mirasol resources corporate update march 2017 · 2017. 3. 2. · mirasol resources focused on gold...

MIRASOL RESOURCESFocused on gold & silver discoveryMIRASOL RESOURCESFocused on gold & silver discovery

Stephen Nano President & CEO

TSX.V: MRZ

OTCPK: MRZLF

MIRASOL RESOURCESCorporate Update March 2017

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, thataddress future operations, resource potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward lookingstatements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans” “anticipates”,“believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Informationinferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutesa prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-lookingstatements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and explorationsuccesses, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are notguarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statementsare based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update theseforward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as may be required by applicable law.

This presentation may use the term “indicated resource”. The Company advises investors that although this term is recognized and required by Canadian securities regulations(under National Instrument 43-101 “Standards of Disclosure for Mineral Projects”), however the US Securities and Exchange Commission does not recognize this term. Investorsare cautioned not to assume that any part of or all of the mineral deposits in these categories will ever be converted into reserves.

Stephen Nano, President and CEO for the Company and a “Qualified Person” under National Instrument 43-101, has reviewed and approved the scientific and technicalinformation in this presentation.

MIRASOL RESOURCES


MIRASOL RESOURCESCommodity Strategy

MIRASOL RESOURCESFocused on gold & silver discoveryGold/Copper Discovery Rates in Mirasol’s Focus Regions

Major Copper Discoveries by Country, 1990-2014

Major Gold Discoveries by Country, 1990-2015

Copper discovery by company type

Major649.2 Moz

38%

Junior707.1 Moz

41%

Intermediate256.7 Moz

15%

Government76.0 Moz

4%

Other26.2 Moz

2%

Major568.8 Mt

61%

Junior220.2 Mt

23%

Government83.2 Mt

9%

Intermediate46.7 Mt

5%

Other21.1 Mt

2%

Gold discovery by company type

4

MIRASOL RESOURCESFocused on gold & silver discovery

Gold: Macro Patterns, Drivers for the Project Generation Business Model

Decade long decline in discovery rates of minable ounces of gold

May equate to 60 million ounces per year shortfall

Major decline in exploration spend from 2012 - 2016 years

Exploration and generative teams disbanded Fewer new exploration projects

Trend of improved gold and silver prices

Improving profit margins for producersMoney starting to flow into new greenfield projects In 2017 we are seeing increasing demand for Drill Ready

Gold, Silver and Copper projects

Increasing demand for quality exploration projects Driver for Mirasol’s precious metal project generation business

5

Decade long decline in Gold discovery rates

+3 Years, Steep Decline in Exploration Spend

July 2015 – Jan 2017 Gold – Silver Commodity Price (USD/oz)

GoldLow US $1,068.25 $1,256.9 (24 Feb 2017)

SilverLow US $14.09 $18.34 (24 Feb 2017)

Go

ld P

rice

(U

SD/o

z)

Silv

er P

rice

(U

SD/o

z)


$2,000

$4,000

$6,000

$8,000

$10,000

LME

Co

pp

er

Pri

ce (

USD

/ M

etr

ic T

on

)

• Increasing use of copper: Electrification of India and China; new copper intense technologies (e.g. electric cars, wind turbines etc.)

• Global trend for decreasing reserves and head grades

• Falling discovery rates for quality, developable resources

• Longer lead times for development of new discoveries (1990’s – 10 years; vs. 2000’s – 20 years)

• Low copper prices disincentivizing development of new copper supply (Thompson Reuters GFMS estimates >US $3.50/lb is threshold needed to incentivise new development)

Decreasing copper stockpiles and projected supply deficit starting 2018/19 by 2028 maybe 10 million tonne deficit per year

Implies that increasing investment in Copper exploration will follow in response to shortfall

Mirasol positioning to build copper portfolio

Copper production capacity and LME Copper Price (USD/T)

2017 price increase: Short term supply deficit? Or longer term trend of lower head grades & lower production capacity?

LME Copper Price (USD / Metric Ton)

Decade long decline in Copper discovery rates

Copper: Macro Patterns, Drivers for the Project Generation Business Model

Mirasol is securing quality copper projects now ahead of anticipated demand upswing

The Looming Copper Supply Crunch [infographic], Visual Capitalist.

Strategies for Copper Reserves Replacement: The Costs of Finding and Acquiring Copper, SNL Metals & Mining 2015

6

+3 Years, Steep Decline in Exploration Spend


MIRASOL RESOURCESIn Summary

Mirasol Resources: in SummaryMirasol’s Share Price moves ahead of GDXJ Gold Index

Correlating to large upswing in US and Canadian share volume

Share Price: CA$ 0.89 Jan 2016 CA$ 1.97 Jan 2017Share volume: 500K Jan 2016 1.75M Jan 2017

• Canadian listed project generator focused on gold silver and copper discovery in Chile and Argentina

• Well funded CA $24.6 M cash from rights offering and sale of Joaquin silver discovery (Dec 31 2016)

• Conservative capital structure • 49 M shares outstanding• 3 M Stock options outstanding• 0.5 M Bonus warrants (expires March 2017)• +30% management position

• Leading edge technology and discovery team

• Active JVs – strong partners, strong projects, strong deals

• Large portfolio of drill ready Gold Silver Copper projects focused delivering new JV deals

• New large pipeline of early stage projects in Chilean / Argentine world class mineral belts

Well funded / Conservative capital structure / Strong JV’s / High calibre Gold Silver Copper project portfolio

Management34%

Institutional Investors 28%

Retail 38%

8


Mirasol Resources: Leveraging the JV Business Model for Discovery

Joaquin & VirginiaDrill Discovery

Joa

qu

in /

Sa

sch

a J

V

Cla

ud

ia /

Sa

nta

Rit

a J

V

Nic

o J

V

Esp

ejo

JV

Ru

bi

JV

Go

rbe

a J

V

MRZ Incorp.MRZ listed

on TSX Share Price

JV P

artn

er

Spe

nd

to

51

% -

US

$ M

illio

n

Shar

e p

rice

–C

AD

$

Cla

ud

ia J

V

Cu

rva

LO

I

Cumulative JV outcomes to MRZ in last 3 yearsJV exploration spend: appx. CA$ 11.2 MJV option payments: appx. CA$ 428,000 JV partner cost recoveries to MRZ: CA$ 830,000

Total metres drilled: 19,700 m

Anticipated minimum drilling 2017:

Gorbea & Curva 6,500 m before mid year

FY2014-2016 JV Partners• Exploration spend of CA$ 11.2M• Drilling totalling 19,700 metres

FY2014-2016 Mirasol• Exploration spend of CA$ 15.6M• Drilling totalling 0 metres

73% increase in in-ground exploration spend at no additional cost nor dilution to Mirasol shareholders

JV partner spend directed toward drilling for discovery

Mirasol’s exploration funds been directed toward building new

Au + Ag + Cu project portfolio

Consistent flow of news from existing JV’s, new JV deals and new Mirasol project exploration

FY2017 JV Partner fundedminimum 6,500 metres drillingAnticipated spend US$2.3 M

9


MIRASOL PROJECT GENERATIONTargeting giant gold-silver-copper discoveries

delivering new projects to the pipeline

MIRASOL RESOURCESFocused on gold & silver discoveryProject Generation: Focus / Pedigree / Capability

Mirasol Gorbea JVAtlas / Titan Projects

Barrick Gold

New Alturas

Gold Discovery

6.8 Moz gold ^

Gold Fields New

Salares Norte

Gold Discovery

3.3 Moz gold *

MirasolNew Pipeline Projects

200km

Antofagasta

Santiago

Atacama Puna

Generative

MRZ JV Project

MRZ Pipeline Project

Major Au-Ag-Cu Deposit

Major Cu-Mo-Au DepositEocene-Oligocene Volcanic Belt

Mio-Pliocene Volcanic Belt

Paleocene Volcanic Belt

LEGEND

* (Gold Fields Mineral Resource and Mineral Reserve Supplement to the Integrated Annual Review, 31 December 2015)^ (Barrick Mineral Reserves and Mineral Resources, 2016)

ATACAMA –PUNA

GENERATIVE

SANTA CRUZGENERATIVE

Atacama – Puna 190,000 ha in 32 Mirasol projects

Santa Cruz 370,000 ha in 13 Mirasol projects

• World class pedigree under-explored precious metal terrains

• Compatible with Mirasol’s technology driven generative expertize

• High Calibre generative and exploration teams with decades of successful

experience in these geological environments

• Well-funded aggressive programs

• Counter cyclical approach to generative exploration

Extensive portfolio of Gold - Silver - Copper projects

Gorbea and La Curva JV’s

JV ready projects with efforts focused on securing new deals

Large package of pipeline projects in both regions

11

Taltal

Antofagasta

Taltal

Antofagasta

Copiapo

Copiapo

El Indio Belt43 Moz Au110 Moz Ag

Gorbea JVAu-Ag

Alturas6.8 Moz Au

Salares Norte3.3 Moz Au &42.1 Moz Ag

Argentina

Chile

Argentina

Chile

Argentina

Chile

RubiCu

OdinCu

AltazorAu-Ag-Cu

IndraAg-Au

100km 100km 100km

Relincho8 MT Cu

El Penon8.8 Moz Au185 Moz Ag

El Salvador Cluster30 MT Cu

EscondidaCluster140 MT Cu

ChuquicamataCluster130 MT Cu

CentinelaCluster40 MT Cu

Copiapo

Oligocene AgeMagmatic Centres

Mirasol Pipeline Project

Copper Deposit

Paleocene AgeMagmatic Centres

Miocene AgeMagmatic Centres

Gold Deposit

Mirasol Gorbea JV Property

Spence 14 MT Cu

Inca de Oro2.9 Moz Au1.6 MT Cu

Approximate contained metal reserves, resources & historic production

Miocene-Pliocene Belt, 26 – 3MaMid-Eocene – Early Oligocene, 45 – 31MaPaleocene – Mid-Eocene, 69 – 48Ma

Maricunga Belt109 Moz Au325 Moz Ag

El Teniente128 MT Cu

PelambresCluster20 Moz Au60 MT Cu

Santiago

Los Bronces107 MT Cu

El Guanaco700 Koz Au2 Moz Ag

Vicuna25.1 Moz Au315 Moz Ag

Taca Taca12MT Cu

Atacama-Puna: Belt Overview and Deposit / Commodity Focus

Atacama – Puna total 190,000 ha in

32 pipeline and JV ready projects

World Class Gold + Silver + Copper belts

Our Focus:

• Paleocene Belt High grade gold - silver

• Eocene-Oligocene Giant porphyry Cu

• Mio-Pliocene Giant Oxide Au

JV partner search in progress

• Indra Au +Ag : Paleocene Belt

• Rubi / Odin Cu : Eocene-Oligocene Belt

• Altazor Au : Mio-Pliocene Belt

12


Project Generation: Santa Cruz Argentina High Grade Au+Ag

ATACAMA –PUNA

GENERATIVE

SANTA CRUZGENERATIVE

Previous Mirasol silver discovery successes in Santa Cruz

• Discovery and sale of Joaquin Deposit

• Discovery of Virginia Silver Deposit

Mirasol portfolio of 370,000 ha in 13 projects

Curva-OceanaGold LOI (JV) 3,000 metres drilling and minimum US$1.25, 2017

6 additional JV ready gold and silver projects in Santa Cruz

Objective of delivering new JV deals on near mine projects Short timeline to production/cash flow

Mirasol Claims

JV / Headline Project

Pipeline Project

Jurassic Igneous Rocks

Mine / Development Project

Tertiary Igneous Rocks

13


MIRASOL PROJECT BANKLarge portfolio of quality JV ready projects

Gold / Silver / Copper


15

• Atlas Au-Ag

• Titan Au-Ag

• Curva Au-Ag

• Odin Cu

• Rubi Cu

• Altazor Au

• Indra Au-Ag

• Virginia Ag

• Brahma Au-Ag

• Claudia Au-Ag

• Nico Au-Ag

• Libanesa Ag

• Morito Au-Ag

• Sascha Au-Ag

• Homenaje Au-Ag

Large Drill Ready Portfolio Focused on new JV deals

Gorbea-Yamana Gold JV

Curva-OceanaGold LOI

Minimum of 6,500m of JV funded drilling

Minimum exploration spend of US $ 2.3M

Focused JV Partner Search in

Progress

JV Ready Projects

• Large portfolio of Pipeline Projects new JV ready project

Mirasol Project Bank – Drill Ready Projects Chile and Argentina

Taltal

Nord

Odin

Nix

El Salvador Cluster30 MT Cu

EscondidaCluster140 MT Cu

ChuquicamataCluster130 MT Cu

CentinelaCluster40 MT Cu

Taca Taca12MT Cu

100km

Argentina

Chile

Antofagasta

Santiago

Taltal

Copiapo

Base imagery: SRTM DEM

Syst

em

Rubi

El Salvador Porphyry Cluster3.8 Moz Au30 MT Cu

La Coipa2.7 Moz Au150 Moz Ag

Inca de Oro2.9 Moz Au1.6 MT Cu

20km

PotrerillosPorphyry24 Moz Au10 MT Cu

Mirasol Rubi

Atacama Puna: Odin / Rubi Targeting Porphyry Copper Projects

• Multiple large scale porphyry copper drill targets identified by Mirasol• Adjacent to world class copper mining districts of La Escondida and El Salvador

La EscondidaPorphyry Copper Cluster140 MT Cu

20km

El Penon8.8 Moz Au185 Moz Ag

OdinProject

Oligocene Age Magmatic Centres

Mirasol Copper Project Copper Deposit Paleocene Age Magmatic Centres

Landsat 8 Alteration AnomalyGold DepositMirasol Odin ProjectLegend

Gold Target

Copper Target

16

MIRASOL RESOURCESFocused on gold & silver discoveryAtacama – Puna: Project Copper Odin Project

• Located on world class ChileanPorphyry copper belt

• 20 km from giant La EscondidaPorphyry cluster

• Mirasol application of integrated leading edge explorationtechnologies

• Metal and alteration vectorsoutline exploration model forlarge scale conceptual covered porphyry copper target

Exciting new copper project JV partner search in progress

Hypogene Jarosite ±Pyrophyllite ±

Diaspore± Alunite

Odin Property Boundary

500 metres

Peripheral Cu Mineralization,

Trench Cu grade vector

ConceptualPorphyry

Target

Lim

it o

f p

lR-S

pec

& P

XR

F Sa

mp

ling

Alteration Mineral Temperature Vector

ParagoniteMuscoviteIllitic-

MuscoviteIllite-

Phengite

Lim

it o

f p

lR-S

pec

& P

XR

F Sa

mp

ling

Zone of hypogene Jarosite ± Pyrophyllite ± Diaspore± Alunite

Trench Channel - Assays (Cu ppm)

1500 to 8,050

500 to 1500

100 to 500

50 to 100

25 to 50

15 to 25

5 to 15

Historic drill hole & drill direction

plR-Spec & PXRF data point

Odin 3D Model

Odin cross section

Dipping altered cap rock

Conceptual concealed porphyrycopper target

W

E

Phyllic (paragonitic-sericite) altered cap rock with localized advanced argillic alteration

(±jarosite/pyrophyllite/diaspore/alunite)

Dominate IronOxide transition

17


MIRASOL PROJECTS UNDER JV Gorbea-Yamana JV Curva-Oceana LOI


Gorbea – Yamana Gold JV - Atlas Gold Silver Mio-Pliocene Belt Chile

• Gorbea JV terms for portfolio of 7 projects including the Atlas and Titan projects • 4 years to earn 51% by spending US$ 10M and making US$ 2 million in staged cash payments• Additional 2 years earn 65% by delivering a PEA with minimum resource 1M Oz gold• Additional 1 years earn 75% by delivering a feasibility study, decision to mine and by funding to

production Mirasol’s 25% equity position in the project.

Strong deal terms targeting large stand alone gold discovery

• 2016 season Atlas drilling confirmed large, deeply oxidized high sulphidation epithermal system of the style that has produced bulk minable gold – silver deposits in this mineral belt

• Best results to date include 40 m at 1.38 g/t Au and 17.9 g/t Ag including 28 m at 1.82 g/t Au and 22.0 g/t Ag

• Intersections are deep but up dip potential for near surface mineralization is untested

• A range of additional drill targets warrant testing at Atlas for large scale bulk minable gold mineralization

2nd drill campaign commenced in January 2017 minimum 3,500 metres in 8 holes planned

Atlas

Project

South

America

19

La Curva - OceanGold LOI – Gold Silver Santa Cruz Argentina

New OceanaGold LOI JV

Due diligence completed February 24

Aim to have definitive JV completed by end March

Strong deal with minimum 3,000 metres drill 1st year with Minimum US$1.25 M

3 high calibre drill targets ready to test with additional targets at Curva West

February announcement of exciting new gold results from Cerro Chato prospect

Targeting start of drilling by April 2017

Cerro Chato Prospect

20

MIRASOL RESOURCESFocused on gold & silver discoveryMirasol Resources Looking Ahead News Flow

21

• Drilling underway at Gorbea – Yamana JV Altas project targeting large oxide gold deposit

• Drilling planned for April La Curva – OceanaGold targeting high grade gold and silver

• Pursuing new deals on large package of JV ready projects Atacama – Puna and Santa Cruz

• Odin copper• Rubi copper• Altazor gold• Indra gold - silver

• Initiating exploration on Mirasol’s new pipeline projects in the Atacama – Puna and reactivation of Santa Cruz

• Continuing district consolidation in Santa Cruz Province, Argentina including the high grade Virginia Silver district

• Aggressive project generation in Chile and Argentine delivering a flow of new quality projects to the pipeline


22

Mirasol Resources Summary

Demonstrated track record → Discovery to liquidity event

Conservative share structure 49 million shares issued → Managing our capital structure

Well funded CAD $24.6 million

Strong Joint Ventures drill testing large precious metal projects Gorbea / Curva

Focused on delivering new JV deals on gold – silver – copper

Aggressive counter cyclic project generation program is delivering new quality projects to feed the pipeline

Position to deliver shareholder value creation via discovery in an improving metals market

Please visit our website and register to follow the Mirasol story www.MirasolResources.com
http://www.mirasolresources.com/

mirasol resources corporate update march 2017 · 2017. 3. 2. · mirasol resources focused on gold...

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