Mirasol Resources Ltd · TSXV:MRZ
Mirasol Resources — Investor Presentation (July 2020)
34 slides from Mirasol Resources's investor presentation, July 2020
Slide 1: Focused on Discovery
FOCUSED ON DISCOVERY JULY 2020 Gorbea Project, Chile
Slide 2: Cautionary Statement
MIRASOL RESOURCES Cautionary Statement This presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this presentation, other than statements of historical fact, that address future operations, resource potential, exploration drilling, exploitation
Slide 3: Project Generation and Exploration Company
N PROJECT GENERATION AND EXPLORATION COMPANY ATACAMA PUNA GENERATIVE REGION CHILE / ARGENTINA Gold / Silver / Copper Five Partner Funded Projects Earn-in to Joint Venture Option to Purchase ARGENTINA Exploration Project Partnered Project x2 Deal Ready / Pipeline Project One Mirasol Funded Exploratio
Slide 4: Exploration Strategy
MIRASOL IS FOCUSED ON TESTING HIGH-QUALITY EXPLORATION TARGETS EXPLORATION STRATEGY Self-funding exploration and drilling Partner funded exploration High grade projects Large scale projects Infrastructure advantaged Lower exploration risk & Higher exploration risk More expensive to properly test 4
Slide 5: Projects in Chile
N PROJECTS IN CHILE Antofagasta Socaire MRZ-Newcrest Altazor Project Portfolio in Northern Chile – Atacama Puna Region MRZ-FQM Coronación World Class Copper / Gold region Project Escondida Four Option Agreements in Chile El Peñon Taca Taca • Gorbea – Newcrest Mining • Altazor – Newcrest Mining • C
Slide 6: Projects in Argentina
N Las Heras PROJECTS IN ARGENTINA San Jose Perito Hochschild / Moreno McEwan Mining Cerro Negro Newmont Portfolio in Santa Cruz Province Fitz Roy A Mining Province with 7 Operating Mines MRZ - Silver Sands Virginia Project La Curva Option Agreement in Argentina Bajo Don Nicolas Caracoles Ciminas •
Slide 7: Expected Activities and News Flow
EXPECTED ACTIVITIES AND NEWS FLOW Project Operator Exploration Activities Expected Timeline Inca Gold Mirasol Rock chip, channel sampling & Q3 2020 Geophysics Drilling Q4 2020 / Q1 2021 Virginia Mirasol Geophysics Drilling – Contractual min. US$1M Q3 / Q4 2020 Gorbea Newcrest Drilling – Contractual
Slide 8: Mirasol Resources: Valuation
MIRASOL RESOURCES: VALUATION Market Cap $20.5 M (54 M s/o x $0.38/share - as at June 30, 2020) Cash $15.8 M (May 31 estimate, $17 M as at March 31, 2020) Equity in Silver Sands $0.6 M (3.7 M x 0.175/share - as at June 30, 2020) Enterprise Value ~$4 M Partner Funded Drilling Programs Gorbea / Altazor
Slide 9: Why Own Mirasol Today
WHY OWN Low Risk Exploration Exposure MIRASOL TODAY 1 Well funded with partners in place to deliver meaningful exploration activities 2 Multiple quality exploration targets to be drilled tested Low valuation offering opportunity to accumulate 3 position during quiet exploration period Continued insi
Slide 10: Mirasol Funded Exploration
Mirasol Funded Exploration Inca Gold Project, Chile 10
Slide 11: Inca Gold
N Diego de Inca Gold Intermediate Sulfidation ARGENTINA Almagro Epithermal Gold and Silver Project • January 2020 agreement with Newmont • Leveraging exploration expenditures to gain exposure to a large epithermal system • Year-round access and near infrastructure • Prominent epithermal vein system
Slide 12: Inca Gold deal structure with Newmont
• Mirasol earn-in for 100% over 5 years (subject to 1.5% NSR) • Drilling 1,000m over 2 years; and • Incurring US$3M in exploration expenditures over 5 years Deal Structure • Newmont back-in right for 70% in 2 stages, over 6 years: • Paying in cash US$3M to Mirasol; and • Delivering PFS or additional
Slide 13: Multiple Prospects
Inca North Target (Au) Vania Target (Au-Cu) Multiple Prospects • Large scale land package • 5 prospects identified to date Guerda Target • Initial focus on to be on (Au) Sandra target that hosts thick outcropping epithermal veins Rincon Target (Cu-Au) Inca de Oro Sandra Target (Ag-Au) % 2 km San Ped
Slide 14: Sandra Target Area
Ag Au Inca IncaGold GoldClaims ClaimsBoundary Boundary Veins Sandra Target Area Veins Structures Structures Rock Chip Ag (ppm) Rock Chip Au (ppm) • 5 subparallel trend recognized over 2.5 x 4 km area < < • Vein trend over 1.2 km • Sheeted vein zones up to Sandra 20m Target (Ag-Au) Additional surfa
Slide 15: Inca Gold Next Steps
Inca Gold ISE Gold and Silver Project NEXT STEPS • Systematic mapping and sampling • IP geophysics • Permitting • Drilling 15
Slide 16: Partner Funded Exploration
Partner Funded Exploration Gorbea Project, Chile 16
Slide 17: Option to Joint Venture / Option to Purchase
Option to Joint Venture Option to Purchase Virginia – Silver Sands Resources Gorbea - Newcrest 51% 65% 75% 85% NSR royalty US$1M Expl. Commitment >US$ 19M Exploration Expenditures PEA option MRZ 15% 19.9% of the S/O after US$6M in expenditures FS US$600k option payments ($100k paid) $650k cash MRZ 2
Slide 18: Gorbea
Gorbea High Sulfidation Epithermal Gold Project • Large land package with 9 claim blocks incl. N Atlas /Titan • Mirasol’s partners have spent >CA$20M on properties and drilled approx. 16,000 m ARGENTINA • Presence of an oxidized and mineralized HSE gold system confirmed by drilling • Search of highe
Slide 19: Drilling Map 2019/2020 Cross Section
Drilling Map 2019/2020 Cross Section • Newcrest drilled multiple long intervals of alteration and mineralization • Untested gaps remaining that can potentially host higher-grade zones • Regional targets to also be tested (El Dorado Prospect) 19
Slide 20: Gorbea Next Steps
Gorbea HSE Gold Project NEXT STEPS • 2020/2021 Drill program and regional exploration 20
Slide 21: Altazor
N ARGENTINA Altazor HSE Gold Project • Large land package with multiple drill targets defined • Targeting a multi-million ounce HSE gold deposit • Governmental drill permitting process completed • 2,250m drill program planned for Q4 2020 / Q1 2021, subject to community support • Community consultati
Slide 22: 2017/2018 Altazor Surface Program Delivered Compelling Results
Centinela East Strong outcropping alteration Interpreted extent of alteration zone beneath cover 2017/2018 Altazor Surface Program Delivered La Puerta open Compelling Results Purichari open • Extensive (75km2) alteration including steam Sulfuros heated cap, silicification and local vuggy open quartz
Slide 23: Coronación
N ARGENTINA Coronación HSE / Porphyry Copper Gold Project • Option Agreement with First Quantum Minerals signed in October 2019 • Targeting large scale Porphyry and/or HSE systems • Located on major N-W structural trend associated with several porphyry deposits (Taca Taca, Escondida) • Surface work
Slide 24: Surface work indicates potential for HSE or Porphyry system
Incipient Vuggy Silica Coronación Project 1,200 ha Mirasol’s surface work at Coronación Au / Ag indicates potential for HSE or Porphyry High Sulfidation Cu / Mo Epithermal system: Porphyry Target Target • Advanced argillic lithocap (alunite/jarosite) alteration developed in the east HSE style alte
Slide 25: Coronación Next Steps
Coronación HSE / Porphyry Copper Gold Project NEXT STEPS • Completion of Community Engagement Process • Drilling 25
Slide 26: Virginia LSE Silver Project
Virginia LSE Silver Project Chile Las Heras San Jose Perito Hochschild/ Moreno McEwen Mining Argentina • Option to Purchase agreement executed in May 2020, with Silver Sands Cerro Negro Newmont Santa Cruz Resources Corp. closing oversubscribed, $2.2M private placement Province • Well-funded to aggre
Slide 27: Exploration Upside
Exploration Upside • High grade rock chip assays suggest potential for multiple new silver vein trends • Mirasol previously prospected 1/3 of new claims area identifying areas with high grade silver subcrop and Magi aligned float blocks Drill ready targets identified Conceptual pit outlines from V
Slide 28: Virginia Next Steps
Virginia LSE Silver Project NEXT STEPS • Work program approval with partner • Permitting • Drilling 28
Slide 29: Deal Ready Project
Deal Ready Project MIRASOL RESOURCES LTD
Slide 30: Sascha Marcelina
Sascha Marcelina LSE Gold and Silver Project Chile Las Heras San Jose Perito Hochschild/ Moreno McEwen Mining Argentina Cerro Negro Newmont Santa Cruz Province • Underexplored district: consolidated for the first time in early 2019 • Located 100 km south of Newmont’s Cerro Negro mine and displaying
Slide 31: Sascha Marcelina Property Overview
Cerro Negro Jurassic volcanics Chile Sascha Marcelina Sascha - Argentin a Property Overview Cerro Marcelina Morro Santa Cruz Cerro Provin Mina Vanguardia ce Martha Manantial Espejo 50km All Samples Au Ag Estancia and Igloo Trend Marcelina MaxClaims Value 27.7 g/t 121 g/t Sascha MarcelinaNew Rock Chi
Slide 32: Sascha Marcelina - Estancia Trend
Silica Cap Estancia Vein trend may continue under basalt Sascha Marcelina - Estancia Trend Norte Zone to the NW ? Jurassic • N-W structure hosting veins, veinlets and Volcanics stockworks, over more than 3 km 1.86 / 15.7 Estancia Post-mineral gravel cover • Estancia South: Deepest level of erosion,
Slide 33: Activities and News Flow
ACTIVITIES AND NEWS FLOW Mirasol funded exploration programs • Chile: • Inca Gold – Surface sampling, geophysics and drilling Multiple partner funded drilling and exploration programs • Chile: Gorbea, Coronación, Altazor, Nord • Argentina: Virginia drilling Business Development initiatives to
Slide 34: TSX.V: MRZ
TSX.V: MRZ For Further Information: Norm Pitcher, President & CEO Jonathan Rosset, VP Corp. Development www.mirasolresources.com Coronación Project, Chile 34
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