Mirasol Resources Ltd. (TSX-V:
MRZ) (OTCPK:
MRZLF) (the “
Company” or
“
Mirasol”) is pleased to report the start of the
2022/23 exploration program at the Company’s 100%-owned Sobek
Copper Project (“Sobek”) in Chile. Sobek was originally staked
based on prospective local structural architecture prior to the
2021 discovery of the high-grade feeder zone at the Filo del Sol
gold-copper deposit located 7 km to the east. Strong precious and
base metals results, including multi-percentage copper at Sobek
Central, in combination with attractive airborne magnetic responses
and very encouraging geological observations with clear evidence of
advanced stage hydrothermal activity and alteration add strength to
the Sobek exploration model. With surface access agreements
in-place camp and exploration crews have been mobilized to Sobek.
The 2022/23 exploration program has commenced and is expected to
include follow-up geochemical sampling and geological mapping
across the property, detailed ground geophysics and construction of
a temporary access road in preparation for drilling in the first
half of 2023.
“Last seasons maiden ‘boots on the ground’
campaign at our flagship Sobek copper project was a tremendous
success. Geochemical results with coincident geological
characteristics confirm the high prospectivity of our new flagship
project located in the rapidly developing Filo-Josemaria-Los
Helados district where we have recently seen an increase in
activity by several other prominent companies. We are extremely
excited about our exploration program currently underway as we
advance towards drilling later this season,” Mirasol’s President
Tim Heenan stated.
Emerging high-profile copper-gold
district
Sobek was staked in 2016 based on the local
structural architecture with a compelling north-northeast trending
mineralized structural corridor crosscut by a north-northwest
trending deep-seated trans-cordilleran lineament. This is a common
structural configuration which hosts several southern Andes metal
deposits in both Chile and Argentina. Sobek comprises a large block
of properties totaling 11,120 ha of exploration claims in three
strategic locations, the North, Central and South blocks.
A new copper-gold district is developing in the
Sobek area with multiple deposits located in close proximity,
including the Filo del Sol mid-Miocene epithermal - porphyry
gold-copper deposit 7 km east of Sobek; the Josemaria copper-gold
project 10 km to the northeast of Sobek; the Los Helados Porphyry
copper-gold breccia system 20 km to the north-northeast of Sobek;
and, the giant Eocene El Morro Porphyry copper-gold deposit 16 km
to the west-southwest.
Figure 1: Sobek, Emerging High-Profile
Copper-Gold District Regional Map
2021/22 maiden exploration
campaign
In light of the extraordinary prospectivity of
Sobek, Mirasol flew a 2,690 line-km airborne magnetics survey over
the entire property in mid-2021. The survey results refined
geological and structural interpretations at Sobek, and greatly
aided in focusing exploration during the maiden field campaign (see
news release dated February 28, 2022).
In addition to mapping, Mirasol`s exploration
teams collected 209 prospecting rock chip grab and float samples
and 50 regional stream sediment samples covering the entire
property. At Sobek Central, 127 grid based (100 x 50m spaced) soil
samples were recovered over the high priority Green Wall, CLP-Zone
and Central Breccia prospects. The results are discussed in detail
below.
2022/23 exploration and drill
campaign
Camp and exploration crews have been mobilized
to Sobek in support of follow-up ground exploration across the
entire property. At Sobek Central, which is currently considered a
high priority prospect, exploration will include the completion of
mapping and sampling, expansion of the existing soil grid, detailed
ground magnetics and IP electrical geophysics. The construction of
a temporary 4km access road into Sobek Central will facilitate
access for exploration crews and also drilling equipment later in
the season. This aggressive exploration campaign is designed to
refine drill targets for a maiden drill program in the first half
of 2023.
SOBEK CENTRAL BLOCK 2021/22 EXPLORATION
RESULTS
Sobek Central – “Green Wall
Zone”: Multi-percentage copper results from select
prospecting rock chip grab samples (see Table 1) were recovered
from a west-northwest trending structurally controlled intrusive
dyke hosting strong copper mineralization with “white” chalcocite,
bornite, azurite, chrysocolla and minor covellite, all confirmed by
petrology studies. This dyke varies from 0.2-0.8m in width with
select sampling from the trend returning repetitive results above
10% copper along a strike length of more than 250m (see Figure 2).
Further sampling is planned along this trend to confirm the grade
potential and fully evaluate the dimensions of the structure and
its significance. This structure may help focus us into a larger
“manto-type” or intrusive-hosted mineralization at depth below the
surface expression of this strong copper mineralization.
Table 1: Sobek Central - Green Wall Zone Select Rock Chip Grab
Sample Results
Note: Significant assay results from select rock chip grab and
float samples collected from the exposed dyke structure.
Sobek Central – CLP-Zone:
Characterized by a sequence of compact sandstones with a strong
reddish/green to yellow coloration. This zone is interpreted to be
an area of collapse (“CLP-Zone”) that exposes outcrops and large
rounded blocks of sedimentary rock with veinlets of hydrothermal
gypsum forming a strong stockwork, especially along the margins of
this striking geomorphological feature. The presence of
hydrothermal gypsum suggests that the affected sedimentary sequence
may be part of the cupolas zone of a deeper hydrothermal system.
The area displays strong geochemical anomalies in molybdenum in
rock chip and copper in soils (see Figure 2).
Table 2: Sobek Central - CLP Zone Select Rock
Chip Grab Sample Results
Note: Significant assay results from select rock chip grab and
float samples collected from the exposed outcrop and subcrop.
Sobek Central – “Central Breccia
Zone”: Located just above and south-southeast of the Green
Wall Zone, the Central Breccia Zone is characterized by what
appears to be a hydrothermal explosive breccia injected into the
intersection of two northwest-southeast structural lineaments. The
partially exposed geometry, as it is currently known, is
approximately 140 x 70m, but the actual limits remain to be
verified in the field by more detailed mapping (see Figure 2).
Detailed analysis of the upward transported
material in the breccia includes strongly clay phyllic altered
(quartz-sericite) and silicified granitic quartz-porphyry clasts,
with strong oxide-boxworks, which may indicate a concealed porphyry
target at depth. Limited rock chip geochemistry recovered from this
breccia shows a “spotty” polymetallic signature with
copper>zinc>lead. The detailed grid-based soil survey over
the breccia shows a very strong multi-element (polymetallic)
geochemical signature with coincident anomalies of
lead>zinc>silver>gold>copper in relative order of
strength of anomaly. This soil grid survey is currently being
enlarged in all directions to fully cover the area of interest.
Sobek Central- “VN Zone”: The
VN-Zone (Vetas Negras) is located at a higher elevation and
approximately 2km directly south of the Central Breccia
Zone. The area is represented by a series of explosive
breccia bodies, similar to those at the Central Breccia
Zone, although this occurrence is characterized by the
presence of float material of intrusive rock with very strong
argillic alteration and silicification hosting sheeted millimeter
scale black silica veinlets. These veinlets are weakly banded and
moderately magnetic, very similar to those veinlets found in and
characteristic of the “Maricunga Type” gold-copper porphyry
mineralization.
Geologically, these veinlets represent the
interaction of deep sourced hot magmatic fluids associated with a
deeper, potentially telescoped hydrothermal system. Results from
one sample collected returned 0.241 ppm gold and 234 ppm
copper which is highly encouraging for the level of
exposure of this mineralization. Detailed mapping and further
prospecting are planned during the current field season.
Figure 2: Sobek Central – Multi-element
Coincident Geochemical Soil Anomalies
The Bulk Leach Extractable Gold (BLEG)
geochemical stream sediment sampling technique is effective in the
Andean high cordilleran environments. As expected, at Sobek Central
both the BLEG and the fine -80mesh sample, which accompanies the
BLEG sample and is analyzed with the ICP geochemical process,
demonstrated strong multi-element stream sediment anomalies.
SOBEK NORTH BLOCK 2021/22 EXPLORATION
RESULTS
The Sobek North block is characterized by the
presence of intrusive bodies of intermediate-acid composition of
mostly Paleocene age. The lithology is an assemblage of granites,
granodiorites and monzonites. A distinctive feature of the
Paleocene in this area is the presence of andesitic dikes with
light to moderate magnetism. The presence of apparently younger
dioritic intrusive bodies is distinguished by the presence of
quartz veinlets with iron oxides (limonite) on the edges in contact
with the older host rock intrusives.
The presence of these dioritic intrusive bodies
with coarse crystalline quartz veinlets, up to 1cm wide, cutting
the granitic intrusive was also noted. These outcrops are exposed
in the southeast corner of the North Block in the "El Potro"
target. Sub-rounded float blocks with coarse molybdenite and traces
of chalcopyrite in intrusives were recognized, however the source
is not currently known and requires follow-up.
At Sobek North, highly anomalous BLEG results
show strong and locally coincident anomalies of copper, gold and
silver as well as strong anomalies in the -80mesh ICP with a
copper-gold-silver-molybdenum-lead-zinc signature (see Figure 3).
These are significant results, and this area will be the focus of
further groundwork during the current season.
Figure 3: Sobek Central and Sobek North – Stream
Sediment Sample Anomalies
SOBEK SOUTH BLOCK 2021/22 EXPLORATION
RESULTS
Limited exploration was completed at the Sobek
South Block during the last season. However, a brief reconnaissance
survey confirmed the presence of a prospective sequence of strongly
flow-banded extrusive rhyolitic dome complexes exhibiting strong
argillic clay alteration along the margins and contacts with the
host rocks. A strong gold stream sediment anomaly was also detected
at the southern part of the property. The geological environment in
the South Block is considered highly prospective. Further
groundwork is planned this season.
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
four partner-funded projects, with First Quantum Minerals and Mine
Discovery Fund 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, PresidentorTroy Shultz, Vice
President Investor Relations
Tel: +1 (604) 602-9989Email:
contact@mirasolresources.comWebsite: 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.
QAQC: Mirasol applies industry
standard exploration sampling methodologies and techniques. All
geochemical rock chip, soil, and stream sediment samples are
collected under the supervision of the company’s geologists in
accordance with industry practice. Geochemical assays are obtained
and reported under a quality assurance and quality control (QA/QC)
program with insertions of controls (standards, blanks and
duplicates) submitted to the laboratory. Samples were dispatched to
ALS Global - Geochemistry Analytical Lab, in Santiago, Chile, an
ISO 9001:2015 accredited laboratory, which is independent from the
Company. Rock chip samples (1-3kg) were prepared with PREP31, and
analysed by Au_ICP21 and ME-MS61. The soil samples were prepared
with PUL-31, analysed by Au_ICP21 and ME-MS61. The Stream Sediment,
mesh (1kg) samples were prepared by SCR-51#-80, analysed by
ME-MS41L. BLEG (>2kg) is the Bulk Leach Extractable Gold using a
cyanide-based bottle roll technique with an AA finish. Assay
results from 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 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.
Table 1 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/671808d7-79ef-45b5-be25-8e02ea00bb78
Table 2 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/44e21833-a406-4c6a-8d1b-fe37db57db7b
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