Zeus

  • Property Type

    HSE Gold Project

    Size

    18,600 ha (2,500 ha controlled by Mirasol via a 5-year option to purchase agreement)

    Status

    Available for Partnership

    Exploration Stage

    Pre-drillinng
    Rock chip assay sampling, soil survey, geological mapping, Geophysical survey (CSAMT)

    Location

    • Mio-Pliocene age mineral belt in northern Chile
    • 40 km ESE of the multi million-ounce Salares Norte HSE discovery by Gold Fields
    • Located in undulating high-altitude terrain with drive-up access to targets via gravel roads and tracks

    Zeus is a high sulfidation epithermal (HSE) gold project covering 18,600 ha located 75 km southeast of Mirasol’s Gorbea project and 40 km east of Goldfields’ HSE Salares Norte project in northern Chile. It is set in an undulating high-altitude terrain with drive-up access to targets via gravel roads and tracks. Mirasol is targeting large-scale bulk-mineable HSE gold mineralization at Zeus.

    In 2018, Mirasol partnered with Newcrest Mining and completed a detailed surface exploration program at the project, which however remains undrilled.

  • There are two large breccia-hosted gold targets at Artemisa and Apollo.

    Artemisa

    An 800 m diameter advanced argillic altered breccia was outlined, and the reconnaissance level soil sampling has defined a low-level coincident Au, Ag, As, Cu, Pb, Sb, Mo anomaly, which overlies the edge of the mapped breccia body. The level of the geochemistry anomaly is similar to that seen at surface overlying the Salares Norte orebody1; at Artemisa this may represent geochemical leakage from a concealed zone of mineralization at depth.

    Apollo

    The work program focussed on defining drill targets within the intense Intermediate Argillic alteration system (Illite-Kaolinite) that outcrops in a window through volcanic cover and its extension under cover. Within this zone, two breccia bodies were mapped which are spatially associated with the margins of an altered andesite dome. Strong jarosite-gypsum alteration within the breccias is interpreted to be the result of a later stage high sulfidation Au+Ag mineralized system. In a 280 x 330 m hydrothermal breccia in the northeast of the window, rock chip samples have returned assays up to 2.01 g/t Au and 17.45 g/t Ag; as well as strongly elevated As (up to 1,430 ppm), and Sb (up to 3,290 ppm). To the southwest, a 278 m x 220 m phreatic breccia was mapped in outcrop to the edge of the cover and has had limited sampling to date.

    The CSAMT survey has also defined a large, open and moderately conductive zone spatially coincident with the outcropping intermediate argillic altered breccias and dome. This zone extends at least 500 m undercover and is open to the southeast and the northwest. Strong pipe-like conductors are observed 50 m below the surface within the intermediate argillic zone potentially representing Maricunga porphyry style mineralisation. Further geophysics (magnetics and IP) are required to confirm the potential for this style of mineralisation in Apollo. In addition, a 660 m by 350 m by 195 m thick zone of resistivity north of the breccias and 100 m below the surface is associated with the down dip covered extension of the silica alunite zone. This body has similar resistivities to those associated with silica bodies in other high sulfidation systems. These CSAMT geophysical anomalies are coincident with strong intermediate argillic and advanced argillic alteration on the surface and define attractive drill targets that remain untested.

    Exploration Work

    2017-2018 Summer Campaign Funded by Newcrest

    The campaign focused on the two primary prospects, Apollo and Artemisa.

    • A 36.3 km2 soil survey, prospect scale geological mapping,
    • Rock chip geochemical sampling (that notably returned up to 2.01 g/t Au and 17.45 g/t Ag in separate samples at Apollo),
    • Corescan alteration analysis of soils, and
    • CSAMT resistivity geophysics.

    Mirasol’s comprehensive analysis of results indicates that the geophysical anomalies outlined are coincident with the alteration on the surface and that they define attractive drill targets that remain to be tested.

    1 Azevedo, F., Brewer, N., Santos, A., Huete Verdugo, D., Baumgartner, R., Roncal, L., Trueman, A. & Foley, A. (2015). The discovery and geology of the Salares Norte epithermal gold-silver deposit, northern Chile. In NewGenGold 2015 (p145-157). Perth, Australia.
  • May 8, 2019
    Mirasol Announces the Start of Drilling at Gorbea Project and Provides an Exploration Update

    December 10, 2018
    Mirasol Signs a Heads of Agreement with Newcrest Mining for the Gorbea Gold Projects in Chile and Announces Termination of the Zeus Agreement

    April 24, 2018
    Mirasol Reports Start of US$ 750,000 Exploration Program at the Zeus Gold Project with Newcrest Mining

    February 26, 2018
    Mirasol Signs a Binding Letter Agreement with Newcrest Mining for a Joint Venture on the Zeus Gold Project in Chile

    January 16, 2018
    Mirasol Acquires Zeus High-Sulfidation Epithermal Gold Project Located in the Miocene Mineral Belt of Northern Chile

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