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Last $0.63 USD
Change Today 0.00 / 0.00%
Volume 0.0
MRZLF On Other Exchanges
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Venture
OTC US
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As of 8:10 PM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

mirasol resources ltd (MRZLF) Snapshot

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Previous Close
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Day High
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Day Low
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52 Week High
08/13/14 - $1.26
52 Week Low
07/22/15 - $0.63
Market Cap
28.0M
Average Volume 10 Days
2.6K
EPS TTM
--
Shares Outstanding
44.2M
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Current Stock Chart for MIRASOL RESOURCES LTD (MRZLF)

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mirasol resources ltd (MRZLF) Details

Mirasol Resources Ltd., an exploration stage company, focuses on the discovery, acquisition, and exploration of precious and base metals deposits in Argentina and Chile. It holds a 100% interest in the Rubi copper-gold porphyry property located in central Chile; and Titan and Atlas projects located in Chile. The company also owns 100% interests in 7 exploration projects and 12 early-stage precious metals prospects in Santa Cruz Province, Southern Argentina. Mirasol Resources Ltd. was founded in 2003 and is based in Vancouver, Canada.

mirasol resources ltd (MRZLF) Top Compensated Officers

Co-Founder, Chief Executive Officer, Presiden...
Total Annual Compensation: C$231.8K
Co-Founder and Consultant
Total Annual Compensation: C$200.1K
Chief Financial officer
Total Annual Compensation: --
Exploration Manager and Director
Total Annual Compensation: C$161.9K
Compensation as of Fiscal Year 2014.

mirasol resources ltd (MRZLF) Key Developments

Mirasol Provides Exploration Update on the Gorbea Belt JV and New IP Geophysical Program at Atlas

Mirasol Resources provided an exploration update on its Gorbea Belt projects where the company has recently announced a joint venture. The mild winter conditions have led Mirasol's JV partner to complete a 65 line-km, deep-penetrating IP geophysical survey over a portion of the Atlas high-sulphidation epithermal gold-silver system. Preliminary analysis of the IP data highlights large resistivity anomalies coincident with known gold-silver prospects, and outlines new anomalies that represent new exploration targets. The capacity of the Gorbea exploration camp has been doubled ahead of the planned southern hemisphere spring/summer aggressive exploration program. The Gorbea exploration camp is now secured for the winter months, with a planned restart during September - October 2015. The new IP survey completed by the JV partner covers approximately 24 sq. km of the Atlas gold system, and is comprised of 3 to 7 km long, 400 m spaced lines with dipoles on 150 m spacing. The configuration of this IP survey effectively maps a large part of the Atlas mineral system and penetrates to depths exceeding 400 m, deeper than previous Mirasol IP, providing a system scale overview for drill hole targeting. This geophysical survey will be further extended and infilled over key target areas in the springtime (September-October 2015). The expanded survey is planned to cover mineralization previously identified by Mirasol, including the northern extension of the Atlas Gold Zone, the Escondida high grade silver target area, and the southern flanks of the Dos Hermanas (syn and post mineral) flow domes which may conceal additional exploration targets. Final processing and interpretation of this new data by the JV partner is in progress. Review of preliminary processed data by Mirasol in cross section and plan reveals a set of large geophysical anomalies which are in a number of cases spatially coincident with priority prospects defined by Mirasol, and in other cases outline new potential targets. This includes resistivity anomalies (+1000 ohm/m) over 2 km in length which extend the Oculto and Pampa Zone targets. Resistivity anomalies in high-sulphidation epithermal systems elsewhere in the Miocene-aged mineral belt of Chile have indicated the presence of hydrothermal silica that can be associated with precious metal mineralization. Large chargeable features were also noted to underlie the main prospect areas in the Atlas IP survey, suggesting that sulphide bearing mineralization may be present at depth. The IP survey data can also be used to estimate the potential depth of oxidation at Atlas that in some areas is interpreted to be in excess of 150 to 200 m. This relatively deep oxidation profile is an encouraging characteristic, suggesting the potential for discovery of oxide gold mineralization which may be amenable to cost-effective bulk-minable dump-leach methods. Over the July to September winter months the recent geophysical data will be integrated with Mirasol's previous exploration data by the JV partner to plan the 2015 spring and summer exploration program. This program will include drilling at Atlas and Titan, as prescribed under the terms of the Gorbea JV, which requires a minimum combined total of 3,000 m drilling at the Atlas and Titan projects by the 1st year anniversary of the JV (May 9, 2016).

Mirasol Resources Ltd. Expands large Curahue Gold Silver Vein system, Santa Cruz, Argentina, with New Trenching Assays and Geophysical Results

Mirasol Resources Ltd. announced exploration results that further expand the Curahue gold - silver vein prospect at the 100% owned Claudia Project, located adjacent to the large AngloGold Ashanti Cerro Vanguardia gold mine. Recent exploration at the Curahue prospect has defined a large-scale, epithermal gold -silver vein system, developed over a 15 km strike length with 6 vein trends outlined to date. Trenching through gravel covered resistivity anomalies at the "Io" Trend has exposed intermittent, broad zones of veining over a 2 km strike length, with individual channel sample assays ranging up to 5.9 g/t Au and 120 g/t Ag. At the new "Sinope" Trend, a 61 line-km gradient array geophysical survey has outlined 3.5 km strike-length of resistivity anomalies in gravel covered areas, suggesting the presence of additional, potentially mineralized, large veins. At the new "Themisto" Trend, rock chip sampling has returned assay results of up to 0.49 g/t Au and 282 g/t Ag from chalcedonic veinlets associated with a 3.5 km long gradient array resistivity anomaly, also suggesting the presence of gravel covered veins at this trend. The Curahue prospect represents a large-scale undrilled epithermal gold - silver prospect located approximately 10 km south of the Cerro Vanguardia mine pits. The Curahue vein system remained unrecognized until 2011 largely due to an aerially extensive, thin (estimated 1 to 6 m thickness) post-mineral gravel cover that conceals the majority of the prospect. To date 28 trenches have been excavated at Io; 21 of these have penetrated the 4 to 5 m thick gravel cover to reveal the underlying epithermal Au+Ag bearing vein zone. In many cases the trenching successfully revealed sub-outcropping veining hosted by altered volcanic wall rock which Mirasol systematically saw-cut channel sampled. However in number of cases, vein blocks encountered during trenching were too large to be lifted free of the trench by the excavator to expose the underlying bedrock. In these situations where Mirasol geologists were confident that these vein blocks approximated in situ outcrop, the vein blocks were mapped as "subcrop" and also channel sampled. Trench sampling at the Io Trend is presented as channel samples intervals, with corresponding assays giving an indication of the potential Au+Ag grade and width of the vein zones. The Io Trend contains individual veins up to 2.9 m wide, in vein and veinlet zones that may locally exceed 25 to 30 m width. Channel sample results range up to 5.86 g/t Au and 120 g/t Ag and demonstrate the presence of alarge-scale epithermal Au+Ag vein zone over a 2 km strike length. A 61 line-km (100 m line spacing, 50 m dipole) gradient array geophysics grid was surveyed over an area directly to the south of the Io Trend extending the previously reported large Curahue gradient array grid. This new survey has outlined two large gravel covered resistive anomalies totaling 3.5 km in length, defining the new Sinope Trend. Late gravels conceal all outcrop in the area. Trenching and/or shallow "scout" drill testing will be required to determine the source of these resistivity anomalies; however given the similarity to the adjacent Io Trend resistive anomalies, confidence is high that these represent additional large vein trends. At the new Themisto Trend on the south east end of the Curahue vein system, reconnaissance rock chip sampling has returned anomalous assays of up to 0.49 g/t Au and 282 g/t Ag from chalcedonic iron-oxide stained fracture zones and high level breccia structures. Mapping of this zone shows the host rock to be the upper portions of the Chon Aike rhyolite and the overlying Matilda tuff, with local carbonaceous shale intercalations suggesting a syn-mineral hot spring, lacustrine environment at the time of deposition, a geological setting typical of the top of preserved, mineralized epithermal systems. The geological setting and the chalcedonic nature of the silica associated with the Au+Ag anomalous rock chip samples suggests the potential for improved Au+Ag grades at depth. Reconnaissance level 500 m spaced gradient array lines were surveyed over the Themisto Trend and outlined a 3 km long open-ended resistivity anomaly. The Themisto Trend gradient array lines require an in-fill survey to better define the nature of these geophysical anomalies; however exploration to date suggests the presence of a large, covered, Au+Ag vein zone.

Mirasol Provides an Update on the Joint Venture Agreement for the Gorbea Belt Gold-Silver Projects

Mirasol Resources Ltd. announce Yamana Gold, Inc. has completed due diligence within the 45 day review period, and has elected to proceed with the previously announced joint venture agreement granting Yamana up to a 75% interest in the Gorbea Belt Projects. In addition, planned exploration activities under the Agreement at the Atlas and Titan projects have commenced. As per the Agreement, the first earn-in option includes committed expenditures of $2,000,000 by the first anniversary of which not less than $1,200,000 must be spent at the Atlas project and $600,000 at the Titan project. The first-year program includes an exploration commitment of electrical ground-based geophysical surveys and 2,000 metres of drilling at the Project. In support of these commitments, an exploration program has commenced that includes an extensive program of up to 76 line-km of pole-di-pole IP geophysics at the Atlas project, and systematic surface sampling of the oxide gold target at the Titan project. Weather permitting, the planned exploration will be completed prior to the onset of the southern hemisphere winter 2015 (June to July). The results of this work will be used to prepare the preliminary drill program planned for the 2015 Chilean spring (September /October) exploration season.

 

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