Last $1.05 USD
Change Today -0.0376 / -3.45%
Volume 5.3K
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As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

mirasol resources ltd (MRZLF) Snapshot

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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. Provides Exploration Update on Rubi Copper - Gold Porphyry JV in Northern Chile

Mirasol Resources Ltd. provided an exploration update on its Rubi porphyry copper - gold JV with First Quantum Minerals in the El Salvador - Potrerillos copper mining districts of northern Chile. First Quantum has been conducting an aggressive surface exploration program under the terms of a binding Letter Agreement, spending approximately USD 680,000 in the September 2013 to June 2014 period. With the signing of the Definitive Option and Joint Venture Agreement on August 14, 2014, First Quantum can now begin preparations to scout drill-test priority targets at Rubi. An archeological and environmental management plan, and drill proposal, was submitted to the Chilean authorities in late July 2014. This may take up to 10 weeks to process. Some of the exploration completed and results from the Rubi project to date includes processing of 2,460 line-km of a detailed helicopter magnetics survey of the project with 3D modeling software to highlight structure and potential exploration target areas. An extensive property-wide soil survey using both conventional soil samples in areas of locally derived soils and enzyme partial leach technique in the gravel-covered areas. An electrical geophysical survey has been initiated over some target areas at Rubi. This survey combines high sensitivity Induced Polarization (IP) and Magneto Telluric (MT) geophysical techniques. Combined, these techniques can be used to detect buried sulphide or silica accumulations through gravel cover and at significant depth that can indicate potential areas of mineralization. This geophysical data will be used as a final layer of information to filter and prioritize areas for drill testing. The Rubi project is located adjacent to two large porphyry copper -- gold mining districts in what Mirasol believes is an underexplored section of one of the world's more productive porphyry copper belts.

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.


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