- Mirasol believes it has identified a significant, new precious
metal district in Chile - the
Gorbea Belt.
- Mirasol's Atlas and Titan projects are the most advanced of
nine 100%-owned, precious metal projects comprising its Gorbea Belt
property portfolio in the prolifically mineralized Miocene-age
volcanic belt of Chile.
- New rock chip assays, including up to 492.0 g/t Ag expand the
Atlas Gold Zone (AGZ) and Atlas Silver Zone (ASZ) prospects.
- New prospects were identified with new float rock and outcrop
samples, with assays of up to 2.91 g/t Au and 2,470.0 g/t Ag.
VANCOUVER, Feb. 26, 2014 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ, Frankfurt: M8R) is pleased to report encouraging
silver and gold assay results from a recent project-wide rock chip
sampling program at its 100%-owned Atlas high-sulphidation
epithermal precious metal project, in the Gorbea Belt, Chile. These samples have returned assays of
up to 2.91 g/t Au and 2,470.0 g/t Ag from float and outcrop,
highlighting a number of new gold and silver targets and
significantly expanding the recognized area of surface
mineralization at the Atlas project.
The Gorbea Belt (Figure 1) is Mirasol's new
strategic area-play for high-sulphidation epithermal gold and
silver mineralization in Chile. The Gorbea Belt is located in the
prolifically mineralized Miocene-age volcanic arc, and is situated
approximately 150 km north of the Maricunga Belt which contains two
major gold and silver mines (Maricunga Mine and La Coipa), and five
large-scale gold and copper deposits.
Mirasol's Atlas and Titan projects are the most
advanced of the Company's nine 100%-owned precious metals
properties (Figure1) in the Gorbea Belt. At Titan, Mirasol recently
reported encouraging oxide gold results from the near-surface in
the first round of drilling (see news release of November 25, 2013). Atlas and Titan have
the logistical advantage of being located only eight km apart with
good access via a well-travelled gravel road, which will benefit
exploration and potential future development.
At Atlas, Mirasol applied a combination of
short-wave infrared alteration-vectoring, trace-element gridding
and detailed remote sensing to focus this season's field
exploration into the more prospective areas of the +25 sq km
alteration system. A total of 1,020 rock chip samples were
collected from October to December
2013, during ground reconnaissance of these areas.
Combined with last season's sampling, these samples give Mirasol a
rock chip data base with an impressive 3,032 assay points across
the project; however, large areas of the project are covered by
late syn-mineral to post-mineral flow domes and lavas, as well as
scree and soil, which could conceal additional mineralized
areas.
Preliminary analysis of the Atlas rock chip
database (Figure 2) shows widespread anomalous gold and silver
mineralization across the project. To date, five discrete prospect
areas have been identified where surface outcrop or float samples
assayed higher than 1 g/t gold and/or contained silver greater than
60 g/t.
Assay results from this season's sampling have
increased the areal extent of the AGZ (Atlas Gold Zone) and ASZ
(Atlas Silver Zone) prospects where Mirasol previously reported
encouraging gold and silver channel results from an initial
trenching program (see news release of September 16, 2013). This season's assays
include silicified float from ASZ assaying up to 0.189 g/t Au and
492.0 g/t Ag. Higher grade assays from new target areas include
float samples of brecciated and vuggy silica assaying 2.91 g/t Au
and 24.3 g/t Ag from an area located 1.5 km to the southwest of the
ASZ. In the northern extent of the project area, 3 km
northeast of the AGZ, silicified float returned assays up to 0.02
g/t Au and 2,470.0 g/t Ag.
Information gathered to date at Atlas, including
publicly available radiometric age-dates of alteration, demonstrate
that Atlas is a large-scale, early Miocene-age silver and gold-
enriched high-sulphidation epithermal system. The combination
of the age of mineralization, the silver-enriched character and the
high-sulphidation style of mineralization, show strong geological
similarities* to Kinross Gold's La
Coipa silver - gold mine, located at the northern end of the
Maricunga gold belt, which has historic production and remaining
resources totaling** approximately 2.75 million oz gold and 128
million oz silver.
Surface exploration continues to upgrade the
Atlas silver and gold project, where exploration has now identified
multiple exploration targets, and appears to outline a series of
mineralized trends up to 3 km in length. Mirasol's field
teams have initiated follow-up sampling of the new target areas in
order to prioritize targets for potential trenching and/or
electrical geophysical surveys.
Through the process of open ground staking and
an earn-in JV agreement with a private Chilean company (see news
release of June 26, 2013), Mirasol
Resources has expanded the claims it is exploring to over 40,000
hectares in the Gorbea Belt and surrounding areas.
Mirasol plans to initiate third party field
reviews of its Gorbea Belt projects with the objective of
identifying a strategic joint venture partner to accelerate
exploration of its Gorbea Belt package of precious metal
projects.
Stephen C. Nano,
Vice President of Exploration for Mirasol, is the Qualified Person
under NI 43-101 who has prepared and approves the technical content
of this news release.
*Analog that has similar geological
characteristics (age of mineralization / type of mineralization /
style and potentially the grade of mineralization). This may
be used to suggest exploration prospectivity but does not give any
guarantee that exploration could identify any resource or a
resource of similar size of scale to the original mine.
**Indicative total only. Should only be used as
an indication of the pre-mining global metal contained in the La
Coipa district.
Quality Assurance/Quality Control:
Exploration at the Titan and Atlas Projects and the Gorbea belt is
supervised by Stephen C. Nano, Vice
President of Exploration, who is the Qualified Person under NI
43-101, and Timothy Heenan,
Exploration Manager. All technical information for the
Company's projects is obtained and reported under a formal quality
assurance and quality control (QA/QC) program. All rock chip,
stream sediment and drill samples are collected under the
supervision of Company geologists in accordance with standard
industry practice. Samples are dispatched to an ISO
9001:2000-accredited laboratory in Chile for analysis. All rock chip,
stream sediment and drill samples are submitted to the Laboratory
with independently sourced, accredited standard and blanks and
where appropriate duplicate samples to facilitate monitoring of
laboratory performance. Certified Results are examined by an
independent qualified consultant to ensure laboratory performance
meets required standards.
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.
SOURCE Mirasol Resources Ltd.