Mirasol Announces Vania Drill Campaign at Inca Copper-Gold 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]
www.mirasolresources.com
June 29, 2023
Shares Issued and Outstanding: 65,650,060
TSX-V: MRZ
OTC: MRZLF
Mirasol Announces Vania Drill Campaign at
Inca Copper-Gold Project in Chile
• Inca Gold is located within a “World-Class” Inca del Oro Mining District
• Airborne Mobile MT geophysical survey underway at Vania Prospects
• Drill campaign scheduled to start in July
• Compelling new targets emerging at Vania East and Vania SW
• Inca Gold and Sobek Project Update Webinar July 6 at 10 am PT / 1 pm ET
VANCOUVER, BC, June 29, 20 23 — Mirasol Resources Ltd. (TSX -V: MRZ) (OTC: MRZLF ) (the “ Company” or
“Mirasol”) is pleased to report that the 2022/23 exploration program continues to advance towards drilling at
the Vania North and Vania South prospects on the Inca Copper-Gold Project (“Inca Gold”) in Chile. Pursuant to
the Exploration Agreement with Venture Option between Mirasol and affiliates of 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).
“Vania South and North are compelling undercover geophysical targets hosted along a major structural corridor
within this well- endowed world-class copper district. Supported by geochemical soil survey results and select
high-grade rock chip samples, the Vania South and North targets are scheduled for drilling in late July,” Mirasol’s
President, Tim Heenan, commented. “In addition , exciting new targets have been discovered with a strong
magnetic signature at Vania East, and a compelling soil survey multi-elemental geochemical anomaly at Vania
SW. A property-wide airborne mobile MT survey is currently in progress to validate and refine the existing Vania
targets for drilling and potentially identify new prospects.”
An Inca Gold and Sobek Project Update Webinar
Webinar with Tim Heenan, the Company’s President and Patrick Evans, the Executive Chair will be held on July
6th, 2023 at 10:00 am PT / 1:00 pm ET. A brief presentation will be followed by a Q&A session. Registration can
be completed using this link.
Inca Gold is a large 16,300-hectare property package located at a relatively low altitude of 2,300m (ASL) in the
Paleocene belt of Chile with year-round access and nearby infrastructure. The Vania North and South zones are
both controlled along a major north-northeast structural corridor which hosts the Inca del Oro porphyry to the
south and the expansive El Salvador mining district to the north. Vania South is located at an important
intersection of two faults, the north-south trending regional Quebrada Vasquez fault, intersecting an east-west
trending undercover interpr eted fault passing through the center of the magnetic anomaly. The Vania North
magnetic depletion response is cradled within two intersecting north -northeast and south-southwest
lineaments and hosts a strong coincident gold soil survey geochemical anomaly.
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
Figure 1: Location of Inca Gold Project and the Vania Prospects
Airborne Mobile MT Geophysical Survey Initiated at Inca
Mirasol has contracted an Airborne Mobile MT survey projected to cover the entire Vania prospect at the Inca
project, including the Vania South and North prospects as well as the recently defined Vani a East and SW
prospects, with tightly spaced (100m) helicopter fl ight lines. Mirasol will also b e flying a MT survey at 200m
spaced lines over the 100% controlled Rubi Project, which is located just 20 km north of Vania. The targets at
Vania and Rubi are similar as they are both totally concealed by alluvial/colluvial transported gravel material.
Airborne Mobile MT has high-definition depth penetration to greater than 800m below the surface and has been
proven effective in defining targe ts in high -sulfidation epithermal (HSE) and porphyry systems elsewhere in
Chile. This MT survey will aid in refining high -priority targets for the upcoming maiden drill campaign focused
on Vania North and South.
Vania South and Vania North Targets
As previously reported, the reprocessing and re -interpretation of the original Newmont ground magnetic
(“Mag”) data resulted in the identification of the Vania South anomaly located 3 km south of Vania North (news
release September 7, 2022). At the Vania South target a concealed and very strong, d iscrete magnetic response
exists within the southeast corner of the Mag grid, showing smooth magnetic textures surrounding the main
anomaly ( news release December 8, 2022 ). Interpretation of the Mag data suggests that this very strong
magnetic anomaly may represent a concealed copper 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. Coincident with the magnetic responses, strong electrical Pole-Dipole IP
geophysical anomalies are seen in the sections at both Vania North and South resulting in high -quality
geophysical drill targets.
Figure 2: Vania Prospects Overview - Targets Generated from Reinterpreted and New Ground Mag Data
Figure 3: Vania Prospects Overview – Coincident Geochemical Anomalies Strengthen Drill Targets
New Emerging Vania East and Vania SW Targets
The reprocessing and re -interpretation of the original Mag data resulted in t he definition of a new previously
unknown prospective target at Vania East . In addition, reinterpretation of geochemical survey data outlined a
multi-element geochemical soil anomaly at Vania SW. Mirasol has recently completed a detailed Pole-Dipole IP
geophysical survey at Vania East, and a detailed ground magnetic survey at Vania SW. Both Vania SW and East
are localized along a strong north-northeast structural trend.
About Mirasol Resources Ltd
Mirasol is a well-funded exploration company with 19 years of operating, permitting and community relations
experience in the mineral rich regions of Chile and Argentina. Mirasol controls 100% of the high -grade Virginia
Silver Deposit in Argentina and is c urrently self-funding exploration at two flagship pro jects, Sobek and Inca,
both located in Chile. Mirasol also 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]
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
Website: www.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 forwa rd 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 differ ences 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 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 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.
Figure 1: Regional Location of Inca Gold Project and Vania Prospects
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 Codelco’s Inca de Oro Cu/Au porphyry deposit & El Salvador, Potrerillos District. The project has year-round road access and near
infrastructure for exploration activities.
Inca Gold -
Vania
Santo Domingo
Rubi Project
Inca Gold Project
Figure 2: Vania Prospects Overview – Targets Generated from
Reinterpreted and New Ground Mag Data
Vania North
Vania East
Vania South
Vania SW Vania SW
Vania Prospects – Vania North, South, East and SW, major
structural lineament and Phase I Vania drill targets North
and South.
Vania Prospects – Vania North, South, East and SW
A: Vania North, inset of DSG Gold-Score Soil Anomaly
B: Vania SW – (new) ground magnetics inset –Mag_TFM_Shaded-Image
C: Vania East – re-interpreted ground mag inset – 3D_susc_elev2100m
B
Phase I
Drill Campaign
A
Vania North
Vania South
C Vania East
DSG Au-Score
Soil Anomaly
Figure 3: Vania Prospects Overview – Coincident Geochemical Anomalies
Strengthen Drill Targets
Vania Prospects – Vania North, South, East and SW with
major structural lineaments and Phase I drill targets.
DSG Soil Lines & Geochemical anomaly contours clusters
Phase I
Drill Campaign
Vania South
Vania SW
Vania North
Property Boundary
Vania East