Mirasol Resources (TSXV:MRZ) announced inconclusive results from their preliminary drill program at their wholly-owned Sobek Copper-Gold Project located in the Vicuña District of Chile. The drilling was halted before reaching the desired targets due to early winter weather in the high Andes.

This drill program began late in the drilling season following the completion of road construction which facilitated drill rig access. The drilling will continue and targets will be tested again in the fourth quarter of 2023. The Sobek Project was of interest to Mirasol because of its promising local geology. Notably, it is situated near the 2021 discovery of the high-grade feeder zone at the Filo del Sol gold-copper deposit and NGEx Minerals discovery at Lunahuasi.

Mirasol’s President, Tim Heenan, commented in a press release: “Mirasol is the only junior exploration company actively drilling in the middle of the high-profile Vicuña Copper-Gold district in northeast Chile where extraordinary discoveries continue to be made. In the interest of safety, our maiden drill campaign was suspended due to the onset of winter weather before we could adequately test our first targets. However, these early results have provided some important structural data which will help to refine our drill plans. We have only just started to scratch the surface at Sobek and high-priority targets of massive scale remain to be drill tested. We are excited to resume drilling in just a couple of months as soon as the weather allows for access.”

Sobek Central Details

The Sobek Central’s initial two drill holes sought to test high-priority targets. However, the drilling was inconclusive. Drill hole SB-DDH-001, which intended to explore the source of surface soil grid anomalies around the Central Breccia Zone, was stopped at a depth of 352m due to a structural fault zone. Similarly, for safety concerns, drilling of hole SB-DDH-002 was halted at 586m without hitting its target. The drilling strategy will be reassessed based on these initial outcomes.

Construction of the drill access road is set to recommence in Q4 2023, ensuring better access to all Sobek Central targets.

Exploration of VN-Zone and Other Sites

Late-season prospecting revealed high gold grades in the VN-Zone. Promising samples displayed results up to 5.0 g/t gold and 2,200 ppm copper. Plans are underway to evaluate the best locations and orientations for drilling this significant anomaly.

Additionally, a new mineral occurrence was identified near the VN-Zone, known as the VN-Zone North, yielding promising gold results. Exploration is also planned for the Sobek North Block, specifically the El Potro Zone.

Mirasol Resources anticipates resuming their maiden drill campaign in the fourth quarter of 2023, with an additional 3,400m of drilling scheduled to further explore priority targets at Sobek Central and Sobek North.

Highlights from the results are as follows:

• Sobek is located 7 km directly west of Filo Mining’s Filo del Sol Project and 3 km from NGEx´s new discovery at Lunahuasi
• Initial drill campaign cut short with only two targets partially tested, both require follow-up drilling
• Several compelling high-priority drill targets remain to be tested outlined by the Airborne Mobile MT survey coincident with geochemical anomalies and select high-grade surface samples
• Drill program to resume in early October when spring weather returns
• Planning for 3,400 meters of drilling distributed between Sobek Central and Sobek North (El Potro)

Mirasol Resources (TSXV:MRZ) has reported that the 2022/23 exploration program at the Sobek Copper-Gold Project in the Vicuña Copper-Gold-Silver District of Chile has seen significant progress. The company, which owns 100% of Sobek, announced the completion of an airborne Mobile MT survey and the initiation of the first drilling program at the site.

The initial decision to stake Sobek was based on the local structural architecture’s potential, which proved promising when high-grade feeder zones were discovered at the Filo del Sol gold-copper deposit 7 km to the east and NGEx Minerals discovery at Potro Cliffs 3 km to the east in 2021.

The Sobek project, staked in 2016, is located in an area known for its geological potential. Covering a massive 11,120 hectares in three strategic locations within the Vicuña District, Sobek is surrounded by numerous deposits including Filo del Sol, Potro Cliffs, the Josemaria copper-gold project, Los Helados Porphyry, and the massive El Morro Porphyry copper-gold deposit.

“The potential for discovery at the high-profile Vicuña Copper-Gold district has motivated us to advance Sobek from initial boots-on-the-ground exploration to the maiden drill campaign at an extraordinary pace. We will maintain this momentum and plan to continue drilling as soon as the weather allows for access in just a few months,” Mirasol’s President Tim Heenan stated. “The recently completed airborne Mobile MT survey returned multiple compelling geophysical responses coincident with geochemical anomalies and encouraging geological observations with clear evidence of advanced stage hydrothermal activity and alteration. Impressive precious and base metals results, including new multi-gram gold results from select rock grab samples at both the Sobek Central VN-Zone and Sobek North El Potro Zone elevate the importance of both target areas which will be prioritized when drilling resumes.”

The successful completion of a 500-line km Airborne Mobile MT survey, which covered the entire Sobek Central area, has provided high-definition depth penetration to over 800m below surface. This method has previously proven effective in identifying targets in high-sulfidation epithermal (HSE) and porphyry systems elsewhere in Chile. The survey pinpointed a remarkable cluster of MT anomalies in areas adjacent to the Central Breccia zone, which are thought to represent intrusive centers. The initial focus of the maiden drill campaign was these MT targets at Sobek Central.

The inaugural drill campaign at Sobek Central was initiated based on the results of the Mobile MT survey, geochemical soil anomalies, and select surface rock chip results. Two holes were drilled with depths of 352m and 586m respectively before winter weather conditions forced a halt. Additional drilling will be needed for both targets, with the VN-Zone targeted as a priority once drilling resumes later in the year.

Prospecting results from the VN-Zone at Sobek Central have continued to show high gold grades, with up to 5.0 g/t gold and 2200 ppm copper found in recent samples. Furthermore, new mineralized veins were exposed near the VN-Zone, with samples containing up to 1.37 g/t gold and 663 ppm copper.

At the El Potro East Zone of Sobek North, mineralization has been extended to the east and is now within 3 km of NGEx’s recent discovery at the Potro Cliffs project in Argentina. The zone appears to host an area of “lithocap type” alteration and mineralization, and select rock chip samples have returned values ranging from 0.10 to a high of 4.3 g/t gold with associated silver from 0.30 up to– 25.9 g/t.

This successful exploration program continues to highlight the potential of the Sobek project and its potential to contribute significantly to Mirasol Resources’ future success. The company looks forward to resuming the drilling campaign in the coming months.

Highlights from the update are as follows:

• Sobek is located 7 km directly west of Filo Mining’s Filo del Sol Project and 3 km from NGEx´s new discovery at Potro Cliffs
• 500-line kilometer Airborne Mobile MT geophysical survey completed over Sobek Central and Sobek North
• Compelling high-priority drill targets outlined by the Airborne Mobile MT survey coincident with geochemical anomalies and select high-grade surface samples
• Maiden drill campaign advances, testing first of several priority targets – two holes for a total of almost 950m completed

Table 1: Updated Anomalous Gold in Select Rock Samples from the VN Zone

Table 2: Updated Sobek North – El Potro East Select Rock Chip Grab Sample Geochemical Results

Table 3: Updated Sobek North – El Potro West Select Rock Chip Grab Sample Geochemical Results