Porphyry and HSE Copper/Gold Project
Available for Partnership
Community Engagement - Pre-drilling
Coronación is a gold-copper property that occupies 1,200 hectares of the Mio-Pliocene age mineral belt and is 240 km east-south-east from Antofagasta in Chile.
The project is located on a major northwest structural trend that is associated with several Andean porphyry copper deposits. Exploration completed by Mirasol indicates the potential presence of a porphyry/breccia system intruding a layered Miocene aged volcanic sequence of pyroclastic units, that was subsequently intruded by domes of dacitic composition.
Two distinct areas of alteration have been interpreted with the assistance of Analytical Spectral Device (“ASD”) analysis. The eastern alteration area displays affinities to a HSE system, with the western area displaying a more typical porphyry deposit style of alteration. Geochemical rock and soil sampling has also defined a large 600 by 800m copper-molybdenum geochemical anomaly in the western area within the overall 3 by 2.5 km ASTER image hydrothermal alteration response halo (see news release October 7, 2019).
The initial exploration program in 2019, funded by First Quantum, included surface mapping, geochemical soil and rock chip sampling, induced polarization (“IP”) and ground based magnetic geophysical surveys (“Mag”) and the collection of rock samples for age-dating. This work outlined an attractive porphyry copper target that displays characteristics similar to other Miocene age porphyry gold-copper systems in the highly productive Maricunga belt.
In order to facility access to Coronacion, Mirasol will be resuming engagement with the local community. Subject to progress with the community engagement, plans will be developed for a drill program.
In late 2019, FQM completed an initial exploration program that included surface mapping, geochemical sampling, geophysical surveys and the collection of samples for age-dating. This work has outlined an attractive porphyry Cu target that displays characteristics similar to other Miocene age porphyry Au-(Cu) systems in the highly productive Maricunga belt.
Through its reconnaissance program in 2018/2019, Mirasol sampled and identified two key target areas (Stockwork Zone and Vein Zone) at the project. Work completed over 2 campaigns included:
Mirasol believes that the results of this work indicate the potential presence of a porphyry/breccia system intruding a layered Miocene aged volcanic sequence of dacitic domes and pyroclastic units. The alteration consists of the following:
Alteration signatures have been interpreted using ASD spectral analysis, and the geochemistry data is supportive of these interpretations. Geochemical sampling has defined a large 600 by 800 m Cu-Mo geochemical anomaly on the western side within the overall 3 by 2.5 km alteration halo.
Mineralization occurs as sheets and stockworks of banded quartz veins with up to three phases of silica emplacement recognized. Relic sulfide boxworks within the veins and wall rocks contain iron oxides (hematite-goethite and jarosite), with secondary copper and manganese oxides occurring along (or lining) fractures.
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