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Nico Gold Silver Project

Overview

Location

Gold and Silver mineralization at the Nico project was first discovered by Mirasol geologists in 2004 while following up high priority targets from the company’s Santa Cruz generative program. In 2009, Coeur Mining who operated the adjacent high grade Martha Silver Mine at the time, signed a Joint Venture with Mirasol for Nico, completed one drilling program, then returned the project to Mirasol without any retained interest.  In 2016, encouraged by an improving investment climate, Mirasol resumed activity at the project completing surface exploration to define drill targets. An initial drill program was funded by Mirasol and completed in early 2019.

The Nico Project is situated in a logistically favorable setting in rolling hills at a modest elevation of approximately 600 m AMSL. The project is traversed by a well-maintained provincial gravel road. Nico is located 43 road km north of the Martha high grade silver mine, recently recommissioned by Hunt Mining, and 83 road km northwest of the Manantial Espejo Silver-Gold mine operated by Pan America Silver.

Project Details

Following on its positive surface exploration results, the Company initiated a drill program in late 2018 to test the newly defined epithermal veins at the Resolution, Aurora and Vittoria Prospects.

Mirasol announced on March 4, 2019 that the drilling program at Nico was terminated early following the receipt of results from 22 holes. Full results have now been received for the 27-hole program and are provided on this page.

Two factors have contributed to disappointing results:

  1. the majority of vein or vein breccia structures maintain the same width or pinch out rapidly at depth rather than dilating; and
  2. the surface samples are strongly oxidised and there seems to have been significant supergene enrichment of Ag and Au very near surface that does not continue to depth.

At this time, Mirasol does not intend to do any further exploration on the Nico project.

2018/2019 Drill Program Results

AuEq60 3g/t cutoff
ProspectHole ID From (m)  To (m)  Interval (m)  Gold Equivalent (g/t)
(Au+Ag/60)
 Gold (g/t)  Silver (g/t)  Gold Equivalent x
Metre
ENDEAVOURND-11         105.50   106.15                   1.25                                    5.46            2.172            197.04                             6.82
AuEq60 1g/t cutoff
ProspectHole ID From (m)  To (m)  Interval (m)  Gold Equivalent (g/t)
(Au+Ag/60)
 Gold (g/t)  Silver (g/t)  Gold Equivalent x
Metre
AURORAAUR-RC-004           31.00     32.00                   1.00                                    1.29            1.160                7.58                             1.29
AURORAAUR-RC-005           21.00     22.00                   1.00                                    2.51            1.300              72.68                             2.51
RESOLUTIONRES-RC-006           47.00     48.00                   1.00                                    1.91            1.110              48.25                             1.91
ENDEAVOURND-03           93.00     94.50                   1.50                                    1.69            0.110              95.00                             2.54
ENDEAVOURND-03           95.30     96.45                   1.15                                    1.91            1.094              48.91                             2.20
ENDEAVOURND-03           96.45     96.90                   0.45                                    1.50            0.300              72.00                             0.68
ENDEAVOURND-03         128.75   129.35                   0.60                                    2.42            1.770              39.00                             1.45
ENDEAVOURND-05           68.30     69.00                   0.70                                    1.38            0.510              52.00                             0.96
ENDEAVOURND-11         105.50   106.75                   1.25                                    5.46            2.172            197.04                             6.82
AuEq60 0.5g/t cutoff
ProspectHole ID From (m)  To (m)  Interval (m)  Gold Equivalent (g/t)
(Au+Ag/60)
 Gold (g/t)  Silver (g/t)  Gold Equivalent x
Metre
AURORAAUR-DH-001           49.24     49.63                   0.39                                    0.72            0.090              37.78                             0.28
AURORAAUR-DH-006           24.75     25.10                   0.35                                    1.28            1.080              11.75                             0.45
AURORAAUR-RC-004           29.00     32.00                   3.00                                    0.86            0.773                5.34                             2.59
AURORAAUR-RC-004           33.00     35.00                   2.00                                    0.80            0.775                1.72                             1.61
AURORAAUR-RC-005           21.00     23.00                   2.00                                    1.53            0.765              45.90                             3.06
RESOLUTIONRES-DH-003           26.40     26.70                   0.30                                    1.06            0.060              60.12                             0.32
RESOLUTIONRES-DH-003           78.10     78.40                   0.30                                    2.67            1.180              89.57                             0.80
RESOLUTIONRES-DH-003           78.75     79.00                   0.25                                    1.68            0.980              41.82                             0.42
RESOLUTIONRES-DH-003           80.30     80.55                   0.25                                    0.93            0.340              35.10                             0.23
RESOLUTIONRES-DH-003         131.25   131.90                   0.65                                    0.84            0.220              37.01                             0.54
RESOLUTIONRES-RC-001           33.00     34.00                   1.00                                    1.27            0.550              43.16                             1.27
RESOLUTIONRES-RC-002           20.00     21.00                   1.00                                    0.83            0.180              39.29                             0.83
RESOLUTIONRES-RC-004           46.00     48.00                   2.00                                    0.63            0.190              26.27                             1.26
RESOLUTIONRES-RC-006           43.00     44.00                   1.00                                    0.60            0.120              29.08                             0.60
RESOLUTIONRES-RC-006           47.00     48.00                   1.00                                    1.91            1.110              48.25                             1.91
RESOLUTIONRES-RC-007             7.00        8.00                   1.00                                    0.89            0.190              41.89                             0.89
RESOLUTIONRES-RC-007           28.00     29.00                   1.00                                    1.35            0.330              61.43                             1.35
RESOLUTIONRES-RC-008             4.00        5.00                   1.00                                    1.03            0.480              32.96                             1.03
RESOLUTIONRES-RC-008           48.00     49.00                   1.00                                    1.82            0.990              49.55                             1.82
VITTORIAVIT-RC-001           25.00     26.00                   1.00                                    0.89            0.080              48.87                             0.89
VITTORIAVIT-RC-002           13.00     14.00                   1.00                                    0.50            0.440                3.75                             0.50
VITTORIAVIT-RC-002           21.00     22.00                   1.00                                    0.69            0.220              28.15                             0.69
ENDEAVOURND-01           70.40     71.55                   1.15                                    0.71            0.030              41.00                             0.82
ENDEAVOURND-02           62.70     63.50                   0.80                                    1.00            0.650              21.00                             0.80
ENDEAVOURND-03           93.00     94.50                   1.50                                    1.69            0.110              95.00                             2.54
ENDEAVOURND-03           95.30     95.95                   1.15                                    1.91            1.094              48.91                             2.20
ENDEAVOURND-03           96.45     96.90                   0.45                                    1.50            0.300              72.00                             0.68
ENDEAVOURND-03           99.80   100.60                   0.80                                    0.63            0.300              20.00                             0.51
ENDEAVOURND-03         128.75   129.35                   0.60                                    2.42            1.770              39.00                             1.45
ENDEAVOURND-05           68.30     69.00                   0.70                                    1.38            0.510              52.00                             0.96
ENDEAVOURND-05           71.00     72.00                   1.00                                    0.52            0.200              19.00                             0.52
ENDEAVOURND-11         105.50   106.15                   2.20                                    3.34            1.294            122.75                             7.35
ENDEAVOURND-11         195.25   195.90                   0.65                                    0.86            0.390              28.00                             0.56

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Mirasol Announces the Start of Drilling at Gorbea Project and Provides an Exploration Update

View PDF VANCOUVER, BC, May 8, 2019 — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK:...
8th May 19
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Mirasol Reports on Nico Drilling Results

View PDF VANCOUVER, BC, March 4, 2019 — Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK:...
4th Mar 19

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Mineralized Breccia

Locally Altered Rhyolitic Flow Dome

Chalcedonic Veinlets

Chalcedoinic Veinlets

Nico vista

Saccharoidal Breccia

Hydrothermal Breccia

Outcropping Vein Breccia

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