Mirasol Announces Assay Results from the Second Drill Program and Results from Initial Gold Leach Recovery Tests from the La Curva OceanaGold JV
NEWS RELEASE
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Tel: 604.602.9989 Fax: 604.609.9946 E-mail: [email protected]
www.mirasolresources.com
Mirasol Announces Assay Results from the Second Drill Program and Results from
Initial Gold Leach Recovery Tests from the La Curva OceanaGold JV
VANCOUVER, BC – March 4, 2019 -- Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF, “Mirasol”) is pleased
to announce assay results from the second program of drilling and initial cyanide extractable gold tests of the
mineralization from the La Curva OceanaGold (OGC) JV in Santa Cruz province, Argentina.
The CEO of Mirasol, Norm Pitcher, stated “We are encouraged by the drill results received from this program
and the initial indication of metallurgically favourable characteristics of the Au mineralization at the SouthWest
prospect. Based on the results of this program high priority drill targets have been generated for future drilling”.
Highlights from the Second Drill Program and Cyanide Leach Analysis
• The second program of diamond core and reverse circulation drilling was completed at the project,
totalled 3,227.8m in 17 holes, testing targets at the Curva West prospect and the Castora Trend’s Cerro
Chato, SouthWest and Pison prospects (Figure 1).
• Encouraging anomalous Au+Ag intersections were returned at the 3 Castora Trend Prospects, with best
results received from SouthWest drill holes SW-DDH-08,09 and SW-RC-01, and Cerro Chato drill hole CC-
DDH-010 (Table 1):
o SW-DDH-08 20.0 m at 0.97 g/t Au and 1.9 g/t Ag,
Including, 5.50 m at 2.11 g/t Au and 4.3 g/t Ag
o SW-DDH-09 135.6 m at 0.54 g/t Au and 3.8 g/t Ag,
Including, 0.60 m at 12.95 g/t Au and 220.0 g/t Ag,
5.40 m at 1.55 g/t Au and 10.4 g/t Ag, and
1.05 m at 10.72 g/t Au and 60.0 g/t Ag
o SW-RC-01 60.0m at 0.43 g/t Au and 6.6 g/t Ag,
Including, 3.0m at 3.62 g/t Au and 54.3 g/t Ag
o CC-DDH-010 26.3m at 0.56 g/t Au and 10.7 g/t Ag
Including, 0.45 m at 24.1 g/t Au and 87.3 g/t Ag.
• Results from all drilling to date and surface geology at SouthWest, outline a NW oriented 1,100 m long
and up to 300 m wide target zone for Au+Ag mineralization. Cross sections through th is target, show
Au+Ag grades vectors to depth and the north, toward a large NW striking normal fault that may have
acted as a “feeder structure” to mineralization. This structure represents a compelling drill target for
higher grade Au+Ag mineralization (Figure 2 and Figure 3).
• Nine samples weighing up to 1 kg, composited from mineralized drill assay pulps from the SouthWest
and Cerro Chato prospects, were assayed via t he LeachWELLTM process, as an initial test of cyanide
recoverable gold characteristics of the main styles of mineralization recogn ized to date (Table 2 ).
Encouraging gold recoveries were received f rom the SouthWest prospect with 93.9 % gold recovery
achieved from banded epithermal vein style mineralization and an average 69.5% from Mineralization
Style 2, breccia matrix mineralization ( with an average of 73.6% recovery from all samples for the
prospect). The banded epithermal vein style mineralization at Cerro Chato returned a gold recovery of
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98.58%, however recoveries for Style 1 sulfide veinlet and breccia matrix mineralization were much
lower at the Cerro Chato prospect, averaging 26.2%.
• Petrographic analysis of the different styles of mineralization confirm free gold and ruby silver (proustite
– pyrargyrite) are consistently present in the banded vein mineralization at Cerro Chato and SouthWest,
and also present in the Style 2 breccia matrix mineralization at SouthWest, correlating with the samples
showing better cyanide leachable gold recovery. Further exploration at La Curva will be directed toward
drill targets where these metallurgically more favourable styles of mineralization are dominant.
Integrated analysis of results and drill hole targeting are in progress ahead of a n OGC and Mirasol JV meeting,
planned for the end of March 2019, where future exploration priorities for the project will be decided.
Additional Geological Information and Analysis of La Curva Drill Results are detailed on Appendix A in this news
release.
Stephen Nano, a Director of Mirasol Resources, has approved the technical content of this news release. Mr
Nano is a Chartered Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP
and FAusIMM) and is a Qualified Person under NI 43 -101.
For further information, contact:
Norm Pitcher, President and CEO, or
Jonathan Rosset, Vice President of Corporate Development
Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com
Additional Explanatory Notes: * AuEq60 is the sum of the value of gold and silve r in a given interval
represented as a gold equivalent g/t value calculated via the formula: Au assay in g/t + (silver assay in g/t ÷ 60)
Quality Assurance/Quality Control of the La Curva exploration program:
All exploration on the project was supervised by Mirasol Stephen C. Nano, who is the Qualified Person under NI 43-101.
Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical 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 labor atory in Argentina for analysis. Assay results from surface rock, channel, trench, and
drill core or reverse circulation 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 othe r 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 rele vant 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, mi neral 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 releas e
Table 1: La Curva JV, Length Weighted Average Assay Composites at 0.1/0.3/1.0 g/t AuEq Cutoff. March 2019
Down Hole Intersection at
0.3 AuEq60 g/t cut off
Down Hole Intersection at
1.0 AuEq60 g/t cut off
Down Hole Intersection at
0.1 AuEq60 g/t cut off
La Curva JV: Castora Trend Phase 1 and 2 Down Hole Drill Intersections
with a Gold Equivalent Gram x Metre Product ≥ 5 Gram Metres
NOTES
1) Gold Equivalent grade (AuEq60) is calculated using
following formula: Gold + (Silver / 60)
2) AuEq60 Gram Metre interval is calculated using:
AuEq60 (g/t) x down hole intersection length (m)
3) Intervals are calculated at the stated AuEq60 (g/t) cut off
but may include up to a maximum individual intersection below the
stated cutoff grade of:
a) 0.1 g/t AuEq60 Cutoff up to 3.6m
b) 0.3 and 1.0 g/t AuEq60 Cutoff up to 2.0m
4) Hole Number refers to prospect then drilling type then number.
- Prospects are ”CC” Cerro Chaco, “LA” Loma Arthur,
“PSN” Pison and “SW” SouthWest.
- Drilling types are “DDH” diamond drilling and
“RC” reverse circulation.
5) Samples from deeper parts of RC holes (denominated by *) were
wet, therefore may have lower recoveries and be a less representative
gold grade.
Hole
Number
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)
AuEq x
Interval Reported
Hole
Number
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)
AuEq x
Interval Reported
Hole
Number
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)
AuEq x
Interval Reported
CC-DDH-008 22.00 123.00 101.00 0.33 2.3 0.37 37.4 45.40 50.00 4.60 1.22 5.6 1.31 6.0 CC-DDH-009 17.00 23.00 6.00 1.30 3.2 1.35 8.1
70.30 76.00 5.70 0.93 4.6 1.00 5.7
1.00 44.00 43.00 0.46 6.6 0.57 24.5 82.00 99.20 17.20 0.54 1.9 0.57 9.8 CC-DDH-010 66.25 66.70 0.45 24.10 87.3 25.56 11.5
153.00 200.74 47.74 0.18 1.6 0.21 10.0
1.00 10.00 0.77 2.6 0.81 7.3 CC-RC-001* 56.00 58.00 2.00 8.68 59.9 9.68 19.4
51.15 77.45 26.30 0.56 10.7 0.74 19.5 17.00 26.00 1.06 3.4 1.12 10.1
147.00 202.00 55.00 0.12 1.1 0.14 7.7 54.70 55.50 0.80 6.12 18.6 6.43 5.1
CC-DDH-010 66.25 67.20 0.95 11.57 42.4 12.28 11.7 109.25 110.10 0.85 5.99 5.9 6.09 5.2
CC-RC-001* 22.00 95.00 73.00 0.43 3.7 0.50 36.5
CC-RC-001* 52.00 60.00 8.00 2.37 16.6 2.65 21.2 CC-DDH-002 52.00 57.00 5.00 1.35 2.6 1.39 7.0
16.10 64.00 47.90 0.48 2.1 0.52 24.9
93.25 119.20 25.95 0.47 1.1 0.49 12.7 38.60 58.25 19.65 0.72 2.6 0.77 15.1 CC-DDH-003 17.80 19.00 1.20 10.56 1.7 10.59 12.7
109.25 115.00 5.75 1.24 2.0 1.27 7.3
40.75 65.10 24.35 0.55 2.3 0.58 14.1 LA-DDH-003 33.50 37.40 3.90 1.80 0.6 1.81 7.1
111.35 141.20 29.85 0.34 2.6 0.38 11.3 45.60 59.50 13.90 0.81 2.6 0.85 11.8
120.00 132.60 12.60 0.59 3.9 0.65 8.2 LA-DDH-004 25.50 32.90 7.40 1.81 0.7 1.83 13.5
16.90 23.00 6.10 2.24 0.9 2.26 13.8
26.00 84.00 58.00 0.21 8.4 0.35 20.3 17.80 20.00 2.20 6.02 1.0 6.04 13.3 SW-DDH-008 201.00 206.50 5.50 2.11 4.3 2.18 12.0
50.20 56.50 6.30 0.60 31.8 1.13 7.1
CC-DDH-004 17.00 35.70 18.70 0.30 1.0 0.31 5.8 38.50 39.50 1.00 3.81 71.8 5.01 5.0
39.00 45.15 6.15 0.83 3.7 0.89 5.5 74.90 75.50 0.60 12.95 220.0 16.62 10.0
35.50 63.90 28.40 0.51 1.8 0.54 15.3 96.00 106.00 10.00 0.52 1.8 0.55 5.5 158.80 159.85 1.05 10.72 60.5 11.72 12.3
94.50 129.00 34.50 0.33 1.7 0.36 12.4
LA-DDH-003 31.50 41.70 10.20 0.91 3.4 0.97 9.9 SW-RC-001* 97.00 100.00 3.00 3.62 54.3 4.53 13.6
CC-DDH-006 25.30 52.00 26.70 0.20 0.8 0.21 5.6
LA-DDH-004 25.50 38.50 13.00 1.22 0.7 1.23 16.0 28.00 29.80 1.80 6.88 84.9 8.29 14.9
CC-DDH-007 133.00 161.00 28.00 0.31 1.7 0.34 9.5 105.50 107.00 1.50 3.35 6.2 3.45 5.2
PSN-DDH-001 167.00 180.50 13.50 0.37 3.5 0.43 5.8 120.35 123.60 3.25 2.04 10.3 2.21 7.2
LA-DDH-001 14.00 49.20 35.20 0.25 1.3 0.27 9.5 129.65 133.00 3.35 2.83 10.9 3.01 10.1
SW-DDH-008 196.00 207.70 11.70 1.39 2.8 1.43 16.7 140.50 143.70 3.20 2.04 3.6 2.10 6.7
LA-DDH-003 22.00 45.00 23.00 0.58 1.7 0.61 14.0 155.00 156.45 1.45 3.50 11.3 3.69 5.4
38.50 39.50 1.00 3.81 71.8 5.01 5.0
LA-DDH-004 25.50 41.50 16.00 1.02 0.9 1.04 16.6 74.90 75.50 0.60 12.95 220.0 16.62 10.0
94.50 107.00 12.50 0.70 4.2 0.77 9.6
59.00 83.50 24.50 0.13 4.4 0.21 5.1 116.60 122.00 5.40 1.55 10.4 1.73 9.3
151.00 233.00 82.00 0.22 2.2 0.26 21.3 150.80 165.60 14.80 1.29 7.3 1.42 21.0
SW-DDH-007 79.00 114.60 35.60 0.13 1.6 0.16 5.7 SW-RC-001* 96.00 104.00 8.00 1.82 23.0 2.20 17.6
99.50 149.00 49.50 0.19 1.6 0.21 10.4 28.00 34.20 6.20 2.33 31.1 2.85 17.7
196.00 216.00 20.00 0.97 1.9 1.00 20.0 101.90 111.00 9.10 1.00 4.2 1.07 9.7
120.35 123.60 3.25 2.04 10.3 2.21 7.2
24.90 53.80 28.90 0.27 4.2 0.34 9.8 129.65 135.00 5.35 2.00 7.3 2.12 11.3
70.40 206.00 135.60 0.54 3.8 0.60 81.4 140.50 167.20 26.70 0.82 2.2 0.86 23.0
SW-DDH-010 86.00 105.00 19.00 0.24 4.3 0.31 5.9 SW-DDH-005 116.00 135.00 19.00 0.53 2.0 0.56 10.6
SW-DDH-011 20.50 175.13 154.63 0.22 2.2 0.26 40.2
SW-DDH-012 120.45 126.60 6.15 0.94 3.4 0.99 6.1
SW-RC-001* 44.00 104.00 60.00 0.43 6.6 0.54 32.4
28.00 43.10 15.10 1.03 14.0 1.26 19.0
74.20 180.40 106.20 0.61 2.7 0.65 69.0
SW-DDH-005 88.00 140.00 52.00 0.41 3.0 0.46 23.9
28/02/2018
SW-DDH-002
CC-DDH-008
CC-DDH-009
PSN-DDH-001
This News
Release
SW-DDH-002
SW-DDH-008
SW-DDH-009
CC-DDH-005 28/02/2018
CC-DDH-002
CC-DDH-003
This News
Release
CC-DDH-001
CC-DDH-009
CC-DDH-010
9.00This News
Release
CC-DDH-001
28/02/2018
CC-DDH-002
CC-DDH-003
CC-DDH-005
SW-DDH-009
28/02/2018
CC-DDH-001
SW-DDH-009
This News
Release
SW-DDH-002
This News
Release
28/02/2018
This News
Release
28/02/2018
Table 2: La Curva JV, Metallurgical Testwork. March 2019
Mirasol Sample preparation :
• Each 1kg LeachWELLTMsample was composited from 200-500g pulverised samples of the pulp
rejects from diamond drill core assay samples
• Each LeachWELLTM sample was selected for inclusion in the composite samples using fire assay
gold, multielement analysis and geological descriptions of the drill core to represent the range
of mineralisation styles recognised to date and the SouthWest and Cerro Chato prospects.
LeachWELLTM gold analysis:
• ALS Laboratory proprietary 4 hour accelerated cyanide leach process using LeachWELLTM Assay TabsTM
with an AAS gold analysis finish of the pregnant cyanide solution.
• Table column “LeachWELLTM Gold Ext'n (%)” represent the percentage of gold recovered from each
1kg sample via the 4 hour duration cyanide leach process.
• LeachWELLTM Residue Gold (g/t) is determined via 30g fire assay of the tails post cyanide leach.
• Source: ALS: Schedule of Services & Fees. Geochemistry 2018 USD.
Hole
Number
From
(m)
To
(m)
Interval
(m)
Sub-Sample Weights
LeachWellTM
(g)
LeachWELLTM
Sample
Number
Total Weight
LeachWELLTM Sample
(g)
Mineralisation
Style
LeachWELLTM
Gold
(g/t)
LeachWELLTM
Residue
(g/t/)
LeachWELLTM
Total Gold
(g/t)
LeachWELLTM
Gold Ext'n
(%)
SouthWest
SW-DDH-002 105.50 107.00 1.50 200
LMLW0001 1,000 Style 2: Breccia
Matrix Fill 1.900 0.824 2.724 69.75 %
SW-DDH-002 120.35 121.85 1.50 200
SW-DDH-002 140.50 141.60 1.10 200
SW-DDH-002 141.60 142.90 1.30 200
SW-DDH-002 155.00 156.45 1.45 200
SW-DDH-002 101.90 103.00 1.10 200
LMLW0002 1,000 Style 2: Breccia
Matrix Fill 1.633 0.201 1.834 89.04 %
SW-DDH-002 129.65 131.10 1.45 200
SW-DDH-002 131.10 133.00 1.90 200
SW-DDH-002 133.00 135.00 2.00 200
SW-DDH-002 142.90 143.70 0.80 200
SW-DDH-009 74.90 75.50 0.60 200
LMLW0003 1,000 Style 3: Colloform
Banded Veins 8.660 0.565 9.225 93.88 %
SW-DDH-009 116.60 117.15 0.55 200
SW-DDH-009 118.00 118.55 0.55 200
SW-DDH-009 158.80 159.35 0.55 200
SW-DDH-009 159.35 159.85 0.50 200
SW-DDH-009 45.00 46.00 1.00 300
LMLW0004 900 Style 2: Breccia
Matrix Fill 0.865 0.396 1.261 68.60 %SW-DDH-009 95.00 95.60 0.60 300
SW-DDH-009 102.50 103.25 0.75 300
SW-DDH-009 105.00 107.00 2.00 300
LMLW0005 900 Style 2: Breccia
Matrix Fill 0.393 0.235 0.628 62.58 %SW-DDH-009 143.50 145.50 2.00 300
SW-DDH-009 171.50 172.70 1.20 300
SW-DDH-009 150.80 151.30 0.50 250
LMLW0006 1,000 Style 2: Breccia
Matrix Fill 0.516 0.382 0.898 57.46 %SW-DDH-009 155.18 156.10 0.92 250
SW-DDH-009 158.20 158.80 0.60 250
SW-DDH-009 160.35 161.05 0.70 250
Cerro Chato
CC-DDH-010 113.00 114.50 1.50 200
LMLW0007 1,000 Style1: Vein Breccia
Matrix Fill 0.100 0.235 0.335 29.85 %
CC-DDH-010 120.00 121.90 1.90 200
CC-DDH-010 127.00 128.00 1.00 200
CC-DDH-010 157.10 158.00 0.90 200
CC-DDH-010 158.00 159.70 1.70 200
CC-DDH-010 61.20 61.90 0.70 500 LMLW0008 1,000 Style 3: Colloform
Banded Veins 14.745 0.212 14.957 98.58 %CC-DDH-010 66.25 66.70 0.45 500
CC-DDH-010 74.80 76.00 1.20 500 LMLW0009 1,000 Style1: Vein Breccia
Matrix Fill 0.060 0.206 0.266 22.56 %CC-DDH-010 114.50 115.50 1.00 500
La Curva Project
Curva
West
Castora
Trend
3
Highway
Figure 1: La Curva Project, La Castora Second Drill Program Overview OGC Joint Venture La Curva JV. March 2019
1 to 67.1
0.5 to 1
0.25 to 0.5
0.1 to 0.25
Rock chip geochemistry
Gold Equivalent g/t (Au+(Ag/60))
Jurassic Age Units
Legend
Structure
Interpreted structure
Drill Hole Collar and Trace
Holes reported February 2018
Loma Arthur
Program 1 Drilling: Five holes
Totalling 512m
Santa
Cruz
Province
Argentina
Chile
Mapped Geology
Interpreted stratigraphy
Short drill hole Label format: CC-01 / CC-01R
Actual Label format: CC-DDH-001 / CC-RC-001
Gravel Cover
Gravel Cover
Gravel Cover
Gravel Cover
Gravel Cover
Gravel Cover
Gravel Cover
Pison
Program 2 Drilling: One hole
Totalling 251m
New holes this campaign
Cerro Chato
Program 2 Drilling: Four Holes; 937m
Program 1 Drilling: Eight Holes; 1,601m
Totalling Twelve Holes; 2,538m
SouthWest
Program 2 Drilling: Seven Holes; 1,347m
Program 1 Drilling: Six Holes; 907m
Totalling Thirteen Holes; 2,254m
Figure 2: La Curva JV, SouthWest Prospect Length Weighted Average Down Hole Intersections. March 2019
1 to 6.3
0.5 to 1
0.25 to 0.5
0.1 to 0.25
Rock chip geochemistry
Gold Equivalent g/t (AuEq1)
0.05 to 0.1
0.0 to 0.05
BLD
1 AuEq = Au g/t + Ag g/t / 60
La Curva
Project
SouthWest
3
Highway
> 1.0
> 0.3
> 0.1
AuEq1 Composites g/t
Labelled in figure
where intersection is
above 5gm AuEq60*
(From Table 1)
* gm = AuEq60 (g/t) x intersection length (m)
Using 1.0 and 0.3 g/t cut off AuEq60
Bolded intercepts are from this drilling round
A – Additional intersections not in Table 1
Interpreted structure
6.20m @ 2.33 g/t Au & 31.1 g/t Ag
Inc. 1.80m @ 6.88 g/t Au & 84.9 g/t Ag
9.10m @ 1.00 g/t Au & 4.2 g/t Ag
Inc. 1.50m @ 3.35 g/t Au & 6.2 g/t Ag
26.70m @ 0.82 g/t Au & 2.2 g/t Ag
Inc. 3.20m @ 2.04 g/t Au & 3.6 g/t Ag
also Inc. 1.45m @ 3.50 g/t Au & 11.3 g/t Ag
3.25m @ 2.04 g/t Au & 10.3 g/t Ag
5.35m @ 2.00 g/t Au & 7.3 g/t Ag
Inc. 3.35m @ 2.83 g/t Au & 10.9 g/t Ag
19.00m @ 0.53 g/t Au & 2.0 g/t Ag
SW-05
SW-01
SW-03
SW-06 SW-04
SW-02
SW-01R
SW-12
SW-10
SW-08
SW-07
SW-09
SW-11
11.70m @ 1.39 g/t Au & 2.8 g/t Ag
Inc. 5.50m @ 2.11 g/t Au & 4.3 g/t Ag
8.00m @ 1.82 g/t Au & 23.0 g/t Ag
Inc. 3.00m @ 3.62 g/t Au & 54.3 g/t Ag
14.80m @ 1.29 g/t Au & 7.3 g/t Ag
Inc. 1.05m @ 10.72 g/t Au & 60.5 g/t Ag
0.60m @ 12.95 g/t Au & 220.0 g/t Ag
1.00m @ 3.81 g/t Au & 71.8 g/t Ag
12.50m @ 0.70 g/t Au & 4.2 g/t Ag
5.40m @ 1.55 g/t Au & 10.4 g/t Ag
A1.2m at 1.13 g/t Au and 3.9 g/t Ag
Drill Hole Collar and Trace
Mapped Geology – Jurassic Age Units
Laminated / massive
and fine ash tuffs
Hydrothermal breccia
Rhyolite dyke/Flows
Graded Units
Conglomerates to sandstone
Crystal- Lithic tuffs
Epiclastic Polymict Breccia
Permian Quartz Sandstone
Holes reported February 2018
New holes this campaign
Short drill hole Label format: CC-01 / CC-01R
Actual Label format: CC-DDH-001 / CC-RC-001
?
?
?
?
Principal target area
1,100 x 300m, from drill
intersections and surface
rock chip assays
Figure 3: La Curva JV, SouthWest Prospect - Interpreted Cross Section. March 2019
Fine lacustrine sediments
Pyroclastic units
Interpreted Lithology
Epiclastic sediments
Dome related breccias
Basal epiclastic breccia
Epithermal veining
1 to 6.3
0.5 to 1
0.25 to 0.5
0.1 to 0.25
Rock chip geochemistry
Gold Equivalent g/t (AuEq1)
0.05 to 0.1
0.0 to 0.05
BLD1 AuEq = Au g/t + Ag g/t / 60
AuEq1 Composites g/t
> 1.0
> 0.3
> 0.1
Labelled in figure
where intersection is
above 5gm AuEq60*
(From Table 1)
* gm = AuEq60 (g/t) x intersection length (m)
Using 1.0 and 0.3 g/t cut off AuEq60
Bolded intercepts are from this drilling round
Drill Hole Collar and Trace
SW-03
SW-01RSW-11
SW-11 SW-09 SW-02 SW-01R
14.80m @ 1.29 g/t Au & 7.3 g/t Ag
Inc. 1.05m @ 10.72 g/t Au & 60.5 g/t Ag
0.60m @ 12.95 g/t Au & 220.0 g/t Ag
1.00m @ 3.81 g/t Au & 71.8 g/t Ag
12.50m @ 0.70 g/t Au & 4.2 g/t Ag
5.40m @ 1.55 g/t Au & 10.4 g/t Ag
26.70m @ 0.82 g/t Au & 2.2 g/t Ag
Inc. 3.20m @ 2.04 g/t Au & 3.6 g/t Ag
also Inc. 1.45m @ 3.50 g/t Au & 11.3 g/t Ag
6.20m @ 2.33 g/t Au & 31.1 g/t Ag
Inc. 1.80m @ 6.88 g/t Au & 84.9 g/t Ag
Cross
Section
Holes reported February 2018
New holes this campaign
Target
8.00m @ 1.82 g/t Au & 23.0 g/t Ag
Inc. 3.00m @ 3.62 g/t Au & 54.3 g/t Ag
Short drill hole Label format: CC-01 / CC-01R
Actual Label format: CC-DDH-001 / CC-RC-001
9.10 @ 1.00 g/t Au & 4.2 g/t Ag
Inc. 1.50 @ 3.35 g/t Au & 6.2 g/t Ag
5.35 @ 2.00 g/t Au & 7.3 g/t Ag
Inc. 3.35 @ 2.83 g/t Au & 10.9 g/t Ag
3.25 @ 2.04 g/t Au & 10.3 g/t Ag
Appendix 1: Additional Geological Information and Analysis of Drill Results
From the Second Program of La Curva Drilling
The second drill program at the La Curva OGC JV was completed in the December quarter of 2018 testing targets
at the Curva West prospect and Castora Trend, Cerro Chato , SouthWest and Pison prospects. The program
encompassed a total of 3,227.8 m drilled in 17 holes. This included 375m of reverse circulation (RC) drilling in 4
holes and 2,852.8 m of diamond core drilling in 13 holes (Figure 1).
Five holes totalling 692 m were drilled at the Curva West prospect to test conceptual targets exploring for the
source of Au+Ag mineralized vein and breccia blocks, that occurred as clasts in a sequence of Jurassic age
sedimentary breccias, deposited along the edge of a regional scale horst block (see news release September 19,
2018). Drilling did not intersect an in situ source for the blocks of Au+Ag mineralization. Mirasol is evaluating
the geological information gleaned from this drilling to determine if further exploration is warranted at this
prospect.
Twelve holes totalling 2,160.8 m were drilled at the Castora Trend, Cerro Chato, SouthWest and Pison prospects,
as follow-up test of epithermal Au+Ag mineralization intersected in the previous round of drilling at Cerro Chato
and SouthWest (see news release February 28, 2018), and providing a first dril l test of a Au+Ag anomalous, 50
m diameter breccia pipe that outcrops at Pison. All drill holes intersected Au+Ag mineralization, further
expanding the footprint of the large Castora Trend Au+Ag system. Length weighted average Au+Ag intersections
at 0.1, 0.3 and 1.0 g/t AuEq60* cut offs are presented in this news release, where the assay grade multiplied by
length of intersection is greater than 5 gram/metres (Table 1).
On the basis of observations from drill core and initial petrographic studies, the Casto ra Trend mineralization
and alteration can be differentiated into 4 styles described below in paragenetic sequence from earliest to more
recent.
• Style 1: Veinlet and breccia matrix fill of chalcedonic silica + pyrite + arsenopyrite mineralization that
hosts lower grade gold mineralization (typically <0.5 g/t Au) and has an Au:Ag content of
approximately 1:1. No free gold has been seen in this phase of mineralization. Gold is thought to
occur as small inclusions in the pyrite and arsenopyrite.
• Style 2: Breccia matrix fill of quartz + adularia + pyrite with gold inclusions + free gold + ruby silver
minerals.
• Style 3: Colloform banded veins quartz + adularia + pyrite with gold inclusions + common free gold
+ ruby silver minerals and minor siderite / rhodochrosite?
• Style 4: Late stage veins and breccia matrix fill of dickite + kaolinite and illite / sericite + carbonate,
probably representing retrograde collapse in the waning stages of the mineral system. This stage
carries no visible Au or Ag mineralization.
Mineralization Styles 2 and 3 are the higher -grade Au+Ag mineralizing styles recognized to date at the project
and may be the product of the same pulses of mineralizing fluids, deposited to form banded fissure veins in
brittle tuff units and matrix fill in brecciated rhyolite flow domes. These styles of mineralization carry free gold
and ruby silver minerals . Initial cyanide leach tests indicate they have favourable meta llurgical characteristics
(Table 2).
Mineralization Style 2 breccia matrix fill is best developed with brecciated rhyolite domes. Mineralization Style
3, colloform banded veins is developed as individual veinlets from a few centimetres up to 30 cm in width. These
veins may form dispersed vein zones that range up to +10m wide downhole and may overprint Mineralization
Style 2 breccia matrix fill, significantly increasing the grade through these sections of the drill hole.