VANCOUVER, March 22, 2019 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ) (OTCPK: MRZLF) (the "Company" or
"Mirasol") reports that it has been advised by OceanaGold
Corporation ("OceanaGold") of its decision to terminate option
agreements for the La Curva and Claudia Projects in the
Santa Cruz Province of
Argentina.
Norm Pitcher, President and CEO
of Mirasol stated that "we wish to thank OceanaGold and its
exploration team for the work completed and significant investments
made on our projects over the past 2 years. Even though the results
to date did not meet OceanaGold's expectations, we believe the work
completed has identified compelling targets that warrant further
testing. Mirasol will initiate a business development process to
identify new partners to continue exploration at both
projects".
Since the beginning of the Curva option agreement (May 18, 2017), OceanaGold has completed
C$3.7 million in exploration
expenditures on the project and drilled 6,250 m in 36 holes. Results from the second
phase drill program were released on March
4, 2019 along with Mirasol's geological interpretation
and drill targets. At the Claudia Project, OceanaGold has invested
C$2 million since the execution of
the agreement (October 20, 2017) and
drilled 2,500m in 12 holes. Over the
current exploration season, Mirasol also completed additional
surface exploration and geophysical surveys on the project to
define new drill targets which have not yet been tested. Results
from this work will be provided shortly. In addition to the
exploration expenditures incurred to date, OceanaGold has also made
approximately C$650,000 in option
payments to Mirasol for both projects.
About Mirasol Resources Ltd
Mirasol is a premier project generation company that is focused
on the discovery and development of profitable precious metal and
copper deposits, operating via a hybrid joint venture and
self-funded drilling business model. Strategic joint ventures with
precious metal producers have enabled Mirasol to maintain a tight
share structure while advancing its priority projects that are
focused in high-potential regions in Chile and Argentina. Mirasol employs an
integrated generative and on-ground exploration approach, combining
leading-edge technologies and experienced exploration geoscientists
to maximize the potential for discovery. Mirasol is in a strong
financial position and has a significant portfolio of exploration
projects located within the Tertiary Age Mineral belts of
Chile and the Jurassic age Au+Ag
district of Santa Cruz Province
Argentina.
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.