VANCOUVER, July 18, 2019 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ) (OTCPK: MRZLF) (the "Company" or
"Mirasol") is pleased to announce updated surface
exploration results from its Sascha Marcelina Low Sulfidation
Epithermal ("LSE") gold-silver project in the Santa Cruz Province of Argentina. The project
is located 100 km south of Newmont Goldcorp's Cerro Negro mine and displays similar geologic
and geomorphic settings.
Mirasol's President and CEO, Norm
Pitcher, stated: "We are pleased to provide an update on the
work completed since the consolidation of the Sascha Marcelina
project that was announced earlier this year. Our exploration
activities were focused on the previously underexplored Marcelina
claims and to date, the results have been very encouraging with
numerous high-grade results in the new Estancia, Pellegrini and
Igloo prospects. The project warrants further work to define drill
targets but is shaping up to host multiple attractive and untested
prospects."
Sacha Marcelina Exploration Overview
The surface exploration activities completed this field season
on the Sascha Marcelina project include geological mapping
aided by the acquisition of drone supported high-resolution base
images, detailed rock chip sampling, extensive soil grid sampling
(with PXRF sourced geochemistry) and the acquisition of
alteration data using in-house handheld ASD (Analytical Spectral
Devices) technology on all of the rock chips and soil samples
collected to date. This recent work has defined a large alteration
footprint of more than 20 km2, located in the immediate
vicinity of the Marcelina claims, and hosting an epithermal silica
vein system with multiple mineralized trends. Within this
area, new prospects have been recognized, with the "Estancia Trend"
and the "Igloo Trend", both located in close proximity to an
extensive silica cap (the "Pellegrini Silica Cap"), which is
interpreted as representing the preserved fossil paleosurface of a
low sulfidation system (Figure 1).
To date, a total of 422 new rock chip samples have been
collected from within the Marcelina area with assays as high as
27.7 g/t Au and 121 g/t Ag, taken from epithermal silica
vein/veinlets and silica-hematite hydrothermal breccias. These
precious metal values are accompanied by highly elevated epithermal
pathfinder elements including arsenic, antimony, tellurium, and
anomalous lead and zinc. Strong positive correlations of key
elements within the "epithermal suite" can be statistically
recognized between gold, silver, arsenic and antimony (Figure
2).
The Estancia Trend is represented by a NW trending structure
hosting epithermal veins, veinlets and stockworks, which can be
traced intermittently for more than 3 km through three principal
outcropping zones identified as the Estancia South, Central and
North zones (Figure 3).
The mineralization recognized within the Estancia South zone is
emplaced into Chon Aike formation ignimbrites, which are known to
be a permissive/brittle geological formation for mineralization in
the Deseado Massif. This formation is interpreted to represent the
deepest level of erosion with respect to the known geological
stratigraphy mapped and hosts the most continuous and
well-developed epithermal veins and veinlets with the highest gold
and silver grades to date on the Marcelina claims. This suggests
that the Estancia South zone is within or approaching the
"productive level" of the mineralized epithermal column. The
exposed mineralization at Estancia Central and North Zone, is
hosted in the overlying La Matilde formation which is generally not
considered to be an ideal host rock, although outcropping veinlets
report highly anomalous gold values up to 1.86 g/t. Typically these
values are hosted by irregular zones of stockworks and sheeted
veinlets, which locally can form discrete bodies up to 20 m wide within the broader Estancia structural
zone.
Interpretations based on the stratigraphic mapping,
multi-element geochemistry, ASD alteration patterns and quartz
silica species and textures suggest that both Estancia Central and
North zones report to a higher level within the epithermal column.
The Chon Aike formation, which is interpreted to underlie both the
Central and North zones, is considered an attractive target for
higher grade Au and Ag mineralization. It is also important
to highlight that these mineralized trends disappear under
post-mineral cover to both the south and north from their current
mapped traces and are considered open along strike (Figure 3).
At Estancia South Zone, which represents the deepest part of the
system recognized to date, good alteration zonation patterns are
displayed within the outcropping epithermal veins. This zonation is
interpreted to represent an increase in fluid temperature and
proximity to fertile flow structures and to represent attractive
targets for higher grade mineralization. This zonation is
better developed in Estancia South due to the emplacement of
hydrothermal fluids in the more brittle and competent Chon Aike
Formation, that acted to concentrate the epithermal fluids in
well-developed structures as opposed to being more dispersed
through the flatter horizontal fluid outflow along the water
table level as typically seen at the La Matilde Formation
stratigraphic level.
The Pellegrini prospect is characterized by a large, high level
"silica cap" comparable to Newmont Goldcorp's Cerro Negro silica cap (Figure 4). This silica
cap represents the highest level of epithermal paleo water table
alteration hosted within the La Matilde Formation. It is uncommon
for these upper levels of the epithermal column to be anomalous in
precious metal concentrations, however, recent prospecting and
sampling by Mirasol at Pellegrini encountered attractive epithermal
textures in outcropping veins in close association with extensive
NW oriented silicified breccia structures. These features are seen
to cross-cut the high level silica cap alteration and may be
associated with deeper feeder structures. Assays from these
structures have returned values up to 1.95 g/t Au and 26.90 g/t Ag
together with elevated values of arsenic, antimony, sulphur,
copper, lead, tellurium and bismuth. These results are considered
very encouraging, and further exploration will be designed to
vector toward potential targets below the silica cap.
The interpretation of the exploration data to date suggests that
the mineralization may also be related to a rhyolitic flow dome
complex that has intruded into the upper levels of the La Matilde
Formation in the central part of the Pellegrini prospect. This is
coincident with a central sodium rich alunite zone which may
represent a higher temperature/low pH response typical of advanced
argillic alteration zones and may vector toward a possible NW
feeder and/or hydrothermal up flow vent in this central part of the
prospect. These observations are comparable to both the Cerro
Saavedra zone at the Minera Santa Cruz's San Jose mine and also Newmont Goldcorp's
Cerro Negro silica cap, both of
which are located in reasonable proximity to the Sascha Marcelina
project.
Recent rock chip sampling at the Igloo prospect have surpassed
historical values previously reported, with peak assays up to 1.63
g/t Au, and 49.5 g/t Ag accompanied by anomalous arsenic, antimony,
mercury and zinc, within hydrothermal breccia bodies developed in
the La Matilde Formation. Mineralization also occurs as
discontinuous quartz stockworks/veinlets which outcrop along a NW
trending structural corridor. Recent geological/stratigraphic
mapping suggests the more competent Chon Aike formation should
shallowly underlie the La Matilde Formation, as seen in the
Estancia South zone with the associated higher gold and silver
values.
The recent prospecting/sampling, geological mapping and
alteration vectoring studies have defined possible feeder
structures that could potentially be the source of the hydrothermal
fluids in each of these prospects and with the addition of
systematic electrical geophysical IP lines during the start of the
next field season, Mirasol will focus on generating targets for
drill testing at the Sascha Marcelina project.
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 gold
and silver district of Santa Cruz Province
Argentina.
Qualified Person Statement: Mirasol's disclosure of technical or
scientific information in this press release has been reviewed and
approved by Norm Pitcher, P.Geo.
President and CEO for the Company. Mr. Pitcher serves as a
Qualified Person under the definition of National Instrument
43-101.
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.