VANCOUVER, July 23, 2014 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ, Frankfurt: M8R)
- At the AGZ (Atlas Gold Zone) prospect surface rock chip
sampling has outlined an 800 by 500 m area hosting multiple
gold-anomalous quartz-alunite alteration trends, with 55 of 473
rock chips assaying between 1.0 and 50.3 g/t gold.
- Detailed re-sampling of existing AGZ trenches which lie within
the area of the rock chip gold anomaly returned best
length-weighted average channel samples of:
-
- 8.4 m at 1.85 g/t Au and 0.5 g/t Ag
- 11.3 m at 1.32 g/t Au and 7.3 g/t Ag
- 14.9 m at 1.67 g/t Au and 0.6 g/t Ag
- Highest individual channel samples from the re-sampled trenches
include 1.2 m at 8.85 g/t Au and 45.8 g/t Ag, and 1.0 m at 5.63 g/t
Au and 5.13 g/t Ag.
Mirasol Resources recently reported that it had
outlined an 800 by 500 m zone of anomalous gold and silver
mineralization in rock chip float and subcrop samples at its
100%-owned Atlas AGZ prospect (Figure 1; and see news release of
July 18, 2014). Of the 473 rock chip
samples collected here, 55 have assayed between 1.0 to 50.3 g/t
Au. These higher-grade samples are interpreted to define a
series of northwest-trending quartz-alunite alteration zones with
vuggy silica and hydrothermal breccias, hosted by andesitic lava
flows, or an andesitic flow dome.
The gold - silver trends are spatially
associated with a 1 km long, opened-ended highly resistive
geophysical anomaly defined in Mirasol's recent IP survey at Atlas.
These resistive anomalies may represent hydrothermal feeder zones
or buried flow domes. Anomalous rock chip samples with assays
in the range 0.1 to 30.7 g/t Au and with Ag assays up to 56.9 g/t
occur on the margin, or over the top, of the buried resistive
anomalies potentially representing geochemical leakage from the
covered geophysical features.
Mirasol also recently completed a detailed
re-mapping and channel re-sampling program (Figure 2) over the
existing trenches at the AGZ prospect to better understand the
mineralization in the trenches and its relationship to the Au and
Ag-bearing quartz-alunite zones at surface. The best
length-weighted average trench channel results (Table 1) from this
season's sampling include 11.3 m at 1.32 g/t Au and 7.3 g/t Ag, and
14.9 m at 1.67 g/t Au and 0.6 g/t Ag (at a 0.1 g/t Au equivalent
cut-off). Higher-grade channel intervals (at a 0.5 g/t Au
equivalent cut-off) include 2 m at 4.91 g/t Au and 3.0 g/t Ag, and
2.2 m at 5.08 g/t Au and 26.0 g/t Ag.
The gold - silver mineralization in the AGZ
trenches correlates to a series of vuggy silica structures (Photo
Gallery A, B, C) and alunite matrix hydrothermal breccias (Photo
Gallery D, E, F) with quartz-alunite alteration halos. These
structures and breccias are best developed over a 70 m section of
Trench 2, with individual vuggy silica structures ranging up to 4 m
wide, while the hydrothermal alunite matrix breccias are exposed
for intervals of up to 23 m along the trench wall (true width
unknown at this stage). Mineralized zones in the trenches show a
strong correlation with the surface quartz-alunite trends. The
higher-grade surface rock chip trends, including areas with rock
chip assays up to 30.7 g/t Au and 42.3 g/t Ag identified this
season have not yet been trenched. This presents an excellent
opportunity to extend the mineralized zones.
The presence of abundant primary hypogene
alunite and vuggy silica alteration of the gold - silver host rock
is consistent with a high-sulphidation epithermal character to the
AGZ mineralization. This type of mineralization has produced
both high-grade structurally-controlled and open-pit bulk mineable
gold-silver mines elsewhere in the Miocene belt of Chile. All trench and surface rock chip
samples at the AGZ are strongly oxidized with no preserved sulphide
recorded. This suggests the potential for oxide-gold
mineralization at the project.
Mirasol's geologists are processing results from
surface sampling, re-mapping and channel re-sampling of the Atlas
Silver Zone (ASZ) trenches. These results will be reported
once complete.
Mirasol's management are very pleased with the
exploration outcomes of the 2014 summer program and the Atlas
project where three prospects; the AGZ, ASZ and Pampa zone have now
been identified and new quality drill targets are beginning to
emerge at the AGZ prospect.
Stephen Nano,
President and CEO 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 Atlas Project is supervised by Stephen C. Nano, who is the Qualified Person
under NI 43-101 and Timothy Heenan,
Exploration Manager. 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 transport to an
ISO 9001:2000-accredited laboratory in Chile for analysis. All drill, and rock
chip 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.