VANCOUVER, July 5, 2017 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ, OTCPK: MRZLF "Mirasol") is pleased to announce
high-grade gold and silver rock chip assays, that extend and infill
vein-breccia trends at the new Aurora prospect, part of Mirasol's
100% owned Nico project Santa
Cruz, province Argentina
(Fig. 1).
This phase of mapping and sampling has increased the strike
extent of the principal north-south oriented mineralized trend to
by 30% to approximately 4 km. A total of 1,113 rock-chip
samples have been collected to-date and with assays ranging up to
35.09 g/t Au (1.128 oz/t) and up to 2095 g/t Ag (67.4 oz/t).
This phase has upgraded the results for the prospect (table 1) with
the sample database now including:
Gold
- 178 samples greater than 1 g/t Au (0.032 oz/t)
- 34 samples greater than 5 g/t Au (0.161 oz/t)
- 6 samples greater than 15 g/t Au (0.482 oz/t)
Silver
- 155 sample greater than 60 g/t Ag (1.9 oz/t)
- 41 samples greater than 300 g/t Ag (9.6 oz/t)
- 5 samples greater than 900 g/t Ag (28.9 oz/t)
Field observations and assays distribution suggest the presence
of multiple mineralised vein-breccia zones (potential shoots) that
are expressed as a linear alignment of intermittently outcrop,
subcrop and float of blocks, defining vein-breccia trends over a 4
x 2.1 km area at the prospect (Fig.2). This trend extends to
the edge of post-mineral basalt cover to the north and south,
suggesting the system may continue under cover and have a longer
strike length than currently defined. As well, outcrop and
sub-crop distribution of samples suggests the potential for
adjacent parallel vein breccia trends in some areas of the
prospect. Sample widths at surface show individual vein –
breccias typically range between 0.2 to 3.0 m in width with an
average of 0.31 m (see news release June
12, 2017).
Preliminary interpretation of the structural setting at Aurora
suggests that the better grades seem preferentially located in
north-west oriented flexures developed within the north-south
mineralized trend(s). These flexures are interpreted to occur
at where regional-scale structures intersection with the
north-south trend(s), and where the north-south trend intersects an
arcuate shaped feature speculated to mark part of a "ring fault",
potentially developed above the edge of a buried intrusive.
The flexures are thought to represent sites of potential dilation
and structural preparation of the host rock(s) in the mineralized
trend(s). Similar structural settings at gold - silver
deposit elsewhere in Santa Cruz
province often mark the sites for development of accumulations of
mineralisation. At Aurora, these flexure zones will be the
focus for follow-up detailed mapping and sampling to define drill
targets.
Rock chip samples assayed to date from the prospect are of
oxidise material. In some cases oxidation may result in near
surface upgrading of gold and silver content of the samples, in
comparison to the grades in the underlying unoxidized
mineralization. While Mirasol has not seen any evidence to date
that this is the case at Aurora, it is prudent to acknowledge the
possibility of this effect at this early stage of exploration at
the prospect. Not withstanding this, the strongly anomalous
gold and silver assays returned from significant strike extents of
the vein-breccia structures, highlight Aurora as a significant new
discovery of a highly prospective, undrilled gold-silver system, in
the prolifically mineralised Santa
Cruz epithermal province.
Mirasol has continued to prospect in the Nico claims block
beyond the Aurora prospect. Results of this exploration will
be reported in the coming weeks, as well as results of a
re-evaluation of the exploration undertaken by a previous joint
venture partner at the Nico main prospect.
Stephen Nano, President and CEO
of Mirasol, has approved the technical content of this news release
and is a Qualified Person under NI 43 -101.
Quality Assurance/Quality Control of the Nico exploration
program:
All exploration on the project was supervised by Mirasol CEO
Stephen C. Nano, who is the
Qualified Person under NI 43-101.
Mirasol applies industry standard exploration sampling
methodologies and techniques. All geochemical rock and drill
samples are collected under the supervision of the company's
geologists in accordance with industry practice. Geochemical assays
are obtained and reported under a quality assurance and quality
control (QA/QC) program. Samples are dispatched to an ISO 9001:2008
accredited laboratory in Argentina
for analysis. Samples are analysed by 30g fire assay for Au and for
Ag via a multi element ICP suite. If the silver assay exceeds 100
g/t, the sample is reanalysed using a gravimetric assaying method.
Assay results from surface rock, channel, trench, and drill core
samples may be higher, lower or similar to results obtained from
surface samples due to surficial oxidation and enrichment processes
or due to natural geological grade variations in the primary
mineralization.
Forward Looking Statements: The information in this news release
contains forward looking statements that are subject to a number of
known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those anticipated in
our forward-looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity
markets, costs and supply of materials relevant to the mining
industry, change in government and changes to regulations affecting
the mining industry. Forward-looking statements in this release
include statements regarding future exploration programs, operation
plans, geological interpretations, mineral tenure issues and
mineral recovery processes. Although we believe the expectations
reflected in our forward-looking statements are reasonable, results
may vary, and we cannot guarantee future results, levels of
activity, performance or achievements. Mirasol disclaims any
obligations to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as may be required by applicable law.
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.