Mirasol JV partner Yamana starts drilling at Gorbea
MIRASOL RESOURCES Ltd.’s joint venture partner Yamana Gold Inc. has commenced its third season of drilling at the Gorbea joint venture project in Northern Chile, and the drill program is well under way. Gorbea is a property package containing a number of high-sulphidation epithermal properties that include the Atlas and Titan gold projects. The drilling planned for the remainder of 2017 will comprise a seven-hole, 2,600-metre program at the Atlas gold project, where Mirasol recently announced the best down-hole intersection grading 1.07 gram per tonne gold over 114 metres, including 2.49 g/t gold over 36 metres hosted in oxidized HSE vuggy silica breccias (see news release dated Sept. 11, 2017).
The higher-grade gold mineralization encountered to date at Atlas is located at the Steam Heated zone target where four drill holes have delineated a zone of 650 metres by 125 metres, at approximately 255 metres to 310 metres depth with vertical extent in excess of 200 metres, located beneath intensely altered cap rocks. At the SHZ, mineralization is predominantly hosted in an oxidized multiphase breccia body characterized by intense quartz-alunite plus or minus jarosite alteration with vuggy silica-breccia clasts and contains late-stage translucent barite hosting visible gold. This type of mineralized breccia is characteristic of that seen in recent multimillion-ounce gold discoveries by Barrick Gold at Alturas (1) (6.8-million-ounce inferred resource grading 1.00 g/t gold) and Gold Fields at Salares Norte (2) (total resources including inferred of 3.8 million ounces grading 4.6 g/t gold and 43.8 million ounces of silver grading 53.1 g/t Ag), located 70 km due south of Atlas within the same aged belt of volcanic rocks.
Yamana Gold’s drill program is planned to further test the SHZ target and six other targets within the project area. These targets were recognized from integrated analysis of the extensive geological, geochemical, alteration and geophysical Atlas database, which leverages new mineral-systems knowledge gained from last season’s successful exploration at Atlas, paired with an improved understanding of the key features that led to the discoveries of Alturas and Salares Norte.
Results from the program will be reported as they are released to Mirasol. Exploration program design and drill hole target selection is currently in progress for other projects in the Gorbea JV including the Titan gold project where drilling is planned for the first half of 2018. Yamana is currently engaged in its 2018 budgeting process that will determine the magnitude of the JV spend and drill program at Atlas and the other projects in the Gorbea JV.
Mirasol invites investors to follow the Gorbea — Yamana Gold JV story by visiting the company’s website and signing up to receive our new releases.
Stephen Nano, president and chief executive officer of Mirasol, has approved the technical content of this news release and is a qualified person under National Instrument 43 -101.
Quality assurance/quality control of the Gorbea exploration program:
Under the terms of the Gorbea agreement, all exploration is managed by Yamana. All pre-joint-venture exploration on the projects was supervised by Mirasol’s chief executive officer, Stephen Nano, who is the qualified person under National Instrument 43-101. All information generated from the Gorbea joint venture program is reviewed and validated by Mirasol prior to release. The technical interpretations presented here are those of Mirasol Resources.
Yamana applies industry-standard exploration methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of Yamana’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 9001:2000-accredited laboratory in Chile for analysis. Assay results from 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.
(1) Barrick Gold Corp. Annual Report 2016.
(2) Gold Fields. (2016). The Gold Fields Mineral Resource and Mineral Reserve Supplement to the Integrated Annual Report 2016.
We seek Safe Harbor.
Nick DeMare, Patrick Charles Evans, Stephen Charles Nano, Dana H Prince, Borden Roger III Putnam, John Paul Peter Tognetti
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