VANCOUVER, Nov. 14, 2017 /CNW/ - Mirasol Resources Ltd
(TSX-V: MRZ, OTCPK: MRZLF "Mirasol" "Company") is
pleased to announce that Yamana Gold Inc.
("Yamana Gold") has commenced its third season of drilling at
the Company's Gorbea Joint Venture (JV) in Northern Chile and that the drill program is
well underway. Gorbea is a
property package containing a number of high-sulfidation
epithermal (HSE) properties that include the Atlas and Titan gold
projects. The drilling planned for the remainder of
2017 will comprise
a seven-hole, 2,600-metre program
at the Atlas gold project, where Mirasol
recently announced the best down-hole intersection
grading 1.07 g/t gold over 114 metres, including 2.49 g/t gold
over 36 metres hosted in oxidized HSE vuggy silica
breccias (see news release September
11, 2017).
The higher grade gold mineralization encountered to
date at Atlas is located at the Steam Heated Zone (SHZ) target
where four drill holes
have delineated a zone of 650 metres by 125
metres, at approximately 255 to 310 metres depth with vertical
extent in excess of 200 metres, located beneath
intensely altered cap rocks. At the SHZ,
mineralization is predominantly hosted in an oxidized
multiphase breccia body characterized by intense
quartz-alunite ± jarosite alteration with vuggy
silica-breccia clasts and contains late-stage translucent
barite hosting visible gold. This type of mineralized
breccia is characteristic of that seen in recent
multi-million ounce gold discoveries by Barrick Gold at Alturas1 (6.8 million
ounce inferred resource grading 1.00 g/t gold) and Gold Fields
at Salares Norte2 (total resources including inferred of
3.8 million ounces grading 4.6 g/t gold and 43.8 million
ounces of silver grading 53.1 g/t Ag), located 70 km due south
of Atlas within the same aged belt
of volcanic rocks.
Yamana Gold's drill program is planned to further test
the SHZ target and six other targets within the project area.
These targets were
recognized from integrated analysis of the
extensive geological, geochemical, alteration and
geophysical Atlas database, which leverages new
mineral systems knowledge gained from last season's successful
exploration at Atlas, paired with an improved understanding of
the key features that led to the discoveries of Alturas
and Salares Norte.
Results from the program will be reported as they are
released to Mirasol. Exploration program design and drill
hole target selection is currently in progress for other projects
in the Gorbea JV including the Titan gold project where
drilling is planned for the first half of 2018. Yamana
is currently engaged in its 2018 budgeting process that
will determine the magnitude of the JV spend and
drill program at Atlas and the other projects in
the Gorbea JV.
Mirasol invites investors to follow the Gorbea – Yamana Gold JV
story by visiting www.mirasolresources.com and signing up to
receive our new releases.
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 Gorbea exploration
program:
Under the terms of the Gorbea Agreement, all exploration is
managed by Yamana. All pre-Joint Venture exploration on the
projects was supervised by Mirasol CEO Stephen C. Nano, who is the Qualified Person
under NI 43-101. All information generated from the Gorbea
Joint Venture program is reviewed and validated by Mirasol prior to
release. The technical interpretations presented here are those of
Mirasol Resources Ltd.
Yamana applies industry standard exploration methodologies and
techniques. All geochemical rock and drill samples are collected
under the supervision of Yamana'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 9001:2000-accredited laboratory in
Chile for analysis. Assay results
from 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.
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1 Barrick Gold Corporation. (2016). Annual
Report 2016.
2 Gold Fields. (2016). The Gold Fields
Mineral Resource and Mineral Reserve Supplement to the Integrated
Annual Report 2016.
SOURCE Mirasol Resources Ltd.