Mirasol Advances New Altazor High Sulfidation Epithermal Gold Project, in the Miocene Mineral Belt of Northern Chile
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Mirasol Advances New Altazor High Sulfidation Epithermal Gold Project,
in the Miocene Mineral Belt of Northern Chile
VANCOUVER, BC – October 11, 2017 -- Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF, “Mirasol”, the
“Company”) is pleased to report initial exploration results from its new 100% owned Altazor high sulfidation
epithermal (HSE) gold project located in the prolifically mineralized Mio-Pliocene age mineral belt of Northern Chile.
Altazor comprises approximately 22,900 ha of contiguous exploration claims, and was staked by Mirasol as an
outcome of the Company’s Atacama-Puna Generative program, which is targeting the discovery of large-scale Au+Ag
and Cu deposits in the prolifically mineralized, Tertiary age mineral belts of this region.
Mirasol’s CEO Stephen Nano stated “We are pleased to have added another large scale, quality HSE gold project to
our Chilean portfolio that now establishes Mirasol as one of the leading explorers in this prospective mineral belt.
Altazor has attracted the attention of major gold producers who have expressed interest in a potential joint venture
(JV) on the project”.
Altazor has favourable logistics, situated just 20 km south of 345 kV powerlines that follow International Highway
Route 23, a paved road connecting northern Chile and Argentina (Figure 1). In common with other Mio-Pliocene
mines and projects, Altazor is located at high altitudes of between 4000 and 5200 m; however, Altazor has good
“drive up access” via an open valley and a network of easily passable gravel tracks.
Altazor is situated in an underexplored 860 km long section of the Mio-Pliocene age mineral belt located between
Mirasol’s Yamana Gold - Gorbea Joint Venture (see news release September 11, 2017 on Atlas drill results) and the
historic, now idled, Choquelimpie HSE gold mine in far northern Chile. Mirasol believes the Chilean and Argentine
section of the Mio-Pliocene age mineral belt is highly prospective for the discovery of new world class Au+Ag deposits
as exemplified by the recent discoveries of the 3.8 million-ounce Salares Norte1 by Gold Fields and Barrick Gold’s 6.8
million ounce Alturas2 HSE gold deposits.
Mirasol has used radiometric age-dating on the alteration system at Altazor, which returned a late-Miocene age of
7.8 Ma. This age falls within the key mineralization window of 6.4 to 13.1 Ma that “brackets” the formation of the
large to giant Mio-Pliocene age HSE gold deposits in Chile and Argentina (Figure 1), and suggests that the alteration
system at Altazor was formed during this key period for gold deposit formation in this belt. As such, it may have the
potential of being a productive mineral system.
Altazor is centred within a dacite to andesite composition volcanic complex hosting a very large-scale advanced
argillic alteration system (the alteration “cap”) that appears to extend beneath thin post mineral lavas and may cover
an area of up to 75 sq-km (Figure 2). These caps are characteristically barren of ore grade precious metal
mineralization and can therefore conceal significant gold and silver ore bodies at depth, as is the case at Salares Norte
and Alturas. Mirasol has developed significant in-house knowledge of these systems, including their geochemical
signature, alteration mineral associations, and changes in mineral chemistry and crystallinity, which the Company
uses to vector exploration and target drilling within these extensive HSE alteration caps.
At Altazor, Aster satellite (Figure 2) and in-field pIR-Spec alteration mapping (click on this link to learn more about
pIR-Spec in mineral exploration) show that the current outcrop level of the alteration system correlates to the steam
heated cap portion of the system, and at lower altitudes in the project the top of the silica-alunite zone may be also
exposed (click on this link to learn more about alteration patterns in HSE systems). Steam heated and silica-alunite
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alteration at Altazor is focused on an extensive multiphase phreatomagmatic to hydrothermal breccia complex
currently mapped as a series of discrete bodies over approximately a 5.0 by 1.8 km area (Figure 2 and Figure 3).
Breccia bodies play an important role in large HSE gold systems acting as both channel ways for hydrothermal fluid
flow and a rock preparation mechanism to host mineralization. The presence of multiple, highly altered breccia
bodies at Altazor, individually up to 700 by 350 m, are interpreted as positive features of the project.
Mirasol’s first pass reconnaissance sampling has been completed over approximately 50% of the project area during
the recent exploration season. A total of 216 stream sediment, 395 soil (“talus/lag” material), and 933 rock chip
samples have been collected and returned low-level but significantly anomalous Au, Ag, Cu, Pb, Zn and epithermal
path finder element assays, from sampling of the mapped breccia bodies (Figure 4). Select rock chip samples of silica-
alunite and vuggy silica altered breccia, and veinlets that cross cut the breccia bodies have assayed up to 562 ppb Au,
and 650 ppb Ag. Soil (talus/lag) samples assayed up to 18 ppb Au and 1,080 ppb Ag. The Altazor surface results show
comparable ppb level anomalous gold assay in soils and rock chips to those recorded at surface at the Salares Norte
Project (Table 1). At Salares Norte broad spaced soil (lag) samples assayed typically less than detection limit (5 ppb
Au), with some samples assaying up to 24 ppb Au and an isolated peak soil sample with 628 ppb Au3. The highest
assay for a pre-drill surface rock chip sample at Salares Norte was 53 ppb3.
Mirasol is seeking a JV partner to advance the exploration and drill testing of the Altazor project during this field
season (October 2017 to approximately April 2018). The next stage of exploration at the project is anticipated to
include systematic soil sampling, geological mapping and rock chip sampling, as well as magnetic and electrical
geophysical surveys. These data sets will be used to drive integrated analysis for drill target selection.
To follow the Altazor story, please visit Mirasol’s website at www.mirasolresources.com
Stephen Nano, President and CEO of Mirasol, has approved the technical content of this news release and is a
Qualified Person under NI 43 -101.
For further information, contact:
Stephen Nano
President and CEO
or
Jonathan Rosset
Manager of Corporate Development
Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com
1 Gold Fields. (2016). The Gold Fields Mineral Resource and Mineral Reserve Supplement to the Integrated Annual
Report 2016 .
2 Barrick Gold Corporation. (2016). Annual Report 2016 .
3 Azevedo, F., Brewer, N., Santos, A., Huete Verdugo, D., Baumgartner, R., Roncal, L., Trueman, A. & Foley, A. (2015). The
discovery and geology of the Salares Norte epithermal gold-silver deposit, northern Chile. In NewGenGold 2015 (p145-
157). Perth, Australia.
NEWS RELEASE
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Quality Assurance/Quality Control of the Altazor exploration program:
All exploration on the project was supervised by Mirasol CEO Stephen C. Nano, who is the Qualified Person under NI 43-101.
Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical soil, stream, rock
and drill 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. Samples
are dispatched to an ISO 9001:2008 accredited laboratory in Chile for analysis. Assay results from surface rock, 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 anti cipated 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. 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.