Mirasol Resources
Mirasol Resources is a Vancouver-based junior mineral exploration company that generates and advances copper, gold, and silver projects in Chile and Argentina, monetizing discoveries through asset sales and joint venture partnerships with major mining companies.
- Company typePublic
- Founded2005
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Mirasol Resources does
Mirasol Resources Ltd. is a junior mineral exploration company headquartered in Vancouver, Canada, listed on the TSX Venture Exchange (TSX.V: MRZ) and OTCPK (MRZLF). Founded in 2003 by geologists with cumulative Latin American exploration experience exceeding 45 years and incorporated through a 2005 IPO that raised C$1.75 million, the company operates as a project generator focused on copper, gold, and silver discoveries in the mineral belts of Chile and Argentina. Its portfolio spans 18 projects covering over 400,000 hectares, structured across four tiers: self-funded exploration (Sobek), active partnership projects (Claudia, plus Virginia, Nord, Sascha-Marcelina, and Rubi now in sale process), available-for-partnership projects (Altazor, Coronación, Gorbea Belt, Homenaje, La Curva, Libanesa, Osiris, Zeus), and generative programs (Atacama Puna, Santa Cruz).
The company employs systematic exploration methodologies including remote sensing, rock chip sampling, gradient array-IP geophysical surveys, diamond drilling, and trenching, with specialized technical expertise in high-sulfidation epithermal (HSE) gold-silver and porphyry copper-gold systems. Mirasol operates through three revenue mechanisms: (1) asset sales to mining companies (Virginia Silver US$8M, Sascha-Marcelina US$1.5M, Nord US$2.5M, Rubi LOI US$4M, plus Mendoza copper portfolio), (2) joint venture and option payments from partners including Newmont, Newcrest Mining, AngloGold Ashanti subsidiary Cerro Vanguardia SA, First Quantum Minerals, Silver Sands Resources, and OceanaGold, with retained NSR royalties of 1.5-2%, and (3) equity financing via private placements (US$3.05M in 2022, US$7.4M upsized in 2023, US$5M in 2024, US$3M in 2025).
Go-to-market centers on direct engagement with major and mid-tier mining companies seeking to replenish depleting reserves. The company maintains a small team (1-10 employees) with regional operations led from Mendoza, Argentina, by founder and CEO Tim Heenan. Mirasol advances projects to drill-ready stage then transfers exploration risk to partners via option/farm-in structures while retaining royalty upside. Recent corporate activity has been dominated by a portfolio rationalization program divesting non-core assets to concentrate capital on the Sobek Copper-Gold flagship in Chile's Vicuña District.
Mirasol Resources firmographics
Firmographics- Name
- Mirasol Resources
- Legal name
- Mirasol Resources Ltd.
- Website
- https://mirasolresources.com
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Mirasol Resources is a Vancouver-based junior mineral exploration company that generates and advances copper, gold, and silver projects in Chile and Argentina, monetizing discoveries through asset sales and joint venture partnerships with major mining companies.
- Ownership category
- akta.pro rank
Mirasol Resources industry classification
Industry- Product category
- Mineral Exploration
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (21222), Other Metal Ore Mining (212290)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040), Miscellaneous Metal Ores (1090)
- akta.pro primary industry
- Copper Exploration & Resource Development (IMAKADAA)
- akta.pro secondary industry
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
Keywords
Where Mirasol Resources is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Mirasol Resources business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Others
Revenue model
- Asset Sales and Divestitures: Mirasol sells exploration projects or mineral rights to major mining companies. Proceeds from sales of projects including Virginia Silver (US$8M), Nord (US$2.5M), Sascha-Marcelina (US$1.5M), Rubi (LOI US$4M), and portfolio of Mendoza copper projects.
- Joint Venture and Option Payments: Company enters into option agreements where partners fund exploration programs and make staged payments. Partners include Silver Sands Resources, Newcrest Mining, First Quantum Minerals, Mine Discovery Fund, Mineria Activa, and others. Includes retained NSR royalties (typically 1.5-2% NSR) on sold projects.
- Private Placement Financing: Company raises capital through equity financings to fund exploration activities. Multiple private placements completed including $5M (2024), $7.4M (2023), $3.05M (2022), and others.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Mirasol Resources product offering
Product offeringCore offering
Mirasol Resources is a junior mineral exploration company focused on copper, gold, and silver discoveries in the mineral belts of Chile and Argentina. The company operates a project generator model: it acquires and advances early-stage exploration projects through self-funded drilling and field programs, then attracts major mining partners via option/joint venture agreements or divests non-core assets with retained royalties.
Product overview
Mirasol Resources is a mineral exploration company focused on copper, gold, and silver discoveries in Chile and Argentina. The company operates a portfolio-based business model consisting of: (1) Self-funded Exploration - flagship projects the company funds and operates directly, currently focused on the Sobek Copper-Gold Project; (2) Active Partnership Projects - projects under option/joint venture with partners including Claudia, Virginia (sold), Nord (sold), Sascha-Marcelina (sold), and Rubi (LOI for sale); (3) Available for Partnership - a portfolio of early-to-advanced stage exploration projects including Altazor, Coronación, Gorbea Belt, Homenaje, La Curva, Libanesa, Osiris, and Zeus available for joint venture or sale; (4) Project Generation Programs - generative exploration in the Atacama Puna and Santa Cruz regions. The company does not have a unified software product; rather, it offers exploration project investment opportunities and manages exploration activities on behalf of itself and partner companies.
Differentiator
Problem solved
Functional benefit
Products and services
- Sobek Flagship porphyry copper-gold exploration project in the Vicuña District of northern Chile, covering 11,120 ha and self-funded by Mirasol for direct exploration.
- Claudia LSE gold-silver exploration project in Santa Cruz, Argentina covering 69,388 ha, available for partnership.
- Virginia LSE silver exploration project in Santa Cruz, Argentina covering 74,429 ha, previously under option agreement with Silver Sands Resources Corp., sold to Ampere Metals for US$8 million with retained 2% NSR royalty.
- Nord Polymetallic, epithermal, and porphyry exploration project in the Eocene-Oligocene belt of northern Chile covering 1,967 ha, sold to Pursuit Minerals.
- Sascha-Marcelina LSE gold-silver exploration project in Argentina covering 30,600 ha, sold to Pursuit Minerals Ltd. for US$1.5 million plus retained 1.5% royalty.
- Rubi Porphyry copper exploration project in the Paleocene age belt of northern Chile covering 7,500 ha, with LOI signed for sale to San Lorenzo Gold for US$4 million plus 2% NSR royalty.
- Altazor HSE gold exploration project in the Mio-Pliocene age mineral belt of northern Chile covering 33,000 ha, available for partnership.
- Coronación Porphyry and HSE copper/gold exploration project in the Mio-Pliocene age mineral belt of northern Chile covering 1,200 ha, available for partnership.
- Gorbea Belt HSE gold exploration project in northern Chile covering 32,000 ha, previously under joint venture with Newcrest Mining and Yamana Gold, available for partnership.
- Homenaje LSE gold-silver exploration project in Santa Cruz, Argentina covering 11,056 ha, available for partnership.
- La Curva LSE gold-silver exploration project in Santa Cruz, Argentina covering 36,100 ha, available for partnership.
- Libanesa Intermediate Sulphidation Epithermal Au/Ag and base metal exploration project in Santa Cruz, Argentina covering 14,500 ha, available for partnership.
- Osiris Porphyry copper exploration project in the Mio-Pliocene age mineral belt of northern Chile covering 10,000 ha, available for partnership.
- Zeus HSE gold exploration project in the Mio-Pliocene age mineral belt of northern Chile covering 18,600 ha, available for partnership.
- Inca Gold Self-funded copper-gold exploration project spanning 16,300 ha in Region III of Chile's Inca Del Oro mining district, under option agreement with Newmont Corporation which can earn back 70% interest.
- Atacama Puna Program Project generation program focused on the Atacama Puna region, used to identify and acquire new copper, gold, and silver exploration targets.
- Santa Cruz Program Project generation program focused on Santa Cruz province, Argentina, used to identify and acquire new gold and silver exploration targets.
Quantifiable outcome
- Discovered and advanced 12 projects to advanced stage through partnership-funded exploration
Companies that use Mirasol Resources
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles2 records
Mirasol Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Mirasol Resources partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered minor and core.
- San Lorenzo GoldminorLetter of Intent for Rubi Copper Project sale for US$4 million plus 2% NSR royalty. San Lorenzo expanding land position at Cerro Blanco target through option agreement with Mirasol.
- Pursuit Minerals LtdminorSale of Sascha-Marcelina Projects in Argentina to Pursuit Minerals for US$1.5 million plus 1.5% royalty. Included transfer of Marcelina Project option and repayment of CAD$2 million in shareholder loans.
- Ampere MetalscoreSale of Virginia Silver Project and landholdings in Argentina to Ampere Metals for US$8 million. Transaction structured with phased acquisition payments over seven years. Mirasol retained 2% NSR royalty.
- SQM (Sociedad Quimica y Minera de Chile)minorOption agreement on adjacent Rosita Property allowing Mirasol to double the Sobek Copper-Gold Project area through option agreement with SQM.
- AngloGold Ashanti (Cerro Vanguardia SA)coreExploration and option agreement for Claudia Gold-Silver Project in Argentina. Cerro Vanguardia SA, a subsidiary of AngloGold Ashanti, advancing project through partner-funded drilling programs.
- Mine Discovery FundminorDefinitive option agreement for Rubi Copper Project in Chile. Fund provides exploration funding in exchange for option to earn interest.
- Newmont CorporationcoreOption agreement for Inca Gold Project in Chile. Mirasol can earn 100% by drilling 1,000m over 2 years and incurring US$3M exploration over 5 years, subject to 1.5% NSR. Newmont can earn back 70% through staged earn-back provisions.
- Silver Sands Resources Corp.corePartnership for Virginia Silver Project in Santa Cruz, Argentina. Silver Sands funded Phase I and II drill programs with over US$1 million commitment in first year. Mirasol managed exploration activities. Project subsequently sold to Ampere Metals.
- Newcrest Mining LtdcoreBinding Heads of Agreement and subsequent option/farm-in agreements for Gorbea Belt Gold Projects in Chile. Newcrest exercised farm-in option and committed to exploration programs. Also partnered on Altazor and Zeus gold projects under similar structures.
- OceanaGold CorporationminorDefinitive exploration option agreement for La Curva Gold Project in Santa Cruz, Argentina. OceanaGold funded drilling programs. Agreement later terminated in 2019.
- Yamana GoldminorJoint venture on Gorbea Belt Gold-Silver Projects including Atlas. Yamana funded multiple seasons of drilling and option payments. JV later terminated with Mirasol regaining 100% control.
- First Quantum Minerals LtdminorOption agreement for Rubi Copper-Gold Project in northern Chile. First Quantum exercised option but later relinquished. Project subsequently optioned to Mine Discovery Fund.
Scale indicators4 records
Recent moves7 records
Expansion highlights3 records
Mirasol Resources competitors and assessment
Company assessmentDirect peers
- Gold Springs Resource Corp. Junior gold-silver explorer operating a project generator model across the Americas, comparable to Mirasol's portfolio approach. Similar early-stage discovery profile and partnership-driven exploration strategy.
- Pampa Metals Corp. Copper-focused junior explorer with projects in Chile and South America, pursuing a similar project generator / JV-funded model. Comparable exploration-stage copper portfolio and partner-driven development approach.
- Patagonia Gold Corp. Gold-silver explorer and developer with assets in Patagonia, Argentina (Santa Cruz province) — the same region as Mirasol's Claudia, Virginia, and Sascha-Marcelina projects. Closely comparable geography and target deposit style.
- Austral Gold Limited: Precious metals producer and explorer with operations in Argentina and Chile, including the Casposo/Amancaya mines in San Juan. Comparable South American footprint and exposure to gold-silver in the Andes.
- Silver Sands Resources Corp. Junior silver explorer that was both a Mirasol JV partner (Virginia Silver) and operates the same project generator model on adjacent ground in Santa Cruz, Argentina. Closely matched business model and asset profile.
- New Pacific Metals Corp. Silver-gold explorer focused on the Silver Sand project in Bolivia and other South American precious metals assets. Similar junior explorer profile with project-generator characteristics in the broader Andean belt.
Broad incumbents
- Filo Corp / NGEx Minerals (now Vicuña Corp. via merger): Copper-gold explorers operating in the same Vicuña District as Mirasol's flagship Sobek project. Larger and more advanced, with multi-billion-ounce copper-gold discoveries (Filo del Sol, Josemaria) — directly comparable geology and address, and a benchmark for Sobek's potential scale.
Emerging players
- Heliostar Metals Ltd. Junior gold-silver explorer pursuing acquisitions and exploration across the Americas, including projects in Mexico and the U.S. Comparable early-stage project generator approach focused on epithermal gold-silver systems.
- SolGold plc: Copper-gold explorer with the flagship Alpala project in Ecuador. Larger and more advanced than Mirasol but operating with a comparable copper-gold porphyry exploration thesis in South America.
- Fitzroy Minerals Inc. Junior minerals explorer with copper-gold-silver projects in Chile and Argentina, including the Buen Retiro and Polimet projects. Directly comparable early-stage South American exploration portfolio and partnership-driven model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Mirasol Resources social profiles
Digital presenceMirasol Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mirasol Resources leadership team
Management profileNumber of profiles
Profiles7 records
Mirasol Resources subsidiaries and ownership
Company hierarchySubsidiaries1 record
Mirasol Resources funding detail
Funding detailFunding overview
Funding rounds7 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mirasol Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mirasol Resources
What does Mirasol Resources do?
Mirasol Resources is a junior mineral exploration company focused on copper, gold, and silver discoveries in the mineral belts of Chile and Argentina. The company operates a project generator model: it acquires and advances early-stage exploration projects through self-funded drilling and field programs, then attracts major mining partners via option/joint venture agreements or divests non-core assets with retained royalties.
Is Mirasol Resources a public or private company?
Mirasol Resources is a public company. It is classified as public and is currently operating.
When was Mirasol Resources founded?
Mirasol Resources was founded in 2005. It employs 1 to 10 people.
Where is Mirasol Resources based?
Mirasol Resources is headquartered in Vancouver, Canada, in the North America region.
How does Mirasol Resources make money?
Three revenue lines are on record. Asset Sales and Divestitures are the primary driver. The others are joint Venture and Option Payments and private Placement Financing.
Who are Mirasol Resources's main competitors?
Direct peers on record are Gold Springs Resource Corp., Pampa Metals Corp., Patagonia Gold Corp., Austral Gold Limited, Silver Sands Resources Corp. and New Pacific Metals Corp.. Filo Corp / NGEx Minerals (now Vicuña Corp. via merger) is listed as a broad incumbent. Emerging players are Heliostar Metals Ltd., SolGold plc and Fitzroy Minerals Inc..
Does Mirasol Resources have an API?
No public API is recorded for Mirasol Resources.
What industry is Mirasol Resources in?
Mirasol Resources's product category is Mineral Exploration. Its primary akta.pro industry code is IMAKADAA, Copper Exploration & Resource Development, with a secondary code of IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling). Its NAICS code is 212230 and its SIC code is 1000.