Mirasol Receives High Grade Silver – Gold Assays from New Resolution Prospect at the Nico Project Santa Cruz, Argentina
NEWS RELEASE
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
Mirasol Receives High Grade Silver – Gold Assays from New Resolution
Prospect at the Nico Project Santa Cruz, Argentina
Vancouver, BC, August 08, 2017 – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF, “Mirasol”) is pleased to
announce discovery of the new high grade Ag-Au vein, the Resolution Prospect (Figure 1 ) where reconnaissance rock
chip sampling has returned assays of up to 6,181.4 g/t Ag (198.7 oz/t) and up to 4.79 g/t Au (0.15 oz/t) at the
Company’s 100% owned Nico project, Santa Cruz Province Argentina. Additionally, Mirasol has more than doubled
the area of the Nico Project by staking of new claims to secure extensions of the volcanic complex related to the
mineralization, bringing the total project area to over 53,000 ha.
Mirasol CEO Stephen Nano stated: “We are very encouraged by this season’s exploration results at our Nico Project
where the Company is outlining a multi-target high grade Ag – Au district with favourable logistics in proximity to two
operating mines ”.
Reconnaissance mapping and sampling at the Nico claims, approximately 12 km to the east of Mirasol’s recently
announced Aurora silver - gold prospect (see news release July 5, 2017) has led to the discovery of a new high-grade
epithermal vein at Resolution. The mineralization reports to oxidized veins and veinlets of grey chalcedonic silica
with localized zones of banded saccharoidal silica and breccia textures hosted in dacitic subvolcanic. The structure
has been traced in outcrop and float for 1,400 m varying in width from a few centimetres up to 0.5 m wide at surface
(Figure 2 ).
Mirasol has collected 34 reconnaissance rock chip samples along the Resolution vein structure (Table 1). Assays
returned high grade Ag+Au with strongly anomalous As+Sb+Hg+Pb+Zn. The database of sample assays for Resolution
contains:
Silver
o 23 samples greater than 30 g/t Ag (0.96 oz/t)
o 7 samples greater than 300 g/t Ag (9.6 oz/t)
o Highest sample of 6,181.4 g/t Ag (198.7 oz/t)
Gold
o 11 samples greater than 0.25 g/t Au (0.008 oz/t)
o 7 samples greater than 1.0 g/t Au (0.032 oz/t)
o Highest sample of 4.79 g/t Au (0.15 oz/t)
Mirasol has also reported high-grade Ag+Au assays of up to 2,095.0 g/t Ag (67.4 oz/t) and 35.09 g/t Au (1.128 oz/t)
from the strongly mineralized, multi-kilometre long, Aurora vein-breccia prospect. In addition, the Company has
undertaken a preliminary desk top re-evaluation of previous Joint Venture partner drilling from 2009 at the Nico
Main prospect. This has highlighted shallow drill intersections of up to 8.25 m @ 0.43 g/t Au and 37 g /t Ag,
including 1.25 m at 2.17 g/t Au and 197 g/t Ag (5.4 5 g/t AuEq60 *) which remain open to depth and warrant
further drill testing.
The geological understanding emerging from this season’s exploration at the Nico Project suggests that
mineralization is associated with a large rhyolitic flow dome and pyroclastic complex that overlies the regional
rhyolite ignimbrites volcanics of the Chon Aike formation. At Nico, epithermal intermediate sulphidation vein -
910 - 850 West Hastings Street, Vancouver, B.C. V6C 1E1 Canada
Tel: 604.602.9989 Fax: 604.609.9946 E-mail: [email protected]
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breccia mineralization is developed at several prospects both within the dome and pyroclastic complex and the
underlying Chon Aike volcanics. To date, Mirasol has identified three prospects Aurora, Resolution and Nico Main
where strongly anomalous to bonanza grade silver – gold assays have been returned from surface rock chip sampling
and historic drill intersections at the Nico Project.
Mirasol has ceased its reconnaissance at Nico due to the onset of the southern hemisphere winter and eagerly
anticipates the re-initiation of the spring work season in mid-September 2017 to continue exploration of this exciting
precious metal project.
Corporate Rebranding
Mirasol is pleased to announce the launch of its new website and corporate branding. To follow the Nico Project
story, please visit www.mirasolresources.com
Stephen Nano, President and CEO of Mirasol, has app roved the technical content of this news release an d 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
Additional Explanatory Notes:
* AuEq60 is the sum of the value of gold and silver 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 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 sampl ing methodologies and techniques. All geochemical r ock 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 Argent ina 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 sur ficial 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 anticipated in our forward-looking state ments. Factors that could cause such differences in clude: 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 thi s release include
statements regarding future exploration programs, o peration plans, geological interpretations, mineral tenure issues and
mineral recovery processes. Although we believe the expectations reflected in our forward-looking stat ements are
reasonable, results may vary, and we cannot guarant ee future results, levels of activity, performance or achievements.
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
Mirasol disclaims any obligations to update or revi se any forward-looking statements whether as a resu lt of new
information, future events or otherwise, except as may be required by applicable law.
Neither the TSX Venture Exchange nor its Regulation S ervices Provider (as that term is defined in the po licies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.