VANCOUVER, Aug. 8, 2017 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ, OTCPK: MRZLF, "Mirasol") is pleased to announce
discovery of the new high grade Ag-Au vein, the Resolution Prospect
(Figure 1) where reconnaissance rock chip sampling has returned
assays of up to 6,181.4 g/t Ag (198.7 oz/t) and up to 4.79 g/t Au
(0.15 oz/t) at the Company's 100% owned Nico project, Santa Cruz Province Argentina.
Additionally, Mirasol has more than doubled the area of the Nico
Project by staking of new claims to secure extensions of the
volcanic complex related to the mineralization, bringing the total
project area to over 53,000 ha.
Mirasol CEO Stephen Nano stated:
"We are very encouraged by this season's exploration results at
our Nico Project where the Company is outlining a multi-target high
grade Ag – Au district with favourable logistics in proximity to
two operating mines".
Reconnaissance mapping and sampling at the Nico claims,
approximately 12 km to the east of Mirasol's recently announced
Aurora silver - gold prospect (see news release July 5, 2017) has led to the discovery of a new
high-grade epithermal vein at Resolution. The mineralization
reports to oxidized veins and veinlets of grey chalcedonic silica
with localized zones of banded saccharoidal silica and breccia
textures hosted in dacitic subvolcanic. The structure has
been traced in outcrop and float for 1,400 m varying in width from
a few centimetres up to 0.5 m wide at surface (Figure 2).
Mirasol has collected 34 reconnaissance rock chip samples along
the Resolution vein structure (Table 1). Assays returned high
grade Ag+Au with strongly anomalous As+Sb+Hg+Pb+Zn. The
database of sample assays for Resolution contains:
Silver
- 23 samples greater than 30 g/t Ag (0.96 oz/t)
- 7 samples greater than 300 g/t Ag (9.6 oz/t)
- Highest sample of 6,181.4 g/t Ag (198.7 oz/t)
Gold
- 11 samples greater than 0.25 g/t Au (0.008 oz/t)
- 7 samples greater than 1.0 g/t Au (0.032 oz/t)
- Highest sample of 4.79 g/t Au (0.15 oz/t)
Mirasol has also reported high-grade Ag+Au assays of up to
2,095.0 g/t Ag (67.4 oz/t) and 35.09 g/t Au (1.128 oz/t) from the
strongly mineralized, multi-kilometre long, Aurora vein-breccia
prospect. In addition, the Company has undertaken a
preliminary desk top re-evaluation of previous Joint Venture
partner drilling from 2009 at the Nico Main prospect. This has
highlighted shallow drill intersections of up to 8.25 m @ 0.43 g/t
Au and 37 g/t Ag, including 1.25 m at 2.17 g/t Au and 197 g/t Ag
(5.45 g/t AuEq60*) which remain open to depth and
warrant further drill testing.
The geological understanding emerging from this season's
exploration at the Nico Project suggests that mineralization is
associated with a large rhyolitic flow dome and pyroclastic complex
that overlies the regional rhyolite ignimbrites volcanics of the
Chon Aike formation. At Nico, epithermal intermediate
sulphidation vein -breccia mineralization is developed at several
prospects both within the dome and pyroclastic complex and the
underlying Chon Aike volcanics. To date, Mirasol has
identified three prospects Aurora, Resolution and Nico Main where
strongly anomalous to bonanza grade silver – gold assays have been
returned from surface rock chip sampling and historic drill
intersections at the Nico Project.
Mirasol has ceased its reconnaissance at Nico due to the onset
of the southern hemisphere winter and eagerly anticipates the
re-initiation of the spring work season in mid-September 2017 to continue exploration of
this exciting precious metal project.
Corporate Rebranding
Mirasol is pleased to announce
the launch of its new website and corporate branding. To follow the
Nico Project story, please visit www.mirasolresources.com
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.
Additional Explanatory Notes:
* AuEq60 is the sum of the value of gold and silver in a given
interval represented as a gold equivalent g/t value calculated via
the formula: Au assay in g/t + (silver assay in g/t ÷ 60)
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. 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.