Mirasol Announces Encouraging Surface Exploration Results from its Sascha Marcelina Project in Santa Cruz Province, Argentina
NEWS RELEASE
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Mirasol Announces Encouraging Surface Exploration Results from its
Sascha Marcelina Project in Santa Cruz Province, Argentina
VANCOUVER, BC, July 18, 2019 — Mirasol Resources Ltd. (TSX -V: MRZ) (OTCPK: MRZLF) (the “ Company” or
“Mirasol”) is pleased to announce updated surface exploration results from its Sascha Marcelina Low Sulfidation
Epithermal (“LSE”) gold-silver project in the Santa Cruz Province of Argentina. The project is located 100 km south
of Newmont Goldcorp’s Cerro Negro mine and displays similar geologic and geomorphic settings.
Mirasol’s President and CEO, Norm Pitcher, stated: “We are pleased to provide an update on the work completed
since the consolidation of the Sascha Marcelina project that was announced earlier this year. Our exploration
activities were focused on the previously underexplored Marcelina claims and to date, the results have been very
encouraging with numerous high-grade results in the new Estancia, Pellegrini and Igloo prospects. The project
warrants further work to define drill targets but is shaping up to host multiple attractive and untested prospects.”
Sacha Marcelina Exploration Overview
The surface exploration activities completed this field season on the Sascha Marcelina project include geological
mapping aided by the acquisition of drone supported high-resolution base images, detailed rock chip sampling,
extensive soil grid sampling ( with PXRF sourced geochemistry ) and the acquisition of alteration data using in -
house handheld ASD (Analytical Spectral Devices) technology on all of the rock chips and soil samples collected
to date. This recent work has defined a large alteration footprint of more than 20 km2, located in the immediate
vicinity of the Marcelina claims , and hosting an epithermal silica vein system with multiple mineralized trends.
Within this area, new prospects have been recognized , with the “Estancia Trend” and the “Igloo Trend” , both
located in close proximity to an extensive silica cap ( the “ Pellegrini Silica Cap ”), which is interpreted as
representing the preserved fossil paleosurface of a low sulfidation system (Figure 1).
To date, a total of 422 new rock chip samples have been collected from within the Marcelina area with assays as
high as 27.7 g/t Au and 121 g/t Ag, taken from epithermal silica vein/veinlets and silica- hematite hydrothermal
breccias. These precious metal values are accompanied by highly elevated epithermal pathfinder ele ments
including arsenic, antimony, tellurium, and anomalous lead and zinc. Strong positive correlations of key elements
within the “epithermal suite” can be statistically recognized between gold, silver, arsenic and antimony (Figure
2).
• Estancia
The Estancia Trend is represented by a NW trending structure hosting epithermal veins, veinlets and stockworks,
which can be traced intermittently for more than 3 k m through three principal outcropping zones identified as
the Estancia South, Central and North zones (Figure 3).
The mineralization recognized within the Estancia South zone is emplaced into Chon Aike formation ignimbrites,
which are known to be a permissive/brittle geological formation for mineralization in the Deseado Massif. This
formation is interpreted to represent the deepest level of erosion with respect to the known geological
stratigraphy mapped and hosts the most continuous and well-developed epithermal veins and veinlets with the
highest gold and silver grades to date on the Marcelina claims. This suggests that the Estancia South zone is
within or approaching the “productive level” of the mineralized epithermal column. The exposed mineralization
at Estancia Central and North Zone, is hosted in the overlying La Matilde formation which is generally not
considered to be an ideal host rock, although outcropping veinlets report highly anomalous gold values up to
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1.86 g/t. Typically these values are hosted by irregular zones of stockworks and sheeted veinlets , which locally
can form discrete bodies up to 20 m wide within the broader Estancia structural zone.
Interpretations based on the stratigraphic mapping, multi -element geochemistry, ASD alteration patterns and
quartz silica species and textures suggest that both Estancia Central and North zones report to a higher level
within the epithermal column. The Chon Aike formation, which is interpreted to underlie both the Central and
North zones, is considered an attractive target for higher grade Au and Ag mineralization. It is also important to
highlight that these mineralized trends disappear under post -mineral cover to both the south and north from
their current mapped traces and are considered open along strike (Figure 3).
At Estancia South Zone, which represents the deepest part of the system recognized to date, good alteration
zonation patterns are displayed within the outcropping epithermal veins. This zonation is interpreted to
represent an increase in fluid temperature and proximity to fertile flow structures and to represent attractive
targets for higher grade mineralization. This zonation is better developed in Estancia South due to the
emplacement of hydrothermal fluids in the more brittle and competent Chon Aike Formation, that acted to
concentrate the epithermal fluids in well-developed structures as opposed to being more dispersed through the
flatter horizontal fluid outflow along the water table level a s typically seen at the La Matilde Formation
stratigraphic level.
• Pellegrini
The Pellegrini prospect is characterized by a large , high level “silica cap” comparable to Newmont Goldcorp ’s
Cerro Negro silica cap (Figure 4). This silica cap represents the highest level of epithermal paleo water table
alteration hosted within the La Matilde Formation. It is uncommon for these upper levels of the epithermal
column to be anomalous in precious metal concentrations, however, recent prospecting and sampling by Mirasol
at Pellegrini encountered attractive epithermal textures in outcropping veins in close association with extensive
NW oriented silicified breccia structures. These features are seen to cross-cut the high level silica cap alteration
and may be associated with deeper feeder structures. Assays from these structures have returned values up to
1.95 g/t Au and 26.90 g/t Ag together with elevated values of arsenic, antimony, sulphur, copper, lead, tellurium
and bismuth. These results are considered very encouraging, and further exploration will be designed to vector
toward potential targets below the silica cap.
The interpretation of the exploration data to date suggests that the mineralization may also be related to a
rhyolitic flow dome complex that has intruded into the upper levels of the La Matilde Formation in the central
part of the Pellegrini prospect. This is coincident with a central sodium rich alunite zone which may represent a
higher tempera ture/low pH response typical of advanced argillic alteration zones and may vector toward a
possible NW feeder and/or hydrothermal up flow vent in this central part of the prospect. These observations
are comparable to both the Cerro Saavedra zone at the M inera Santa Cruz’s San Jose mine and also Newmont
Goldcorp’s Cerro Negro silica cap, both of which are located in reasonable proximity to the Sascha Marcelina
project.
• Igloo
Recent rock chip sampling at the Igloo prospect have surpassed historical values previously reported, with peak
assays up to 1.63 g/t Au, and 49.5 g/t Ag accompanied by anomalous arsenic, antimony, mercury and zinc, within
hydrothermal breccia bodies developed in the La Matilde Formation. Mineralization also occurs as discontinuous
quartz stockworks/veinlets which outcrop along a NW trending structural corridor. Recent
geological/stratigraphic mapping suggests the more competent Chon Aike formation should shallowly underlie
the La Matilde Formation, as seen in the Estancia South zone with the associated higher gold and silver values.
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The recent prospecting/sampling, geological mapping and alteration vectoring studies ha ve defined possible
feeder structures that could potentially be the source of the hydrothermal fluids in each of these prospects and
with the addition of systematic electrical geophysical IP lines during the start of the next field season, Mirasol
will focus on generating targets for drill testing at the Sascha Marcelina project.
About Mirasol Resources Ltd
Mirasol is a premier project generation company that is focused on the discovery and development of profitable
precious metal and copper deposits, operating via a hybrid joint venture and self-funded drilling business model.
Strategic joint ventures with precious metal producers have enabled Mirasol to maintain a tight share structure
while advancing its priority projects that are focused in high -potential regions in Chile and Argentina. Mirasol
employs an integrated generativ e and on -ground exploration approach, combining leading- edge technologies
and experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial
position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of
Chile and the Jurassic age gold and silver district of Santa Cruz Province Argentina.
For further information, contact:
Norm Pitcher, President and CEO
or
Jonathan Rosset, VP Corporate Development
Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com
Qualified Person Statement : Mirasol’s disclosure of technical or scientific information in this press release has been
reviewed and approved by Norm Pitcher , P.Geo. President and CEO for the Company. Mr. Pitcher 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 an ticipated 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 regulatio ns 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 th e 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: Sascha Marcelina Gold-Silver District – Prospects Overview. July 2019
Santa
Cruz
Province
Argentina
Chile
50km
Sascha
-
Marcelina
Cerro Negro
Cerro
M
orro
Mina Martha
Manantial
Espejo
Jurassic
volcanics
Cerro
Vanguardia
Sascha Marcelina Claims
30,681 ha
Sascha Marcelina Claims Boundary
Additional Prospects
Pellegrini Silica Cap
Estancia Trend
Igloo Trend
Sascha Vein Zone
Figure 2 window
Rock Chip Assays Au
(g/t)
1.00 to 160.00
0.25 to 1.00
0.10 to 0.25
0.01 to 0.05
0.00 to 0.01
Below Detection
0.05 to 0.10
Figure 2: Sascha Marcelina Gold-Silver District – Rock Chip Geochemistry – Estancia, Pellegrini and Igloo prospects. July 2019
Gold
Silver
Arsenic
Antimony
Base: ESRI World Imagery Base: ESRI World Imagery
Base: ESRI World Imagery Base: ESRI World Imagery
Estancia Trend
Pellegrini Silica Cap
Igloo Trend
Estancia Trend
Pellegrini Silica Cap
Igloo Trend
Estancia Trend
Pellegrini Silica Cap
Igloo Trend
Estancia Trend
Pellegrini Silica Cap
Igloo Trend
Figure 3: Sascha Marcelina Gold-Silver District – Estancia Trend and Rock Chip Assays. July 2019
Estancia
Norte Zone
Estancia
Central Zone
Estancia
Sur Zone
1.86 / 15.7
5.24 / 1.85
1.74 / 7.16
1.02 / 7.65
7.21 / 9.81
8.45 / 6.30
27.7 / 121
Clay pan
Silica Cap
Clay pan
Post-mineral basalt
flows
Post-mineral gravel
cover
Post-mineral gravel
cover
Vein trend may
continue under
claypan to south and
gravel plateau to
north
Vein trend may
continue under
basalt to the NW
Post-mineral basalt
flows
Preliminary Lithology
Chon
Aike
La Matilde
Total samples from outcrop / subcrop / float = 168
All Samples Au Ag AuEq60
Max Value 27.7 g/t 121 g/t 29.72 g/t
Average value 0.56 g/t 3.9 g/t 0.62 g/t
Estancia and Igloo Trend New Rock Chip Assays
Top Au Assays % of samples Au g/t
71 Samples 42.3 % > 0.1 g/t
32 Samples 19.1 % > 0.5 g/t
14 Samples 8.3 % > 1.0 g/t
Total samples from outcrop / subcrop / float = 422
All Samples Au Ag AuEq60
Max Value 27.7 g/t 121 g/t 29.72 g/t
Average value 0.25 g/t 2.46 g/t 0.29 g/t
Sascha Marcelina New Rock Chip Assays (including Pellegrini)
Gold Assays Distribution
Top Au Assays % of samples Au g/t
89 Samples 21.2 % > 0.1 g/t
36 Samples 8.5 % > 0.5 g/t
16 Samples 3.8 % > 1.0 g/t
Gold Equivalent = Gold + (Silver / 60)
Rock Chip Labels:
Au (g/t) / Ag (g/t)
Gold Assays Distribution
?
?
?
?
?
Jurassic
Volcanics
Rock Chip Assays Au
(g/t)
1.00 to 27.70
0.25 to 1.00
0.10 to 0.25
0.01 to 0.05
0.00 to 0.01
Below Detection
0.05 to 0.10
Figure 4: Sascha Marcelina Gold-Silver District – Pellegrini Silica Cap and Igloo Trend. July 2019
Post-mineral
Basalt Cover
1.95 / 12.9
0.65 / 7.2
Rock Chip Labels:
Au (g/t) / Ag (g/t)
1.47 / 0.8
1.31 / 1.0
0.93 / 18.5
0.27 / 1.1
Base: ESRI World Imagery
Gravel
Apron
Jurassic
Volcanics
Gravel
Apron
Gravel
Apron
Gravel
Apron
Gravel
Apron
Estancia
Central
Extensive area of
water table silica
Strongly anomalous
As-Sb structure
0.59 / 30.4
0.71 / 11.7
1.16 / 2.3
1.63 / 49.5
1.16 / 41.0
1.09 / 9.2
Vein breccia outcrops
developed over 400m
Post Mineral
Basalt Cover
Jurassic
Volcanics
Jurassic
Volcanics
Zones of pervasive
silicification
Hydrothermal
breccia pipe
La Matilde
Preliminary Stratigraphy
Igloo Trend
Pellegrini
Silica Cap
Qtz-Chalcedony
veinlets / stockwork
observed in outcrop
and rock chip sampling
Interpreted
dome outlines
Rock Chip Assays
Au (g/t)
1.00 to 1.95
0.25 to 1.00
0.10 to 0.25
0.01 to 0.05
0.00 to 0.01
Below Detection
0.05 to 0.10