Drilling is underway at the High-Priority Potro SE target located 3 km from NGEx’s Lunahuasi
Ground based electrical geophysics were recently completed to refine the geometry of the porphyry target
The Potro SE target was defined and supported by coincident geological, geophysical, geochemical and alteration attributes
At Sobek Central, road construction to reach the Sobek 46 South target is in progress to facilitate geochemical sampling, ground geophysics and drilling later this season
The Sobek 46 South target is the southern extent of a 3 km trend of porphyry targets beginning at the VN-Zone located 7 km directly west of Filo Mining’s Filo del Sol Project
VANCOUVER, British Columbia, Nov. 28, 2024 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the “Company” or “Mirasol”) is pleased to report that drilling has started at the Potro SE target on the Company’s 100%-owned Sobek Copper-Gold Project (“Sobek” or “the Project”) in the Vicuña District of Chile. Located at the southern corner of the Sobek North property block the Potro SE target is strategically situated just 3 kilometers from NGEx’s Lunahuasi discovery and is the first of two high priority porphyry targets planned for drilling this season (news release dated May 13, 2024).
“We are excited to announce that drilling is well underway at Sobek North,” Mirasol’s President and CEO Tim Heenan stated. “The Potro SE target is characterized by a shallow cylindrical shaped magnetic high response with a coincident high IP chargeability located at the intersection of two productive faults reinforcing its potential as a concealed porphyry target.”
Drilling High-Priority Potro SE Target - Sobek North
A diamond drill is on site and drilling is in progress to test the Potro SE target. The first diamond drill hole is anticipated to reach the top of the target at a depth of 250-350 meters and continue to a total depth of 700-800 meters. It is expected to take 25-30 days to complete the planned drilling.
The Potro SE target is a cylindrically shaped magnetic high anomaly previously identified from an airborne-magnetics survey supported by coincident copper-moly geochemical anomalies sourced from both soil grid and rock chip sampling (news release dated May 13, 2024). An Induced Polarization (IP), Pole-Di-Pole (PDP) geophysical chargeability response is also spatially associated with the Potro SE cylindrical magnetic high target and located at the intersection of two productive faults the Maranceles Fault and the Ventana Fault (which continues 3 kilometers north-northeast to Lunahuasi). These concurrent geological, geophysical, geochemical and alteration attributes reinforce Potro SE’s potential as an attractive concealed porphyry system.
Progress to Sobek 46 South Target and Expansion of the VN-Zone South
Situated in the southern end of Sobek Central, the VN-Zone appears to represent the northern expression of an extensive hydrothermal system hosting multiple porphyry targets that continues for more than 3 kilometers south to the Sobek 46 South target (news release dated May 13, 2024). The VN-Zone Trend is located on a structural corridor parallel to Filo Mining’s Filo del Sol Project located 7 kilometers directly east.
While drilling progresses at Sobek North, exploration will continue at Sobek Central to advance towards the second phase of drilling at the Sobek 46 South target later this season. Construction of a 2.5-kilometer access road is underway to support ongoing exploration and facilitate future drill mobilization. Planned exploration work will include electrical ground-based geophysics and the continuation of the systematic grid-based geochemical soil sampling aimed at refining and extending the porphyry targets trend.
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.
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
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.
