Miramont Receives Positive Results From Geophysical Survey At Cerro Hermoso
Vancouver, BC – February 26, 2018 Miramont Resources Corp. (CSE: MONT) (“Miramont” or the “Company”) is pleased to announce that it has completed a geophysical survey of its Cerro Hermoso project in southern Peru. Induced polarization (full-waveform distributed array AG-DAS), resistivity and ground magnetic data were collected by Arce Geofísicos with quality control and interpretation by Ellis Geophysical Consulting.
The survey has been successful in identifying different rock types, structural controls and most importantly, shows significant correlation between surface mineralization and the location of the chargeability and magnetic highs in the subsurface. These results reinforce Miramont’s understanding of the project’s geology and will be a significant aide in drill hole targeting.
Key conclusions of the survey related to the priority targets are:
Stockwork Zone – A priority target characterized by extensive stockwork veining, alteration and high copper, gold and silver geochemistry.
- This area is dominated by a high chargeability (IP) and high resistivity signature that extends to depth. Coincident with these anomalies is an area of high magnetic susceptibility (see figures 1 and 2).
- The magnetic high, together with the IP/Resistivity anomalies, support Miramont’s interpretation that the Stockwork Zone is sitting on top of a large potentially mineralized intrusive body.
Central Breccia Zone – The second priority target lies entirely within the diatreme. This zone hosts the most extensive surface gold mineralization on the property.
- The boundary of the diatreme (a key geologic feature related to mineralization) has been well defined in the subsurface.
- An elevated IP and resistivity signature extends in a north-south direction underlying the areas with the best surface gold anomalies. This is a possible indication that surface mineralization extends into the subsurface.
- Magnetic susceptibility lows within the diatreme itself may identify several internal source areas. This supports Miramont’s interpretation that the diatreme was formed by multiple pulses of explosive hydrothermal activity indicating a long-lived and energetic system.
Carbonate Replacement Zone – This priority target is known largely from historic descriptions of underground working areas where massive sulfide containing zinc, lead, and silver and copper has been found in limestone units.
- High chargeability (IP) coupled with high resistivity has been identified trending from the Carbonate Replacement Zone to the southern boundary of the Stockwork Zone.
- This has good continuity at depth and is coincident with a magnetic low that may indicate a limestone host.
- The geophysical signature taken together with the geologic interpretation suggests both the occurrence of sulfide minerals and presence of limestones consistent with carbonate replacement mineralization.
Maps accompanying this announcement are available on the Company’s website.
The completion of geophysical survey is the last phase prior to finalizing drill hole locations. Results of the survey allow Miramont geologists to refine their mineral deposit model and better plan drill holes within the priority target areas (see Press Release from January 10, 2018). Miramont is now completing all steps necessary to begin drilling as soon as possible. The environmental assessment has been delivered to Peruvian authorities for final approval, construction of an on-site core laboratory will begin shortly and the company is now contacting local drilling contractors with requests for proposals.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. William Pincus, CPG, President and CEO of Miramont and a Qualified Person as defined by National Instrument 43-101.
About Miramont Resources Corp.
Miramont is a Canadian-based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s key assets are located in southern Peru. The Cerro Hermoso property hosts a 1.4km diameter breccia pipe targeting gold - polymetallic mineralization, while the Lukkacha property is targeting porphyry copper mineralization.
On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.
William Pincus, President and CEO
For more information, please contact the Company at:
Telephone: (604) 398-4493
Facsimile: (604) 815-0770
Figure 1 – Image of magnetic susceptibility (MV Inversion Perpendicular Component). Note the high magnetic response underlying the stockwork zone (upper section of image). This is a slice of the 3D inversion taken at 200 meters below surface. Region of the Induced Polarization/ Chargeability survey is outlined above (in blue).
Figure 2 - Image of chargeability as a horizontal slice 200 meters below surface. Note the formation of a chargeability high under the Stockwork Zone as well as the north-south, finger-like high under the Central Breccia Zone.
This release includes certain statements and information that may constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information. Generally, forward- looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward- looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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