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Mirasol Signs Exploration and Option Agreement with Cerro Vanguardia Mines for Claudia Gold Project, Santa Cruz, Argentina
Mirasol Signs Exploration and Option Agreement with Cerro Vanguardia Mines for Claudia Gol...
About this update from Mirasol Resources Ltd
[{"type":"text","content":"\n\n\n\nMirasol Signs Exploration and Option Agreement with Cerro Vanguardia Mines for Claudia Gold Project, Santa Cruz, Argentina\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMirasol Signs Exploration and Option Agreement with Cerro Vanguardia Mines for Claudia Gold Project, Santa Cruz, Argentina\nCanada NewsWire\nVANCOUVER, March 1, 2016\n\n\n\nVANCOUVER, March 1, 2016 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) (the \"Company\") is pleased to announce that the Company, and one if its 100% owned Argentine subsidiaries, have signed an Exploration and Option Agreement dated February 29th, 2016 (the \"Agreement\") with Cerro Vanguardia S.A. (\"CVSA\") to explore the Company's Claudia gold silver project in Santa Cruz province Argentina.  CVSA has been granted the option to acquire, up to a 75% interest in the Claudia Project, exercisable in 3 stages over a six year or shorter earn-in period. \n\nCVSA operates the multi-million ounce Cerro Vanguardia gold and silver mine which abuts Mirasol's 127,680 ha Claudia project containing a series of large scale gold silver prospects (Figure 1; see news release 28th July 2015 and 4th March 2013 and Claudia Project summary on the Mirasol website Mirasol Claudia Presentation) which are within reasonable trucking distance to the Cerro Vanguardia mill and processing facilities.  Cerro Vanguardia S.A. is 92.5 % owned by AngloGold Ashanti, the controlling shareholder, and 7.5 % by Fomicruz S.E., the Santa Cruz provincial mining company.  The mine produced 300 thousand ounces of gold in 2015 and over 1.25Moz in the last five years, mining from a series of open pits, heap leach and underground operations. Cerro Vanguardia is one of AngloGold Ashanti's lower cost gold producers with an all in sustaining cost, in 2015, of USD 873/oz (AngloGold Ashanti Q4-2015 report) with total district resources and past production of 8.6 Moz Au and 135 Moz Ag. \n\nThe first phase of the Claudia – CVSA Agreement entitles CVSA to earn a 51% interest in the project over a maximum 2-year period, by spending USD 5 millio...