Mirasol Resources Ltd. announces the start of a 2,500 meter diamond core drilling program at its La Curva Joint Venture Project ("Project") with OceanaGold Corporation (OGC), Santa Cruz Province Argentina.
La Curva is a 100% Mirasol owned, 36,100 ha exploration-stage gold project located at low elevation in an area with favorable infrastructure ion the western side of Santa Cruz province. Mirasol's exploration at the Project has outlined three gold prospects at Cerro Chato, Loma Arthur and SouthWest, situated along the six km long "La Castora" Trend. These represent compelling drill targets for bulk mineable or high grade, low sulfidation epithermal gold and silver mineralization. This style of mineralization is typical of several multi-million ounce gold – silver mines in the province that are operated by multinational mining companies.
Mirasol recently announced a Joint Venture (JV) at La Curva with high margin precious metal miner OceanaGold Corporation (OGC). The JV requires OGC to make a first year exploration spend of US$1.25 million and to drill 3,000 metres at the project. OGC can elect to earn up to 75% of the La Curva project by making staged option payments to Mirasol totaling US$1.5 million, delivering a feasibility study, a decision to mine, and by providing mine finance to Mirasol for it 25% retained project equity.
Mirasol is the Project operator for the first year of the JV.