VANCOUVER, July 25, 2017 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, "Mirasol") is pleased to report that the Company has expanded its claims holdings at the Odin copper project in the prolific Oligocene age copper belt of northern Chile from 900 ha to over 5,660 ha securing significant extensions to the district scale alteration system previously reported at the project.
The Odin project is located (figure 1) 35 km north of BHP's giant La Escondida copper mine giving Odin key operational advantages in infrastructure and access. Odin is localised at the intersection of the Domeyko fault system, a continental scale structure that has influenced emplacement of a number of giant Oligocene age porphyry deposits in Chile and parallel structures to the trans-orogen Archibarca structure. This structural setting is analogous to that of the nearby Escondida copper district.
Stephen Nano, Mirasol's CEO commented: "Mirasol now controls a significant claims package at Odin, an area that hosts a compelling conceptual porphyry Cu target, along trend for one of the world's premier copper mines. Early exploration results have increased the prospectivity of the project and suggest the potential to develop further targets at the property."
Odin is centred on a large alteration system that is evident from the Company´s Landsat 8 alteration processing (figure 2). Field follow-up with ground based alteration mineralogy measurements and geochemical sampling has defined a previously untested conceptual porphyry target (see news release March 2, 2017) concealed beneath a geochemically barren alteration lithocap at Odin. Recent staking of new claims has significantly expanded the area of alteration controlled by Mirasol at the Odin project from the original 2.6 to 6.5 sq kms.
Systematic field exploration will determine if the recently staked claims could potentially host additional porphyry copper targets. Mirasol has expanded reconnaissance rock chip sampling outward from the original Odin target into the new claims. Initial results have returned encouraging Cu + Mo + Au assays (figure 3) from narrow structures that may vector toward new conceptual targets at the project. Detailed analysis of the satellite base alteration processing suggests zoning patterns that could indicate higher temperature centres within the larger alteration system. These areas will be the focus of future exploration.
The Odin Project was staked as part of Mirasol's Chilean copper strategy aimed at building a portfolio of high quality copper projects in the world class northern Chile copper belt. Mirasol has received strong interest in Odin and the recently announced porphyry targets at Rubi project adjacent to the Giant El Salvador copper district. Mirasol is actively seeking joint venture partners to drill test and develop these projects.
Mirasol is pleased to announce the launch of its new website and corporate branding. To follow the Odin story, please visit www.mirasolresources.com
Stephen Nano, President and CEO of Mirasol, has approved the technical content of this news release and is a Qualified Person under NI 43 -101.
Quality Assurance/Quality Control of the Odin exploration program:
All exploration on the project was supervised by Mirasol CEO Stephen C. Nano, who is the Qualified Person under NI 43-101.
Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill 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. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Chile for analysis. Assay results from surface rock, 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. 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.
SOURCE Mirasol Resources Ltd.
For further information: Stephen Nano, President and CEO, or Jonathan Rosset, Manager of Corporate Development, Tel: +1 (604) 602-9989, Email: email@example.com, Website: www.mirasolresources.com