Mirasol Resources (TSXV:MRZ) reported additional drill results from its Atlas gold-silver joint venture with Yamana Gold (TSX:YRI). A total of 5,436 meters has been drilled at the project since October 2015. As quoted in the press release: Drill holes 7, 9 and 10 returned strongly anomalous Au+Ag intersections over significant down-hole intervals from reverse circulation …
Mirasol Resources (TSXV:MRZ) reported additional drill results from its Atlas gold-silver joint venture with Yamana Gold (TSX:YRI). A total of 5,436 meters has been drilled at the project since October 2015.
As quoted in the press release:
Drill holes 7, 9 and 10 returned strongly anomalous Au+Ag intersections over significant down-hole intervals from reverse circulation (RC) drilling (Table 2; and refer to comments on the application of RC drilling to early-stage exploration contained within news release March 21, 2016). Results from the diamond core “tail” to drill hole 6B (see news release March 21, 2016) are pending.
The best drill intersections from this current round of drilling include:
- Drill hole 7:
- 40 m at 1.38 g/t Au and 17.9 g/t Ag, including 28 m at 1.82 g/t Au and 22.0 g/t Ag
- 30 m at 0.67 g/t Au and 5.1 g/t Ag, including 18 m at 0.90 g/t Au and 7.4 Ag
- Drill hole 10
- 54 m at 0.35 g/t Au and 5.5 g/t Ag, including 10 m at 1.02 g/t Au and 6.2 g/t Ag
- 68 m at 0.17 g/t Au and 9.9 g/t Ag.
Drill holes 7 and 10 were angled at – 60° along opposing azimuths of 045° and 225°, respectively, to probe the depth-extent of strong geophysical anomalies revealed from the surface IP (resistivity and chargeability) surveys (Figure 2). The encouraging Au+Ag intersections encountered in drill holes 7 and 10 occur at relatively deep depth, approximately 350 m vertically below surface; however, they offer important confirmation of the presence of a significantly mineralized high sulphidation epithermal (HSE) precious metal system at Atlas. Additionally these intersections are predominantly hosted by oxidized to locally transitional (minor residual sulphide) material, demonstrating deep oxidation at the project.
Review of the geological logs from all drilling to-date shows significant intervals of vuggy silica and hydrothermal silicification in holes 4, 6, 8, 9 and 10 which correspond to individual resistivity anomalies. These anomalies combine to outline a 4 to 5 km, circular resistivity feature (Figure 1) in the Atlas IP geophysics. This large accumulation of vuggy and hydrothermal silica is consistent with the interpretation of a substantial HSE alteration system present at Atlas. Preliminary spectral (PIMA) alteration analysis of the mineralized drill intersections show the Au+Ag mineralization is directly associated with vuggy and hydrothermal silica, localized within zones of strong advanced argillic (kaolinite-dickie-alunite) alteration, possibly representing feeder zones.