20265 releases
Mirasol Provides Exploration Update on Sobek Copper-Gold Project in the Vicuña District, Chile
The exploration season is complete at the 100%-owned Sobek copper-gold-silver project in Chile's Vicuña District, 7 km west of Filo del Sol and 3 km southwest of NGEx's Lunahuasi. Second drill hole S46-DDH-002, collared 300 m south of S46-DDH-001 at the 46 South target, returned anomalous intervals including 4.50 m at 0.07 g/t gold, 223 ppm copper and 22 ppm molybdenum from 21.50 m, and 3.72 m at 0.16 g/t gold from 116.80 m. Reinterpreted IP-PDP geophysics has elevated the VN-Zone to a high-priority drill target.
Drill resultsMirasol Provides Exploration Update and Drill Results from Sobek Copper-Gold Project in the Vicuña District, Chile
Two drill holes were completed this season at the 46 South target on the south end of Sobek Central, at Mirasol's 100%-owned Sobek copper-gold-silver project 7 km west of Filo del Sol in Chile's Vicuña District. Hole S46-DDH-001, halted at 600 m, returned 15.82 m from 147.18 m averaging 158 ppm copper, 0.03 g/t gold and 1.57 g/t silver, and 7.20 m from 566.75 m averaging 720 ppm copper, with no intercepts above a 0.10% copper cut-off. Assays from a second hole 300 m south are pending.
Drill resultsMirasol Signs LOI for the Sale of the Rubi Copper Project for US$4 Million Plus 2% NSR Royalty
A binding letter of intent grants San Lorenzo Gold Corp. an exclusive option to acquire Mirasol's 100%-owned Rubi Copper Project in northern Chile for total consideration of US$4 million, staged through options to 70% (US$1.6 million over three years plus exploration expenditures), 85% (US$1.75 million) and 100% (US$2.25 million). Mirasol retains a 2% NSR royalty, with San Lorenzo able to buy back 0.5% for US$2 million within twelve months of the third option and a further 0.5% for US$2 million within twelve months of commercial production. Mirasol's interest is fully carried to a decision to mine, and a definitive agreement is intended on or before March 31, 2026.
AcquisitionMirasol Signs Agreement for the Sale of a Portfolio of Copper Projects in Mendoza, Argentina
An Asset Purchase Agreement has been signed to sell 100% interest in fourteen grassroots copper porphyry exploration projects covering 89,070 hectares in Mendoza, Argentina, to Mises Metals S.A.S., a wholly-owned subsidiary of Argentina Metals Corp. Consideration is US$50,000 cash plus 1.3 million Argentina Metals shares, payable as 433,333 on closing, 433,333 on registration of the property transfers, and 433,334 at the earlier of one year from closing or a Canadian exchange listing. If the public listing does not occur within one year of closing, the properties return to Mirasol in exchange for the shares and half the cash.
AcquisitionDrilling Underway at Mirasol’s Sobek Copper-Gold Project in the Vicuña District, Chile
Drilling has begun at the 46 South target on the 100%-owned Sobek copper-gold-silver project in Chile's Vicuña District, about 7 km west of Filo del Sol and 3 km southwest of NGEx Minerals' Lunahuasi discovery. The maiden hole is planned to approximately 1,000 m depth, targeting a shallow coincident IP anomaly with strong MT-resistivity and chargeability responses starting around 200 m below surface and extending over 500 m, interpreted as a high sulphidation epithermal system above a magnetic anomaly.
Drill results
202514 releases
Mirasol Resources Closes Private Placement Financing
A non-brokered private placement closed with 6,689,445 units issued at $0.45 per unit for gross proceeds of $3,010,250.25, each unit comprising one common share and one-half warrant exercisable at $0.60 for twelve months from closing. Two directors and one officer subscribed for an aggregate 3,350,556 units, constituting a related party transaction under MI 61-101, and finders' fees of $13,932.00 were paid. Proceeds will fund exploration programs and general corporate purposes, with a four-month hold period.
FinancingMirasol Completes the Sale of the Sascha-Marcelina Projects in Argentina for US$1.5 Million Plus Royalty
The sale of the 100%-owned Sascha Project in Santa Cruz province, Argentina, to Andara Mining Pty Ltd, a subsidiary of Pursuit Minerals Ltd (ASX: PUR), has closed for total consideration of approximately US$1.5 million, with Mirasol also assigning its option to purchase agreement on the Marcelina Project. Mirasol retains a 1.5% NSR royalty, of which Pursuit may buy back 0.75% within two years of commercial production for US$1.5 million and the remaining 0.75% within three years for US$4 million. Proceeds funded a CAD$2 million repayment of a previously announced shareholder loan.
AcquisitionMirasol Announces Change in Chief Financial Officer
Francisco Del Castillo has assumed the role of Chief Financial Officer of Mirasol Resources effective December 1, 2025, following the retirement of Carmen Cazares, who had served as CFO since 2022 and previously as Corporate Controller. Del Castillo is a Chartered Professional Accountant with over 20 years of experience across Canada, Mexico and Latin America, holding Canadian and Mexican CA designations and an MBA. Mirasol is self-funding exploration at its Sobek Copper-Gold project in northeast Chile.
ManagementMirasol Launches Exploration Season at Sobek Copper-Gold Project in the Vicuña District, Chile
The 2025/26 exploration season is underway at the 100%-owned Sobek copper-gold-silver project in Chile's Vicuña District, with a ground-based Deep Vectoring IP and MT geophysical survey in progress to refine drill positioning at the 46 South target, located about 7 km west of Filo del Sol. Drilling is scheduled to begin in early January, with rigs and crews secured; the first hole will test shallow epithermal responses and deeper MT and magnetic anomalies interpreted as a possible porphyry roof zone.
Drill resultsMirasol Signs Definitive Agreement for the Sale of the Virginia Silver Project and Landholdings in Argentina for US$8 Million Plus 2% NSR Royalty
A definitive agreement has been signed with Ampere Metals Pty. Ltd. for the sale of the Virginia Silver Project and landholdings in Santa Cruz Province, Argentina, for total cash consideration of US$8.0 million over seven years of scheduled payments, structured as a US$4 million option for 51% over 3.5 years and a further US$4 million option for the remaining 49%. Mirasol retains a 2% NSR royalty, with the right to sell it to Ampere for US$2 million.
AcquisitionMirasol Resources Extends Closing Date of Offering
The deadline to complete Mirasol Resources' previously announced non-brokered private placement has been extended to December 16, 2025. The Offering, first announced October 2, 2025, is for up to 6,666,667 Units at $0.45 per Unit for aggregate gross proceeds of $3.0 million, with all other terms unchanged. Completion is subject to acceptance by the TSX Venture Exchange.
FinancingMirasol Resources Announces Private Placement Financing
A non-brokered private placement of up to 6,666,667 Units at $0.45 per Unit for gross proceeds of up to $3.0 million is being arranged, with each Unit comprising one common share and one-half warrant exercisable at $0.60 for twelve months from closing. Proceeds will fund expanded exploration programs and general corporate purposes. Finders' fees may be payable, and shares are subject to a four month hold period.
FinancingMirasol Signs Agreement for the Sale of the Sascha-Marcelina Projects in Argentina for US$1.5 Million Plus Royalty
A binding heads of agreement grants Andara Mining Pty Ltd the exclusive right to acquire Mirasol's 100%-owned Sascha Project in Santa Cruz province, Argentina, and assigns its option to purchase the adjacent Marcelina Project, for total consideration of US$1,500,000, subject to conditions on or before November 30, 2025. Mirasol retains a 1.5% NSR royalty, with buy-back rights of the first 0.75% for US$1,500,000 within two years of commercial production and the remaining 0.75% for US$4,000,000 within three years. Pursuit Minerals Ltd (ASX: PUR) has agreed to acquire 100% of Andara Mining.
AcquisitionMirasol Advances Large Untested Target Towards Drilling at the Flagship Sobek Copper-Gold Project in the Vicuña District, Chile
Soil sampling at the 46 South target on the 100%-owned Sobek copper-gold-silver project in Chile's Vicuña District has defined a coherent copper-gold-molybdenum anomaly measuring about 1.0 x 0.7 km, with maximum values of 275 ppm copper, 37 ppm molybdenum and 88 ppb gold, and rock chips up to ~1.0 g/t gold, 420 ppm copper and 508 ppm molybdenum. IP surveying showed chargeability increasing from ~150 m to >600 m and a resistive core exceeding 5,000 ohm-m. A Deep Vector IP and MT survey is planned for completion by mid-October, with drilling anticipated in early November.
Drill resultsMirasol Signs Agreement for the Sale of the Nord Projects in Chile for US$2.5 Million Plus Royalty
Option to Purchase Agreements have been signed granting Pampa Camarones SpA, through affiliate Eco Earth Elements SpA, the exclusive right to acquire Mirasol's 100%-owned Nord East and Nord West projects in Region II, Chile, for total consideration of US$2,556,536 (US$2,044,986 for Nord East and US$511,550 for Nord West) via scheduled payments over four years, starting with US$59,043 on signing and ending with US$1,300,000 in year four. Mirasol retains a 2% NSR on Nord East, buyable for US$3.0 million then US$6.0 million, and a 1% NSR on Nord West, buyable for US$1.0 million.
AcquisitionSecond Drill Hole at Potro SE Extends Polymetallic Mineralization at Mirasol’s Flagship Sobek Gold-Silver-Copper Project in the Vicuña District, Chile
The second drill hole (PSE-DDH-002) at the Potro SE target on the Sobek gold-silver-copper project in Chile's Vicuña District returned 0.90m at 15.02 g/t gold equivalent (0.24 g/t gold, 1,330 g/t silver, 0.68% zinc, 0.58% lead) and 17.65m at 0.22 g/t gold Eq, including 3.59m at 0.54 g/t gold Eq with 1.97% zinc; the hole reached 918m, about 80m deeper than the first. Mirasol also terminated its option agreement with Newmont affiliates on the Inca copper-gold project in Chile, and increased a shareholder loan from director John Tognetti to $3,000,000 at 10% interest, issuing 250,000 additional bonus shares for 750,000 in aggregate.
Drill resultsMirasol Signs MOU for the Sale of the Virginia Silver Project and Landholdings in Argentina for US$8 Million Plus 2% NSR Royalty
A memorandum of understanding grants Ampere Metals Pty. Ltd. an exclusive right to enter a definitive agreement to acquire Mirasol's 100%-owned Virginia Silver Project in Santa Cruz Province, Argentina, for US$8 million: US$5 million for about 68,000 hectares of mineral rights and US$3 million for about 37,000 hectares of landholdings and infrastructure, paid over five years across three milestones. Mirasol retains a 2% NSR royalty, which Ampere is obligated to buy for US$2 million if Mirasol elects to sell. Virginia hosts indicated resources of 11.7 million ounces at 357 g/t silver and inferred resources of 7.9 million ounces at 184 g/t silver.
AcquisitionMirasol Resources Announces Shareholder Loan Transaction
A $2,000,000 loan has been obtained from John Tognetti, a director and control person, bearing 10% annual interest, payable at the end of one year, repayable at any time without penalty and secured by a General Security Agreement, with proceeds mainly for arm's length creditors and general working capital. Mirasol issued 500,000 bonus common shares to Mr. Tognetti, valued at 10% of the loan principal and subject to a four month hold period. The related party transaction is exempt from formal valuation and minority approval under MI 61-101.
FinancingInitial Drill Results Prove Significant Polymetallic Mineralization at Mirasol's Flagship Sobek Gold-Copper Project in the Vicuña District, Chile
The maiden drill hole at the Potro SE target on Sobek North, part of the 100%-owned Sobek gold-copper project in Chile's Vicuña District, returned 17.4m (784.60–802.00m) at 0.682 g/t gold equivalent, including 3.00m at 2.39 g/t gold Eq (1.11 g/t gold, 111.00 g/t silver) with 1.98% zinc and 0.82% lead, plus 28.75m at 0.69% zinc and 0.28% lead. Hole DDH-PSE-001 ended at 838.4m in a porphyritic intrusion due to drilling conditions. A second hole 200m east is underway, targeting up to 1,000m depth over 4-5 weeks. At Sobek Central, a 2.5km access road to Sobek 46 South is complete and an IP survey is ongoing.
Drill results
202412 releases
Mirasol Resources Announces Annual Option Grants
1,586,250 incentive stock options have been granted to employees, officers, directors and consultants of Mirasol Resources Ltd. under the company's long-term incentive plan. The options are exercisable at $0.55 per common share for five years from the grant date, vesting 30% on grant and 35% on each of the six- and twelve-month anniversaries. The grants fall under the Stock Option Plan approved by shareholders on June 11, 2024.
CorporateMirasol Initiates Drill Program at Flagship Sobek Copper Project in Vicuña District, Chile
Diamond drilling has begun at the Potro SE target on the 100%-owned Sobek copper-gold project in Chile's Vicuña District, 3 km from NGEx's Lunahuasi discovery. The first hole is expected to reach the top of the target at 250-350 metres and continue to a total depth of 700-800 metres, with drilling taking 25-30 days. At Sobek Central, a 2.5-kilometre access road is under construction ahead of geophysics, soil sampling and a second drill phase at Sobek 46 South later this season.
Drill resultsMirasol Launches Exploration Season to Advance to Drilling at Sobek Copper-Gold Project in Vicuña District, Chile
The 2024/25 exploration season has begun at the 100%-owned Sobek copper-gold project in Chile's Vicuña District, with drilling equipment mobilizing to the Potro SE target at Sobek North, 3 km from NGEx's Lunahuasi discovery. Induced Polarization pole-dipole surveys to finalize drill collar placement have two 3-kilometre lines complete and a 2.6-kilometre line nearly done. At Sobek Central, a 2.5-kilometre access road is under construction ahead of geochemical sampling, geophysics and later-season drilling at the Sobek 46 South target.
Drill resultsMirasol Resources Closes Private Placement Financing
A non-brokered private placement closed with 11,335,132 Units issued at $0.45 per Unit for gross proceeds of $5,100,809.40. Each Unit includes one common share and one-half warrant exercisable at $0.60 for twelve months from closing; securities carry a four-month hold period and finders' fees were paid on a portion. Proceeds will fund exploration, including drilling, at the Sobek Project in Chile's Vicuña Copper-Gold-Silver District and general corporate purposes. Insiders took 2,317,222 Units.
FinancingMirasol Resources Increases Private Placement Financing
A previously announced non-brokered private placement has been increased from 6,666,666 units to 11,111,111 units at $0.45 per unit, raising aggregate gross proceeds of up to $5 million instead of $3 million. Proceeds will be used primarily to advance exploration at the Sobek copper-gold property in Chile, including drill testing priority targets. Other terms remain as announced September 25, 2024, with closing expected on or about October 25, 2024, subject to TSX Venture Exchange acceptance.
FinancingMirasol Resources Announces Private Placement Financing
A non-brokered private placement of up to 6,666,667 Units at $0.45 per Unit for aggregate gross proceeds of $3.0 million is being arranged, with each Unit comprising one common share and one-half warrant exercisable at $0.60 for twelve months from closing. Proceeds will fund expanded exploration programs and general corporate purposes. Shares carry a four month hold period, and closing is expected on or about October 25, 2024, subject to TSX.V approval.
FinancingMirasol Identifies New Porphyry Targets at the El Potro Prospect and also Extends the VN-Zone by more than 3 km at the Sobek Copper-Gold Project in Vicuña District, Chile
Two new porphyry target areas have been defined at the Sobek Copper-Gold Project in the Vicuña District of northeast Chile, with alteration and mineralization at the VN-Zone now extended at least 3 km south across the Rosita and newly staked Sobek 46 South claims. At the new Potro SE target at El Potro, grab samples returned up to 1.8% copper and 87 ppm molybdenum over a magnetic anomaly, with a coincident copper soil anomaly. Additional IP lines are planned, with drilling to begin in the fourth quarter of 2024.
Drill resultsMirasol Resources Closes First Tranche of Private Placement
The first tranche of a non-brokered private placement closed with 3,887,552 Units issued at $0.60 per Unit for gross proceeds of $2,332,531.20, each Unit comprising one common share and one-half warrant exercisable at $0.80 for twelve months from closing. Proceeds will fund exploration, including drilling, at the Company's flagship assets in Chile and Argentina and general corporate purposes. Three directors and one senior officer subscribed for an aggregate 1,076,000 Units. Securities carry a four-month hold period.
FinancingMirasol Resources Announces Private Placement Financing
A non-brokered private placement of up to 5,000,000 units at $0.60 per unit for gross proceeds of up to $3.0 million is being arranged, with each unit comprising one common share and one-half warrant exercisable at $0.80 for twelve months from closing. Proceeds will fund expanded exploration programs and general corporate purposes. Closing is expected on or about March 31, 2024, subject to TSX-V approval, with a four month hold period and possible finders' fees.
FinancingMirasol Video Update on Sobek Copper-Gold Project – Highlighting the Recent Strategic Addition of Adjacent Rosita Property in Vicuña District, Chile
A video presentation and Q&A on exploration progress at the Sobek copper-gold project in Chile's Vicuña district has been released, covering the February 14, 2024 agreement with SQM adding the adjacent Rosita property and doubling the project to 22,640 hectares across the North, Central, South and Rosita blocks. The eastern Rosita portion lies 3 km west of Filo del Sol and the Sobek North El Potro prospect 3 km southwest of NGEx's Lunahuasi discovery. Exploration is underway to refine drill targets at the Sobek Central VN Zone and El Potro. Mirasol is exhibiting at PDAC 2024, Booth 2118, March 3-7.
CorporateMirasol Doubles the Sobek Copper-Gold Project in Vicuña District, Chile, through Option Agreement with SQM on Adjacent Rosita Property
An option agreement with SQM covers the 11,500-hectare Rosita property adjacent to Mirasol's Sobek Copper-Gold Project in Chile's Vicuña district, expanding the combined holding to 22,640 hectares across four blocks. Mirasol can earn 80% of Rosita over six years by incurring US$4 million in exploration expenditures and paying US$3 million in option fees, with SQM retaining 20% plus a 2% NSR. Field mapping, geochemical sampling and a property-wide stream sediment program begin immediately.
AcquisitionMirasol Resources Announces the Promotion of Tim Heenan to CEO and Appointment to the Board of Directors
Tim Heenan, previously President of Mirasol Resources, has been promoted to Chief Executive Officer and appointed to the Board of Directors, both effective immediately. Heenan has been with the company since its founding in 2005 and served as President since April 2022. Patrick Evans will continue as non-executive Chair. Mirasol holds copper-gold porphyry and precious metals projects in Chile and Argentina.
Management
202317 releases
Mirasol Resources Announces Annual Option Grants
The Board of Directors has approved the grant of 1,713,750 incentive stock options under the Company's long-term incentive plan to employees, officers, directors and consultants. The options are exercisable at $0.72 per common share for five years from the date of grant, with employee options vesting 25% on the grant date and an additional 25% every six months thereafter. The grants fall under the Stock Option Plan approved by shareholders on June 7, 2023.
CorporateMirasol Advances Exploration Program at Sobek Copper-Gold Project in Chile in Preparation for Drilling
Exploration has resumed at the 100%-owned Sobek copper-gold project in Chile's Vicuña district, where construction of an access road to priority drill targets at Sobek Central and Sobek North is complete and IP geophysical surveys are scheduled to begin shortly. A combined 3,000-metre maiden drill campaign, suspended last season due to winter weather, is set to restart at the Sobek Central VN-Zone early in Q1 2024 before moving to the El Potro Zone at Sobek North. Sobek comprises 11,120 ha of claims, 7 km west of Filo del Sol and 3 km from NGEx's Lunahuasi discovery.
Drill resultsMirasol Advances Exploration at Inca Copper-Gold Project in Chile and Reports Drill Results from Vania Prospect
Two drill holes totalling 925 meters were completed in the maiden program at the Vania prospect on the 16,300-hectare Inca Copper-Gold Project in Chile. Vania North hole VAN-DDH-001, to 346 meters, intersected dioritic intrusive with silica-magnetite alteration from 265 meters and returned 34 meters at 0.0205% copper (205 ppm), with propylitic alteration. Vania South hole VANS-DDH-001, to 580 meters, returned no significant copper apart from a narrow section from 274.5 to 276.4 meters. Untested targets include Vania East and Vania Southwest.
Drill resultsMirasol Increases Virginia Silver Resource in Argentina
An updated mineral resource estimate for the 100%-owned Virginia Silver Deposit in Santa Cruz Province, Argentina raises contained silver 30% to 20 million ounces, comprising an Indicated Resource of 11.7 million ounces at 357 g/t silver and an Inferred Resource of 7.9 million ounces at 184 g/t, using US$25 per ounce silver and a 65 g/t cut-off, effective October 30, 2023. Including the Halo/Undefined zone at a 250 g/t cut-off adds 0.5 million ounces, taking Inferred to 8.4 million ounces. The estimate incorporates 70 new drill holes totalling 10,247 m drilled from 2020 to 2022.
Resource updateMirasol Announces the Launch of Partner-Funded Drill Program at the Claudia Gold-Silver Project in Argentina
A partner-funded drill program has begun at the 65,192-hectare Claudia gold-silver project in Santa Cruz, Argentina, with over 3,300 meters in 13 holes from 100 to more than 400m deep, funded by Cerro Vanguardia SA, owned by AngloGold Ashanti (92.5%) and FOMICRUZ S.E. (7.5%). Under the option agreement, CVSA can acquire 100% of Claudia by drilling 12,500 meters within four years, leaving Mirasol a 2% net smelter royalty. Patagonia Gold's option on the Homenaje project has been terminated.
Drill resultsMirasol Commences Vania Drill Campaign at Inca Copper-Gold Project in Chile
A maiden drill program has begun at the Vania South prospect on the 16,300-hectare Inca Copper-Gold Project in Chile, with the first hole designed to test a magnetic anomaly, an MT conductivity anomaly, two controlling fault structures and a surface geochemical anomaly. Target selection followed a 378-line km Airborne Mobile MT survey covering 53 sq km with 100m flight lines. Mirasol holds an option to earn 100% of Inca Gold from Newmont affiliates, subject to a 1.5% NSR royalty.
Drill resultsMirasol Refines Priority Targets Based on Results from Preliminary Drill Program at Sobek Copper Project in Chile
Results from the preliminary drill program at the 100%-owned Sobek copper-gold project in Chile's Vicuña district were inconclusive, as the two holes did not reach their intended targets before winter weather halted drilling; SB-DDH-001 stopped at 352m in a fault zone and SB-DDH-002 was halted at 586m for safety reasons. Both targets require follow-up drilling. A 500-line km Airborne Mobile MT survey outlined several anomalies, and drilling is to resume in Q4 2023 with 3,400m planned across Sobek Central and Sobek North (El Potro).
Drill resultsMirasol Announces Vania Drill Campaign at Inca Copper-Gold Project in Chile
A maiden drill campaign at the Vania North and Vania South prospects on the 16,300-hectare Inca Copper-Gold Project in Chile is scheduled to begin in late July, with Mirasol holding an option to earn 100% of the project from affiliates of Newmont Corporation, subject to a 1.5% NSR royalty. An airborne Mobile MT survey with 100m flight lines is underway across the Vania prospects, plus 200m lines at the wholly owned Rubi Project 20 km north. New targets were defined at Vania East and Vania SW.
Drill resultsMirasol Advances Maiden Drill Campaign Testing Initial Targets at Flagship Sobek Copper Project in Chile
Two holes totalling almost 950m have been completed in the maiden drill campaign at the 100%-owned Sobek copper-gold project in Chile's Vicuña district: SB-DDH-001 at the Central Breccia zone stopped at 352m, and SB-DDH-002, targeting a Mobile MT response 500m south-southeast, reached 586m before winter weather halted work. A 500-line km airborne Mobile MT survey covering Sobek Central (75 sq.km) and part of Sobek North (13 sq.km) was completed. Select grab samples at the VN-Zone returned up to 5.0 g/t gold and 2200 ppm copper; El Potro East samples returned 0.10 to 4.3 g/t gold with 3.0 to 25.9 g/t silver. Drilling is to resume in the fourth quarter.
Drill resultsMirasol Terminates Agreement to Option Coronación Copper-Gold Project, Chile
Mirasol has regained 100% control of the Coronación high-sulfidation epithermal copper-gold project in Chile after terminating the Option and Farm-in Agreement with First Quantum Minerals announced October 7, 2019, following First Quantum's inability to meet the minimum drilling requirement. First Quantum had invested approximately US$1 million in exploration on the project, including US$175,000 in cash payments to Mirasol. Mirasol will resume engagement with the local community, with drill plans to be developed subject to that progress.
AcquisitionMirasol Resources Closes Private Placement
A non-brokered private placement of 5,909,600 Units at $1.25 per Unit closed for gross proceeds of $7,387,000. Each Unit includes one common share and one-half warrant exercisable at $1.70 for twelve months from closing, with a four-month hold period and finders' fees paid on a portion. Proceeds will fund exploration, including drilling, at Mirasol's flagship assets in Chile and Argentina and general corporate purposes; director John Tognetti was issued 800,000 shares.
FinancingMirasol Upsizes Private Placement Financing to $7.4 Million
A previously announced non-brokered private placement has been increased from 4,000,000 units to up to 5,920,000 units at $1.25 per unit, raising aggregate gross proceeds of up to $7.4 million versus the originally planned $5.0 million. All other terms remain as announced on May 17, 2023, with closing expected on or about June 7, 2023, subject to TSX Venture Exchange approval.
FinancingMirasol Signs Option Agreement with AngloGold Ashanti’s Cerro Vanguardia SA Mine to Advance the Claudia Gold-Silver Project in Argentina
An option agreement has been signed with Cerro Vanguardia SA (AngloGold Ashanti 92.5%, FOMICRUZ 7.5%) covering the 65,192-hectare Claudia gold-silver project in Santa Cruz, Argentina, 15 kilometers from the Cerro Vanguardia mill. CVSA must complete a minimum 2,500 meters of diamond drilling in the first two years, then may earn the option by drilling 6,000 meters within three years and 12,500 meters within four years, leaving Mirasol a 2% NSR. The Rubi copper option with Mine Discovery Fund has been terminated after US$890,000 in spending.
AcquisitionMirasol Resources Announces Private Placement Financing
A non-brokered private placement of up to 4,000,000 units at $1.25 per unit for gross proceeds of up to $5.0 million is being arranged. Each unit includes one common share and one-half warrant exercisable at $1.70 for twelve months from closing. Proceeds will fund exploration programs and general corporate purposes; the offering is subject to TSX.V approval and is expected to close on or about May 31, 2023, with a four month hold period.
FinancingMirasol Commences Maiden Drill Program at Flagship Sobek Copper Project in Vicuña District, Chile
Drilling has begun at the 100%-owned Sobek Copper Project in Chile's Vicuña District, with the maiden hole collared at the Central Breccia Zone target at Sobek Central. Targets were defined by a completed 500-kilometer helicopter-supported Airborne Mobile MT survey flown on 100m lines over the Sobek Central Block, with depth penetration greater than 800 meters, alongside soil geochemistry and multi-percent copper rock chip samples. Sobek covers 11,120 hectares across North, Central and South blocks. Drilling will continue until the high Andes winter.
Drill resultsMirasol Advances Flagship Sobek Copper Project in Chile Towards Drilling
A maiden drill campaign is scheduled for April at the 100%-owned Sobek copper project in Chile, with access road construction underway at Sobek Central and a 500-kilometer helicopter-supported Airborne Mobile MT geophysical survey to be flown on 100m spaced lines over the CLP, Central Breccia and VN zones. Select rock chip grab samples returned 1.04 and 1.61 g/t gold with 700 ppm copper at the VN Zone, and above 1.0% copper at the Green Wall Zone, extended 1,000m southeast. Soil sampling was expanded 450m southeast of the Central Breccia Zone. Sobek covers 11,120 ha, 7 km west of Filo Mining's Filo del Sol.
Drill resultsMirasol Regains 100% Interest in the High-Grade Virginia Silver Deposit, Argentina, following Termination of Option Agreement
Mirasol has regained an unencumbered 100% interest in the Virginia Silver Deposit in Santa Cruz Province, Argentina, after termination of its option to purchase agreement with Silver Sands Resources Corp. Silver Sands funded more than US$3.4 million in exploration across four drill phases, including over 10,250 metres of diamond drilling, 2,300 metres of trenching and 190 kilometres of IP geophysics. Virginia hosts an indicated resource of 11.9 million ounces at 310 g/t silver and 3.1 million inferred ounces at 207 g/t silver.
Acquisition
202217 releases
Mirasol Resources Announces RSU and Option Grants
The Board of Directors approved the grant of 1,459,000 incentive stock options exercisable at C$0.68 per share for five years to employees, officers, directors and consultants, subject to vesting requirements. The Board also approved 205,000 restricted share units to employees, officers and consultants, each vested RSU entitling the holder to one common share. The grants fall under the Company's Stock Option Plan and Restricted Share Unit Plan, approved by shareholders on May 25, 2022.
CorporateMirasol Resources Closes Private Placement
A non-brokered private placement has closed, with 5,076,667 common shares issued at $0.60 per share for gross proceeds of $3,046,000.20. Proceeds will fund exploration, including drilling, at Mirasol's flagship assets in Chile and Argentina, and general corporate purposes. The shares are subject to a four-month hold period, and finders' fees were paid on a portion of the offering.
FinancingMirasol Defines Additional Drill Targets on the Inca Copper-Gold Project in Chile
An induced polarization survey at the Vania South prospect on the 16,300-hectare Inca Copper-Gold Project in Chile has defined three principal geophysical targets — a leached porphyry zone, a leached cap zone and a faulted/veined/dyke zone — across three parallel IP pole-dipole lines, with drilling planned for early Q1 2023. Geochemical results from 426 Deep Sensing Geochemistry samples collected in November 2022 at Vania South and Vania North are pending and will be used to finalize drill plans. Mirasol can earn 100% of Inca Gold from Newmont affiliates, subject to a 1.5% NSR royalty. A project update webinar is set for December 13, 2022 at 10:00 am PT.
Drill resultsMirasol Resources Announces Private Placement Financing
A non-brokered private placement of up to 5,000,000 common shares at $0.60 per share has been arranged, for aggregate gross proceeds of up to approximately $3.0M. Net proceeds will fund Mirasol's exploration programs and general corporate purposes, with finders' fees possibly payable on a portion of the offering and a four month hold period on the shares. Closing is subject to customary conditions, including TSX-V approval.
FinancingMirasol Advances Exploration to Refine Drill Targets at Flagship Sobek Copper Project in Chile
The 2022/23 exploration program has begun at the 100%-owned Sobek copper project in Chile, an 11,120 ha claim block located 7 km west of Filo Mining's Filo del Sol, with access agreements in place and drilling planned for the first half of 2023. Work includes mapping, soil grid expansion, ground magnetics and IP geophysics, and a temporary 4 km access road at Sobek Central. Prior sampling returned repeat select rock chip grab results above 10% copper over more than 250 m of strike at the Green Wall Zone, and 0.241 ppm gold with 234 ppm copper at the VN Zone.
Drill resultsMirasol Reports on Encouraging Gold and Base Metal Mineralization from Maiden Drill Program at the Libanesa Project in Argentina
Maiden drilling at the 100%-owned Libanesa gold-silver-lead-zinc project in Santa Cruz, Argentina returned 26m at 0.98 g/t AuEq75 (0.38 g/t Au, 44.7 g/t Ag) in hole DDH-LGA-003, including 10m at 1.43 g/t AuEq75 with 2.16% Pb and 1.35% Zn at the Cerro Plomo prospect, and 3m at 1.79 g/t AuEq75 in hole DDH-LGA-011 at Lagunita. The program comprised eleven diamond holes totalling 1,716 m and was cut short by weather; Mirasol says follow-up drilling is warranted and flags a partnership opportunity.
Drill resultsMirasol Identifies New Drill Targets on the Inca Copper-Gold Project in Chile - Drilling planned for Fourth Quarter 2022
A drill target has been defined at the Vania North prospect on the 16,300-hectare Inca Gold copper-gold project in Chile, where a recent Induced Polarization pole-dipole survey detected anomalies coincident with gold and pathfinder-element geochemistry and magnetic depletion. Drilling is scheduled to begin in Q4 2022, preceded by infill Deep Sensing Geochemical lines. An IP crew has also been mobilized over Vania South, a concealed magnetic anomaly three kilometres south. The project is optioned from Newmont, with Mirasol able to earn 100% subject to a 1.5% NSR.
Drill resultsMirasol Regains 100% Control of Gorbea Project, Chile
Newcrest Mining has terminated the Option and Farm-in Agreement announced January 28, 2019, returning 100 percent control of the Gorbea high-sulfidation epithermal gold project in Chile to Mirasol Resources. Newcrest invested over US$11.6 million in exploration at Gorbea, completed nearly 7,500 meters of drilling and made US$600,000 in payments to Mirasol. Mirasol will consider all options to advance exploration, including identifying new partners, once the latest data is received and reviewed.
AcquisitionMirasol Continues to Report Encouraging Results from Phase IV Drill Program at the Virginia Project, Argentina - High-grade Intercepts Extend Mineralization Beyond the Existing Silver Resource
Results from a 12-hole, 1,362-metre Phase IV diamond drill program at the Virginia Silver Project in Santa Cruz province, Argentina included 4.85 m at 720 g/t silver, with 0.30 m at 1,775 g/t silver, in Margarita hole MR-DDH-004, 11.95 m at 124 g/t silver at Ely Central and 5.65 m at 144 g/t silver at Ely North. The program is funded by Silver Sands Resources under an option agreement leaving Mirasol a 19.9% stake in Silver Sands and a 3% NSR. Golden Arrow has terminated its option on the Libanesa silver-gold project after spending over US$500,000.
Drill resultsMirasol Resources Identifies New Copper Porphyry Target on its Tefnut Prospect in the Province of San Juan, Argentina
Reconnaissance work at the 100%-controlled Tefnut copper prospect, about 4,500 hectares in San Juan province, Argentina, defined a 1.5 by 1.5 kilometre porphyry-related phyllic alteration system with outcropping copper mineralization. Grab samples from mineralized outcrops returned 0.14% and 0.19% copper, with anomalous molybdenum up to 42 ppm and the four highest values of 15 samples ranging 17-42 ppm. Detailed geochemical sampling, mapping and geophysics are planned for the October 2022-April 2023 season to advance the prospect toward drill-ready status.
Drill resultsMirasol Resources Reports on 2022 Annual General Meeting of Shareholders
Shareholders at the May 25, 2022 annual general meeting elected Nick DeMare, Patrick Evans, Tim Moody, Diane Nicolson and John Tognetti as directors for the ensuing year, and approved the reappointment of Davidson & Company as auditor, the Stock Option Plan, the Restricted Share Unit Plan and other business. The board subsequently reappointed Patrick Evans as Executive Chairman, Timothy Heenan as President, Carmen Cazares as CFO, Troy Shultz as VP Investor Relations and Max Pinsky as Corporate Secretary.
CorporateMirasol Announces Receipt of Common Shares of Silver Sands Resources Corp. and Now Holds 12.9%
Mirasol Resources was issued 3,827,462 common shares of Silver Sands Resources Corp. on May 20, 2022, representing 5% of Silver Sands' issued and outstanding share capital, as partial consideration under a May 20, 2020 mineral option agreement covering the Virginia Property in Santa Cruz province, Argentina. Mirasol now holds 10,377,943 shares, or approximately 12.9% undiluted and 10.3% fully diluted. The agreement provides for issuance of 19.9% of Silver Sands' shares in stages over three years if the option is fully exercised, with Mirasol retaining a 3% NSR royalty.
NewsMirasol Announces Management Changes
Troy Shultz has been appointed Vice President Investor Relations at Mirasol Resources, bringing more than 15 years of mining investor relations experience, most recently as Director, Investor Relations and Corporate Communications at Pretium Resources Inc. He was granted 200,000 stock options exercisable at $0.80 per share for five years, vesting over one year. Jonathan Rosset has resigned as Vice President Corporate Development. Mirasol holds exploration projects in Chile and Argentina.
ManagementMirasol Announces Start of Phase IV Drill Program at Virginia Silver Project, Argentina
Phase IV diamond drilling has begun at the Virginia Silver Project in Santa Cruz province, Argentina, comprising 14 holes for 1,500m, adding to the 8,867m already completed under the partnership with Silver Sands Resources, which funds the program under an option-to-purchase agreement. Holes will target Ely Central and Ely North, Margarita — where Phase III hole MR-DDH-003 returned 2.65m at 1,456 g/t Ag — Martina NW and Central, Patricia, Daniela and Santa Rita East. Completion is anticipated by late April.
Drill resultsMirasol Holds 8.6% Interest in Silver Sands Resources Corp.
Mirasol's interest in Silver Sands Resources Corp. has fallen below 10% following Silver Sands' non-brokered unit private placement, in which Mirasol did not participate. Mirasol holds 6,550,481 Silver Sands common shares, representing approximately 8.6% of the increased 76,549,249 shares outstanding, down from about 10.4%. The shares were issued under a May 20, 2020 option agreement granting Silver Sands the option to acquire 100% of Mirasol's Virginia Property in Santa Cruz province, Argentina, with up to 19.9% issuable over three years. An early warning report will be filed.
NewsMirasol Announces Start of Maiden Drill Program at Libanesa Silver-Gold Project, Argentina
A maiden diamond drilling program has begun at the 14,500-hectare Libanesa silver-gold project in Santa Cruz province, Argentina, operated by partner Golden Arrow Resources. Up to 2,000m will be drilled in eighteen holes of 75 to 250m depth, testing the Cerro Redondo (13 holes), Lagunita and Lagunita West (5 holes) prospects. Golden Arrow may earn 75 percent of Libanesa over six years by spending US$4 million on exploration, completing the 2,000m program and paying Mirasol US$1 million.
Drill resultsMirasol Advances Sobek Copper Project and Provides General Exploration Update
An exploration update covering projects in Chile and Argentina. At the Sobek copper project in Chile, access agreements were secured for 100% of the property and a maiden field campaign confirmed porphyry-type geology and alteration, with the North Block now covering 6,961 hectares. Newcrest's five reverse circulation holes for 2,072m at Gorbea returned no meaningful mineralization, while hole PEL-DDH-007 at Sascha Marcelina returned 33.9m at 1.3% Pb and 0.5% Zn from 298.6m. A 2,000m maiden drill program at Libanesa is planned to start shortly.
Drill results