Mirasol Commences Vania Drill Campaign at Inca Copper-Gold Project in Chile - Seite 2

The Airborne Mobile MT has high-definition depth penetration to greater than 800m depth below surface and has been proven effective in defining targets in high-sulfidation epithermal (HSE) and porphyry systems elsewhere in Chile. The survey has outlined several MT anomalies and the interpretation suggests they may represent hydrothermal alteration overlying and surrounding concealed intrusive centers.

Vania South Prospect Prioritized for Drilling

Vania South was selected as the priority target because of the coincident geophysical survey and geochemical surface results along with its location at the intersection of two prominent structural trends. As previously reported, the reprocessing and re-interpretation of the original Newmont ground magnetic (“Mag”) data resulted in the identification of the Vania South anomaly located 3 km south of Vania North (news release September 7, 2022). At the Vania South target a concealed and very strong, discrete magnetic response exists within the southeast corner of the Mag grid, showing smooth magnetic textures surrounding the main anomaly (news release December 8, 2022). Vania South displays a very interesting and strong magnetic high response in the analytical signal, and a very compelling target in the magnetic susceptibility processing. Interpretation of the Mag data suggests that this very strong magnetic anomaly may represent a concealed copper porphyry target, with the magnetic source potentially characterizing the potassic-altered core of an intrusive body and the smooth magnetic border representing the envelope of hydrothermal alteration.

Figure 2: Vania Prospects – Ground Magnetics Outline Compelling Copper Porphyry Target

Coincident with the northern part of this set of Mag anomalies is a strong conductivity anomaly which was outlined by the Airborne Mobile MT geophysical survey. Vania South is located along the intersection of two very prominent structural trends, the north-south trending Quebrada Vasquez fault and the east-northeast trending Pique Seco fault. A large copper soil anomaly identified from the deep sensing geochemistry (DSG) survey results, resides above the geophysical anomalies in the alluvial/colluvial transported cover.

The first hole at Vania South is designed to pass through the horizontal resistive layer, which may represent a lithocap, and continue to penetrate the large magnetic anomaly, the MT conductivity anomaly, both of above-mentioned controlling fault structures and the surface geochemical anomaly. The magnetic anomalies appear to reside in the downthrown block (hanging wall) of a large north-northeast structural trend which may separate the basement block on the west side, and the downthrown block on the east side, in a typical horst/graben type structural environment. The Vania South target appears to host characteristics similar to concealed porphyry intrusive bodies, in a very attractive structural setting.