Mirasol Advances Flagship Sobek Copper Project in Chile Towards Drilling
NEWS RELEASE
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
March 2, 2023
Shares Issued and Outstanding: 59,244,210
TSX-V: MRZ
OTC: MRZLF
Mirasol Advances Flagship Sobek Copper Project in Chile
Towards Drilling
• Located 7 kilometers directly west of Filo Mining’s Filo del Sol Project
• 500-kilometer helicopter supported A irborne Mobile MT geophysical survey to be
initiated over priority targets at Sobek Central
• Construction of Sobek Central access road underway to support drilling
• Drill campaign scheduled for April
• Encouraging results above 1.0 g/t gold in select rock chip samples from “Maricunga
Type” quartz-magnetite veinlets at Sobek Central
• Multi-percent copper values recovered from select rock chip grab samples at Sobek
Central targets
• Expansion of s trong copper-polymetallic geochemical soil anomaly concentrated
over the Central Breccia Zone hosting upward transported clasts of intensely altered
(quartz/sericite) quartz eye porphyry + oxide box-works after sulphides
• Mirasol is exhibiting at PDAC 2023 - Booth 2118
VANCOUVER, BC, March 2, 20 23 — 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 Company’s 100% -owned Sobek Copper Project (“Sobek”) in Chile. 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.
“We continue to receive impressive precious and base metals results, including multi-percentage copper, from
select rock chip grab samples at Sobek Central. This high-grade mineralization on surface in the high-profile
Vicuña Copper-Gold district, in combination with attractive airborne magnetic responses and very encouraging
geological observations with clear evidence of advanced stage hydrothermal activity and alteration, continue to
reinforce the potential for discovery at Sobek,” Mirasol’s President Tim Heenan stated. “The 202 2/23
exploration campaign is advancing with follow-up exploration, the initiation of an airborne geophysical survey
and the constriction of an access road in preparation for the maiden drill campaign at Sobek planned for April
of this year.”
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
High-profile Vicuña Copper-Gold-Silver District
Sobek was staked in 2016 based on 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 host ing several southern Andes metal deposits in both Chile and
Argentina.
Sobek comprises a large block of properties totaling 11,120 ha of exploration claims in three strategic locations,
the North, Central and South blocks. The high-profile Vicuña Copper-Gold-Silver District is developing in the
Sobek area with multiple deposits in close proximity, including the Filo del Sol mid-Miocene epithermal porphyry
gold-copper deposit 7 k m east of Sobek; the Josemaria copper-gold project 10 k m to the ea st-northeast of
Sobek; the Los Helados Porphyry copper-gold breccia system 20 km to the northeast of Sobek; 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 Planned for Sobek
Mirasol has contracted an Airborne Mobile MT survey projected to cover the entire Sobek Central area including
the CLP, Central Breccia and the VN zones with tightly spaced (100m) helicopter flown lines. Airborne Mobile
MT has high-definition depth penetration to greater than 800m depth 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 at Sobek Central.
SOBEK CENTRAL: VN-Zone Prospecting Results
Higher grade gold results (1.04 & 1.61 g/t gold) from recent select grab samples collected while prospecting in
the high elevation VN -Zone at Sobek Central are very encouraging. These gold results were sourced from
“Maricunga Type” quartz- magnetite veinlets with argillized margins. The M veinlets also contain anomalous
values of copper (700 ppm), which is typical in gold-copper “Maricunga Type” porphyry deposits. A more detailed
mapping and sampling campaign is currently underway to better understand the significance of these
encouraging high-grade results and the geological environment and controls on mineralization.
Figure 2: Anomalous Gold in Select Rock Samples from the VN Zone
SOBEK CENTRAL: Green Wall Zone Extended Further to the East-Southeast Along Trend
Results from r ecent select grab samples collected at the Green Wall Z one has extended the mineralization
1,000m to the southeast towards the edge of the Central Breccia Zone. The structure in this zone appears to
narrow and is represented by quartz stringers and centimeter scale veinlets hosting visible green copper
mineralization returning results above 1.0% copper. A new narrow “seam”, now called the Grieta Verde Zone,
further to the south of the CLP-Zone and somewhat oblique to the Green Wall Zone, has returned encouraging
copper values with highly anomalous gold averaging 0.25 g/t gold from the 10 select grab samples collected from
this area. This narrow “seam” injected into the hosting sediments is similar to that seen in the Green Wall Zone,
which is also hosted in the sediments on the north side of the CLP -Zone. At Grieta Verde, the copper
mineralization is also present in the hosting sedimentary conglomerates and appears to have been concentrated
in and around the clasts within the sediment s. While neither of these zones represent potential stand-alone
targets, the high-grade copper values with associated gold within the hydrothermal system is potentially sourced
from a larger concealed body under either the CLP or the Central Breccia zones, which will be the focus of the
maiden drill campaign.
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
SOBEK CENTRAL: Expansion of Polymetallic Soil Anomaly
The Sobek Central soil sampling grid was expanded to infill and increase the coverage 450m to the southeast of
the Central Breccia Zone. The expansion and infill of the soil grid shows a clear extension of the Central Breccia
polymetallic soil anomaly to the southeast and appears to highlight a copper halo around the main breccia body
with a strong lead/zinc anomaly directly above it (see figure 3). Another widespread copper soil anomaly appears
to be emerging to the south east of the Central Breccia Zone beyond a 250m “quiet” zone. This copper soil
anomaly is emerging with some continuity, coincident with smaller areas of anomalous lead, zinc, silver and
gold. Sampling crews will be continuing to advance the soil grid further to the southeast and on to the south to
cover the area which host the gold-bearing veins at the VN-Zone.
Figure 3: Sobek Central – Expansion of the Multi-element Coincident Geochemical Soil Anomaly
SOBEK NORTH: El Potro Prospect
The El Potro Zone at Sobek North is located approximately 5 km directly west of the NGEX Potro Cliffs project in
Argentina. The newly encountered areas of interest within the El Porto Zone host a system of veins and veinlets
of pyritic bearing quartz vein s with Chrysocolla (copper-silicate). Exploration crews are currently mapping and
prospecting the area and the first batch of samples are with ALS laboratory for analysis.
Preliminary geological observations are highly encouraging and suggest the presence of large Paleocene aged
granitic bodies cut by what appears to be younger intrusives (Mio-Pliocene) of Syenitic and Monzonitic
composition hosting fine sulphides forming “clots” within the matrix. Aphanitic intermediate pyritic dykes also
cut the granites in a northeast direction, and host fine sulphide-rich veinlets with copper oxides cutting the dykes
at a perpendicular angle. In addition, sub -angular float blocks within the creek beds contain molybdenite and
traces of chalcopyrite hosted within what appear to be the younger intrusive rocks. The source of these floats is
currently being investigated. The El Potro access road is scheduled for rehabilitation once the Sobek Central
access road has been completed to allow vehicle access to the higher elevations of the El Potro prospect.
Table 1: Updated Sobek Central Select Rock Chip Grab Sample Geochemical Results
Mirasol at PDAC 2023
Mirasol will be participating at the PDAC 2023 convention in Toronto and invites you to visit us at Booth 2118
(Investors Exchange) in the South Building, Metro Toronto Convention Centre from March 5-8, 2023.
About Mirasol Resources Ltd
Mirasol is a well-funded exploration company with 18 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 c urrently self-funding exploration at two flagship projects, Sobek and Inca
Gold, both located in Chile. Mirasol has three partner-funded projects, with First Quantum Minerals and Mine
Discovery Fund in Chile, and Patagonia Gold in Argentina. Mirasol also continues to advance a strong pipeline of
highly prospective early and mid-stage projects.
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
For further information, contact:
Tim Heenan, President
or
Troy Shultz, Vice President Investor Relations
Tel: +1 (604) 602-9989
Email: [email protected]
Website: 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. Geochemi cal 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 geolo gical 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.
Figure 1: Sobek, High-Profile Vicuña Copper-Gold-Silver District Regional Map
Sobek Landsat 8 Alteration
Strong AlOH Clay + FeOx
Significant Cu Deposit
Significant Au Deposit
Chile
Argentina
Escondida
El Peñon
Antofagasta
Argentina
Chile
Taltal
Chañaral
La Coipa
Potrerillos
El Salvador
Chuquicamata
MRZ Altazor
Project
Filo Del Sol
Jose Maria
Los Helados
MRZ Zeus
Project
Maricunga
Caspiche
100 km
Gorbea
Coronación JV
First Quantum
Minerals
Salares Norte
Copiapó
Mirasol Projects
Sobek
Project
Los Helados
Jose Maria
Filo del Sol
Vicuña District
Sobek
Figure 2: Anomalous Gold in Select Rock Samples from the VN Zone
Figure 3: Sobek Central – Expansion of Polymetallic Soil Anomalies
Table 1: Updated Sobek Central Select Rock Chip Grab Sample Results
Note: Significant assay geochemical results from select rock chip, grab and float samples collected from the exposed dyke structure.
Sample # Target Cu ppm Cu % Au ppm Ag ppm Mo ppm Pb ppm Zn ppm
MCR0024530 Sobek Central -Green Wall Zone 44300 4.43 0.013 13.45 1.24 25.6 52
MCR0024531 Sobek Central -Green Wall Zone 64400 6.44 0.021 44.3 4.63 311 12
MCR0024532 Sobek Central -Green Wall Zone 330 0.03 -0.001 0.2 37.9 21.9 88
MCR0024492 Sobek Central - Green Wall Zone 26400 2.64 0.004 10.45 0.93 69.3 93
MCR0024493 Sobek Central - Green Wall Zone 16400 1.64 0.006 10.85 0.89 271 111
MCR0024494 Sobek Central - Green Wall Zone 7530 0.753 0.009 9.98 30 209 61
MCR0024495 Sobek Central - Green Wall Zone 10200 1.02 0.007 15.6 0.57 160 108
MCR0022251 Sobek Central - Green Wall Zone 147000 14.7 0.028 100 74.1 140 32
MCR0025203 Sobek Central - Green Wall Zone 71800.00 7.18 0.01 59.80 27.30 58.70 45.00
MCR0025210 Sobek Central - Green Wall Zone 2680.00 0.268 0.00 2.28 0.69 10.20 62.00
MCR0025211 Sobek Central - Green Wall Zone 7540.00 0.754 0.02 4.18 13.75 84.50 54.00
MCR0022252 Sobek Central - Green Wall East 12900 1.29 0.015 15.45 26.8 167 45
MCR0022253 Sobek Central - Green Wall East 15400 1.54 0.012 13 7.82 11.8 66
MCR0022254 Sobek Central - Green Wall East 2750 0.275 0.007 1.61 0.85 29.8 73
MCR0022256 Sobek Central - Green Wall East 4280 0.428 0.016 9.49 2.31 447 116
MCR0022260 Sobek Central - Grieta Verde 68800 6.88 0.175 92 1.36 90.4 66
MCR0022261 Sobek Central - Grieta Verde 10650 1.065 0.115 8.04 1.7 14.8 44
MCR0022262 Sobek Central - Grieta Verde 3830 0.383 0.105 2.34 4.71 18.1 55
MCR0022263 Sobek Central - Grieta Verde 5250 0.525 0.118 2.26 0.42 4.3 65
MCR0022264 Sobek Central - Grieta Verde 18350 1.835 0.414 9.53 4.94 13.8 138
MCR0022265 Sobek Central - Grieta Verde 9570 0.957 0.267 4.58 2.36 12.8 128
MCR0022267 Sobek Central - Grieta Verde 18350 1.835 0.359 4.89 1.08 13 92
MCR0022268 Sobek Central - Grieta Verde 12200 1.22 0.258 4.59 0.7 9 114
MCR0022269 Sobek Central - Grieta Verde 7050 0.705 0.315 2.41 0.51 8 127
MCR0022270 Sobek Central - Grieta Verde 12200 1.22 0.36 6.21 2.06 24.9 132
MCR0025102 Sobek Central-VN-Zone 767 0.0767 1.61 0.49 0.47 12.7 40
MCR0025103 Sobek Central-VN-Zone 260 0.026 1.04 0.3 2.45 17.7 38
MCR0025104 Sobek Central-VN-Zone 100 0.01 0.123 0.21 4.54 5.4 15
MCR0024669 Sobek Central - VN-Zone 234 0.0234 0.241 0.24 4.08 12.8 36