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     136  0 Kommentare Mirasol Resources Enters into Definitive Agreements for its Nico and Homenaje Projects in Argentina

    VANCOUVER, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) is pleased to announce that it has signed binding agreements with Patagonia Gold Corp. (“Patagonia”) for its Homenaje and Nico projects in Santa Cruz province, Argentina. Patagonia is an exploration and development company focused in southern Argentina and owns the Cap Oeste mine located adjacent to the Homenaje project and the Martha mill, located 45km south of the Nico project along a major highway.

    Mirasol’s President, Tim Heenan, stated: “We are pleased to have completed these two transactions with Patagonia, they are a great partner for both projects given to the proximity of their operations. We look forward to Patagonia advancing and testing both the exploration potential at the Homenaje project and the near surface production potential at Nico.”

    Terms of the Agreements

    • Homenaje Project

    Mirasol has granted Patagonia the option to earn an undivided 75% interest in the project over six years by delivering, by the end of the option period, a positive Prefeasibility Study (as defined by NI 43-101) for a resource of no less than 300,000 oz of Au equivalent. In addition, Patagonia shall complete a minimum of US$ 2.55 million in staged exploration expenditures as scheduled below:

    • US$ 400,000 committed within the first 18 months, including 2,500m of drilling;
    • An additional US$ 750,000 within the first 30 months; and
    • A minimum of US$ 400,000 annually, or US$ 200,000 in any six-month period, thereafter.

    Upon completion of the option, Mirasol and Patagonia will hold a 25% and 75% interest, respectively, in a participating joint venture company that will hold the project. If either party’s equity interest is diluted below 10%, it will convert to a 2% net smelter return (“NSR”) royalty.

    • Nico Project

    Mirasol has transferred its interest in the Nico property to Patagonia in return for a 1.5% NSR royalty. Mirasol has the right to regain full ownership of the property if production from the property has not commenced by the end of third year.

    Figure 1: Location of the Nico and Homenaje Projects, Santa Cruz Province

    Project Overview

    • Homenaje Project

    The Homenaje project covers 10,056 ha and is located at the western margin of the Deseado Massif Au-Ag metallogenic province, just 3km south and southwest from the COSE and Cap Oeste mines operated by Pan American Silver and Patagonia Gold, respectively.

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    Mirasol Resources Enters into Definitive Agreements for its Nico and Homenaje Projects in Argentina VANCOUVER, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) - Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) is pleased to announce that it has signed binding agreements with Patagonia Gold Corp. (“Patagonia”) for …