Mirasol Reports Results from Trenching Program at Los Amarillos Project in Chile
NEWS RELEASE
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Mirasol Reports Results from Trenching Program at Los Amarillos Project
in Chile
VANCOUVER, BC, May 07, 2020 — Mirasol Resources Ltd. (TSX -V: MRZ) (OTCPK: MRZLF ) (the “ Company” or
“Mirasol”) reports on its trenching program at the Los Amarillos project in Chile. Assay results for the channel
samples taken along the trenches indicate that the mineralization is both sporadic and wide ly spaced, and as
such did not define viable targets for drill testing at this time.
Norm Pitcher, Mirasol’s President and CEO noted: “The trenching program at Los Amarillos was designed to give
us information about vein width and the potential for mineralization between the vein structures. Unfortunately,
we have en countered only narrow veins without significant mineralization between them. We were able to
execute this program in a quick, cost effective manner using a local contractor for the trenching and utilizing our
own IP equipment and crew , which we felt was justified on a property with year- round access and excellent
infrastructure. There are still some untested areas of the property which may warrant further work.”
o Trenching Program:
During this program , 21 trenches were completed for a total of 1,128m. The trenches were targeting sub-
cropping quartz veins and rock chip and float samples with anomalous Au and Ag assays. Due to the limited
surface exposure the trenches were excavated to determine the widths of the sub -cropping veins and the
potential for mineralization between vein structures. The trenches ranged from 1 to 3m deep and were all
successful in exposing bedrock. Channel samples were taken along the length of the trench wall and sample
widths ranged from 0.2m to 2.0m horizontally.
Figure 1: Los Amarillos Project – Plan Map
Assay results from the trench sampling indicate that the Au and Ag mineralization in the vein structures does not
extend far into the wall rock between the veins. Geologic mapping of the walls of the trench show very narrow,
mostly under 10cm wide quartz veins carrying sporadic grades. The veins are boudinaged and brecciated in shear
zones, making them pinch and swell from 1cm to 50cm in width, and their wide spacing (1 to 20m) is such that a
bulk mineable target has not been identified.
Mineralisation, both on the surface and in the trenches , is accompanied by boxworks of jarosite, hematite and
goethite with druzy cavities infilled by siderite, features that provided encouragement during surface field work.
In the NW sector of the project, the banded quartz veins may contain galena, sphalerite and copper oxides
including chrysocolla. One such vein in Trench BR-004 returned the highest grade from the trench sampling; 8.75
g/t Au over 0.5m, within 3m at 1.68 g/t Au and 6.60 g/t Ag.
During an earlier sampling campaign, small flecks of visible Au were observed in a surface float sample of selected
quartz vein fragments which assayed 300 g/t Au. Results from follow-up trenching in the area returned assays of
1.89 g/t Au and 0.82 g/t Au over 0.8m and 0.6m respectively with flanking zones of 2m assaying to 0.27 g/t Au
for an average of 4.9m at 0.6 g/t Au (Trench BR-014), demonstrating the high nugget effect in th is area of the
prospect.
o Geophysical Program:
In addition, a total of 20 line km of Pole Dipole I nduced Polarization in 13 lines with 50m station spacing (with
test lines of 25m spacing) was completed on the project. The results showed that in some cases the vein swarms
produced a higher resistivity response where surface samples gave low grades, however most of the veined areas
did not produce a discrete resistivity anomaly which could be used to target continuation of the veins under
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cover and at depth.
IP chargeability is generally low, with only some higher responses over andesites with a high magnetic response
and one stronger anomaly to the north of trench BR -014 from 125 -200m deep and 250m wide. The latter
response appears to be associated with a NS trending felsic dyke and could represent a target for disseminated
sulfide mineralization, possibly associated with a dacite dome some 200m north. As the nearest trench (BR-014)
cut a quartz vein with lower grade mineralization in the silicified andesite wall rock, this IP chargeability anomaly
may warrant follow up work. Additional field review of selected chargeability anomalies will assess the potential
for larger, disseminated sulfide targets associated with rhyo-dacitic domes.
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 generative and on -ground exploration app roach, 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.