Mirasol Resources Ltd. (TSX-V:
MRZ) (OTC:
MRZLF) (the “
Company” or
“
Mirasol”) is pleased to report that the 2022/23
exploration program continues to advance towards drilling at the
Vania North and Vania South prospects on the Inca Copper-Gold
Project (“Inca Gold”) in Chile. Pursuant to the Exploration
Agreement with Venture Option between Mirasol and affiliates of
Newmont Corporation (“Newmont”), Mirasol has the option to earn-in
100% of Inca Gold, subject to a 1.5% NSR royalty (news release
January 13, 2020).
“Vania South and North are compelling undercover
geophysical targets hosted along a major structural corridor within
this well-endowed world-class copper district. Supported by
geochemical soil survey results and select high-grade rock chip
samples, the Vania South and North targets are scheduled for
drilling in late July,” Mirasol’s President, Tim Heenan, commented.
“In addition, exciting new targets have been discovered with a
strong magnetic signature at Vania East, and a compelling soil
survey multi-elemental geochemical anomaly at Vania SW. A
property-wide airborne mobile MT survey is currently in progress to
validate and refine the existing Vania targets for drilling and
potentially identify new prospects.”
An Inca Gold and Sobek Project Update
Webinar
Webinar with Tim Heenan, the Company’s President
and Patrick Evans, the Executive Chair will be held on July 6th,
2023 at 10:00 am PT / 1:00 pm ET. A brief presentation will be
followed by a Q&A session. Registration can be completed using
this link.
Inca Gold is a large 16,300-hectare property
package located at a relatively low altitude of 2,300m (ASL) in the
Paleocene belt of Chile with year-round access and nearby
infrastructure. The Vania North and South zones are both controlled
along a major north-northeast structural corridor which hosts the
Inca del Oro porphyry to the south and the expansive El Salvador
mining district to the north. Vania South is located at an
important intersection of two faults, the north-south trending
regional Quebrada Vasquez fault, intersecting an east-west trending
undercover interpreted fault passing through the center of the
magnetic anomaly. The Vania North magnetic depletion response is
cradled within two intersecting north-northeast and south-southwest
lineaments and hosts a strong coincident gold soil survey
geochemical anomaly.
Figure 1: Location of Inca Gold Project and the
Vania Prospects
Airborne Mobile MT Geophysical Survey
Initiated at Inca
Mirasol has contracted an Airborne Mobile MT
survey projected to cover the entire Vania prospect at the Inca
project, including the Vania South and North prospects as well as
the recently defined Vania East and SW prospects, with tightly
spaced (100m) helicopter flight lines. Mirasol will also be flying
a MT survey at 200m spaced lines over the 100% controlled Rubi
Project, which is located just 20 km north of Vania. The targets at
Vania and Rubi are similar as they are both totally concealed by
alluvial/colluvial transported gravel material.
Airborne Mobile MT has high-definition depth
penetration to greater than 800m below the surface and has been
proven effective in defining targets in high-sulfidation epithermal
(HSE) and porphyry systems elsewhere in Chile. This MT survey will
aid in refining high-priority targets for the upcoming maiden drill
campaign focused on Vania North and South.
Vania South and Vania North
Targets
As previously reported, the reprocessing and
re-interpretation of the original Newmont ground magnetic (“Mag”)
data resulted in the identification of the Vania South anomaly
located 3 km south of Vania North (news release September 7, 2022).
At the Vania South target a concealed and very strong, discrete
magnetic response exists within the southeast corner of the Mag
grid, showing smooth magnetic textures surrounding the main anomaly
(news release December 8, 2022). Interpretation of the Mag data
suggests that this very strong magnetic anomaly may represent a
concealed copper porphyry target, with the magnetic source
potentially characterizing the potassic-altered core of an
intrusive body and the smooth magnetic border representing the
envelope of hydrothermal alteration. Coincident with the magnetic
responses, strong electrical Pole-Dipole IP geophysical anomalies
are seen in the sections at both Vania North and South resulting in
high-quality geophysical drill targets.
Figure 2: Vania Prospects Overview - Targets
Generated from Reinterpreted and
New Ground Mag Data
Figure 3: Vania Prospects Overview – Coincident
Geochemical Anomalies Strengthen Drill Targets
New Emerging Vania East and Vania SW
Targets
The reprocessing and re-interpretation of the
original Mag data resulted in the definition of a new previously
unknown prospective target at Vania East. In addition,
reinterpretation of geochemical survey data outlined a
multi-element geochemical soil anomaly at Vania SW. Mirasol has
recently completed a detailed Pole-Dipole IP geophysical survey at
Vania East, and a detailed ground magnetic survey at Vania SW. Both
Vania SW and East are localized along a strong north-northeast
structural trend.
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, 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.
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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