VANCOUVER, Oct. 26, 2017 /CNW/ - Mirasol Resources
Ltd. (TSX-V: MRZ, OTCPK: MRZLF, "Mirasol")
is pleased to announce the start of a 2,500 meter diamond core
drilling program at its La Curva Joint Venture Project ("Project")
with OceanaGold Corporation (OGC), Santa Cruz Province Argentina.
La Curva is a 100% Mirasol owned, 36,100 ha exploration-stage
gold project located at low elevation in an area with favorable
infrastructure ion the western side of Santa Cruz province. Mirasol's exploration at
the Project has outlined three gold prospects at Cerro Chato,
Loma Arthur and SouthWest, situated
along the six km long "La Castora" Trend. These represent
compelling drill targets for bulk mineable or high grade, low
sulfidation epithermal gold and silver mineralization (Figure 1).
This style of mineralization is typical of several multi-million
ounce gold – silver mines in the province that are operated by
multinational mining companies.
Mirasol recently announced (see new release May 25, 2017) a Joint Venture (JV) at La Curva
with high margin precious metal miner OceanaGold Corporation (OGC).
The JV requires OGC to make a first year exploration spend of
US$1.25 million and to drill 3,000
metres at the project. OGC can elect to earn up to 75% of the
La Curva project by making staged option payments to Mirasol
totaling US$1.5 million, delivering a
feasibility study, a decision to mine, and by providing mine
finance to Mirasol for it 25% retained project equity. Mirasol is
the Project operator for the first year of the JV.
Mirasol has previously reported on the La Curva Project where
the Company's exploration has led to the discovery of wide-spread,
undrilled precious metal mineralization. The three
drill-ready prospects at Cerro Chato, Loma
Arthur and SouthWest are characterized by coincident
large-scale outcropping alteration, IP geophysical anomalies, and
anomalous rock chip assays ranging up to 66.8 g/t Au. This
drill program is planned to deliver an initial shallow, 17
hole test of the Castora Trend targets (Learn more about the La
Curva Drill targets).
A series of early-stage prospects have also been identified at
the Project in the Curva West prospect where rock chip anomalies
ranging up to 20.73 g/t Au and 153.6 g/t Ag are found in a
prospective geological setting. Mirasol and OGC are advancing
exploration of this mineralization to define drill targets to be
tested during subsequent drill campaigns.
Mirasol looks forward to updating its shareholders on results
from the current drill program at La Curva which are anticipated
during the fourth quarter of 2017.
To follow the La Curva 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.
Quality Assurance/Quality Control of the La Curva 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 is operating 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.