Rubi

  • Property Type

    Porphyry Copper Project

    Size

    7,500 ha

    Status

    Available for Partnership

    Exploration Stage

    Pre-discovery
    Drilling, mapping, sampling, geophysics

    Location

    • Eocene-Oligocene age porphyry belt of northern Chile
    • Lies at relatively low elevation within 20 km of El Salvador and Portrerillos porphyry copper-molybdenum-gold mines
    • Year-round access
    • Adjacent townships with a trained mining workforce, nearby roads, power, water grid and an operating mill and smelter

    The Rubi Project is located within the Eocene-Oligocene age porphyry belt of northern Chile that hosts many world-class porphyry copper deposits.

    Rubi has a prospective geological setting centered on structural intersections with the Domeyko fault system, a through-going regional-scale structure, and the Ojos del Salado trans-orogen structure, interpreted to have influenced the emplacement of the nearby El Salvador and Potrerillos deposits.

  • Project Geology

    Mirasol has completed field evaluation and targeting programs at Rubi identifying three large-scale copper, molybdenum and gold targets at the Lithocap and Zafiro prospects.

    Lithocap

    The Rubi Lithocap (“Lithocap”) target covers a 3.5 km by 2.0 km area centred on a large, deeply weathered, advanced argillic alteration zone, surrounded by thin gravel cover. Geochemically barren lithocap alteration zones of the type seen at Rubi can form above or adjacent to large porphyry copper deposits.

    At Lithocap, previous explorers have drilled peripheral to, but not beneath or adjacent to the post-mineral gravel covered western edge of the anomaly. New Mirasol mapping and re-logging of previous drill holes has defined veining and brecciation with anomalous copper and molybdenum mineralization and alteration patterns that vector toward potentially concealed porphyry mineralization to the north and north-west of the previous drill holes.

    This pattern suggests the presence of a deep weathering profile overlying a buried source of the chargeability anomaly, which may indicate the presence of sulfides in the unoxidized basement rocks. This type of deep weathering in porphyry environments in northern Chile is often conducive for the development of supergene enriched copper mineralization akin to the nearby El Salvador mining district.

    Zafiro

    The Zafiro prospect features a 2.8 km by 2.2 km gravel covered area characterized by a subtle circular magnetic high surrounded by an incomplete, doughnut-shaped magnetic low. This magnetic signature may be indicative of a large gravel-covered intrusive with an alteration halo. The gravel cover in this area ranges from approximately 25 m to more than 200 m in thickness concealing the central target area. However, a large canyon 1 km to the north of the target cuts through the gravel profile exposing the basement rock. Mirasol’s stream sediment sampling of gullies that traverse this area have returned widespread strongly anomalous copper up to 1,030 ppm (0.1%), suggesting either an “exotic” source of copper in the gravels and/or a primary porphyry source for the copper in the gravel-covered basement of the Zafiro prospect.

    High grade “exotic” copper or a supergene enriched porphyry are both attractive exploration targets at the Zafiro prospect. Significant ore bodies of these types of mineralization occur at the nearby El Salvador mining district.

    Exploration Work

    Between 2007 and 2012, Mirasol has completed reconnaissance exploration including stream and rock geochemical sampling, regional mapping and PIMA analysis of the prospect area. The exploration work enabled Mirasol to identify the initial Lithocap prospect. 

    Under a partnership with Mirasol, First Quantum Minerals (FQM) completed multiple exploration programs between 2013 and 2015 to further explore Rubi project. The programs include a 2,460 line-km, detailed, low-altitude, helicopter-borne magnetic (helimag) survey covering the entire Rubi project, property-wide geological mapping and rock chip sampling, and orientation soil sampling was also completed at the Lithocap prospect. A 6,054 m, 16-hole combined reverse-circulation and diamond drill program predominantly focused in the Lithocap area was also completed in 2015.

    In 2017, Mirasol consolidated its claims holdings at Rubi and completed field evaluation and targeting programs that refined three large-scale Cu-Mo-Au targets at the Lithocap and Zafiro prospects. The targets were defined by integrated analysis, including re-logging of drill holes and the re-interpretation of geophysics and geochemistry from previous partner exploration work at Rubi.

  • July 24, 2017
    Mirasol Resources Defines Three Porphyry Copper Targets at 100% Owned Rubi Project, Northern Chile

    April 2, 2015
    Mirasol reports that First Quantum Minerals has relinquished its option over the Rubi project in Northern Chile

    November 10, 2014
    Mirasol reports geophysical results and the start of drilling at the Rubi JV with First Quantum in northern Chile

    September 3, 2014
    Mirasol provides exploration update on Rubi copper-gold porphyry JV with First Quantum Minerals in Northern Chile

    August 27, 2014
    Mirasol and First Quantum Minerals sign Definitive Exploration Option and Joint Venture Agreement for the Rubi Property, Chile

    February 24, 2014
    Mirasol Provides Update on Aggressive Exploration Program on the Rubi copper-gold JV Project in Northern Chile

    September 18, 2013
    Mirasol Options the Rubi Copper Property to First Quantum Minerals Ltd.

    November 26, 2012
    Mirasol Advances the Rubi Copper-Molybdenum-Gold Project in Chile

    June 12, 2007
    Mirasol Secures 100%-owned Copper-Gold Prospect in Northern Chile

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