Mirasol Advances Titan Gold Project with Positive Geophysical Results
VANCOUVER, BC, March 1, 2013 — Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) is pleased to report on the results of a high-resolution ground magnetic and a pole-dipole electrical geophysical survey over its 100%-owned Titan gold project in northern Chile. These surveys highlight a number of large scale geophysical anomalies that support and extend the prospectivity of the Titan gold target (see news release January 21, 2013).
Mirasol has completed a 17.2 square kilometre high-resolution ground magnetic survey and a 26.6 line-kilometre pole-dipole (PDP) induced polarization (IP) electrical geophysical grid at the Titan gold project. Results from these ground geophysical surveys are consistent with the Company’s geological concept and model of an epithermal gold-bearing zone positioned over a postulated mineralized intrusion at depth. Such systems are known to host economic precious and base metals mineralization elsewhere in the area.
The processed magnetics outlines two distinct, but spatially related, magnetic features (Figure 1). The first is a large “magnetic quiet zone” with dimensions of approximately 3000 by 2000 metres. This feature encloses the area of known surface hydrothermal alteration at Titan and suggests the alteration system may extend to the west under shallow gravel cover. The second magnetic feature is a prominent 700 by 600 metre diameter, strongly magnetic anomaly (Figure 1). The Titan gold-in-trench signature forms a crescent-shaped zone which overlies the northern and western rim of the magnetic anomaly (Figure 2).
The processed cross-sections and 3-dimensional modelling of the PDP electrical geophysical survey (Figure 3and Figure 4) show an interpreted covered, highly resistive (1000 to +2000 ohm/m) triangular- shaped tabular anomaly, up to 150 metres thick, developed over an area of 1500 by 1400 metres. The source of the resistive zone does not crop out in the Titan trenches and thus the nature of the resistor is unknown. A plausible explanation for resistive values of this magnitude may be concentrations of silica. Based on the Company’s experience, Mirasol considers this to be a possible explanation for the resistive blanket at Titan and that this resistive anomaly represents a valid conceptual drill target for gold mineralization.
Titan geophysical interpretations show a large chargeable (10 to +20 mV/V) anomaly with dimensions of 1100 by 800 metres, which underlies the resistive blanket and encompasses the magnetic anomaly. The chargeable anomaly is over 250 metres thick, and extends beyond the depth of resolution of the PDP survey. Chargeable responses of this magnitude have been shown to be associated with sulphide mineralization. One explanation for the combined magnetic-chargeable character and the shape and scale of this anomaly at Titan may be a sulphide-bearing intrusive body at depth. This chargeable anomaly represents a valid conceptual drill target for copper-gold mineralization.
Mirasol’s management is pleased to have secured 100% ownership of the high-quality Titan prospect through its northern Chile generative program. Mirasol’s integrated team is responsible for the geophysical results and interpretation which Mirasol believes have substantially strengthened the understanding and prospectivity of the Titan project. Both the resistive and chargeable–magnetic geophysical anomalies, together with gold-in-trench surface anomalies, represent high-priority conceptual targets that merit drill-testing. Mirasol is in the process of constructing a camp to support exploration activities and will apply for permits to drill Titan in the future.
Stephen C. Nano, Vice President of Exploration for Mirasol, is the Qualified Person under NI 43-101 who has approved the technical content of this news release.
For further information, contact:
Mary L. Little
President and CEO
Tel: (604) 602-9989: Fax:(604) 609-9946
Quality Assurance/Quality Control:
Exploration of the Chile Miocene exploration program is supervised by Stephen C. Nano, Vice President of Exploration, who is the Qualified Person under NI 43-101. All technical information for the Company’s projects is obtained and reported under a formal quality assurance and quality control (QA/QC) program. All Drill Rock chip and stream sediment samples are collected under the supervision of Company geologists in accordance with standard industry practice. Samples are dispatched via commercial transport to an ISO 9001:2000-accredited laboratory in Chile for analysis. All rock chip and drill samples are submitted to the Laboratory with independently sourced, accredited standard and blanks and where appropriate duplicate samples to facilitate monitoring of laboratory performance. Certified Results are examined by an independent qualified consultant to ensure laboratory performance meets required standards.
Assay results from diamond drill core or RC drill samples may be higher, lower or similar to results obtained from surface samples.
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