Mirasol Updates Joaquin Project Phase Three Drilling Results with Additional High Grade Silver Values
VANCOUVER, BC, January 11, 2010 – Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) is pleased to announce additional encouraging silver results from the third phase of drilling from the La Negra and La Morocha prospects at Mirasol’s Joaquin Project, and the discovery of new outcropping silver zones surrounding La Negra. New drill results at La Negra include an intercept of 17.3 metres of 1,979 grams per tonne (g/t) silver and 0.29 g/t gold in a 36 metre step out hole to the previously reported high-grade intercept in hole DDJ-43 (press release of November 24, 2009).
Coeur d’Alene Mines Corporation (“Coeur”), Mirasol’s joint venture partner and project operator, holds an option to acquire up to 61% interest in Joaquin through exploration expenditures and by completing a bankable feasibility study, and a further 10% to 71% interest if project financing is provided at the request of Mirasol. The Joaquin project is located in the Area of Special Interest for Mining in Santa Cruz, Argentina where mining development is favoured and four precious metal mines are currently operating.
Coeur completed a total of 4,338.5 metres in 25 core holes during the third phase of exploration drilling at Joaquin completed in late November 2009. Results are pending for five holes totaling 898.5 metres.
New results from drilling within the mineralized corridor at La Negra (Table 1 and Figure 1) have returned encouraging results from holes DDJ-46 and DDJ-58. DDJ-46 shows that the mineralized corridor is wider than was originally thought, returning an intercept of 61.1 metres grading 83 g/t silver and 0.18 g/t gold (95 g/t silver equivalent). Within this intercept is an interval of 0.9 metre grading 1,850 g/t silver, 4.68 g/t gold (2,154 g/t silver equivalent). Hole DDJ-58 is a 36 metre step out to the north of the high-grade mineralization previously reported in DDJ-43. DDJ-58 returned an intercept of 17.3 metres of 1,979 g/t silver and 0.29 g/t gold including a very high grade interval of 4.2 metres of 7,584 g/t silver and 0.96 g/t gold.
Read the rest of today’s news release at the Company website here.
