Miramont Identifies New Copper-Rich Target at Cerro Hermoso
(TheNewswire)
Vancouver, BC / TheNewswire / May 30, 2018 - Miramont Resources Corp. (CSE: MONT, OTCQB: MRRMF, FR: 6MR) (“Miramont” or the “Company”) is pleased to announce it has identified a new copper-rich target at its 100% controlled Cerro Hermoso project in southern Peru. The samples were collected from a “dike swarm” which has cut overlying volcanic rocks. All 55 samples the Company collected from this new target contain significant copper with 44 reporting over 1000 ppm Cu and the highest, 10,750 ppm Cu (1.08%). Silver is also elevated with 14 samples containing greater than 15 ppm Ag with the highest being 130 ppm Ag (4.2 ounces per tonne). The target covers an area of 300 by 600 meters adjacent to the southeastern boundary of the diatreme that dominates the Cerro Hermoso project.
The Company also reports that 29 samples were collected in the Carbonate Replacement Zone. Sixteen of 29 samples contained greater than 1000 ppm Cu including 74,840 ppm, 60,480 ppm and 50,860 ppm (7.5%, 6.0% and 5.1% Cu respectively). Additionally, 12 of the 29 samples contained greater than 15 ppm Ag including 575 ppm, 401ppm and 260 ppm (18.8, 13.1 and 8.5 ounces/tonne respectively). This provides further support for the potential to discover high-grade carbonate replacement mineralization below surface.
Quinton Hennigh, Miramont’s Chairman commented, “Cerro Hermoso presents a target-rich intrusive and eruptive center. Not only do we see potential for a large volume of mineralized breccia within the diatreme complex, we are compelled by potential for replacement style precious- and base-metal mineralization within limestone encircling the diatreme and beneath volcanic cover. Such a system is seen at the nearby San Gabriel deposit. Our team’s recent discoveries of stockwork mineralization and breccia dikes containing mineralized intrusive clasts add yet another intriguing target to this picture, a possible mineralized intrusion at depth. Cerro Hermoso keeps delivering better and better indications it is host to a large mineralized center. We look forward to commencing our first phase of drilling in the coming weeks.”
New Copper – Rich Target
Samples from the copper – rich target were taken from a swarm of breccia dikes comprised predominantly of clasts, or rock fragments, of two phases of mineralized coarse-grained, intermediate-composition igneous rocks. Other clasts include limestone and andesitic volcanic rocks. All rock types contain metal. Mineralized clasts contain variable amounts of native copper, chalcopyrite, chalcocite and copper-oxides. Magnetite is also abundant and closely associated with copper mineralization. Dikes are generally up to a few meters wide.
Miramont believes this newly discovered dike swarm provides strong evidence of a buried polyphase, mineralized intrusive center containing significant copper and silver mineralization at depth. Its relationship to the recently discovered stockwork mineralized intrusive center on the opposite side of the diatreme (see the Company’s news release dated Jan. 10, 2018 further details) provides further evidence that the Cerro Hermoso project is underlain by a complex, expansive mineralizing, intrusive center that presents multiple high quality drill targets.
Photos accompanying this news release can be found on the Company’s website.
Miramont will soon mobilize a diamond core drill to Cerro Hermoso to begin testing its three priority targets. Miramont anticipates drilling this newly discovered zone upon completion of geophysical surveys designed to help refine drill targets and upon amending current drill permits to encompass this new area. Up to 5000 meters of drilling are planned as a first phase program at Cerro Hermoso.
The samples reported were largely select samples of mineralized clasts and veins. They were not taken systematically but are considered highly anomalous and indicate a range of potential mineralization.
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 two key projects are Cerro Hermoso and Lukkacha, both located in southern Peru. Cerro Hermoso is a diatreme-hosted copper dominant polymetallic prospect. Lukkacha is a classic copper-porphyry prospect.
On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.
“William Pincus”
William Pincus, President and CEO
For more information, please contact the Company at:
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Breccia dike cutting volcanic flow units. Note angular to rounded clasts of coarse grained intrusive fragments.
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Igneous clast from dike containing abundant copper oxide (blue material) and native copper. The “nail test” is a common field tool to identify copper.
Reader Advisory
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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