MRZ) (OTCPK:
Company” or “
Mirasol”) today provides an exploration update for the Inca Gold Project (“Inca Gold”) in Chile. Inca Gold is a large 16,300 ha property package, with multiple exploration prospects, that has been optioned from Newmont Corporation (“Newmont”) (news release January 30, 2020).
The Sandra prospect (“Sandra”) at Inca Gold was the first zone to be tested and assay results have been received from the maiden 1,417m drill program. A total of eight diamond drill holes were completed on three separate targets to test for mineralization below outcropping quartz veins. The assay results for Au and Ag are generally low grade and over narrow widths, ranging from 0.5 to 1m. The highest values were in hole IG-DD-004 that returned 0.27 g/t Au and 47.8 g/t Ag over 0.5m (see Table 1). Mirasol is completing a review of the geochemical results and alteration indicators to assess if further drilling is warranted at the remaining untested Sandra targets.
Well-funded with around C$13M in cash
Share buy-back underway
What Mirasol Resources does:
Mirasol Resources Ltd (CVE:MRZ) (OTCMKTS:MRZLF) is a project generator and exploration company with gold, silver and precious metal properties in Chile and Argentina.
The Vancouver-headquartered company has seven partner-funded projects, two of which are with Newcrest Mining Ltd (Chile), and one each with First Quantum Minerals (Chile), Mine Discovery Fund (Chile), Mineria Activa (Chile), Silver Sands Resources (Argentina), and Patagonia Gold (Argentina).
It is self-funding two of its projects, namely the flagship Inca Gold (Chile) and Sacha Marcelina (Argentina).
Mirasol’s exploration efforts are focused on two highly productive mining regions: the Atacama-Puna region of northern Chile and the Santa Cruz Province in southern Argentina.
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Mirasol Resources Ltd. has reported that drilling has commenced at the Inca Gold project, located in the Region III of Chile.
The company’s 2020 surface exploration program delineated a large intermediate sulfidation epithermal vein field along the Sandra trend, in the southern part of the project, which has the potential to host significant silver, gold, and associated base metal mineralisation. The maiden 1500m drill program is targeting three of the most prospective zones on this trend, testing the targets to depths of between 80 and 200 m vertically below surface exposures. This program is scheduled to be completed in 2Q21, with assay results expected by mid-2021.