- Preparation for drilling is underway at two priority porphyry target areas that have been defined and supported by coincident geological, geophysical, geochemical and alteration attributes
- At Sobek North, to refine final drill collar positioning ground based electrical geophysics is being conducted at the Potro SE target located 3 km from NGEx´s Lunahuasi discovery
- At Sobek Central, road construction to facilitate geochemical sampling, ground geophysics and drilling is in progress to improve access to a trend of porphyry targets that start at the VN-Zone and extends south for at least 3 km to the Sobek 46 South target
- The VN-Zone is located on a parallel north-south structural trend 7 km directly west of Filo Mining’s Filo del Sol Project
VANCOUVER, British Columbia, Nov. 20, 2024 (GLOBE NEWSWIRE) — Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the “Company” or “Mirasol”) is pleased to report that the 2024/25 exploration season is underway at the Company’s 100%-owned Sobek Copper-Gold Project (“Sobek” or “the Project”) in the Vicuña District of Chile in preparation for drilling two of the high priority porphyry targets identified last year (news release dated May 13, 2024). With permits and community agreements in place exploration to evaluate and prioritize the multiple copper porphyry targets identified including detailed geological and structural mapping, sampling, geophysics and alteration analysis is progressing.
Drilling equipment and supplies are currently being mobilized to the Sobek North Potro SE target located 3 kilometers from NGEx´s Lunahuasi discovery. Induced Polarization (IP), Pole-Di-Pole (PDP) geophysical surveys to refine drill collar positioning at the Potro SE target is quickly advancing, with the first two 3-kilometer lines now complete and the final 2.6-kilometer line is nearly complete.
While drilling advances at Sobek North, exploration will be ongoing at Sobek Central to advance towards the second phase of drilling at the Sobek 46 South target later this season. Exploration will include electrical ground-based geophysics, and the continuation of the systematic grid based geochemical soil sampling survey to further define the trend of porphyry targets that start at the VN-Zone and extends south for at least 3 kilometers to the Sobek 46 South target. The VN-Zone Trend is located on a parallel structure 7 kilometers directly west of Filo Mining’s Filo del Sol Project. Construction of a 2.5-kilometer access road is currently advancing to facilitate exploration and future drill mobilization.
“Our progress at Sobek has been building towards this very pivotal exploration season for years. Drilling is expected to start imminently at the copper porphyry target at Sobek North. The Potro SE target is a shallow cylindrical shaped magnetic response at the intersection of two productive faults, in a similar geological setting as reported by NGEx at their Lunahuasi discovery. The data collected from the final IP survey of the Potro SE prospect is currently being reviewed to finalize drill targeting,” Mirasol’s President and CEO Tim Heenan stated. “While drilling proceeds at Sobek North, we will continue exploration at Sobek Central to advance towards drilling the Sobek 46 South target later this season. The Sobek 46 South target is the largest coincident Mag and MT geophysical anomaly we have outlined to date with mineralized tourmaline breccias and elevated copper-moly-gold geochemical results on surface. Sobek 46 South is at the southern end of the of the 3 kilometers long VN-Zone series of porphyry targets located 7 kilometers directly west of the Filo Del Sol Project on what is interpreted to be a similar parallel regional N-S trending controlling structure.”
Final Preparation Before Drilling Sobek North – Potro SE Target
At the southeastern corner of the Sobek North block, a shallow cylindrically shaped magnetic high target (“Potro SE”) was identified 250 meters below surface from the original airborne-mag survey (news release dated May 13, 2024). The Potro SE magnetic high is cradled within the intersection of two productive faults the Maranceles Fault and the Ventana Fault, which continues 3 kilometers north-northeast to Lunahuasi.
Coincidentally, follow-up exploration has returned several elevated results ranging from 1.8% to 0.11% copper and 87 to 2 ppm molybdenum from select grab samples directly overlying the magnetic anomaly and a systematic soil grid survey across the target also returned a coherent copper soil anomaly. Intense propylitic (green rock) alteration outcrops over a 600 x 600-meter area, directly above the cylindrical magnetic anomaly.
A chargeable electrical IP-PDP anomaly, which has yet to be fully defined, is spatially associated with the cylindrical magnetic high. Three additional geophysical lines of IP-PDP are nearing completion over the target to map out the geometry of the chargeability anomaly more precisely and to finalize drill collar placement.
Advancing to Drilling Sobek Central – Sobek 46 South and the Southward Expansion of the VN-Zone
Situated in the south end of the Sobek Central block, the VN-Zone appears to represent the northern most expression of a much larger hydrothermal system hosting multiple porphyry targets that extend for more than 3 kilometers to the south (news release dated May 13, 2024). Exploration last season significantly expanded the alteration and mineralization footprint of the VN-Zone to the south across the previously consolidated SQM property (“Rosita”) (news release dated February 14, 2024) and onto the 100% owned Mirasol claim block (“Sobek 46 South”).
The emerging porphyry target at Sobek 46 South, is associated with a very large (over 1 kilometer by 1 kilometer) aerial geophysical response sourced from both airborne magnetics and MT surveys. Prospecting campaigns have reported copper mineralization in rockchips directly above the subsurface Mag and MT geophysical anomalies. The systematic soil sampling has also started to define what appears to be a strong and coherent copper/moly/gold soil anomaly coincident with the rockchip geochemistry overlying the geophysical responses at Sobek 46 South (news release dated May 13, 2024).
Mineralized tourmaline breccias identified on surface directly above the coincident Mag and MT geophysical anomalies are considered strong geological indicators for potential copper porphyry mineralization at depth. Tourmaline breccias commonly contribute significantly to the copper content of copper porphyry systems.
High-Profile Vicuña Copper-Gold-Silver District
Mirasol staked the Sobek Project in 2016 based on prospective local geology and attractive structural architecture prior to the 2021 discovery of the high-grade feeder zone at the Filo del Sol gold-copper deposit and the 2023 discovery of Lunahuasi. The continually expanded and consolidated Sobek Project is located on the same regional N-S trending structural corridor and just 3 kilometers to the west of the Filo del Sol deposit and 3 kilometers to the southwest of NGEx Mineral’s discovery at Lunahuasi.
Sobek is located within a prospective geological environment 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 hosting numerous Andean metal deposits in both Chile and Argentina.
Webinar Outlining Exploration Progress and Plans for Sobek Copper-Gold Project
A webinar with Company President and CEO Tim Heenan outlining exploration progress and plans for drilling the Sobek Copper-Gold Project was recently recorded at the Precious Metals Summit Zurich is available here on the Mirasol website.
About Mirasol Resources Ltd
Mirasol is a well-funded exploration company with 20 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 Gold, 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.
For further information, contact:
Tim Heenan, President & CEO
or
Troy Shultz, Vice President Investor Relations
Tel: +1 (604) 602-9989
Email: contact@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 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.
