Mirasol Consolidates Additional Claims with its Los Amarillos Gold – Silver Project in Chile and Announces Initial Exploration Results
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
Mirasol Consolidates Additional Claims with its Los Amarillos Gold – Silver
Project in Chile and Announces Initial Exploration Results
VANCOUVER, BC, June 26 , 2019 — Mirasol Resources Ltd. (TSX -V: MRZ) (OTCPK: MRZLF) (the “ Company” or
“Mirasol”) is pleased to announce that it has executed an Option to Purchase agreement (the “Agreement”) with
Empresa Nacional de Minería ( “ENAMI”) of Chile to consolidate and gain control of claims hosting potential
extensions to the mapped mineralization on the surface of its Los Amarillos project. The project is located to the
northwest of the El Salvador mine and of the Potrerillos smelter on the prospective Paleocene age mineral belt
of northern Chile (figure 1).
Mirasol’s President and CEO, Norm Pitcher, stated: “We are pleased to announce this Agreement and introduce
a new project in our portfolio. This Agreement is in line with our strategy of consolidat ion around our property
packages to develop large scale targets. The Los Amarillos project to date has returned high grade gold and silver
assays in rock chip samples and it warrants a detailed surface exploration program to define drill targets. Given
the project location near existing infrastructure, its year-round access and initial results, it represents a
compelling project for Mirasol to initially move forward on a self-funded basis.”
Terms of the Agreement:
Mirasol holds the right to acquire 100% of 288 ha of claims (the “ENAMI Claims”) by completing US$300,000 in
exploration expenditures over 3 years (including a committed US$50,000 for the first 12 months) and by making
total cash payments of US$100,000 over the same period. The first US$10,000 payment has been made on
signing. Once the option period is completed, ENAMI will hold a 1.5% NSR royalty on the ENAMI C laims, which
will be subject to a right of first refusal held by Mirasol.
Los Amarillos project Overview:
The consolidated Los Amarillos Project occupies 1,660 ha and is 15 km north of Mirasol’s Rubi project and 10 km
northwest of Coldelco’s El Salvador mine. The property sits at elevations ranging from 1700m to 2100m ASL.
Year-round road access is excellent , and both power and water lines traverse the northern edg e of the claim
block.
The project is part of the Paleocene-Lower Eocene Caldera and is located within the Ojos Del Salado trans-orogen
structure that also hosts the El Salvador (Cu -Mo-Au), Potrerillos (Cu -Au), and La Coipa (Ag -Au) deposits.
Mineralization at Los Amarillos is hosted within a thick sequence of rhyodacitic to trachytic pyroclastics and flows
within the caldera, with quartz -adularia-carbonate Intermediate Sul fidation veins hosted along north -south
structures, coincident with rhyolitic to dacitic dyke swarms.
Numerous vein structures up to 3 m wide have been mapped over a 7 km strike length throughout the project
(figure 2). Vein filling is massive to banded quartz with polymetallic (Au-Ag-Cu-Pb-Zn) mineralization and barren
later stage carbonates. Reconnaissance rock chip sampling of quartz veins has returned assays up to 40.5 g/t Au
with anomalous antimony, arsenic, and barium. Zones of narrow veinlets and stockwork within the wall rock
carry up to 2.7 g/t Au. In addition, there is evidence of wider zones of sheeted veins and breccias zones that may
be a target for bulk mining. Numerous old and small-scale artisanal pits exist within the claim block but there has
been no modern exploration or drilling beyond the initial reconnaissance work completed by Mirasol (figure 3).
Mirasol is currently defining a follow up exploration program and budget that will be part of the overall 2020
financial year exploration plan for the Company. Additional surface exploration work is expected to start shortly.
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
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 fo cused in high -potential regions in Chile and Argentina. Mirasol
employs an integrated generative 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 Au and Ag 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 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. Forward- looking statements in this release include
statements regarding future exploration programs, operation pl ans, 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 acti vity, 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.