Mirasol Resources Ltd.

Published : October 23rd, 2017

and OceanaGold Sign Definitive Exploration Option Agreement for Mirasol=E2??s Claudia Gold=2DSilver

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
5ab9a40f-549b-4619-92c2-d7fd6e34e6b4.png

Mirasol and OceanaGold Sign Definitive Exploration Option Agreement for Mirasol�s Claudia Gold-Silver Project, Santa Cruz, Argentina.

VANCOUVER, BC, October 23, 2017 Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the �Company� or �Mirasol�) is pleased to announce that on October 20, 2017, the Company and one of its 100% owned Argentine subsidiaries, signed a definitive exploration and option agreement (the �Claudia-OGC JV�) with OceanaGold Corporation to explore the Company�s 100% owned, Claudia Au+Ag project, located in Santa Cruz Province, Argentina (Figure 1, the �Project�). 
 
Oceana Gold Corporation (OGC) is a multi-national, high margin gold producer with an expanding precious metal production profile from its operations in the United States, New Zealand and the Philippines.  Mirasol and OGC are already partnered in an existing option agreement (JV) signed on May 18, 2017 for the La Curva project which is also located in Santa Cruz Province, Argentina � the La Curva JV has a first year spend commitment of US$1.25 million (see news release May 25, 2017).
 
Claudia is a 100% Mirasol owned project, which hosts five exploration stage, low-sulfidation epithermal Au+Ag prospects each of which have multiple drill-ready targets.  Claudia adjoins the world class Cerro Vanguardia Au+Ag mining district, operated by Cerro Vanguardia S.A. (�CVSA�, majority owned by AngloGold Ashanti), with current resources and historic production in excess of 8.6 Moz Au and 135 Moz Ag.   
 
The Claudia-OGC JV, grants OGC the option to acquire in stages, up to a 75% interest in the Project and requires OGC to make a first year commitment of US$1.75 million in exploration expenditure, complete 3,000 m of drilling and make a US$100,000 payment to Mirasol on signing the Agreement (the �First Year Commitment�).
 
Mirasol�s CEO Stephen Nano stated that �we look forward to updating shareholders with results from the Claudia and La Curva JV programs, that will see a combined exploration spend of US$ 3.0 million and approximately 6,000 m of drilling during the first year of the JV�s.�  OGC and Mirasol are currently finalizing the Claudia and La Curva exploration programs that will be initiated in the fourth quarter of 2017.  Mirasol will concurrently operate both JV exploration programs for the first 12 months.
 
The terms of Claudia-OGC JV provide for five sequential earn-in stages, including the First Year Commitment, as follows:
 
Initial Earn-in: Grants OGC the option to earn-in to 51% of the project over a four-year period including completion of the First Year Commitment by:

  1. funding cumulative exploration expenditure totaling US$10.5 million (inclusive of the First Year Commitment); and
  2. making staged cash payments to Mirasol totaling US$1 million (inclusive of the payment on signing).
Mirasol will serve as operator for exploration for the first year in return for a 5% management fee. OGC may elect to serve as operator thereafter or request that Mirasol continue as operator.
 
PEA Milestone: Following completion of the Initial Earn-in, OGC may elect to increase its interest to 60% of the Project, within two years of the Initial Earn-In date, by funding and delivering a preliminary economic assessment, in accordance with NI 43-101, that outlines an inferred resource of not less than: (a) 500,000 ounces of gold equivalent at a cut-off grade of 0.25 g/t gold equivalent for an open pit resource; or (b) 500,000 ounces of gold equivalent at a cut-off grade of 1.5 g/t gold equivalent for an underground resource.
 
Feasibility Milestone: Following completion of the PEA Milestone, OGC may elect to increase its interest to 65% of the Project by funding and delivering, within two years of the PEA Milestone, a feasibility study on the Project in accordance with NI 43-101.
 
Block Model Payment: Mirasol�s previous JV partner for the Claudia Project, CVSA prepared a preliminary block model that outlined a non-NI 43-101 compliant mineral inventory from their drilling at the Io Vein, Curahue prospect.  In the event that ounces of Au+Ag outlined within this block model are included in the resource inventory for either the PEA or Feasibility Milestone earn-in stages of the Claudia Agreement, then Mirasol will receive a US$250,000 Block Model Payment from OGC.     
 
Decision to Mine: Concurrently with the time period to complete the Feasibility Milestone, OGC may elect to increase its interest to 70% of the Project by funding and delivering the following:
  1. a feasibility study suitable to be submitted to a recognized financial institution as a basis for lending funds for the development of a mine; and
  2. approval of a decision to mine by the OGC board.
 
Production Financing: At the Decision to Mine stage, Mirasol can elect to either:
  1. retain 30% of the Project by funding its proportionate share of further development costs; or
  2. exercise its right to require that OGC fund its proportionate share of the development costs (to be repaid from 50% of Mirasol�s net cash flow from the Project) in exchange for Mirasol reducing its interest in the Project to 25%, and thereby increasing OGC�s interest to 75%.   
 
Additional Terms:
  • OGC has the right to extend by one year each of the time periods, to complete either the PEA Milestone or the Feasibility Milestone, by making cash payments to Mirasol. 
  • The Agreement contains dilution provisions for Mirasol to regain control of the project if OGC earns in to 51% but elects not complete subsequent PEA, Feasibility or development milestones.
  • The Claudia Agreement includes a dilution provision where if either party�s project equity position should fall below 10%, then their interest shall convert into a 2% net smelter return (NSR) royalty.

 
About Mirasol Resources Ltd
 
Mirasol is a premier project generation company that is focused on the discovery and development of profitable precious metal and copper deposits, operating via a joint venture business model.  Mirasol arranges strategic joint ventures with precious metal producers which enables Mirasol to avoid equity issuances and maintain a tight share structure while advancing its priority projects which are focused in high-potential regions in Chile and Argentina.  Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and experienced exploration geoscientists to maximize the potential for discovery.  Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age Au+Ag district of Santa Cruz Province Argentina.
 
Stephen Nano, President and CEO of Mirasol, has approved the technical content of this news release and is a Qualified Person under NI 43 -101.
 
For further information, contact:
 
Stephen Nano
President and CEO
 
or
 
Jonathan Rosset
Manager of Corporate Development
 
Tel: +1 (604) 602-9989
 
Email: contact@mirasolresources.com
Website: www.mirasolresources.com
 
 
Under the terms of the recent terminated CVSA Claudia JV, all exploration at the project was managed by Cerro Vanguardia Mines. All previous exploration on the projects was supervised by Mirasol CEO Stephen C. Nano, who is the Qualified Person under NI 43-101.  All information generated from the Joint Venture program is reviewed and validated by Mirasol prior to release. The technical interpretations presented here are those of Mirasol Resources Ltd. 
 
CVSA applied industry standard exploration methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of CVSA�s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2000-accredited laboratory in Argentina for analysis. Assay results from drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.
 
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Associated File: http://mirasolresources.com/mrz_claudiaogc_jv_nr2_20171023/

Mirasol Resources Ltd.
910-850 W. Hastings Street
Vancouver, Bc V6C 1E1
Canada

Add us to your address book

You are receiving this email because you opted into our mail list

Copyright � 2017 Mirasol Resources Ltd., All rights reserved.







This email was sent to newsrelease@24hgold.com
why did I get this?        
Mirasol Resources Ltd. � 910-850 W. Hastings Street � Vancouver, Bc V6C 1E1 � Canada

Email Marketing Powered by MailChimp

Mirasol Resources Ltd.

DEVELOPMENT STAGE
CODE : MRZ.V
ISIN : CA6046801081
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Mirasol Res. is an exploration gold and silver company based in Canada.

Mirasol Res. holds various exploration projects in Argentina.

Its main asset in development is JOAQUIN in Argentina and its main exploration properties are SASCHA, ESPEJO, CLAUDIA, NICO and SANTA RITA SILVER in Argentina.

Mirasol Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 82.5 millions as of today (US$ 64.0 millions, € 55.0 millions).

Its stock quote reached its lowest recent point on October 24, 2008 at CA$ 0.04, and its highest recent level on March 11, 2011 at CA$ 7.94.

Mirasol Res. has 49 120 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Mirasol Resources Ltd.
2008 Annual Report
Project news of Mirasol Resources Ltd.
5/9/2016(Claudia)Reports Start of Cerro Vanguardia Mines JV Drilling at the C...
4/25/2016Mirasol reports encouraging drilling results from the Atlas ...
4/25/2016Mirasol reports encouraging drilling results from the Atlas ...
3/21/2016Mirasol reports drilling & new geophysical survey results fr...
3/21/2016Mirasol reports drilling & new geophysical survey results fr...
3/26/2015Mirasol announces joint venture agreement for Gorbea Belt Go...
9/3/2014Mirasol provides exploration update on Rubi copper- gold por...
9/18/2013Options the Rubi Copper Property to First Quantum Minerals L...
9/16/2013Reports Encouraging Trench Results from the Atlas Gold-Silve...
6/26/2013Signs Option Agreement for Gold Exploration Program in Nort...
6/10/2013Reports Initial Encouraging Gold-Silver Surface Results from...
3/4/2013(Claudia)Reports Phase 1 Rio Seco Drilling and New Trench Results at ...
3/1/2013Advances Titan Gold Project with Positive Geophysical Result...
2/27/2013Invitation to the 2013 Prospectors and Developers Conference
1/17/2013Stakes Nine High Sulphidation Gold Projects in Chile with R...
12/21/2012(Joaquin)Closes Sale of 49% Interest in the Joaquin Silver-Gold Proje...
12/11/2012(Joaquin)Agrees to Sell its Interest in the Joaquin Silver-Gold Proje...
11/26/2012Advances the Rubi Copper-Molybdenum-Gold Project in Chile
11/9/2012Invitation to the 2012 San Francisco Hard Assets Conference
10/4/2012(Espejo)Finalizes Exploration Agreement for the Espejo Project
6/14/2012(Claudia)Drills the Rio Seco Prospect, Claudia gold-silver Project, A...
3/5/2012(Claudia)reports new gold-silver and geophysical results from the Rio...
2/28/2012Invitation to the 2012 Prospectors and Developers Conference
1/26/2012Reports Initial Results of Phase 3 Drilling at the Virginia...
1/18/2012Commences Phase IV Drilling at the Virginia Silver Project
11/22/2011Invitation to the 2011 San Francisco Hard Assets Conference
10/27/2011Commences Drilling Program at the Virginia Silver Project, A...
10/17/2011(Joaquin)Reports Commencement of Feasibility Drilling at the Joaquin...
8/8/2011(Joaquin)Reports Additional Results for the La Negra Deposit, Joaquin...
7/18/2011Significant Silver Intercepts reported from New Veins drille...
6/9/2011(Virginia Argentina)Reports Virginia Silver Project Additional Drill Results
5/12/2011(Virginia Argentina)Reports Additional Phase 2 Drill Results from Virginia Proje...
5/9/2011(Joaquin)Reports Coeur's Initial Resource Estimate for the Joaquin Pr...
4/27/2011(Espejo)signs exploration agreement with Pan American Silver for the...
4/19/2011(Virginia Argentina)Reports Initial Phase 2 Drill Results from Virginia Project ...
3/15/2011(Joaquin)partner Coeur d'Alene elects to take the Joaquin Project to...
2/15/2011(Virginia Argentina)Commences Phase Two Drilling at the Virginia Project, Argent...
1/18/2011(Joaquin)Reports Final Infill Drill Results for the La Negra Deposit,...
12/16/2010(Virginia Argentina)First Drill Results Confirm the Virginia Silver Vein Zone, A...
11/19/2010(Virginia Argentina)Announces Start of Drilling at the Virginia Silver Project, ...
11/8/2010(Virginia Argentina)Receives Approval for Drilling the Virginia Silver Project, ...
11/4/2010(Joaquin)Reports Final Joaquin Project Phase 5 Drilling Results and I...
7/23/2010(Joaquin)Reports initial results from Phase 4 drilling and commenceme...
2/16/2010Reports Results from New High-Grade Silver Veins at the Virg...
1/11/2010(Joaquin)Updates Joaquin Project Phase Three Drilling Results with Ad...
1/6/2010Reports Discovery of a New High Grade Silver Vein, Santa Cru...
11/24/2009(Joaquin)reports highest grade silver yet from the La Negra zone at J...
10/8/2009(Joaquin)Announces Commencement of Phase Three Drill Program at the J...
8/17/2009(Joaquin)partner Coeur upbeat about Joaquin silver project drill resu...
8/12/2009(Nico)reports the start of 1,600 metre drill program at Nico silve...
7/23/2009(Joaquin)reports high grade silver from the La Negra zone at Joaquin
7/13/2009(Joaquin)New Drill Results Extend Morocha Silver Zone at Joaquin Proj...
6/2/2009(Claudia)Reports Claudia Project Exploration Summary
4/27/2009(Joaquin)reports final Phase 1 drill results at Joaquin, and commence...
3/2/2009(Joaquin)Encouraging Silver-Gold Results from Drilling at Mirasol's J...
2/27/2009Announces New High Grade Silver And Gold Showings At The Lib...
2/24/2009La Curva Project Returns High-Grade Gold Values and New Diss...
2/12/2009(Nico)Options the Nico Silver-Gold Project to Coeur d'Alene Mines
1/8/2009(Claudia)Exploration Update for the Claudia Project and Start of Seco...
11/17/2008(Joaquin)commences a 1,700-metre drill program at Joaquin and extends...
6/27/2008(Claudia)increases land holding in strategic silver - gold belt at Es...
5/27/2008(Nico)defines multiple drill targets at the Nico Silver-Gold Proje...
4/11/2008(Claudia)Announces High Grade Gold Results from the Curva Project
Corporate news of Mirasol Resources Ltd.
8/27/2016Grants Options
7/26/2016Mirasol Reports Encouraging Drill Results from Cerro Vanguar...
5/9/2016Mirasol Reports Start of Cerro Vanguardia Mines JV Drilling ...
3/29/2016Mirasol files Amended Resource Report for Virginia Silver Pr...
3/15/2016Mirasol Issues Bonus Shares
3/11/2016Mirasol Announces Change of CFO
3/1/2016Mirasol Signs Exploration and Option Agreement with Cerro Va...
11/13/2015Mirasol Amends Options
11/9/2015Mirasol Announces the Start of Drilling at the Atlas Gold - ...
7/28/2015Mirasol Provides Exploration Update on the Gorbea Belt JV an...
7/27/2015Mirasol expands the large Curahue gold-silver vein system, S...
6/2/2015Mirasol Provides an Update on the Joint Venture Agreement fo...
4/29/2015Mirasol Grants Options and Retains Investor Relations Servic...
4/2/2015Mirasol reports that First Quantum Minerals has relinquished...
3/1/2015Chairman of the Mirasol Board
2/13/2015John Tognetti Joins The Mirasol Board
2/11/2015John Tognetti Joins the Mirasol Board
1/28/2015Mirasol Announces Initial Pit Constrained Mineral Resource f...
12/17/2014Mirasol Resources Ltd. Reports On Annual And Special Meeting
12/10/2014Mirasol advances the Atlas gold-silver project in Northern C...
12/1/2014Mirasol reports start of field campaign for the Frontera JV ...
10/21/2014Mirasol -- Redeems Rights Under Shareholder Rights Plan
8/27/2014Mirasol and First Quantum Minerals sign Definitive Explorati...
7/23/2014Mirasol advances Atlas AGZ prospect in the Miocene belt of C...
7/18/2014Mirasol reports high-grade gold and silver assays associated...
5/7/2014Mirasol Announces New CEO
2/26/2014Expands Targets at Atlas High-sulphidation Silver-gold Proje...
2/25/2014Provides Update on Aggressive Exploration Program on the Rub...
2/21/2014Files 43-101 Technical Report and Identifies Exploration Tre...
1/23/2014advances La Curva gold project with geophysics and surface g...
12/16/2013in the News
12/4/2013Announces Results from Annual General and Special Meeting an...
11/25/2013reports positive drill results from Titan gold project in Ch...
11/5/2013Presenting at the Precious Metals Summit Zurich
10/23/2013to Exhibit and Present at the Silver Summit
9/27/2013Featured in Hard Rock Analyst and Northern Miner
9/20/2013Presents at Two Leading Precious Metal Investment Conference...
2/7/2013Reports Successful Initial Metallurgical Test Results on Hig...
1/21/2013Reports Trench Results from the Newly Discovered Titan Gold ...
12/21/2012Annual Meeting Update
9/22/2012(Joaquin)Files 43-101 Technical Report with Updated Resource Estimate...
8/7/2012(Joaquin)Reports Coeur's Updated Resource Estimate for the Joaquin Pr...
6/26/2012Summarizes Virginia Silver Project Drill Results on Seven De...
6/21/2012Completes Phase 4 Drilling at the Virginia Silver Project --...
5/7/2012(Joaquin)Reports Joaquin Silver Project Infill Drill Results, Argenti...
4/18/2012(Claudia)reports discovery of a new large gold silver vein zone at th...
4/16/2012(Joaquin)Reports on Exploration Drilling of New Targets, Joaquin Silv...
3/1/2012Reports Final Results of Phase 3 Drilling at the Virginia Si...
2/23/2012(Joaquin)Reports Joaquin Silver Project Expansion Drill Results, Arg...
9/7/2011Summarizes Virginia Silver Project Drill Results on Four Dep...
6/28/2011(Joaquin)Files First NI 43-101 Technical Report on Joaquin Silver Pro...
6/16/2011(Joaquin)Announces Exploration Drilling on the Joaquin Silver Project...
11/24/2010Mirasol Res. - unaware of any material change accounting for...
3/4/2010channel samples further upgrade silver values at the Julia V...
2/4/2010in the news: The Northern Miner
12/8/2009profiled in Exploration Insights newsletter
11/5/2009In The News: HRA Journal October 2009
10/20/2009upgrades Libanesa silver-gold project with significant new d...
4/20/2009Brent Cook discusses Prospect Generators
11/10/2008Corporate Update
7/21/2008Upgrades Libanesa and Identifies new Silver - Gold Target ad...
6/16/2008(Espejo)Completes Espejo Project Geophysical Program and Confirms Dr...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (MRZ.V)OTHER OTC (MRZLF)
1.68+0.00%1.37-0.72%
TSX-V
CA$ 1.68
10/31 15:32 -
0%
Prev close Open
1.68 1.68
Low High
1.66 1.68
Year l/h YTD var.
1.47 -  2.00 9.80%
52 week l/h 52 week var.
1.19 -  2.00 4.35%
Volume 1 month var.
1,521 7.01%
24hGold TrendPower© : 21
Produces
Develops Silver
Explores for Gold - Silver
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/15/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
201711.26%2.101.47
201671.59%3.500.77
2015-10.20%1.160.72
201411.36%1.810.82
2013-62.87%2.650.79
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.19-2.56%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 4.58+1.78%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.57+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 2.88+3.05%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.18+6.06%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.66+1.54%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 2.02-1.46%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 4.13+0.73%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.16+10.71%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.90-2.36%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 4.58-0.33%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.14+3.00%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.08+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19+2.70%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 1.05-1.87%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.55+5.77%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 38.02+2.81%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.16+0.00%Trend Power :