VANCOUVER, June 10, 2013 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) is pleased to announce initial surface results from its 100%-owned Atlas gold-silver project located in an emerging precious metals belt of northern Chile. Surface rock chip samples have returned assay results of up to 7.45 grams per tonne (g/t) gold and 639.0 g/t silver from rock chip samples located within a large area of alteration. Atlas is the second precious metals project generated by Mirasol through its Chile Miocene Arc exploration program, and is in proximity to the company's Titan epithermal gold property (see news releases of February 7, 2013 and March 1, 2013).
Atlas comprises a block of exploration claims totaling 6,300 hectares which are located at altitudes between 4,050 and 4,480 metres above sea level, accessible from a regularly maintained gravel road adjacent to the property. The workable elevation and good access are expected to facilitate systematic exploration of the property.
At Atlas, Mirasol's targeting has outlined a high-sulphidation epithermal (HSE) alteration zone covering an area greater than 25 square kilometres (Figure 1) Geological mapping suggests the alteration zone also extends under shallow, post-mineral cover in several directions, presenting the potential for further extensions of the presently recognized anomaly. Gold and silver mineralization sampled to-date is hosted by volcanic units with pervasive quartz-alunite-clay alteration, by hydrothermal breccias and also occurs in local structural "ribs" of vuggy quartz.
Assay results were received from 1,910 surface rock-chip samples which have delineated the breadth of the anomaly, as have widespread, strongly anomalous epithermal pathfinder elements (antimony, arsenic, barium, mercury and tellurium), and anomalous to locally high-grade gold and silver. Two spatially separate zones, the Atlas Gold Zone and the Atlas Silver Zone (Figure 2), exhibit higher-grade gold and silver mineralization, whereas other Atlas areas returned lower-level gold and silver assays, which may indicate prospects that could be partially capped by non-mineralized (steam heated) alteration.
The Atlas Gold Zone returned strong gold-silver assays from rock-chip samples, ranging up to 7.45 g/t gold and to 90.8 g/t silver, over an area of 200 by 300 metres, from outcrop and subcrop of quartz-alunite-clay altered volcanic rocks. Higher grade gold-silver assays correspond to sub-metre-wide hydrothermal breccias, whereas values of 0.1 to 1.91 g/t gold were returned from facture-veined and pervasive quartz-alunite altered volcanics with local development of vuggy quartz. Assay results are pending from further sampling to the east that may extend the dimensions of the mineralized zone.
The Atlas Silver Zone returned strongly anomalous silver and low-level gold with epithermal pathfinder elements over a 150 by 200 metre area of outcrop and locally-sourced float samples. Higher-grade silver assays ranging from 205.0 to 639.0 g/t, accompanied by gold results up to 0.15 g/t, were derived from sub-metre sized "float" rocks of multiphase hydrothermal breccia. Widespread, anomalous gold up to 0.18 g/t and silver to 24.0 g/t report to outcrops of silica-clay-alunite altered breccia and facture-veined volcanics. Shallow colluvium may cover the extension of the mineralized zone.
Mirasol geologists interpret the alteration, mineralogy and surface geology at the Atlas project to represent the upper portions of a large HSE alteration system (see Figure 2, and news release of January 17, 2013). The presence of quartz-alunite alteration and local ribs of vuggy silica, associated with anomalous gold-silver, suggest the current erosion level may be near the top of the mineralized interval in a typical HSE system, and potential exists for improving precious metals grades at depth.
Mirasol has received required archeological and environmental permits and has initiated a first pass trenching program at Atlas. An exploration camp has been established in the Atlas-Titan area to support exploration at these and other Mirasol projects in this emerging precious metal district.
Stephen C. Nano, Vice President of Exploration for Mirasol, is the qualified person under NI 43-101 who prepared and approved the technical content of this news release.
Quality Assurance/Quality Control:
Exploration at the Atlas Project 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 Drill Rock chip and stream sediment samples are collected under the supervision of Company geologists in accordance with standard industry practice. Samples are dispatched via commercial transport to an ISO 9001:2000-accredited laboratory in Chile for analysis. All rock chip 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.
Assay results from diamond drill core or RC drill samples may be higher, lower or similar to results obtained from surface samples.
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.
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