Mirasol Resources Ltd. (TSX-V:
MRZ) (OTC:
MRZLF) (the “
Company” or
“
Mirasol”) is pleased to report that the 2022/23
exploration program was successfully advanced at the Company’s
100%-owned Sobek Copper-Gold Project (“Sobek”) in the Vicuña
Copper-Gold-Silver District of Chile with the completion of the
airborne Mobile MT survey and the start of the maiden drill
program. Sobek was originally staked based on prospective local
structural architecture prior to the 2021 discovery of the
high-grade feeder zone at the Filo del Sol gold-copper deposit
located 7 km to the east and NGEx Minerals discovery at Potro
Cliffs 3 km to the east.
“The potential for discovery at the high-profile
Vicuña Copper-Gold district has motivated us to advance Sobek from
initial boots-on-the-ground exploration to the maiden drill
campaign at an extraordinary pace. We will maintain this momentum
and plan to continue drilling as soon as the weather allows for
access in just a few months,” Mirasol’s President Tim Heenan
stated. “The recently completed airborne Mobile MT survey returned
multiple compelling geophysical responses coincident with
geochemical anomalies and encouraging geological observations with
clear evidence of advanced stage hydrothermal activity and
alteration. Impressive precious and base metals results, including
new multi-gram gold results from select rock grab samples at both
the Sobek Central VN-Zone and Sobek North El Potro Zone elevate the
importance of both target areas which will be prioritized when
drilling resumes.”
High-Profile Vicuña
Copper-Gold-Silver District
Sobek was staked in 2016 based on the
prospective geological environment and the local structural
architecture with a compelling north-northeast trending mineralized
structural corridor crosscut by a north-northwest trending
deep-seated trans-cordilleran lineament. This is a common
structural configuration hosting several southern Andes metal
deposits in both Chile and Argentina.
Sobek comprises a large block of property
totaling 11,120 ha of exploration claims in three strategic
locations, the North, Central and South blocks within the
Vicuña Copper-Gold-Silver District. The
high-profile district includes multiple deposits in close proximity
of Sobek, including the Filo del Sol mid-Miocene
epithermal porphyry gold-copper deposit 7 km to the east; the
recent NGEx discovery at Potro Cliffs 3 kilometers
to the east, the Josemaria copper-gold project 10
km to the east-northeast; the Los Helados Porphyry
copper-gold breccia system 20 km to the northeast; and the giant
Eocene El Morro Porphyry copper-gold deposit 16 km
to the west-southwest.
Figure 1: High-Profile Vicuña Copper-Gold-Silver
District Regional Map
Airborne Mobile MT Geophysical Survey
Outlines High-Priority Targets
Mirasol completed a 500-line km Airborne Mobile
MT survey (75 sq.km) covering the entire Sobek Central area
including the CLP, Central Breccia and the VN zones with tightly
spaced (100m) helicopter flown lines. At Sobek North a small area
of Mobile MT coverage was accomplished (13 sq.km) prior to
demobilization of the MT system. The Airborne Mobile MT has
high-definition depth penetration to greater than 800m depth below
surface and has been proven effective in defining targets in
high-sulfidation epithermal (HSE) and porphyry systems elsewhere in
Chile. The survey has outlined a very striking cluster of MT
anomalies in the area just south of the Central Breccia zone, and
another immediately south of the high-grade gold from select
surface sample anomalies at the VN-Zone. Interpretation of these
anomalies suggest they represent intrusive centers. The Central
Breccia, and both the VN-Zone and VN-Zone north lie on the
peripheral rims of these oval shaped MT responses. These Mobile MT
targets were the initial focus of this season’s maiden drill
campaign at Sobek Central.
Figure 2: Compelling Airborne Mobile MT
Geophysical Survey Targets
Sobek Central – Advancing Maiden Drill
Campaign
Based on the results from the Mobile MT survey,
geochemical soil anomalies and select surface rockchip results
Mirasol initiated the maiden drill campaign at Sobek Central. Drill
hole SB-DDH-001 targeted the Sobek Central Breccia zone and was
stopped at a depth of 352m. The second hole, SB-DDH-002, targeted
the rim of a large, strong oval shaped Mobile MT response located
500m directly south-southeast of the Central Breccia Zone. The hole
reached a depth of 586m before being halted due to the onset of
winter weather conditions. Both targets will require follow-up
drilling. With the completion of the access road to the VN-Zone at
a higher elevation this target will be a priority when the drill
campaign resumes in the fourth quarter.
Sobek Central: VN-Zone Prospecting Results
High gold grades continued to be recovered from
prospecting at the VN-Zone, with results up to 5.0 g/t gold and
2200 ppm copper being sourced from recent select grab samples from
the VN-Zone (see Table 1). Another new occurrence of mineralized
veins was recently exposed along the road cut enroute to the
VN-Zone, located approximately 1.4 km north-northeast of the
VN-Zone. Samples collected from this new road-cut exposure returned
values of 1.37 g/t gold and 663 ppm copper, and 0.54 g/t gold and
411 ppm copper. These gold results continue to be sourced from
“Maricunga Type” quartz-magnetite veinlets with argillized margins.
The “M” veinlets are seen to contain anomalous values of copper
(2220 ppm), which is typical in gold-copper “Maricunga Type”
porphyry deposits. The VN-Zone targets will be the first area of
focus for next seasons continuation of the maiden drill campaign at
Sobek Central.
Table 1: Updated Anomalous Gold in
Select Rock Samples from the VN Zone
Sobek North: El Potro (East & West)
Prospect
Mineralization at the El Potro East Zone located
at the southeast corner of Sobek North has been extended further to
the east and is now within 3 km west of NGEx´s recent discovery at
the Potro Cliffs project in Argentina. The newly
encountered areas of interest within the El Potro Zone appear to
host an area of “lithocap type” alteration and mineralization.
Select rock chip samples have returned values ranging from 0.10 to
a high of 4.3 g/t gold with associated silver from 0.30 up to– 25.9
g/t. The geochemistry is distinct from the more “porphyry-like”
geochemical signature returned from the El Potro West Zone, located
at a lower elevation, 450m (ASL) below El Potro East. Potro East
displays higher gold and silver values, with overall lower
associated base metals than seen at Potro West.
Table 2: Updated Sobek North – El Potro
East Select Rock Chip Grab Sample Geochemical Results
Table 3: Updated Sobek North – El Potro
West Select Rock Chip Grab Sample Geochemical Results
About Mirasol Resources Ltd
Mirasol is a well-funded exploration company
with 19 years of operating, permitting and community relations
experience in the mineral rich regions of Chile and Argentina.
Mirasol controls 100% of the high-grade Virginia Silver Deposit in
Argentina and is currently self-funding exploration at two flagship
projects, Sobek and Inca Gold, both located in Chile. Mirasol also
continues to advance 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 chip, soil, and stream sediment 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. Assay results from
rock chip, soil stream sediment, 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.
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/7c406e9a-fea3-48d2-8792-019c6ebe5c2chttps://www.globenewswire.com/NewsRoom/AttachmentNg/55324f34-caad-45dc-a5ae-e94066522e14https://www.globenewswire.com/NewsRoom/AttachmentNg/9407f0dc-18e4-4231-a058-caaac6a097d8
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