Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) (FRA:M8R) has completed a maiden drill program at the Inca Gold project in Chile, a large 16,300-hectare property package Mirasol has optioned from Newmont Corporation (TSE:NGT) (NYSE:NMT).
Inside the Inca project, the Sandra prospect was targeted with a 1,417-meter (m) drill program. In total, eight diamond drill holes were completed on three separate targets to test for mineralization below outcropping quartz veins.
With the maiden drill program now complete at Sandra, South America-focused Mirasol has fulfilled the minimum drilling commitment and exploration expenditures required for the first two years under the option agreement with Newmont.
READ: Mirasol Resources initiates 2,000-meter drill program at Rubi Copper project in Chile
Mirasol now has until January 2023 to evaluate the other prospects at Inca Gold.
“Inca Gold is a prospective project with several untested zones, currently being evaluated. Our recent reviews of the Caldera prospect, located south of Sandra, have delineated a promising new polymetallic epithermal vein, outcropping and subcropping over a strike length of 3km,” Tim Heenan, president of Mirasol said in a statement.
Heenan continued: “In addition, we are planning initial surface exploration at other porphyry and breccia Cu/Au prospects located north of Sandra, taking advantage of the low altitude and accessibility of the project. A detailed review of all the data gathered to date at Sandra is ongoing to make a decision on the next steps in this prospect.”
The maiden drill registered the highest values from hole IG-DD-004, which returned 0.27 grams per ton (g/t) gold and 47.8 g/t silver over 0.5m. A review of the geochemical results and alteration indicators is underway to assess if further drilling is warranted at the remaining untested Sandra targets.
The precious metal’s explorer is also engaged in reconnaissance mapping and geochemical sample surveying at the Caldera prospect, which is located immediately south of Sandra.
Initial survey work has identified a promising mineralized polymetallic intermediate epithermal quartz vein structure outcropping over 1.3km, with widths ranging up to 1.2m.
Two additional prospects, Vania and Rincon, located to the north of Sandra are also under evaluation and have potential for porphyry and breccia-related copper and gold mineralization.
Aside from the Inca property, Mirasol has several partnership projects in Chile and Argentina, including the Sacha Marcelina property in Argentina, where the company is self-funding exploration.
Contact the writer at georgia@proactiveinvestors.com
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