VANCOUVER, Jan. 16, 2018 /CNW/ - Mirasol Resources
Ltd. (TSX-V: MRZ, OTCPK: MRZLF, "Mirasol", the
"Company") is pleased to announce the acquisition and initial
exploration results from the newly recognized Zeus high-sulfidation
epithermal (HSE) gold project located in the prolifically
mineralized Mio-Pliocene age belt of Northern Chile.
Zeus Highlights
- Zeus is located 40 km ESE of the multimillion ounce Salares
Norte HSE discovery by Gold Fields
- Zeus is a large-area Au target in the prospective Chilean
Mio-Pliocene age mineral belt, covering 18,480 ha of contiguous
exploration claims (15,980 ha 100% Mirasol owned; 2,500 ha
controlled by Mirasol via a 5-year option to purchase
agreement)
- Zeus presently hosts two recognized breccia-hosted gold targets
– the Artemisa and Apollo prospects. Au grades from
rock chip sampling of up to 1.28 g/t Au are found in a permissive
high-level epithermal breccia setting
- Zeus is located in undulating high altitude terrain with
drive-up access to targets via gravel roads and tracks
Stephen Nano, the Company's CEO
stated that "Mirasol Resources continues to build a portfolio of
exciting new large-scale HSE gold projects in this underexplored
section of the Mio-Pliocene age mineral belt. Zeus represents the
3rd of Mirasol's district scale project packages in this
belt including Mirasol's Altazor and Gorbea projects, that are
being explored under Joint Venture by Newcrest Mining (See News
release November 21, 2017) and
Yamana Gold (see news release September 11,
2017) respectively.
The Zeus project (Figure 1) comprises 18,480 ha of contiguous
exploration claims. 15,980 ha of claims were staked by Mirasol as
part of its Atacama-Puna generative program, and a further 2,500 ha
of claims are controlled by Mirasol via a 5-year option to purchase
agreement with the underlying property owner. Mirasol can
acquire 100% of these claims by making staged option payments
totalling US$2.75 million over the 5
years with US$2.45 million of the
payments due in the 5th year of the option. The property
owner will retain 1.5% NSR royalty. Mirasol has a right to
buy 0.5% of the royalty for US$3.0
million.
Mirasol is targeting large-scale bulk-mineable HSE gold
mineralization at Zeus. There has been no previous systematic
surface exploration nor drilling at the Zeus project, where Mirasol
has identified two large breccia-hosted gold targets at Artemisa
and Apollo. The reconnaissance stage exploration results from both
prospects are considered very encouraging for this early stage of
exploration work.
The next stage of exploration at the project is anticipated to
include systematic soil sampling, geological mapping and rock chip
sampling, as well as magnetic and electrical geophysical
surveys. Once acquired, these data sets will be used to drive
integrated analysis for drill target selection, anticipated by the
end of this field season (late April
2018 to May 2018). Mirasol is actively seeking a JV
partner to advance the exploration and drill testing of the Zeus
project.
Project Geology
Zeus is located 40 km east-south-east of Gold Fields' 3.8
million ounce Salares Norte1 HSE project along the
trans-orogen Culampaja structural corridor, which is believed to
have played a critical role in localizing a number of large-scale
tertiary age HSE and porphyry copper gold deposits in Chile and Argentina.
The two HSE precious metal targets at Artemisa and Apollo are
interpreted to be twin phreatomagmatic breccia bodies.
Brecciation plays an important role of rock preparation that
facilitates later hydrothermal fluid access and may act as host
rock to precious metal mineralization in large HSE deposits, such
the new Mio-Pliocene Salares Norte and Barrick Gold's 6.8 multimillion ounce
Alturas2 discovery in Chile.
At Artemisa (Figure 2) Mirasol's exploration has outlined an
800 m diameter advanced argillic
altered breccia where reconnaissance level soil sampling has
defined a low-level coincident Au, Ag, As, Cu, Pb, Sb, Mo anomaly,
which overlies the edge of the mapped breccia body. The level
of the geochemistry anomaly is similar to that seen at surface
overlying the Salares Norte orebody3; at Artemisa this
may represent geochemical leakage from a concealed zone of
mineralization at depth.
At Apollo (Figure 3) a 0.6 x 1.2 km wide crescent-shaped zone of
advanced argillic and intermediate argillic altered pyroclastic
breccias and epiclastic sediments outcrop through a window in
post-mineral lava flows. This alteration is interpreted by
Mirasol's geologists to be hosted by a partially exposed
phreatomagmatic breccia and flow-dome complex. Mirasol has
undertaken initial mapping, rock chip sampling and alteration
modelling from 218 samples recently collected throughout the Apollo
alteration window (Figure 4). Assay results show wide-spread
strongly anomalous Ag, As, Ba, Hg, Sb, with 38 of 218 samples
collected in the altered window returning gold assays in the range
0.1 to 1.28 g/t Au. Gold mineralization reports to silica-pyrite
flooded breccias, and oxidized vuggy quartz-jarosite breccias.
Mirasol invites investors to follow the Mio-Pliocene HSE gold
story by visiting www.mirasolresources.com and signing up to
receive our news 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 Altazor 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 soil, stream, 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
Chile 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.
1 Gold Fields. (2016). The Gold Fields
Mineral Resource and Mineral Reserve Supplement to the Integrated
Annual Report 2016 (total resources including inferred of
3.8 M oz Au at 4.6 g/t Au and
43.8 M oz Ag at 53.1 g/t
Ag).
2 Barrick Gold Corporation.
(2016). Annual Report 2016 Alturas (6.8 M oz inferred resource at 1.00 g/t
Au).
3 Azevedo, F., Brewer, N., Santos, A.,
Huete Verdugo, D., Baumgartner, R., Roncal, L., Trueman, A. &
Foley, A. (2015). The discovery and geology of the Salares
Norte epithermal gold-silver deposit, northern Chile. In
NewGenGold 2015 (p145-157). Perth,
Australia.
SOURCE Mirasol Resources Ltd.