Mirasol Resources Introduces Nandi Copper Project in Chile
NEWS RELEASE
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
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November 5, 2020
Shares Issued and Outstanding: 54,175,543
TSX-V: MRZ
OTCPK: MRZLF
Mirasol Resources Introduces Nandi Copper Project in Chile
• Prospective Cu/Mo/Au generative project
• Proximal to world-class Escondida and Lomas Bayas Cu Mines
• Encouraging early exploration results
• Low altitude and excellent access
VANCOUVER, BC, November 5, 2020 — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company”
or “Mirasol”) is pleased to report initial exploration results from its 100% owned Nandi Cu project, located in the
Paleocene porphyry Cu belt in northern Chile. Nandi was staked by Mirasol through it s project generation
program and comprises approximately 5,000 ha of exploration claims , located 30 km northwest of BHP’s
Escondida Cu mine and 63 km southeast of Glencore’s Lomas Bayas Cu mine.
Mirasol’s Chair and Interim CEO, Patrick Evans commented: “Nandi represents an attractive project with multiple
targets to be drill tested. It is hosted in a productive p orphyry belt in proximity to two world-class Cu mines.
Results f rom Mirasol’s initial exploration work indicates that Nandi has the potential to host a concealed
Cu/Mo/Au porphyry deposit, and skarn type mineralization. The team is currently assessing options to further
advance exploration at Nandi.”
Geologically, Nandi is favorably situated in the area of intersection between the continental-scale north-south
trending Domeyko Fault System and the northwest trending Archibarca Lineament , a regional structural
framework that, for example, controlled the emplacement of the giant Escondida porphyry Cu deposit cluster.
The project also benefits from easy access along the asphalt highway from the port city of Antofagasta to the
Escondida mine, lying at a relatively low altitude of 1,800m above sea level.
Figure 1: Project Location
To date, Mirasol has completed first-pass reconnaissance and exploration programs, including:
• Reconnaissance scale lithological and alteration mapping supported by spectral mineralogy analyses of
rock samples;
• Geochemical stream sediment and rock chip sampling;
• Focused geochemical channel sampling from nine historical trenches; and
• Soil geochemical sampling on a 100 x 200m grid at the Border Zone target.
The results of these initial surveys have delineated multiple exploration targets for detailed follow up.
The Border Zone target, located in the northeast area of the Nandi project, has the potential to host porphyry
Au/Cu style mineralization. Cretaceous andesites and volcanic breccias host a series of multiple phases of
intrusive and hydrothermal events, which notably include a quartz porphyritic rhyodacite intrusive body that is
cut by black banded quartz veins (BBV) and a phreatic breccia with banded quartz veined clasts. BBV veining is
typically found in porphyry Au deposits of the Maricunga Belt such as the Marte deposit (Indicated Resources:
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
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33.47 Mt at 1.58 g/t Au1). Anomalous Au includes assay values ranging from 0.1 to 2.6 g/t Au in rock chip samples
(out of 65 samples, 8 samples returned over 0.1 g/t Au and 2 samples over 1 g/t Au), as well as 7 samples with
values of 15 to 40 ppb Au from a soil grid completed over the Border Zone target. In addition, anomalous Cu
values ranging from 100 to 4,850 ppm in rock chip samples were recovered in this zone (out of 65 samples, 7
samples returned above 200 ppm Cu).
Figure 2: Nandi - Target Areas and Au-Cu in Rock Chip Samples
The Central Zone target is located some 4 km west-southwest from the Border Zone target in the center of the
tenure. It is characterized at surface by thin horizons of Pb-Zn stratiform mineralization with traces of secondary
Cu oxides hosted by Jurassic silty dolomites. This mineralization may possibly be related to the intrusion of dykes
of Paleocene quartz diorite and rhyolite quartz porphyry exposed in the historical trenching. Disseminated and
also northwest fracture-controlled goethite and jarosite (1-3% by volume ) could have formed from pyritic
mineralization peripheral to a larger intrusive either at depth directly below the Central Zone, or under the gravel
cover of the Pampa Zone directly to the north. In regard to the latter, there is a discrete, sizable magnetic low
some 2 km in diameter, which could present a porphyry Cu target.
Figure 3: Nandi – Airborne Magnetics 1vd Showing Magnetic Low Under the Pampa Zone
Initial exploration results have been encouraging and highlight the potential for porphyry Cu mineralization
which merits follow up field work including geophysical surveys, to define targets for drill testing.
About Mirasol Resources Ltd
Mirasol is a well- funded exploration company focused in Chile and Argentina. Mirasol has six partner- funded
projects, two with Newcrest Mining Ltd (Chile), and one each with First Quantum Minerals (Chile), Mine
Discovery Fund (Chile), Mineria Activa (Chile ) and Silver Sands Resources (Argentina). Mirasol is currently self-
funding exploration at two projects, Inca Gold (Chile) and Sacha Marcelina (Argentina).
For further information, contact:
Patrick Evans, Interim CEO and Chairman
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 Chris Ford, CEng FIMMM, a senior consultant for the Company, who 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, changes to regulations 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. A lthough we believe the expectations reflected in our forward -looking statements are
1 Teck Cominco Limited – 2006 Annual Information Form
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
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.