High Grade Silver From The La Negra Zone At Joaquin

 

VANCOUVER, BC - Mirasol Resources Ltd. reported results from the second phase of drilling from the La Negra zone at the Joaquin Project. These results continue to build on the encouraging silver assays recently reported from Mirasol's Morocha prospect located 1.5 km to the west of La Negra and previously released drill results from La Negra itself (April 27, 2009). Best true width intersections from the present round of drilling include a zone of 7.45 metres grading 703.8 grams per tonne (g/t) silver within a broader zone of 48.2 metres grading 194.4 g/t silver.

The 100% Mirasol owned Joaquin project contains four precious metal prospects including the silver-rich La Morocha and La Negra zones. Joaquin is located in the province of Santa Cruz, southern Argentina, which is host to four operating precious metal mines. Exploration at Joaquin is being funded and operated by Mirasol's joint venture partner Coeur d'Alene Mines Corporation who can earn an initial 51% interest and up to 71% in Joaquin by meeting certain obligations (see news release of November 20, 2006). Coeur operates the high grade Martha silver mine located 80 km to the south of the Joaquin project.

Coeur recently completed a second phase diamond drill program at Joaquin, including eight core holes (DDJ-31 - 38) totalling 1,095.9 metres at La Negra. All holes intersected silver dominant mineralization with lesser gold values. Results include multiple individual assays over 1,000 g/t silver and gold assays up to 6.37 g/t. Best true width intersections at a 30 g/t silver cut off from this round of drilling were returned from DDJ-38. These results include of 7.45 metres of 703.8 g/t silver and 0.13 g/t gold, and 15.96 metres of 200 g/t silver and 0.08 g/t gold.

Preliminary interpretations suggest up to three parallel zones of mineralization have been intersected to date at La Negra. These appear to be sub-vertical or dip at up to 70 degrees to the northeast. In hole DDJ-38 it appears that the three parallel zones of mineralization tend to merge with the intervening rock mineralization commonly grading 20 - 30 g/t Ag. The average grade of the full mineralized intercept, including intervening wall rock has a true width of 48.2 metres of 194.4 g/t silver and 0.08 g/t gold. The gram-metre product of the combined three zones is the highest of any holes drilled to date at either La Negra or La Morocha and a result which compares favourably with other known bulk tonnage silver deposits.

The company’s address is Suite 1510, 789 West Pender Street, Vancouver, BC V6C 1H2, (604) 602-9989, fax: (604) 609-9946, email: [email protected].