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Mirasol Resources aiming to kick off diamond drilling in first quarter next year at Inca gold project after encouraging surface work

At least five vein trends striking northwest, within a 2.5 by 4 km area have been mapped at the prospect

Mirasol Resources Ltd. -
The diamond drilling program will target three of the most prospective zones along the principal Sandra trend

Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) (FRA:M8R) reported encouraging results from surface exploration at the Sandra prospect at its Inca gold project in Chile and said a 1,500 metre (m) drill program was planned to start in the first quarter of 2021.

At least five vein trends striking northwest, within a 2.5 by 4 kilometres (km) area have been mapped at the prospect, the company said, while vein trends extending over strike lengths of 1.2 km were identified, which were up to 3m wide.

READ: Mirasol Resources looking at how to advance its Nandi copper project in Chile after encouraging exploration

"The areal extent of the Sandra vein field is impressive," said Mirasol's interim CEO Patrick Evans.

"Results to date demonstrate potential with anomalous Au and Ag values returned over a strike length of more than 1.2 km. Further detailed surface sampling, mapping and drilling will give us a complete understanding of the full potential of this prospect."

The diamond drilling program will target three of the most prospective zones along the principal Sandra trend and initially test to a depth of between 80 and 200m below the outcropping surface exposures.

The targets are Lomo Ballena (LB), Veta Escuela (VE) and Veta Valle (VV). These three targets represent the deepest eroded parts of the outcropping system and all show an overall increase in gold and silver grades, compared with the higher elevation surrounding areas.

The VV vein area is host to one of the highest assay results recovered in channel sampling to date, with an intersection of 0.36m at a grade of 0.43 grams per ton (g/t) gold and 156 g/t silver.

Five diamond drill holes have been selected as initial priorities and, based on results, a further series of drill holes are planned to follow along strike, down-dip and to step out to other prospective epithermal structures in the system.

The 16,300 hectares (ha) Inca gold project lies in Region III of Chile, within the Inca Del Oro mining district that hosts both Santiago Metals Delirio copper/gold mine and PanAust/Codelco’s Inca de Oro copper/gold porphyry deposit.

The project has good access allowing for year-round exploration.

Mirasol has six partner-funded projects in its portfolio, two of which are with Newcrest Mining Ltd (Chile), and one each with First Quantum Minerals (Chile), Mine Discovery Fund (Chile), Mineria Activa (Chile) and Silver Sands Resources (Argentina). The company is currently self-funding exploration at the two projects -  Inca Gold in Chile and Sacha Marcelina in Argentina.

Contact the author at giles@proactiveinvestors.com

Quick facts: Mirasol Resources Ltd.

Price: 0.455 CAD

Market: TSX-V
Market Cap: $24.62 m

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