Mirasol Resources Identifies New Copper Porphyry Target on its Tefnut Prospect in the Province of San Juan, Argentina
June 09 2022 - 6:00AM
Mirasol Resources Ltd. (TSX-V:
MRZ) (OTCPK:
MRZLF) (the “
Company” or
“
Mirasol”) is pleased to report the exploration
results from its 100% controlled Tefnut copper prospect (“Tefnut”),
located within the fertile Mio-Pliocene copper-belt in the province
of San Juan, Argentina. The province of San Juan hosts several
high-profile advanced projects including Filo del Sol, Josemaria,
Altar, Los Azules and El Pachon. Tefnut, staked by Mirasol through
its project generation program, comprises approximately 4,500
hectares of exploration claims. The Company’s preliminary
reconnaissance program of prospecting, high level geological
mapping, geochemical sampling and alteration analysis, successfully
defined a large 1.5 by 1.5 kilometres porphyry related phyllic
alteration system with outcropping copper-mineralization.
“We are very excited to introduce a new
high-quality porphyry copper target within the renowned province of
San Juan,” Mirasol’s President, Tim Heenan, commented. “Our first
boots on the ground reconnaissance over this completely untested
area has identified a sizeable new alteration at Tefnut that we
will continue to advance to drill testing.”
Tefnut is located at the intersection of a major
orogenic parallel NS structure and a lesser defined NNW
trans-orogenic lineament which is the common structural
configuration that has localized other major deposits and
development projects in the province of San Juan. In close
proximity to the west and in Chile, advanced projects like Novicio,
West Wall and Pimenton represent good analogies for the
prospectivity of the immediate area.
Figure 1: Location Map - Mirasol Tefnut
Prospect
Within the large 1.5 x 1.5 kilometre intensely
altered phyllic footprint at Tefnut, discrete outcropping exposures
of porphyry-style copper-mineralization occur in the deeply incised
creeks. This mineralization is associated with high density
stockworks of quartz magnetite and fine magnetite only stringers,
within strongly potassic altered (biotite-feldspar-magnetite)
intrusive dioritic porphyry hosting disseminated chalcopyrite and
Cu-oxides. Initial grab samples from these mineralized outcrops
have returned 0.14% and 0.19% copper. In addition, anomalous
molybdenum values of 42 ppm hosted in type B veinlets, with the
four highest values (from a population of 15) ranging from 17-42
ppm, were recovered from the overlying rhyolites that exhibit
intense phyllic alteration.
These initial geological and geochemical results
indicate the presence of an underexplored and potentially
substantive porphyry copper-molybdenum system. Potassically altered
dioritic intrusive rocks, hosting disseminated copper
mineralization, are exposed in discrete erosional windows through
an extensive area of phyllic alteration with local remnant advanced
argillic altered sections. It is considered that Tefnut has been
eroded to an optimal level for the exploration with the prospective
copper mineralized potassic zone preserved at shallow levels and
extending to depth.
Figure 2: Panoramic view of the sizable Tefnut
porphyry copper alteration system
Given the encouraging results from the initial
reconnaissance campaign at Tefnut, Mirasol is planning to progress
its exploration efforts during the upcoming southern hemisphere
exploration season (October 2022 - April 2023). Detailed grid based
geochemical sampling, geological/structural mapping and geophysical
surveys will be required to advance this new and exciting prospect
to a drill ready stage.
About Mirasol Resources Ltd
Mirasol is a well-funded exploration company
with 18 years of operating, permitting and community relations
experience in Chile and Argentina. Currently Mirasol is
self-funding exploration at two flagship projects, Sobek and Inca
Gold, both located in Chile. Mirasol has seven partner-funded
projects, with Newcrest Mining Ltd, First Quantum Minerals, Mine
Discovery Fund and Mineria Activa in Chile, Silver Sands Resources,
Golden Arrow and Patagonia Gold in Argentina. New projects continue
to emerge as Mirasol advances a strong pipeline of highly
prospective early and mid-stage projects.
For further information, contact:
Tim Heenan, PresidentorTroy Shultz, Vice
President Investor Relations
Tel: +1 (604) 602-9989Email:
contact@mirasolresources.comWebsite: www.mirasolresources.com
Qualified Person Statement: Mirasol’s disclosure
of technical and scientific information in this press release has
been reviewed and approved by Tim Heenan (MAIG), the President for
the Company, who serves as a Qualified Person under the definition
of National Instrument 43-101.
QAQC: Mirasol applies industry standard
exploration sampling methodologies and techniques. All geochemical
rock 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 with insertions of controls (standards,
blanks and duplicates) submitted to the laboratory. Samples were
dispatched to ALS Global - Geochemistry Analytical Lab, in
Santiago, Chile, an ISO 9001:2015 accredited laboratory, which is
independent from the Company. Rock chip samples (1-3kg) were
prepared with PREP31, and analysed by Au_ICP21 and ME-MS61. The
soil samples were prepared with PUL-31, analysed by Au_ICP21 and
ME-MS61. The Stream Sediment, mesh (1kg) samples were prepared by
SCR-51#-80, analysed by ME-MS41L. BLEG (>2kg) is the Bulk Leach
Extractable Gold using a cyanide-based bottle roll technique with
an AA finish. Assay results from 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 and to policies linked
to pandemics, social and environmental related matters.
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.
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