Joaquin Silver Project Commences Phase Four Drilling
VANCOUVER, BC - Mirasol Resources Ltd. report the start of the Phase 4 drill program at its Joaquin silver-gold project in Santa Cruz Province, southern Argentina. Coeur d'Alene Mining Corporation, Mirasol's joint venture partner and the project operator, recently announced plans to spend US $3.3 million during 2010 in step-out drilling and further exploration at Joaquin. Mirasol also wishes to report final results for the Phase 3 drilling campaign at Joaquin, completed in late November, 2009. Total metres drilled at the Joaquin project to the end of Phase 3 are 8,611 metres in 63 diamond drill holes.
Coeur 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 reach 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
The Phase 4 drill program at Joaquin will explore for extensions to the known mineralized zones at the La Morocha and La Negra targets, and further test the La Negra high-grade silver zone. The Phase 4 program will commence with 100 metre step out holes on trend to the north of the La Morocha and La Negra mineralized trends. Similarly spaced holes are proposed to the east and west of La Negra to test newly identified high-grade outcropping silver mineralization and to further explore covered parallel silver trends discovered in Phase 3 drilling. It is anticipated that Phase 4 drilling may include infill holes between the widely-spaced drilling that has been done to date.
As part of the Phase 4 program, four closely-spaced holes (35 - 45 metre spacing) are planned to test the high-grade silver vein discovered in holes DDJ-43 and 58 at the present northern limit of the La Negra silver trend (press releases of Nov. 24, 2009 and Jan. 11, 2010). These holes are sited from west to east to test the interpretation that the high-grade, zone is steeply west-dipping. This drilling should allow better estimates of the true thickness of mineralization in holes DDJ-43 and 58 which are at present estimated at 9.6 and 7.4 metres, respectively.
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