Mirasol Announces the Launch of Partner-Funded Drill Program at the Claudia Gold-Silver Project in Argentina
October 03 2023 - 6:00AM
Mirasol Resources Ltd. (TSX-V:
MRZ) (OTC:
MRZLF) (the “
Company” or
“
Mirasol”) is pleased to announce that its
partner, the Cerro Vanguardia SA Gold-Silver Mine (“CVSA Mine”)
owned by AngloGold Ashanti (92.5%) and FOMICRUZ S.E. (7.5%), has
initiated a drill program at the Claudia Gold-Silver Project
(“Claudia”), located directly south of the CVSA Gold-Silver Mine in
the province of Santa Cruz, Argentina.
The extensive 65,192-hectare Claudia Gold-Silver
Project is a highly prospective low sulphidation epithermal (LSE)
gold/silver project, located in the Deseado Massif of Argentina’s
Santa Cruz province, directly adjacent to the southern border of
the producing CVSA Mine. Under an Option Agreement, CVSA has the
right to acquire a 100 percent interest in Claudia by completing
12,500 meters of diamond drilling within four years. If the Option
is exercised, Mirasol will retain a 2% Net Smelter Royalty on
future production from the Claudia Project (news release May 23,
2023).
Figure 1: District Regional Map
In this first phase of drilling, over 3,300
meters of drilling will be completed in 13 holes ranging from 100
to >400m in depth to test the prospective vein trends which are
potentially southern extensions and/or parallel trends of the CVSA
Mine vein field.
“The accelerated pace of drilling at Claudia
demonstrates the importance of defining potential additional
mill-feed within close proximity to the nearby CVSA
Mine,” Mirasol’s President Tim Heenan stated. “This could
offer significant near-term value to Mirasol shareholders through
the retained 2% net smelter royalty.”
Figure 2: Mineralized Trends and Drill
Targets
Five distinct prospective vein trends have been
identified at Claudia including the Curahue Vein Field and the Rio
Seco Prospect. In 2012, Mirasol discovered the large northwest
trending 15-kilometer long Curahue vein field, which may be
considered a southern parallel structure, similar to the
controlling structures further north at the Cerro Vanguardia vein
field. Curahue hosts six isolated vein segments. Claudia also hosts
two paleo-surface expressions of “sinter fields” at both Calandria
and Rio Seco. These sinters are considered attractive targets as
any mineralized structure found beneath would be completely
preserved and not reduced by erosion. Neither of these sinter
occurrences have been drilled to date. The exploration potential of
the Claudia Project, particularly along the largely untested
Curahue and Rio Seco trends, shows clear potential for
Vanguardia-style vein-hosted epithermal gold-silver
mineralization.
Homenaje Gold-Silver Project in
Argentina
Mirasol today also announces that the option
agreement on the Homenaje Gold-Silver Project in Argentina
(“Homenaje”) with Patagonia Gold Corp. (“Patagonia”) has been
terminated. Patagonia failed to complete the contractual minimum
obligations on exploration during the term of the option agreement
(news release dated April 19, 2021). With 100% interest in
Homenaje, Mirasol is evaluating options to advance exploration at
Homenaje.
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 is currently self-funding exploration at two flagship
projects, Sobek and Inca Gold, both located in Chile and controls
100% of the high-grade Virginia Silver Deposit in Argentina.
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 RelationsTel: +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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