Mirasol Commences 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
September 11, 2023
Shares Issued and Outstanding: 65,650,060
TSX-V: MRZ
OTC: MRZLF
Mirasol Commences Vania Drill Campaign at
Inca Copper-Gold Project in Chile
• Inca Gold is located within a “World-Class” Inca del Oro Mining District
• Priority drill targets strengthened by 378-kilometer Airborne Mobile MT geophysical
survey
• Maiden drill hole collared at Vania South Prospect
VANCOUVER, BC, September 11, 2023 — Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the “Company”
or “Mirasol”) is pleased to report that the maiden drill program has been launched at the Vania South prospect
on the Inca Copper-Gold Project (“Inca Gold”) in Chile. The Vania South zone is controlled along a major north-
northeast regional 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 important faults,
which appear to control the emplacement of this magnetic anomaly.
“Vania South is a compelling drill target that has the characteristics of a concealed porphyry intrusive body
hosted along a major structural corridor within a well-endowed world-class copper district . Supported by the
recently completed Airborne Mobile MT survey, IP Ground geophysics, geochemical soil survey and select high-
grade rock chip samples, the Vania South prospect was elevated as the top priority target for drilling,” Mirasol’s
President, Tim Heenan, commented. “In addition, exciting new targets have been defined, specifically Vania East
with a strong magnetic signature that is a mirror image of Vania South and is located along the same structural
trend.”
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. Pursuant to an Agreement 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).
Figure 1: Location of Inca Gold Project and the Vania Prospects
Airborne Mobile MT Geophysical Survey Outlines High-Priority Targets
Mirasol completed a 378-line km Airborne Mobile MT survey (53 sq.km) covering the entire Vania prospect at
Inca Gold, including the Vania South and North prospects as well as the recently defined Vania East and SW
prospects, with tightly spaced (100m) helicopter flight lines over the principal targets.
The Airborne Mobile MT has high-definition depth penetration to greater than 800m depth below surface and
has been proven effective in defining targets in high -sulfidation epithermal (HSE) and porphyry systems
elsewhere in Chile. The survey has outlined several MT anomalies and the interpretation suggests they may
represent hydrothermal alteration overlying and surrounding concealed intrusive centers.
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
Vania South Prospect Prioritized for Drilling
Vania South was selected as the priority target because of the coincident geophysical survey and geochemical
surface results along with its location at the intersection of two prominent structural trends. 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). Vania South displays a very interesting and strong magnetic high response in
the analytical signal, and a very compelling target in the magnetic susceptibility processing. 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.
Figure 2: Vania Prospects – Ground Magnetics Outline Compelling Copper Porphyry Target
Coincident with the northern part of this set of Mag anomalies is a strong c onductivity anomaly which was
outlined by the Airborne Mobile MT geophysical survey. Vania Sout h is located along the intersection of two
very prominent structural trends, the north-south trending Quebr ada Vasquez fault and the east-northeast
trending Pique Sec o fault. A large c opper soil anomaly identified from the deep sensing geochemistry (DSG)
survey results, resides above the geophysical anomalies in the alluvial/colluvial transported cover.
The first hole at Vania South is designed to pass through the horizontal resis tive layer, which may represent a
lithocap, and continue to penetrate the large magnetic anomaly, the MT conductivity anomaly, both of above-
mentioned controlling fault structures and the surface geochemical anomaly. The magnetic anomalies appear
to reside in the downthrown block (hanging wall) of a large north-northeast structural trend which may separate
the basement block on the west side, and the downthrown block on the east side, in a typical horst/graben type
structural environment. The Vania South target appears to host characteristics similar to concealed porphyry
intrusive bodies, in a very attractive structural setting.
Figure 3: Vania South Prospect – Drill Targeting Multiple Geophysical Anomalies and Structural Controls
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. It is important to note that the Vania East target is
a mirror image of Vania South and is located along the same structural trend.
Presenting at Beaver Creek Precious Metal Summit - Webinar
Mirasol is participating at the 2023 Precious Metals Summit in Beaver Creek Colorado from September 12 to 15,
2023 (www.precioussummit.com). The webinar presentation with Tim Heenan, the Company’s President will be
available on the Mirasol website following the conference on September 15, 2023.
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 is currently self-funding exploration at two
flagship projects, Sobek and Inca, both located in Chile and controls 100% of the high- grade Virginia Silver
Deposit in Argentina. Mirasol also continues to advance a strong pipeline of highly prospective early and mid -
stage projects.
Suite 1150 – 355 Burrard Street, Vancouver, B.C. Canada, V6C 2G8
Tel: +1 604 602 9989 E-mail: [email protected]
www.mirasolresources.com
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
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 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.
1
IOCG
Belt
Cu-Porphyry
Belt
Inca Del Oro
Cu-Au-Mo
Deposit
20 km east-northeast from the Inca Del Oro Deposit to the Vania South prospect
Vania South
Vania North
Vania East
Vania SW
Figure 1: Location of the Inca Copper-Gold Project & the Vania Prospects
a) Ground Mag Analytical Signal shows mag high with possible
drill hole locations, with “VANS-DDH-A” as the maiden hole.
b) Mag-susceptibility processing showing mag-low targets and 3D Model.
Susceptibility from 2100m meter depth slice, extracted from a 3DMagnetic model.
Vania South Body in 3D
Vania North
Vania East
Vania South
c) New Airborne MT Mag-RTP
showing mag-low in “Hanging Wall”
Ground Magnetics Analytical Signal Ground Magnetics - Susceptibility
VANS-DDH-A
VANS-DDH-B
VANS-DDH-C
Basement
Block
Figure 2: Vania Prospects - Ground Magnetics Outline Compelling Copper Porphyry Target
A
B
CD
E
Drilling Multiple Targets: “A”-Conductive layer, possible lithocap “B”-High Magnetic Body
“C”- Pique Seco Fault “D”-Quebrada Vasquez Fault “E”- IP Resistivity Break “F”- MT Conductivity Anomaly
F
B
CD
AVANS-DDH-A
VANS-DDH-A
Apparent Conductivity
Background
3D Resistivity Isosurfaces
Porp
hyry+
+
+
+
+
+
+
+
+
Porphyry Target
Resistive Break
+800m
-60
219 Hz
Figure 3: Vania South Prospect - Drill Targeting Multiple Geophysical Anomalies and Structural Controls