Mirasol Identifies New Drill Targets on the Inca Copper-Gold Project in Chile
NEWS RELEASE
E-mail: [email protected] | Tel: +1 604 602 9989
mirasolresources.com
September 7, 2022
Shares Issued and Outstanding: 54,065,043
TSX-V: MRZ
OTCPK: MRZLF
Mirasol Identifies New Drill Targets on the Inca Copper-Gold Project in
Chile
Drilling Planned for Fourth Quarter 2022
VANCOUVER, BC, September 7, 2022 — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company”
or “Mirasol”) is pleased to report the identification of a compelling drill target at Vania North prospect on the
Inca Gold Project (“Inca Gold”) in Chile. Mirasol has also mobilized an Induced Polarity (IP) Survey crew to survey
a second potential drill target at Vania South. Inca Gold is a large 16,300-hectare property package, with multiple
exploration prospects, that has been optioned from Newmont Corporation (“Newmont”). Mirasol has the option
to earn-in 100% of Inca Gold, subject to a 1.5% NSR royalty (news release January 13, 2020).
“Two concealed zones at Vania are advancing as drill targets with coincident geochemical and geophysical
anomalies that have been strengthened with recent IP at Vania North ”, Mirasol’s President, Tim Heenan,
commented. “The Vania North and Vania South zone s are controlled along a structural corridor within a well -
endowed district that hosts significant advanced projects and producing mines.”
The Vania prospect (“Vania”) hosts two separate Porphyry/IOCG and/or High -Sulfidation Epithermal (HSE)
targets concealed under transported alluvial/colluvial cover in a very attractive structural architectural setting.
Vania is set within a strong north -northeast structural corridor which hosts the Inca del Oro porphyry to the
south and the expansive El Salvador mining district to the north.
Figure 1: Location of Inca Gold Project and the Vania Prospects
Vania North:
The area is characterized by several distinct, coincident geochemical and geophysical anomalies cradled within
an attractive structural intersection. A recent Electrical IP Pole-Dipole survey over the anomalies has successfully
detected compelling coincident IP anomalies. Vania North is considered a high-quality drill target.
A strong coherent geochemical gold anomaly was originally identified using Newmont`s proprietary Deep
Sensing Geochemical (DSG) sampling system. The DGS system detects concealed anomalies under transported
material by using a highly technical and effective sampling and analysis procedure, in conjunction with detailed
regolith mapping. Coincident with the DGS gold anomaly is a strong annular geochemical halo of pathfinder
elements (Hg, N b, Cd, Ag, Mo, Ni, As) within magnetic depletion zone interpreted to be controlled by the
intersection of NW and NE trending structural lineaments.
Mirasol’s s ubsequent reprocessing and reinterpretation of the Newmont magnetic data clearly delineates a
prominent NE -SW trend of magnetic depletion, coincident within a long, shallow topographic valley. Th e
magnetic depletion and low resistivity, identified from the recent IP survey, suggests that the rocks along this
trend may have been subjected to acid -sulphate leaching and may contain sections of vuggy silica, which are
deemed to be prospective zones for late-stage mineralizing events.
On the western edge of the concealed anomaly, within the outcropping wall rocks at the edge of cover, alteration
is seen in the form of locally hornfelsed rocks hosting Cu mineralization in small structures.
E-mail: [email protected] | Tel: +1 604 602 9989
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Figure 2: Vania North Target – Coincident Ground MAG, Geochemical and Pathfinder Anomaly
The recent electrical IP geophysical campaign has highlight ed several compelling concealed targets at Vania
North. The geophysical interpretation suggests the potential existence of HSE -type anomalies, which may
represent diatreme and vein-type structures, possibly underlain by a deeper more “porphyry -like” geophysical
response, which warrants further evaluation, including drilling. Prior to drilling, which is scheduled to commence
in Q4 2022, Mirasol will complete infill DSG lines at Vania North to vector into the best areas for the maiden drill
program.
Figure 3: Vania North Target – Potential Geophysical Targets Generated from Electrical IP Survey
Vania South:
The reprocessing and interpretation of the magnetic data has resulted in the identification of a second
compelling prospect three kilometers south of Vania North. At the Vania South target a very discrete and strong
concealed magnetic source exists within the SE corner of the Mag grid, showing smooth magnetic textures
surrounding the main anomaly. Interpretation of the magnetic data suggests that this may be a very strong
magnetic anomaly that could represent a concealed porphyry target , with the magnetic source potentially
characterizing the potassic-altered core of an intrusive body and the smooth magnetic border representing the
envelope of hydrothermal alteration.
Figure 4: Vania South Prospect – Reprocessed MAG Data Identifies Compelling New Prospect
In both the northern and southern areas of the concealed anomaly and outcropping within the exposed rocks at
the edge of cover, strong alteration exists in the form of local silicification and pervasive clay alteration as might
be expected at the upper levels above and flanking a porphyry copper system. Strong mineralization exists
in the surrounding rocks at Vania South and characterized by quartz-tourmaline veinlets with specular hematite
and local c opper oxide colours. Geochemical results from th e recent prospecting campaign are pending. This
alteration and mineralization could be peripheral and distal to the concealed magnetic anomaly , which would
indicate a potential concealed porphyry/IOCG target.
Mirasol has mobilized a crew to conduct an electrical IP Pole -Dipole survey over the magnetic body to detect
further geophysical features which may identify additional quality drill targets at the Vania South prospect. As at
Vania North, Mirasol will also complete new DSG lines at Van ia South to test for geochemical anomalies within
the surface regolith cover.
About Mirasol Resources Ltd
Mirasol is a well- funded exploration company with 18 years of operating, permitting and community relations
experience in the mineral rich regions of Chile and Argentina. Currently Mirasol is self-funding exploration at two
flagship projects, Sobek and Inca Gold, both located in Chile. Mirasol has five partner-funded projects, with First
Quantum Minerals, Mine Discovery Fund and Mineria Activa in Chile, Silver Sands Resources and Patagonia Gold
in Argentina. Mirasol continues to advance a strong pipeline of highly prospective early and mid-stage projects.
For further information, contact:
Tim Heenan, President
or
Troy Shultz, Vice President Investor Relations
Tel: +1 (604) 602-9989
Email: [email protected]
Website: www.mirasolresources.com
E-mail: [email protected] | Tel: +1 604 602 9989
mirasolresources.com
Qualified Person Statement: Mirasol’s disclosure of technical and scientific information in this press release has been
reviewed and approved by Tim Heenan (MAIG), the President 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 and changes to regulations affecting the mining indus try and to policies linked to pandemics, social and
environmental related matters. Forward-looking statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues and m ineral 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 obl igations 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.
FIGURE 1: Inca Gold Project Location
Vania
The 16,300 ha Inca Gold project is located in Region III of Chile, approximately 100 km north of Copiapo, and within the Inca Del Oro mining district
that hosts both Santiago Metals Delirio Cu/Au mine and Pan Aust/Codelco’s Inca de Oro Cu/Au porphyry deposit. The project has year-round road
access and near infrastructure for exploration activities.
Inca Gold -
Vania
Santo Domingo
FIGURE 2: Vania North Target –Coincident Ground MAG,
Geochemical and Pathfinder Anomaly
Ground MAG – RTP Deep Sensing Geochemical (DSG) Pathfinder Annular Halo
Gold Anomaly (Hg, Nb, Cd, Ag, Mo, Ni, As)
RTP Ground Mag shows a NE-trending
quiet zone (mag destruction)
coincident with Au-score anomaly.
Intersection of NW and NW
lineaments coincident with DSG gold
anomaly.
Pathfinder Elements mimics the
magnetic “quiet zone” and halos
around DSG gold anomaly.
Vania North
FIGURE 3: Vania North Target – Potential Geophysical Targets
Generated from Electrical IP Survey
FIGURE 4: Vania South Target – Reprocessed Magnetic Data
Identifies Compelling New Prospect
Vania North
Vania South: Magnetic source and
surrounding smooth textures and clearly
evident on this image. TMI (Vertical Integral)
Vania South: Low field intensities (Blue shaded
zones) surrounding the deep magnetic source,
potentially related to magnetic depletion.
Vania South