VANCOUVER, April 24, 2018
/CNW/ - Mirasol Resources Ltd (TSX-V: MRZ, OTCPK: MRZLF
"Mirasol" "Company") is pleased to announce that
Mirasol and Newcrest Mining (ASX: NCM), have initiated a
US$750,000 surface exploration
program at the Zeus project to explore for a large High-Sulfidation
Epithermal (HSE) gold deposit within the prospective Mio-Pliocene
age belt of Northern Chile.
Zeus comprises an 18,480 ha property package located in an
accessible area of the high Andes of Chile, approximately 40 km ESE of Gold Fields'
recent discovery at their Salares Norte deposit1 (total
indicated resource of 3.49 Moz Au
grading 5.2 g/t gold and 48.57 million ounces of silver
grading 72.1 g/t Ag) (Figure 1). The Mio-Pliocene belt of
Chile hosts many world-class Cu
and Au+Ag gold mines and prospects, including Salares Norte and
Barrick's multi-million once HSE gold discovery at
Alturas2 (6.8 Moz inferred resource grading 1.00
g/t gold). Gold Fields has recently presented interim results from
the feasibility study3 for the Salaries Norte deposit,
suggesting the deposit can be developed into a low cost,
profitable, open-pit mine.
The current phase of the Zeus exploration program is designed to
be completed by the end of May 2018
before the onset of the southern hemisphere winter. The program
focuses on the known breccia bodies of the Apollo and Artemisa
prospects, and includes detailed mapping, gridded systematic soil
and rock chip sampling geochemistry, CoreScan alteration mapping
and 32 line-km of Controlled Source Audio-Magnetotellurics (CSAMT)
geophysics. All these technologies have been successfully applied
in the exploration for, and assisted in discovery of, recent
multi-million ounce HSE deposits elsewhere in Chile.
Results from the current Zeus exploration program are due to be
received in stages over the May to June
2018 period and will form the basis for subsequent
exploration including a drilling campaign anticipated to commence
in the fourth quarter of 2018. Mirasol will report on the
results from current surface program as they become available.
The Zeus option and Farm-in agreement requires NCM to spend
US$1.5 million on exploration over
the first 18 months and then gives NCM the right to earn 51% of the
project by spending US$8.0 million
over an additional 4 years, for a total spend of US$9.5 million. NCM has the right to earn up to
80% of the Zeus Project by completing a series of exploration and
development milestones, that include funding to commercial
production of Mirasol's 20% of the project and by making staged
option payments to Mirasol of US$1
million (see news release February
26, 2018).
Mirasol invites investors to follow the Zeus-Newcrest Mining
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 Zeus 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.
(2017). The Gold Fields Mineral Resource and Mineral Reserves
Supplement to the Integrated Annual Report 2017.
|
2
|
Barrick Gold
Corporation. (2016). Annual Report 2016.
|
3
|
Gold Fields Media
Release, Unaudited 2017 Results, Year ended 31 December 2017.
|
SOURCE Mirasol Resources Ltd.