Mirasol signs agreement for Zeus Gold Project in Chile
Tuesday, Feb 27, 2018
Mirasol Resources Ltd. has announced that it has signed a binding letter agreement  for the Company's 18,480 ha Zeus High-Sulfidation Epithermal (HSE) gold project in Chile, with Newcrest International Pty Limited, a wholly owned subsidiary of Newcrest Mining Limited (ASX: NCM).  NCM has the right to acquire, in multiple stages, up to 80% of the Zeus Project by completing a series of exploration and development milestones and making staged option payments to Mirasol of US$1 million.  NCM will spend a minimum of US$1.5 million at Zeus over an initial 18-month period, and has also agreed to fund costs arising from an option to purchase agreement (see new release January 16th 2018) entered into by Mirasol with the underlying owner of a 2,500 ha portion of 3rd party claims at Zeus.

Stephen Nano, CEO of Mirasol, stated that "we are very pleased to be partnering with Newcrest to explore and advance Zeus.  This is Newcrest's second farm in agreement with Mirasol within six-months, which along with Mirasol's existing Altazor Agreement with Newcrest, and the Yamana Gold Gorbea JV, establishes the Company as a leading explorer in the prospective Mio-Pliocene gold and copper belt of Chile.  Mirasol's ability to work quickly with Newcrest to reach this Agreement will now allow us to advance a large-scope surface geological exploration and geophysical program over the next 3 months, in preparation for a planned drilling campaign at Zeus during October / November 2018."   This program will comprise gridded and systematic soil sampling, CoreScan alteration mapping, along with detailed geological mapping, ground magnetic and electrical geophysical surveys.

The Zeus Project

Zeus is a large area HSE prospect owned and controlled by Mirasol.  It is located in an underexplored region of the prolifically mineralized Mio-Pliocene age mineral belt of Northern Chile, which Mirasol believes to be prospective for the discovery of new world-class size Au+Ag deposits, as exemplified by the recent discoveries by Gold Fields of the 3.8 Moz Au Salares Norte[3], and the Barrick Gold 6.8 Moz Au Alturas[4] HSE gold deposits.

Mirasol's Zeus projects hosts two presently recognized breccia gold targets:  Artemisa and Apollo.

Artemisa:  Mirasol's exploration has outlined an 800m diameter breccia which hosts advanced argillic alteration where preliminary reconnaissance-level soil sampling has defined a low-level coincident Au+Ag+As+Cu+Pb+Sb+Mo geochemical anomaly, which overlies the edge of the area of mappable breccia body.

Apollo:  Comprises a 0.6 x 1.2 km wide crescent-shaped zone of advanced argillic and intermediate argillic alteration overprinted on pyroclastic breccias and volcanoclastic sediments which outcrop in an erosional window through post-mineral (late) lava flows.  This alteration is interpreted by Mirasol's geologists to be hosted by a poorly exposed phreatomagmatic breccia and flow-dome complex.  Mirasol has undertaken initial mapping, the collection of 218 rock chip samples, and alteration modelling throughout the Apollo alteration window.  Assay results show wide-spread strongly anomalous Ag+As+Ba+Hg+Sb, with 38 of 218 samples returning gold assays in the range 0.1 to 1.28 g/t Au.

For more information, please visit: http://mirasolresources.com/

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