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mirasol resources ltd (MRZLF) Details

Mirasol Resources Ltd., an exploration stage company, focuses on the discovery, acquisition, and exploration of precious and base metals deposits in Argentina and Chile. It holds a 100% interest in the Rubi copper-gold porphyry property located in central Chile; and Titan and Atlas projects located in Chile. The company also owns 100% interests in 7 exploration projects and 12 early-stage precious metals prospects in Santa Cruz Province, Southern Argentina. Mirasol Resources Ltd. was founded in 2003 and is based in Vancouver, Canada.

mirasol resources ltd (MRZLF) Top Compensated Officers

Co-Founder, Chief Executive Officer, Presiden...
Total Annual Compensation: C$199.2K
Co-Founder, Consultant, Director, Member of A...
Total Annual Compensation: C$189.0K
Chief Financial officer
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

mirasol resources ltd (MRZLF) Key Developments

Mirasol Resources Ltd. Signs Definitive Option and Joint Venture Agreement with First Quantum Minerals Ltd

Mirasol Resources Ltd. announced that on the August 14, 2014 it signed the definitive option and joint venture agreement with its partner, First Quantum Minerals Ltd. for the exploration and development of its 100%- owned, 13,659 hectare Rubi Property, located in the El Salvador copper-gold mining district of Region III, northern Chile. The Definitive Agreement requires First Quantum to make an exploration expenditure commitment of at least USD 1.5 million by the first year anniversary of the signing of this agreement, with a minimum exploration commitment which includes a project-wide magnetic geophysical survey and 3,000 m of core drilling on the Rubi Property. The Definitive Agreement provides for First Quantum to earn a 55% interest in the Rubi Property upon completion of a USD 6.5 million investment in exploration over four years from the date of signing the Definitive Agreement including at least USD 1.0 million in annual staged cash payments following the first year. After the initial earn-in, First Quantum's participating interest may be increased to 65% on completing, within an additional two years, a NI 43-101 compliant technical report, including an indicated resource estimate and Preliminary Economic Assessment (PEA) of more than 1.0 million tonnes of contained Cu metal, using a 0.20% cut-off grade.

Mirasol Resources Reports Results at Atlas AGZ Prospect

Mirasol Resources recently reported that it had outlined an 800 by 500 m zone of anomalous gold and silver mineralization in rock chip float and subcrop samples at its 100%-owned Atlas AGZ prospect. Of the 473 rock chip samples collected here, 55 have assayed between 1.0 to 50.3 g/t Au. These higher-grade samples are interpreted to define a series of northwest-trending quartz-alunite alteration zones with vuggy silica and hydrothermal breccias, hosted by andesitic lava flows, or an andesitic flow dome. The gold - silver trends are spatially associated with a 1 km long, opened-ended highly resistive geophysical anomaly defined in Mirasol's recent IP survey at Atlas. These resistive anomalies may represent hydrothermal feeder zones or buried flow domes. Anomalous rock chip samples with assays in the range 0.1 to 30.7 g/t Au and with Ag assays up to 56.9 g/t occur on the margin, or over the top, of the buried resistive anomalies potentially representing geochemical leakage from the covered geophysical features. Mirasol also recently completed a detailed re-mapping and channel re-sampling program over the existing trenches at the AGZ prospect to better understand the mineralization in the trenches and its relationship to the Au and Ag-bearing quartz-alunite zones at surface. The best length-weighted average trench channel results from this season's sampling include 11.3 m at 1.32 g/t Au and 7.3 g/t Ag, and 14.9 m at 1.67 g/t Au and 0.6 g/t Ag (at a 0.1 g/t Au equivalent cut-off). Higher-grade channel intervals (at a 0.5 g/t Au equivalent cut-off) include 2 m at 4.91 g/t Au and 3.0 g/t Ag, and 2.2 m at 5.08 g/t Au and 26.0 g/t Ag. The gold - silver mineralization in the AGZ trenches correlates to a series of vuggy silica structures (Photo Gallery A, B, C) and alunite matrix hydrothermal breccias (Photo Gallery D, E, F) with quartz-alunite alteration halos. These structures and breccias are best developed over a 70 m section of Trench 2, with individual vuggy silica structures ranging up to 4 m wide, while the hydrothermal alunite matrix breccias are exposed for intervals of up to 23 m along the trench wall (true width unknown at this stage). Mineralized zones in the trenches show a strong correlation with the surface quartz-alunite trends. The higher-grade surface rock chip trends, including areas with rock chip assays up to 30.7 g/t Au and 42.3 g/t Ag identified this season have not yet been trenched. This presents an excellent opportunity to extend the mineralized zones.

Mirasol Resources Ltd. Closes the Southern Hemisphere 2013-14 Summer Exploration Season in Early June

Mirasol Resources Ltd. closed the southern hemisphere 2013-14 summer exploration season in early June. At season's end approximately 80% of the +25 sq. km Atlas alteration system had been systematically reconnaissance sampled with over 2,479 surface rock chip and 334 stream sediment samples collected this season. These results have expanded the dimensions and upgraded the potential of the Atlas Gold Zone (AGZ) and the Atlas Silver Zone (ASZ) prospects as well as defining a large gold-silver anomaly at the new Pampa prospect. At the Atlas Gold Zone new assay results from detailed surface prospecting have outlined a series of northwest-oriented mineralized trends in float and subcrop (thought to be very near its source outcrop), extending away from last season's trenches. Rock chip sampling of the trends has returned multi-gram gold and silver assays over an 800 by 500 m area, including best assays of 30.70 g/t Au with 42.3 g/t Ag and 50.30 g/t Au with 5.24 g/t Ag. Higher grades are associated with subcrop of vuggy silica structures and hydrothermal breccias, typical of high-sulphidation epithermal systems. Some of these trends correlated to mineralization exposed in last season's trenches. However the recently identified higher-grade trends have not yet been trenched, suggesting the potential for significant new zones of mineralization underlying the rock chip anomalies and surrounding soil cover. At the Atlas Silver Zone systematic prospecting and mapping has outlined a 700 m long zone of anomalous silver-gold mineralization in rock chip float and subcrop samples, surrounded by widespread soil and alluvium. This cover may conceal additional mineralization. At the ASZ high-grade silver assays in the range 112.0 to 639.0 g/t Ag (with anomalous gold to 0.15 g/t), are associated with silicified tuffs and high-level upward flaring breccia bodies. The new Pampa prospect is less well understood due to limited outcrop, however assay results from surface rock chip sampling, suggest further exploration is warranted. Here rock chip float and subcrop samples have returned anomalous gold and silver assays over an area of approximately 500 by 500 m. To date, assays from this prospect correspond to narrow (30 cm wide) quartz-alunite altered breccias and pervasively altered tuffs. Assay results fall into two groups. Those with similar amounts of gold and silver, with assays up to 2.91 g/t Au and 5.70 g/t Ag; and those where silver is dominant over gold, with silver assays in the range 248.0 to 421.0 g/t and gold up to 0.08 g/t. This may suggest two distinct sources of mineralization in the area or overprinting phases of mineralization.


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