VANCOUVER, Dec. 10, 2014 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ, Frankfurt: M8R)
- Detailed mapping and sampling of Trench TR-AKI-06 and the
surrounding outcrops have outlined controls on silver-dominated
mineralization, and highlighted prospective drill targets for large
scale anomalies at the Atlas Silver Zone (ASZ) and new Oculto
zone.
- The combination of geology and IP geophysical anomalies at ASZ
suggests mineralization in TR-AKI-06 is associated with the edge of
a large, covered, conductive feature that may represent a buried
and altered volcanic vent or breccia body.
- The IP also outlines a long, greater than 1 km,
shallowly-buried, high-intensity resistivity feature, the Oculto
zone target. Resistivity anomalies of this magnitude can be
related to hydrothermal silica accumulations, possibly associated
with precious metal mineralization.
- Recent vertical channel sampling of the walls in TR-AKI-06 have
returned high-grade silver and anomalous gold associated with
silica replacement in tuffs and mineralized hydrothermal breccia
bodies.
- The best individual channel samples of the trench walls include
0.35 m at 609 g/t Ag, and 0.2 m at 542 g/t Ag, with the best
length-weighted average vertical channel samples of 2 m at 114.69
g/t Ag and 0.20 g/t Au, and 1.9 m at 128.03 g/t Ag and 0.32 g/t
Au.
Mirasol has completed surface mapping and detailed channel
re-sampling of trench TR-AKI-06 at its ASZ prospect in the 100%
owned Atlas Project in the Gorbea belt of northern Chile. Integrated interpretation of assay
results and new geological information with IP electrical
geophysics has further upgraded the ASZ prospect by defining a
series of priority targets for drill testing.
At ASZ, previously reported rock chip float and subcrop assays
outline a 750 m long zone of altered tuffs and hydrothermal
breccias containing up to 639.0 g/t Ag with low level, anomalous
gold (Figure 1, and see news releases of February 26, 2014 and July
18, 2014). This mineralized trend is surrounded by
widespread post-mineral alluvial cover, suggesting there is
potential for extensions of ASZ mineralization beneath cover.
Re-sampling and mapping of trench TR-AKI-06 was conducted to
better understand geological controls on silver
mineralization. Vertical channel samples were collected down
the walls of the trench at regular intervals along the trench to
augment the original continuous horizontal sampling of the trench
floor.
The better length-weighted average composite channel samples
from new vertical sampling of the trench walls include (Figure 2
and Table 1):
- 2.0 m at 144.69 g/t Ag and 0.20 g/t Au,
- 1.9 m at 122.59 g/t Ag and 0.18 g/t Au
- 1.9 m at 128.03 g/t Ag and 0.32 g/t Au
Higher-grade individual channel samples have assayed up to;
- 0.35 m at 609 g/t Ag and 0.002 g/t Au
- 0.2 m at 542 g/t Ag and 0.13 g/t Au
- 0.7m at 261 g/t Ag and 0.31 g/t Au
- 0.5m at 251 g/t Ag and 0.06 g/t Au
- 0.6 m at 220 g/t Ag and 0.07 g/t Au
Combined, these channel results define a 55 to 60 m long section
of continuous mineralization at the north east end of the trench
that is interpreted as a volcanic vent, with overprinting
hydrothermal breccias. The better silver (±gold) assays in
the trench correlate to silicification of tuffs and multiphase
"funnel" shaped hydrothermal breccia bodies. Select samples
of silicified tuffs with fine dark sulphide have returned assays of
up to 519 g/t silver (Photo 1D). The breccias contain
strongly silicified clasts of mineralization, and locally also
contain fine sulphides. Selective sampling of these breccia
clasts has returned assays of up to 148 g/t Ag, while channel
sampling through the breccia has returned individual channel
samples of up to 0.2 m at 542 g/t Ag (Photos 1E and 1F). The
alteration and mineralization continue to the edge of alluvial
cover in the trench suggesting that this mineralization may be open
to the north east under cover.
Trench TR-AKI-06 shows pervasive intense low-temperature,
advanced argillic alteration containing cinnabar and veins of
native sulphur (Photos 1B & 1C). This alteration type is
typical of the upper level of high-sulphidation epithermal precious
metal systems (the "steam heated zone"), suggesting there is
potential for the preservation of the precious metal mineralization
at depth. The silicified clasts in the breccia are fragments of
mineralization interpreted to have been transported to surface by
the breccia forming event. This suggests a source for silver
mineralization in the clasts may be located at depth beneath, or
laterally adjacent to, the trench.
Examination of the IP electrical geophysics interpretive cross
section that traverses trench TR-AKI-06 (Figure 1) shows that ASZ
is situated on the edge of a large "funnel shaped" conductive
anomaly up to 400 m wide, which is centred out beyond the North
Eastern end of the trench under alluvial cover. This
conductive feature correlates with an area characterized by a weak
chargeable anomaly. Interpreting this anomaly in the light of
the trench geology and assay results, suggests that the funnel
shaped feature may be a clay-altered breccia pipe or volcanic
vent. The mineralization in Trench TR-AKI-06 may be
geochemical leakage from a mineral system associated with this
geophysical anomaly, representing a target for drill testing.
Also evident in the geophysics is a large, strong resistivity
anomaly (up to 10,000 ohm/m) that is centred 500 m north of the
conductive target. This anomaly, named the Oculto zone, is
seen on a number of geophysical sections, outlining a 1 km long
resistive feature. The Oculto anomaly is largely gravel covered;
however localised outcrop windows through the gravel cover reveal
intense quartz-alunite altered volcanics. Resistivity
anomalies of this magnitude can be related to hydrothermal silica
accumulations potentially associated with precious metal
mineralization in high sulphidation epithermal systems. The
Oculto zone is considered to be a priority drill target.
The new drill targets outlined at the ASZ and Oculto prospects
further upgrade the prospectivity of the Atlas gold-silver
project. Other compelling drill targets at Atlas have been
previously been announced by Mirasol at the Atlas Gold Zone
prospect. Additional early stage prospects at Atlas offer the
potential to develop further drill targets at this large 100%
Mirasol owned project in the world class Miocene mineral belt of
Chile. Mirasol is seeking a Joint Venture partner to drill
test and further advance the Atlas
project.
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 Timothy Heenan,
Exploration Manager and Leandro Echavarria Principal Geologist. 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.