Vancouver, British Columbia–(Newsfile Corp. – January 22, 2019) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that it has commenced drilling on its Cerro Hermoso project in southern Peru. Up to 5,000 meters will be drilled in this first phase to test three priority targets.
Bill Pincus, Miramont’s President and CEO said, “We have worked hard over the past year to get to this point and we are tremendously excited to see what we will find with this drilling program. As we continued to investigate the property further we have found new and stronger evidence supporting our prospect model. Our exploration work to date has strengthened expectations that a significant ore deposit is ready to be discovered.”
THE CERRO HERMOSO PROJECT
Cerro Hermoso is a large diatreme-hosted system with various styles of copper, gold and silver mineralization found in a four square kilometer area. It has many similar characteristics to other diatreme systems that are known to host large bulk-tonnage polymetallic deposits.
The three priority drill targets have been identified by a combination of geologic mapping, geochemical sampling and geophysical prospecting. These are known as the Central Breccia Zone (Gold), the Stockwork Zone (Copper/Silver) and the Carbonate Replacement Zone (Polymetallic). All three targets will be tested in the upcoming program.
The three priority targets will all be tested with multiple drill holes. A brief description of each is given below and the reader is referred to the Company’s website (Link) for more information.
Central Breccia Zone
This zone is found within the heart of the diatreme. The formation of gold-bearing hydrothermal breccia, the potential host-rock for mineralization, is extensive. Selective sampling by Miramont has confirmed widespread gold mineralization in this zone with values up to 18 grams per tonne of gold. An IP geophysical study has outlined a significant chargeability anomaly potentially indicating the presence of sulfides at shallow depths.
The Stockwork Zone lies just outside the northern rim of the diatreme. It is a 500 by 400 metre area of widespread stockwork veining and alteration developed within the volcanic flow units. The Stockwork Zone has prominent silver, copper, and gold mineralization throughout the area. Values as high as 500 g/t Ag, 3.9% Cu and 10 g/t Au have been found here. Coincident magnetic and conductivity anomalies indicate the potential for a buried intrusion near surface.
Carbonate Replacement Zone
This zone is known from a review of historic underground mapping. Development on lower levels (approx. 200 metres below surface) encountered carbonate replacement deposits (CRD’s) within an underlying limestone beds. Coincident resistivity and conductivity anomalies may indicate the presence of sulfide bearing limestone units continuing to the northwest.
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, President and CEO
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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