Mirasol Outlines 1.4 km long Geophysical Anomaly at the Resolution Trend of the Nico Ag-Au Project, Santa Cruz, Argentina
910 - 850 West Hastings Street, Vancouver, B.C. V6C 1E1 Canada
Tel: 604.602.9989 Fax: 604.609.9946 E-mail: [email protected]
www.mirasolresources.com
NEWS RELEASE
Mirasol Outlines 1.4 km long Geophysical Anomaly at the Resolution Trend of
the Nico Ag-Au Project, Santa Cruz, Argentina
VANCOUVER, BC – July 5, 2018 – Mirasol Resources Ltd. (TSXV: MRZ), (OTCPK: MRZLF), (the “Company”
or “Mirasol”) announces the Company has completed this season’s exploration at the Resolution Trend,
one of four high grade Ag- Au prospects at the 100% Mirasol owned Nico project, Santa Cruz Province
Argentina.
Highlights from the recent Resolution Trend exploration:
• A 1.7 sq-km, 100 m line-spacing geophysical survey was completed, which outlined a 1.4 km long
chargeability anomaly coincident with the down -dip projection of the previously reported high -
grade Ag-Au bearing vein breccias (see news releases, March 2, 2018 and August 8, 2017)
• Geological mapping has outlined a prospective setting of outcropping mineralized structures with
a defined cumulative strike length in excess of 1.5 km, hosted within a porphyritic sub -volcanic
dacite dome unit
• Systematic detailed rock chip and saw -cut channel sampling ha s also been completed with all
samples dispatched to the laboratory for anal ysis. Results will be reported on receipt of final
assays in the coming weeks.
Stephen Nano, the Company’s President and CEO stated: “Our exploration efforts continue to upgrade our
understanding and advance the Resolution prospect toward drill testing, consistent with the objectives of
our recently announced Expanded Exploration Strategy and the Company’s over -subscribed CAD$8.6
million raising, completed June 8, 2018 (see news release for details). Resolution is one of several
compelling, logistically advantaged, high grade, drill targets taking shape in our Santa Cruz project
portfolio at this time”.
Geological mapping at Resolution has outlined a 1.8 km long, up to 120 m wide trend of intermittently
outcropping, NE striking, SE dipping (58° to 61°) oxidized vein -breccias (Figure 1). Previously reported
reconnaissance rock chip sampling here returned peak high-grade assays up to 6,181 g/t Ag and 5.73 g/t
Au from select rock-chip sampling of oxidized vein -breccias. Systematic sampling on nominal 1 to 10 m
sample centres along the ve in-breccia trends of rock chip and saw -cut channel sampling has now been
completed with samples delivered to the laboratory for analysis.
In outcrop, several subparallel vein -breccia structures are developed within the Resolution Trend.
Individual vein -breccias are between typically 15 to 50 cm wide and show classic crustiform banded
epithermal vein textures with voids in the banding, interpreted to be due to the near-surface oxidation of
sulfide layers. This style of banded quartz-sulfide texture is also seen at the nearby bonanza grade Ag-Au
Martha mine.
The mineralized vein -breccia structures at Resolution are hosted within a porphyritic dacite unit
delineated by geological mapping and by a + 600 m diameter resistivity anomaly in the Pole Dipole (PDP)
electrical geophysical ground survey. The dacite dome may represent part of a larger area Jurassic -aged
subvolcanic dome complex at the prospect. The prospect -scale structural setting, combined with brittle
host rocks like the dacite dome, are conducive to development of down -dip and along strike “pinch and
910 - 850 West Hastings Street, Vancouver, B.C. V6C 1E1 Canada
Tel: 604.602.9989 Fax: 604.609.9946 E-mail: [email protected]
www.mirasolresources.com
NEWS RELEASE
swell” veins typical of epithermal deposits. Potential sites of vein “blowouts” would be the target of any
future drill testing at the project.
The PDP electrical geophysical survey has also define d a 1.4 km long, 8 to 25 millisecond chargeability
anomaly, that in plan and section lies along the down -dip projection of the outcropping vein -breccias
(Figures 2 and 3). Chargeability anomalies of this magnitude often indicate the presence of sulfide
mineralization and in this case, are interprete d by Mirasol to suggest that below the depth of surface
oxidation the vein breccia zone may be sulfide bearing and potentially have a disseminated sulfide halo in
the surrounding wall rock. These chargeability anomalies represent high priority targets for drill testing
at the Resolution Trend.
Mirasol interprets the Nico mineralization to potentially be an example of a Ag -Au rich epithermal
intermediate sulfidation precious metal system. This class of mineralization has produced multi- million-
ounce high-grade Au-Ag vein style ore bodies in Santa Cruz Province, including Cerro Moro (Yamana Gold)
and San Jose (Hochschild Mining/McEwen Mining) mines, as well as smaller, bonanza -grade mines such
as Martha (Hunt Mining).
The Nico project is located in an area of active mining and precious metal ore processing, approximately
85 km from the Manantial Espejo Mine (Pan American Silver), and 45 km from Martha (Hunt Mining). Pan
American Silver also recently purchased the Cap -Oeste Sur Este (COSE) project and is working toward
developing this and the Joaquin Au-Ag satellite deposit which are located 160 km and 130 km respectively
from Manantial Espejo. Pan American plans to truck ores mined at COSE and Joaquin through Mirasol’s
Nico Project properties to the Manantial Espejo mine facilities for processing. Nico is well positioned to
benefit from Pan American’s announced development and processing plans.
Mirasol invites investors to follow the Nico epithermal precious metal exploration story by visiting our
website www.mirasolresources.com and signing up to receive our news releases.
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
910 - 850 West Hastings Street, Vancouver, B.C. V6C 1E1 Canada
Tel: 604.602.9989 Fax: 604.609.9946 E-mail: [email protected]
www.mirasolresources.com
NEWS RELEASE
Quality Assurance/Quality Control of the Nico 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 Argentina for analysis. Assay results from surface rock, chan nel, 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 S tatements: 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 fo rward-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 mi ning 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 refl ected 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 – Resolution Prospect Summary Geology. July 2018
4.79 g/t Au and 833.2 g/t Ag
10 to 50 cm wide oxidized banded vein breccia
Geology
Au/Ag Vein Trend
Interpreted Structure
Salt Pan/Alluvial Sediments
Soil Cover
Porphyritic Sub-volcanic Dacite
Basalt Capping Flows
Hydrothermal Alteration Strike and Dip
Measurement
Salt Pan
Salt Pan
Salt Pan
Basalt
Capping Flows
Soil Cover
58
o
56
o
58
o
60
o
78
o
61
o
Sub-Volcanic
Dacite
Soil Cover
Nico Project
73,200 ha Resolution
Prospect
Property Boundary
500 m
N
Sub-Volcanic
Dacite
Sub-Volcanic
Dacite
↑ Post Mineral
Outcrop of high grade
Ag + Au vein breccia
PDP-IP Geophysics Survey
100m Spaced Lines
50m Spaced Dipoles
Aurora and
Vittoria
Prospects
Endeavour
Prospect
Figure 2 – Resolution Prospect PDP-IP Geophysics – 3D Inverted 50m Depth Slices and 2D Inverted Sections for Line 49000 E. July 2018
Resistivity
Depth Slice
50m
Chargeability
Depth Slice
50m
1 to 18.6
0.5 to 1
0.25 to 0.5
0.1 to 0.25
0 to 0.1
Rock chip assays
Gold Equivalent (Au+Ag/60)
(Previously reported)
Vein Trend
Interpreted
Structure
500 m 500 m
Resistivity
2D Inverted
Section L49,000E
Chargeability
2D Inverted
Section L49,000E
NW SE NW SE
? ?
Surface Samples
0.04g/t Au, 69.7g/t Ag &
0.01g/t Au, 129g/t Ag
Surface Samples
0.04g/t Au, 69.7g/t Ag &
0.01g/t Au, 129g/t Ag
Resistivity
2D Inverted
Section L48,400E
Chargeability
2D Inverted
Section L48,400E
Resistivity
Depth Slice
150m
Chargeability
Depth Slice
150m
500 m 500 m
1 to 18.6
0.5 to 1
0.25 to 0.5
0.1 to 0.25
0 to 0.1
Rock chip assays
Gold Equivalent (Au+Ag/60)
(Previously reported)
Vein Trend
Interpreted
Structure
NW
SE NW
SE
Figure 3 – Resolution Prospect PDP-IP Geophysics – 3D Inverted 150m Depth Slices and 2D Inverted Sections for Line 48,400 E. July 2018
Surface Sample
4.79g/t Au, 833g/t Ag
Surface Sample
4.0g/t Au, 800g/t Ag
Surface Sample
4.79g/t Au, 833g/t Ag
Surface Sample
4.0g/t Au, 800g/t Ag