Mirasol Will increase Virginia Silver Useful resource in Argentina

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• Mineral Useful resource Estimate elevated 30% to twenty million ounces silver
• Mineralization stays open alongside strike and at depth
• Quite a few vein prospects exterior and proximal to the Useful resource stay to be examined
• On-going metallurgical testing of the in depth mineralized halo might add vital silver ounces to the mineral useful resource

VANCOUVER, British Columbia, Nov. 09, 2023 (GLOBE NEWSWIRE) — Mirasol Sources Ltd. (TSX-V: MRZ) (OTC: MRZLF) (the “Firm” or “Mirasol”) is happy to announce a rise to the impartial Mineral Useful resource Estimate (the “Useful resource”) for its 100% owned Virginia Silver Deposit (“Virginia” or the “Deposit”) situated within the Santa Cruz Province, Argentina. Found by Mirasol in 2009, Virginia hosts a high-grade, intermediate sulfidation epithermal fashion mineralization in a sequence of outstanding outcropping vein-breccias. The up to date Useful resource builds on the earlier amended Useful resource estimate launched on March 29, 2016.

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The Useful resource contained inside 9 outcropping veins of high-grade silver mineralization (Desk 1) consists of:

• An Indicated Useful resource totaling 11.7 million ounces silver, common grade of 357 g/t
• An Inferred Useful resource totaling 7.9 million ounces silver, common grade of 184 g/t
• Primarily based on a silver worth of US$25 per ounce and a 65 g/t silver cut-off grade (Desk 2). The Useful resource is reported utilizing a brand new constraining useful resource pit centered on the Vein/Breccia high-grade element of the mineralization.

“The Virginia Silver Undertaking is a cornerstone asset inside Mirasol’s massive portfolio of superior stage exploration initiatives in Chile and Argentina. The general 30% enhance in silver ounces within the up to date Useful resource estimate from restricted new drilling underscores the challenge’s potential,” Mirasol’s President, Tim Heenan, commented. “Excessive-grade silver seize samples collected alongside strike and in addition from prospecting a number of close by parallel uncovered veins spotlight the numerous upside potential exterior the present Useful resource.”

Desk 1: Vein/Breccia, Diluted Indicated and Inferred Mineral Useful resource Tabulation

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Notes:

• Mineral useful resource estimates have been ready following with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Estimation of Mineral Sources and Mineral Reserves Finest Apply Pointers (CIM, 2019) and reported in accordance with the CIM Definition Requirements for Mineral Sources and Mineral Reserves (CIM Definition Requirements, 2014). Mineral Sources are estimated at a cut-off grade of 65 g/t silver for Vein/Breccia and 250 g/t silver for Halo/Undefined.
• Mineral Sources are estimated utilizing a silver worth of US$25 per ounce. Mineral Sources are estimated utilizing a mean restoration of 80% for silver hosted in Vein/Breccia and 22% for silver hosted in Halo/Undefined from preliminary metallurgical research.
• A dry bulk density was estimated from the samples utilizing ID3 into 2 m x 2 m x 2 m & minimal subcell 0.5 m x 0.5 m x 0.5 m blocks coded by area, and the non-estimated blocks have been assigned a density worth of two.44 t/m3 and a pair of.09 t/m3 for Halo/Undefined.
• There are not any Mineral Reserves said or calculated on this report.
• Mineral Sources are reported inside conceptual pit shells with Pit Partitions at 50-degree angles.
• Mineral Sources that aren’t Mineral Reserves shouldn’t have demonstrated financial viability.
• Rounding as required by reporting tips could end in obvious discrepancies between tonnes, grades, and include silver content material.
• The efficient date of the Mineral Useful resource is October 30^th, 2023.
• This estimate of mineral assets could also be materially affected by geology, setting, allowing, authorized, title, taxation, sociopolitical, advertising and marketing or different related points.

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The 9 silver deposits thought of on this mineral useful resource estimate are mineralized from floor and are extremely oxidized to the decrease restrict of drilling, at 150m vertical depth. The first silver mineral within the vein/breccia is acanthite, a silver sulphide beneficial to traditional metallurgical processes.

The database for the estimation of mineral assets consists of the preliminary 223 drill holes for 23,116.55m, drilled from 2010 to 2012, and 191 channel samples with 95.67m reported on SEDAR+ (Earnest & Lechner, 2016). The present useful resource estimate incorporates 70 new drill holes from 2020 to 2022, totalling an extra 10,247m. This replace was primarily based on a geological mannequin delivered by Mirasol Sources.

Determine 1: The Location of the 9 Outlined Vein-Breccia Hosted Silver Deposits together with the Six New Pits within the Present Useful resource Estimate. Different Extremely Potential Vein Zones to be Drill Examined are additionally proven

The Mineral Sources estimate is constrained to pit shells (optimized utilizing the Lerchs-Grossman algorithm) utilizing parameters outlined in Desk 2 beneath.

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Desk 2: Conceptual Pit Parameters

Desk 3: Mirasol Virginia Silver Undertaking Useful resource Assertion together with the Halo/Undefined Zone

Within the Halo/Undefined zone with a restoration of twenty-two%, the Useful resource pit declared on this report makes use of the conceptual pit parameters, assuming that the Halo/Undefined silver mineralization will be recovered with a cut-off grade better than or equal to 250 g/t silver, rising the Inferred Useful resource by 0.5 million ounces to eight.4 million ounces.

These Halo/Undefined Inferred Sources primarily exist adjoining to the Vein/Breccia our bodies in type of a halo, supporting the significance to proceed metallurgical testing to extend the arrogance of the Virgina Useful resource and to guage the metallurgical conduct within the restoration of silver throughout the Deposit.

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The Firm has filed an impartial technical report ready in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”), “NI 43-101 Technical Report and Up to date Mineral Useful resource Estimate for the Virginia Silver Undertaking in Santa Cruz Province, Argentina”, with the efficient date of 30 October 2023, supporting a rise to the Useful resource on www.sedarplus.ca and the report will be discovered on the Firm’s web site at https://mirasolresources.com/initiatives/mirasol-exploration/virginia/.

The up to date mineral useful resource estimate was accomplished by Julio B. Novillo, Ph.D., PGeo., Principal Geologist, and José A. Bassan, MSc., PGeo., Principal Geologist, situated in Rio Negro and Córdoba, Argentina respectively and each are Administrators of Patagonia GEOSCIENCES. They’re each Impartial Certified Individuals’ as outlined by Nationwide Instrument 43-101 Commonplace Disclosure for Mineral Tasks who reviewed and validated the useful resource mannequin beforehand ready (unique Virginia Mineral Useful resource Report dated January 23, 2015 and the Amended Useful resource Report dated February 29, 2016). The useful resource estimates have been ready following with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Estimation of Mineral Sources and Mineral Reserves Finest Apply Pointers (CIM, 2019) and reported in accordance with the CIM Definition Requirements for Mineral Sources and Mineral Reserves (CIM Definition Requirements, 2014).

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Exploration Potential Past the Outlined Useful resource to Broaden Mineralized Footprint

Future drilling at Virginia will give attention to rising the inferred silver assets. The potential exists to extend the general deposit by persevering with to drill alongside strike and at depth of the silver veins included within the present useful resource.

As well as, Mirasol’s plans to advance exploration of recent and proximal vein prospects, that are already recognized to host high-grade silver from beforehand collected floor samples (information launch dated Could 10, 2018). These new vein occurrences situated inside shut proximity to the east, south and north with restricted or no drilling are thought of to have the best potential so as to add considerably to the Inferred Useful resource. and are. Centered geological mapping, detailed geochemical sampling and geophysics will information future drilling for the potential discovery of recent mineralized zones.

Metallurgical Testing to Combine Vital Surrounding Halo Mineralization

Halo/Undefined mineralization adjoining to Virginia’s veins-breccias, which host the present Useful resource, characterize a big quantity of fabric with a mean grade of 55 g/t silver. This Halo/undefined silver mineralization with low recoveries from the preliminary metallurgical check work accomplished so far (≤22%). Nevertheless, due to the numerous quantity of this Halo/Undefined materials metallurgical testing trying to enhance and enhance the silver recoveries is at the moment ongoing with the aim of creating an acceptable processing technique for this materials.

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Technical Stories Notes

The unique Mineral Sources referenced on this press launch concerning the Virginia Undertaking refers back to the technical report: “Virginia Undertaking, Santa Cruz Province, Argentina – Preliminary Silver Mineral Useful resource Estimate”, with an efficient date of January 23, 2015, and authored by Donald F. Earnest P. Geo. (Impartial Certified Particular person) and Michael J. Lechner, P.Geo. (Impartial Certified Particular person).

The amended Mineral Sources referenced on this press launch concerning the Virginia Undertaking refers back to the technical report: “Amended Technical Report, Virginia Undertaking, Santa Cruz Province, Argentina – Preliminary Silver Mineral Useful resource Estimate”, with an efficient date of February 29, 2016, and authored by Donald F. Earnest P. Geo. (Impartial Certified Particular person) and Michael J. Lechner, P.Geo. (Impartial Certified Particular person).

About Mirasol Sources Ltd

Mirasol is a well-funded exploration firm with 19 years of working, allowing and group relations expertise within the mineral wealthy areas of Chile and Argentina. Mirasol is at the moment self-funding exploration at two flagship initiatives, Sobek and Inca, each situated in Chile and controls 100% of the high-grade Virginia Silver Deposit in Argentina. Mirasol additionally continues to advance a robust pipeline of extremely potential early and mid-stage initiatives.

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For additional info, contact:
Tim Heenan, President
or
Troy Shultz, Vice President Investor Relations

Tel: +1 (604) 602-9989
E-mail: contact@mirasolresources.com
Web site: www.mirasolresources.com

QAQC: Mirasol applies industry-standard exploration sampling methodologies and methods. All geochemical rock and drill samples are collected beneath the supervision of the corporate’s geologists following {industry} apply. Geochemical assays are obtained and reported beneath a high quality assurance and high quality management (QA/QC) program with insertions of controls (requirements, blanks and duplicates, representing 5%, 4% and 5% of the samples, respectively).

Drill composites have been calculated utilizing a cut-off of 65 g/t Ag. Drill intersections are reported as true thicknesses. Drill samples have been assayed by Alex Stewart Laboratories ALS Restricted in Mendoza, Argentina, which complies with certification ISO 9001:2015 and accreditation ISO 17025:2017, for silver by Fireplace Assay of a 30-gram (1 assay ton) cost with an AA end, or if over 100 g/t Ag have been re-assayed and accomplished with a gravimetric end. For these samples, the gravimetric knowledge have been utilized in calculating silver intersections.

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Fireplace Assay analyzes samples for each Au and Ag and in addition by ICP MS, together with a bundle of 48 parts.

Drill core samples have a mean 1.2m size earlier than composite and 1.9m in size after composite of Vein/Breccia and Halo/Undefined, and the core diameter is usually HQ/HQ3. The samples are delivered to the laboratory by Mirasol personnel, a non-public courier, or a devoted laboratory pick-up service.

Certified Particular person Assertion: Mirasol’s disclosure of technical and scientific info on this press launch has been reviewed and permitted by Tim Heenan (MAIG), the President for the Firm, who serves as a Certified Particular person beneath the definition of Nationwide Instrument 43-101.

Ahead Trying Statements: The knowledge on this information launch comprises ahead trying statements which can be topic to a lot of recognized and unknown dangers, uncertainties and different components which will trigger precise outcomes to vary materially from these anticipated in our forward-looking statements. Elements that might trigger such variations embrace: adjustments in world commodity markets, fairness markets, prices and provide of supplies related to the mining {industry}, change in authorities and adjustments to rules affecting the mining {industry} and to insurance policies linked to pandemics, social and environmental associated issues. Ahead-looking statements on this launch embrace statements concerning future exploration applications, operation plans, geological interpretations, mineral tenure points and mineral restoration processes. Though we consider the expectations mirrored in our forward-looking statements are affordable, outcomes could differ, and we can not assure future outcomes, ranges of exercise, efficiency or achievements. Mirasol disclaims any obligations to replace or revise any forward-looking statements whether or not on account of new info, future occasions or in any other case, besides as could also be required by relevant regulation.

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.

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