VANCOUVER, Feb. 28, 2018 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ, OTCPK: MRZLF, "Mirasol") is pleased to announce
the results from an 18 hole, 2,550 m,
Phase I diamond core drilling (DDH) program from the La Castora
Trend at the La Curva OceanaGold JV, Santa Cruz, Argentina (Figure 1).
- Assay results confirm the presence of a large Au+Ag system
within the Castora Trend with broad zones of anomalous Au+Ag
intersected including:
-
- 47.9 m at 0.48 g/t Au and 2.1 g/t
Ag (CC-DDH-01)
- 106.2 m at 0.61 g/t and 2.7 g/t
Ag (SW-DDH-02)
- The better down hole intersections at 0.3 AuEq60*
g/t cut off include:
-
- 19.65 m grading 0.72 g/t Au and
2.6 g/t Ag, including 0.80 m grading
6.12 g/t Au and 18.6 g/t Ag, and 5.75
m grading 1.24 g/t Au and 2.0 g/t Ag, including 0.85 m grading 5.99 g/t Au and 5.9 g/t Ag
(CC-DDH-01).
- 13.00 m grading 1.22 g/t Au and
0.7 g/t Ag, including 7.4 m grading
1.81 g/t Au and 0.7 g/t Ag (LA-DDH-04).
- 6.20 m grading 2.33 g/t Au and
31.1 g/t Ag, including 1.80 m grading
6.88 g/t Au and 84.9 g/t Ag, and 26.7
m grading 0.82 g/t Au and 2.2 g/t Ag, including 1.45 m grading 3.50 g/t Au and 11.3 g/t Ag
(SW-DDH-02).
- Two distinct stages of Au mineralization are recognized:
Stage 1: This stage is characterized by broad zones (up to
106.2 m downhole) of lower-grade,
early quartz-pyrite.
Stage 2: This is a later, overprinting phase of higher-grade
multi-pulse epithermal veins and veinlets with individual assays up
to 0.8 m grading 12.72 g/t Au and
145.4 g/t Ag (SW-DDH-02).
The CEO of Mirasol, Stephen Nano,
stated that "this initial phase of drilling is interpreted to have
intersected the upper portion of a Au dominated epithermal system,
that manifests as both narrow, high-grade veinlets and lower-grade,
broader zones of disseminated style mineralization. We are
encouraged by these initial drill results that show evidence of a
large Au+Ag system, with mineralization in a range of permissive
geological settings that warrant further drill testing."
Targeting efforts are now underway for a Phase II drilling at
the Castora Trend planned for the March quarter of 2018. This
drilling will be designed to provide deeper testing of selected
mineralized zones and permissive structural settings, and testing
for the presence of favourable/receptive host rocks that could
promote the development of wider, high grade veins and breccias.
Exploration is also in progress at the Curva West prospect to
define drill targets where previous Mirasol sampling identified
float blocks of epithermal vein and breccia in a prospective
geological setting that assayed up to 20.73 g/t Au and 36.4 g/t
Ag.
Castora Trend Geology and Drill Results
This Phase I drilling at the La Curva Castora Trend has provided
an initial test of three prospects: Cerro Chato, Loma
Arthur and SouthWest. This drilling campaign has
intersected widespread pervasive argillic alteration,
silicification and Au+Ag mineralization indicative of a
low-sulfidation epithermal gold system (Table 1).
Mineralization is developed as a series of veinlet zones within the
structurally prepared welded ignimbrite wall rock, as
disseminations within laminated water lain sediments and as matrix
fill in phreatomagmatic and dome margin autobreccia bodies.
Preliminary geological interpretation suggests the Castora Trend
prospects represent a series of intrusive dome related maar
diatreme breccias.
Cerro Chato: Drilling here
comprised seven holes for a total of 1,131
m (Figure 2), which intersected the following styles of
mineralization (Figure 3):
- CC-DDH-001: This drill hole intersected low density zones of
epithermal veinlets and veins with a maximum down hole width of
19.65 m. Individual veinlets range
from a few mm to up to 10 cm wide. The best down hole intersection
(19.65 m grading 0.72 g/t Au and 2.6
g/t Au, including 0.80 m grading 6.12
g/t Au and 18.6 g/t Ag) is developed where a higher density of
veinlets occur which exhibit multiple pulses of
mineralization.
- CC-DDH-002: Returned a best downhole intersection of
13.90 m grading 0.81 g/t Au and 2.6
g/t Ag, including 5.00 m grading 1.35
g/t Au and 2.6 g/t Ag. The hydrothermal alteration vectors from
argillic to strong pervasive silicification in the down hole
direction, with mineralization developed as fine sulfide
dissemination in laminated carbonaceous siltstone and matrix fill
to bedded eruption breccias. A deep target is indicated.
- CC-DDH-003: This drill hole intersected hydrothermal breccia
interpreted to be developed at the margin of an intensely altered
rhyolitic flow dome complex. Au + Ag assays of up to 6.3 m of 0.60 g/t Au and 31.8 g/t Ag with
strongly anomalous As and Sb epithermal path finder elements
corresponding to sulfide-rich crustiform and dendritic fine-grained
breccia matrix fill.
Loma Arthur: Five drill
holes here totalled 512 m and
provided an initial shallow test of a series of Au-bearing
epithermal vein float samples (Figure 4). Drill hole
LA-DDH-004 returned the best down hole intersection of 13.00 m grading 1.22 g/t Au and 0.7 g/t Ag,
including 7.40 m grading 1.81 g/t Au
and 0.7 g/t Ag from a zone of colloform and bladed textured
epithermal veinlets.
SouthWest: Six drill holes were drilled for a total of
907 m, and intersected widespread
argillic and silica alteration hosting Au+Ag mineralization in a
sequence of welded pumice tuffs and coarse volcanic sediments with
interbeds of water-lain laminated ash crystal tuff (Figure
5). Mineralization comprises narrow multiphase veinlet zones
and as a large interval of matrix fill in polymictic eruption
breccia and autobreccia developed at a margin of the flow
dome(s).
- SW-DDH-002 (Figure 6): Returned the better results of drilling
to date, showing development of two styles of mineralization. The
upper portion of the hole intersected a multi-phase high level
epithermal veinlet zone that assayed 6.2
m grading 2.33 g/t Au and 31.1 g/t Ag, including
1.8 m grading 6.88 g/t Au and 84.9
g/t Ag. From 83.0 to 180 m the hole
intersected explosive polymictic volcanic breccia, intruded by a
flow dome with auto-brecciated margins. Au+Ag mineralization is
widely developed in this interval as matrix fill to the breccias.
Results include; 5.35 m grading 2.00
g/t Au and 7.3 g/t Ag, including 3.35
m grading 2.83 g/t Au and 10.9 g/t Ag, and 26.7 m grading 0.82 g/t Au and 2.2 g/t Ag,
including 1.45 m grading 3.50 g/t Au
and 11.3 g/t Ag.
Mirasol looks forward to updating its shareholders on results
from the second phase of drilling at the La Curva Castora Trend and
the exploration results from ongoing work at the Curva West
prospect.
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.
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 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 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.