{"id":1159860,"date":"2020-01-14T16:56:20","date_gmt":"2020-01-14T22:56:20","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011285"},"modified":"2020-01-14T16:56:20","modified_gmt":"2020-01-14T22:56:20","slug":"mirasol-enters-option-for-newmonts-inca-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1159860","title":{"rendered":"Mirasol enters option for Newmont\u2019s Inca project"},"content":{"rendered":"<p>Mirasol Resources (TSXV: MRZ) has <a href=\"http:\/\/mirasolresources.com\/mirasol-to-acquire-the-inca-gold-project-in-northern-chile\/\"  rel=\"noreferrer noopener\" aria-label=\"signed an option agreement (opens in a new tab)\">signed an option agreement<\/a> with subsidiaries of Newmont (NYSE: NEM, TSX: NGT) to acquire the Inca gold project in northern Chile. <\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The agreement would give Mirasol the opportunity to add to its portfolio a district-scale and underexplored, intermediate sulfidation epithermal project in the Paleocene belt of Chile.<\/p>\n<p>\u201cThis is an attractive transaction allowing Mirasol to acquire Inca Gold by exploring and drilling the property. If our exploration demonstrates the potential for a Newmont size target, the agreement will allow them to earn back 70% of the project by reimbursing our costs and investing in significant additional exploration expenditures,\u201d said Mirasol president and CEO Norm Pitcher.<\/p>\n<p>Mirasol was granted the option over five years to earn-in 100% of the project, subject to a 1.5% net smelter royalty, by drilling 1,000 metres on the project over two years and incurring $3 million in exploration expenditures over the five-year period.<\/p>\n<p>The 14,000-hectare Inca project is located in Region III of Chile, about 100 kilometres north of Copiapo and 17 kilometres east of the town of Inca de Oro.<\/p>\n<p>Newmont&#8217;s exploration work to date has been limited to surface and prospecting activities, which have identified five target areas, none of which have been drill tested.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newmont has identified five target areas, none of which have been drill tested.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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