Precious Metals
Mirasol enters option agreement for Argentinean gold-silver project
Claudia is said to be a highly prospective gold-silver project, where Mirasol has been exploring since 2004.
The post Mirasol enters option agreement…
Mirasol Resources has entered an option agreement with Cerro Vanguardia SA Gold-Silver Mine (CVSA) to explore its Claudia gold-silver project in Argentina.
Located in Santa Cruz, the 65,192-hectare Claudia is claimed to be a highly prospective low-sulphidation epithermal (LSE) gold/silver project.
It sits next to CVSA Mine and five distinct prospective vein trends were identified at the project including the Curahue Vein Field and the Rio Seco Prospect.
Mirasol discovered the Curahue vein field in 2012, which is considered to be a southern parallel structure, similar to the controlling structures at the Cerro Vanguardia vein field.
Claudia also has two shallow paleo-surface expressions at Calandria and Rio Seco.
Both are attractive targets as any mineralised structure found beneath is claimed to be completely preserved and not reduced by erosion.
Mirasol Resources president Tim Heenan said: “The agreement with CVSA demonstrates the potential for continued discovery and resource development at Claudia.
“The 2% royalty has the potential to offer significant near-term value to Mirasol shareholders as resources defined at Claudia could be processed quickly and efficiently at the nearby Cerro Vanguardia mill.”
As part of the agreement, CVSA may undertake mapping and sampling, trenching and geophysics within the first two years as required by its discretion to develop drill targets.
However, it must fulfil a minimum drilling commitment of 2,500m diamond drilling and it will then have the option to grant Mirasol a 2% net smelter royalty (NSR) on future production from the project.
Mirasol originally staked the project back in 2004 as part of its Santa Cruz exploration programme.
It completed 19,000m of combined reverse circulation and diamond core drilling, more than 4,000 line-kilometres of ground magnetometry and several other tests at the site.
The post Mirasol enters option agreement for Argentinean gold-silver project appeared first on Mining Technology.
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