Mirasol Upgrades and Expands Aurora Prospect with High-grade Gold and Silver Assays from Rock Chip Sampling and Mapping Program
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 Upgrades and Expands Aurora Prospect with High-grade Gold and
Silver Assays from Rock Chip Sampling and Mapping Program
Vancouver, BC, July 5th, 2017 – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF “Mirasol”) is pleased to
announce high-grade gold and silver rock chip assays, that extend and infill vein-breccia trends at the new Aurora
prospect, part of Mirasol’s 100% owned Nico project Santa Cruz, province Argentina (Fig. 1).
This phase of mapping and sampling has increased the strike extent of the principal north-south oriented mineralized
trend to by 30% to approximately 4 km. A total of 1,113 rock-chip samples have been collected to-date and with
assays ranging up to 35.09 g/t Au (1.128 oz/t) and up to 2095 g/t Ag (67.4 oz/t). This phase has upgraded the results
for the prospect (table 1) with the sample database now including:
Gold
o 178 samples greater than 1 g/t Au (0.032 oz/t)
o 34 samples greater than 5 g/t Au (0.161 oz/t)
o 6 samples greater than 15 g/t Au (0.482 oz/t)
Silver
o 155 sample greater than 60 g/t Ag (1.9 oz/t)
o 41 samples greater than 300 g/t Ag (9.6 oz/t)
o 5 samples greater than 900 g/t Ag (28.9 oz/t)
Field observations and assays distribution suggest the presence of multiple mineralised vein-breccia zones (potential
shoots) that are expressed as a linear alignment of intermittently outcrop, subcrop and float of blocks, defining vein-
breccia trends over a 4 x 2.1 km area at the prospect (Fig.2). This trend extends to the edge of post-mineral basalt
cover to the north and south, suggesting the system may continue under cover and have a longer strike length than
currently defined. As well, outcrop and sub-crop distribution of samples suggests the potential for adjacent parallel
vein breccia trends in some areas of the prospect. Sample widths at surface show individual vein – breccias typically
range between 0.2 to 3.0 m in width with an average of 0.31 m (see news release June 12, 2017).
Preliminary interpretation of the structural setting at Aurora suggests that the better grades seem preferentially
located in north-west oriented flexures developed within the north-south mineralized trend(s). These flexures are
interpreted to occur at where regional-scale structures intersection with the north-south trend(s), and where the
north-south trend intersects an arcuate shaped feature speculated to mark part of a “ring fault”, potentially
developed above the edge of a buried intrusive. The flexures are thought to represent sites of potential dilation and
structural preparation of the host rock(s) in the mineralized trend(s). Similar structural settings at gold - silver deposit
elsewhere in Santa Cruz province often mark the sites for development of accumulations of mineralisation. At
Aurora, these flexure zones will be the focus for follow-up detailed mapping and sampling to define drill targets.
Rock chip samples assayed to date from the prospect are of oxidise material. In some cases oxidation may result in
near surface upgrading of gold and silver content of the samples, in comparison to the grades in the underlying
unoxidized mineralization. While Mirasol has not seen any evidence to date that this is the case at Aurora, it is
prudent to acknowledge the possibility of this effect at this early stage of exploration at the prospect. Not
withstanding this, the strongly anomalous gold and silver assays returned from significant strike extents of the vein-
breccia structures, highlight Aurora as a significant new discovery of a highly prospective, undrilled gold-silver system,
in the prolifically mineralised Santa Cruz epithermal province.
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 has continued to prospect in the Nico claims block beyond the Aurora prospect. Results of this exploration
will be reported in the coming weeks, as well as results of a re-evaluation of the exploration undertaken by a previous
joint venture partner at the Nico main prospect.
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
John Toporowski
Manager of Investor Relations
Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com
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 rock and drill samples a re
collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obta ined 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. Samples are analysed by 30g fire assay for Au and for Ag via a multi element ICP suite. If the silver
assay exceeds 100 g/t, the sample is reanalysed using a gravimetric assaying method. 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 surficial 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 nu mber 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 plans,
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 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.