VANCOUVER, Sept. 3, 2014 /CNW/ - Mirasol Resources
Ltd. (TSX-V: MRZ, Frankfurt: M8R)
- 3D modelling of helicopter air magnetics survey with
leading-edge technology
- Completed extensive property-wide soil geochemical
program
- Detailed gravity survey being used to model depth of
post-mineral gravel cover
- Alteration vectoring studies undertaken
- Completed systematic mapping and sampling of areas of
outcrop
- Integrated targeting and modelling underway
- 8 preliminary targets identified both in outcrop and
gravel-covered areas
- Electrical geophysical test-lines in progress over key
targets
- Drill permitting process initiated
Mirasol is pleased to provide an exploration update on its Rubi
porphyry copper - gold JV with First Quantum Minerals (First
Quantum) in the El Salvador –
Potrerillos copper mining districts of northern Chile. First Quantum has been conducting
an aggressive surface exploration program under the terms of a
binding Letter Agreement, spending approximately US$680,000 in the September 2013 to June
2014 period. With the signing of the Definitive Option
and Joint Venture Agreement on August 14,
2014 (see news release August
27, 2014), First Quantum can now begin preparations to scout
drill-test priority targets at Rubi. An archeological and
environmental management plan, and drill proposal, was submitted to
the Chilean authorities in late July 2014. This may take up
to 10 weeks to process.
Some of the exploration completed and results from the Rubi
project to date include:
- Processing of 2,460 line-km of a detailed helicopter magnetics
survey of the project with leading-edge 3D modelling software to
highlight structure and potential exploration target areas.
- An extensive property-wide soil survey using both conventional
soil samples in areas of locally derived soils and enzyme partial
leach* technique in the gravel-covered areas. The partial
leach technique was applied in the gravel areas, as under some
circumstances this approach can detect mineralization through
transported overburden. Soil buffer capacity** (acidity) was
also measured as an additional technique to potentially detect
buried areas of oxidizing sulphide mineralization.
- A gravity survey covering much of the property was completed
and combined with field observations to model the depth of gravel
cover over the majority of the property. These results
suggest that much of the project is covered by zero to less than
100 metres of gravel. This is considered relatively thin
cover for modern Chilean porphyry exploration. The gravity
model will be used to help prioritize targets in the shallower
cover areas for drill testing.
- Outcropping areas of alteration were surveyed with grid-based
hand-held infrared spectrometer*** measurements. This
information is used to identify alteration mineral species and
changes in chemical composition and degree of crystallinity of
these minerals. A combination of these factors can be used to
vector towards more prospective parts of a mineralized
system. Systematic geological mapping and rock chip sampling
was also completed over the main prospects where outcropping
alteration is evident.
Initial integrated analysis of the new data sets by First
Quantum has highlighted eight preliminary target areas (Figure 1)
in the Rubi claims. These include;
1)
|
Refining of targets
in the Lithocap, Corner Zone and Portezuelo areas originally
identified by Mirasol; and
|
|
2)
|
A number of
prospective new target areas identified within the large
gravel-covered plain at the centre of the project.
|
An electrical geophysical survey has been initiated over some
target areas at Rubi. This survey combines high sensitivity Induced
Polarization (IP) and Magneto Telluric (MT) geophysical techniques.
Combined, these techniques can be used to detect buried sulphide or
silica accumulations through gravel cover and at significant depth
that can indicate potential areas of mineralization. This
geophysical data will be used as a final layer of information to
filter and prioritize areas for drill testing.
Mirasol's management are pleased with the exploration approach
and outcomes to-date from the First Quantum program at Rubi.
This work has increased the number of potential targets and has
built a strong knowledge-base to leverage final drill target
selection.
The Rubi project is located adjacent to two large porphyry
copper – gold mining districts in what Mirasol believes is an
underexplored section of one of the world's more productive
porphyry copper belts. Mirasol will continue to report on
progress toward drill testing of the Rubi Project as new
information is received.
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.
First Quantum Minerals operates the Rubi Joint Venture and
generated the geological, geophysical and geochemical information
reported to Mirasol Resources. First Quantum uses industry accepted
procedures for the collection and analysis of this information
including a formal quality assurance and quality control (QA/QC)
program and ISO 9001:2000-accredited assay laboratories for
geochemical analysis. Mirasol has performed an independent
analysis of the information and reports provided by First Quantum.
Stephen Nano has reviewed the data and prepared this news
release, and is a qualified person as defined by National
Instrument 43-101.
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.
Additional explanatory notes:
* Enzyme partial leach soil sampling: Actlabs Enzyme Leach
SM used at the Rubi Project is a partial leach
technique that selectively extracts elements from amorphous
manganese oxide coatings on soil materials. Under the right
circumstances, these elements potentially derived from underlying
concealed mineralization are transported through the soil profile
and concentrate in the oxide coatings. The Enzyme Leach soil
technique has been successfully used to detect soil or
gravel-covered mineralization by other companies in Chile and at other locations around the
world.
**Soil buffer capacity: Oxidizing sulphide mineralization
generates hydrogen ions that are acid by nature. These ions
migrate vertically above an oxidizing sulphide body and come in
contact with carbonates that naturally occur in the near-surface
soil, dissolving the carbonate and lowering the buffering capacity
of the soil. Systematic measuring the buffering capacity in
the soil can map areas of low buffering capacity that may indicate
the presence of an oxidizing sulphide body at depth.
***Hand-held spectrometer: A field portable device (PIMA, ASD,
PSM devices) that measures the absorption of light in specific
wavelengths of the infrared spectrum to identify certain mineral
species and changes in their chemical composition or crystal
structure. Some mineral species are known to occur in altered
rock associated with or in the periphery to mineral deposits.
In known metalliferous deposits some of these minerals have been
demonstrated to also show systematic changes in their mineral
chemistry or increasingly ordered crystal structure as a vector
towards mineralization. By analogy this information can be
used as an exploration vector in alteration system to help focus
exploration into areas with better potential for mineral
discovery.
SOURCE Mirasol Resources Ltd.