Mirasol Upgrades Resolution Trend and Identifies New Vittoria Vein Trend at the Nico Silver Gold Project, Santa Cruz, Argentina
NEWS RELEASE
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Mirasol Upgrades Resolution Trend and Identifies New Vittoria Vein Trend
at the Nico Silver Gold Project, Santa Cruz, Argentina
VANCOUVER, BC – March 2 , 201 8 -- Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF , “Mirasol”, the
“Company”) is pleased to announce significant developments at the Company’s 100% owned Nico project, Santa
Cruz Province Argentina (Figure 1), including:
1. The receipt of additional Au-Ag rock chip assay results which upgrade the Resolution Trend prospect.
2. The delineation of a new Au+Ag vein corridor at the Vittoria Vein Trend.
Resolution Trend developments
• Further prospecting at the Resolution Trend (see news release August 8, 2017) has returned rock chip
assays of up to 5.73 g/t Au and 528 g/t Ag , identifying new parallel en echelon mineralized structures
with intervening zones of sheeted and stockwork veinlets (figure 2).
• As currently defined by anomalous Au+Ag rock chip assays, the Resolution Trend is a 1.25 Km long zone,
defined by parallel 0.1 to 1.0 m wide veins and intervening stockwork veinlets, that combine to from up
to 80 m wide zones of veining and stockwork. The Resolution Trend represents an attractive drill target
for bulk mineable Au+Ag mineralization.
Vittoria Vein Trend delineations
• Recent reconnaissance exploration at Nico has also identified an additional new Au+Ag prospect, the
Vittoria Vein Trend, that to date has been traced over a 1.6 km strike length.
• The Vittoria V ein Trend as known to date , ranges from sub -meter to locally up to 10 m wide trend,
characterized by multiple parallel 0.3-0.5m wide chalcedonic quartz vein outcrops and sub -cropping
blocks, that have returned rock chip assays of up to 1.44 g/t Au and 174 g/t Ag (figure 3).
Stephen Nano, the Company’s CEO stated: “Our exploration efforts continue to expand the Nico district and are
identifying new high-grade Au+Ag vein structures that are developing into drill targets. Nico’s Resolution, Vittoria
and Aurora prospects remain untested by drilling, but have a logistical advantage to other, more remote
prospects due to their proximity to a provincial road and two operating mines needing mill feed”.
The Nico project is now known to contain , three strike extensive Au+Ag vein prospects at Resolution, Vittoria
and Aurora (see news release July 5, 2017 ), and mineralization known from a previous round of drilling at the
Endeavor prospect (see Nico Project history below). Resolution, Vittoria and Aurora are new prospects with no
previous drilling that contain mineralized vein trends ranging from 1.2 to 4.0 km in length with wide-spread
anomalous to bonanza-grade Au+Ag rock chip assays of up to 35 g/t Au and 6181 g/t Ag from surface sampling.
Mirasol interprets the Nico mineralization to be an example of Ag -rich epithermal intermediate sulfidation
system. This class of mineralization has produ ced a number of high-grade Au+Ag vein and bulk -mineable ore
bodies in Santa Cruz Province, including the Yamana’s Cerro Morro and the Hochschilds / McEwen mining’s San
Jose mines.
The company anticipates the next stage of exploration at the Nico project will include geological mapping,
systematic rock chip sampling, and electrical geophysical surveys. Results from this exploration program will be
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
used to drive integrated analysis for drill target selection an d potential drill testing during the Southern
Hemisphere summer 2018 season.
Mirasol continues to consolidate its claims holdings at the Nico project where it now controls a 73,000 ha area
of 100% owned contiguous claims, securing extensions of the volcanic complex related to mineralization.
Nico is located in an area of active mining and precious metal ore processing, being located approximately 85 km
from Pan American Silver´s Manantial Espejo Mine, and 45 km from Hunt Mining´s Martha mine. Pan American
Silver also recently purchased the Cap -Oeste Sur Este (COSE) project and is working toward developing the
Joaquin Au+Ag satellite deposits 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.
Nico Project History
Au+Ag mineralization at the Nico project was first discovered by Mirasol geologists in 200 4 while following up
high priority targets from the Company’s Santa Cruz generative program. Mirasol completed a surface
exploration program at Nico comprising geological mapping, rock chip sampling, ground magnetics and electrical
geophysics, defining a series of drill targets at the Endeavor (Nico Main) Prospect. In February 2009 Mirasol joint
ventured Nico to Coeur Mining (Coeur) who were at the time operating the bonanza grade Martha Ag+Au mine
in the area. Coeur completed one program of diamond core d rilling totalling 1,472 m in 11 shallow holes at
Endeavor with best result of 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
(AuEq60 5.45 g/t). No follow-up drilling was undertaken and Nico was returned to Mirasol without Coeur retaining
any equity in the project. Mirasol kept Nico on “care and maintenance” until the recent changes in the Argentine
investment climate encouraged Mirasol to recommence exploration late in 2016.
Mirasol invites investors to follow 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
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 sa mples are
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Tel: 604.602.9989 Fax: 604.609.9946 E-mail: [email protected]
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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 9001:20 08 accredited
laboratory in Argentina 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 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. Mira sol 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.