assurance and quality control (QA/QC)
program. All drill, rock chip and stream sediment samples are
collected under the supervision of Company geologists in accordance
with standard industry practice. Samples are dispatched via
commercial transport to an ISO 9001:2000-accredited laboratory in
Argentina for analysis. All
rock chip and drill samples are submitted to the Laboratory with
independently sourced, accredited standards and blanks and where
appropriate duplicate samples to facilitate monitoring of
laboratory performance. Certified Results are examined by an
independent qualified consultant to ensure laboratory performance
meets required standards.
Neither the 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.
SOURCE Mirasol Resources Ltd.