Additional Results for the La Negra Deposit/Joaquin Silver Project
VANCOUVER, BC - Mirasol Resources Ltd. reported results from infill drilling at the La Negra deposit, Joaquin Silver Project in Santa Cruz Province, Argentina. Highlights include a near-surface "manto" intercept of 31 metres grading 301 grams per tonne ("g/t") silver and 0.26 g/t gold, that includes an intercept of 5.0 metres containing 1,081 g/t silver and 1.20 g/t gold in oxide mineralization east of the feeder zone in the central part of the deposit. In the northern part of the deposit, a shallow sulphide intercept returned 13.0 metres of 996 g/t silver and 1.47 g/t gold including 2.9 metres of 4,168 g/t silver and 1.53 g/t gold.
The Joaquin Project is a joint venture between Mirasol and Coeur d'Alene Mines. Coeur is the operator with a vested 51% interest in the project and has recently elected to proceed to increase its equity to 61% by funding all expenditures through to the delivery of a feasibility study. Additional diamond drilling was recently completed at the project. Results are now available for 9 holes drilled at the La Negra deposit, all sited within the area of the previously defined mineral resource. Regional exploration drilling results will be discussed in a separate press release. The Joaquin NI 43-101 compliant, within-pit resource estimate currently stands at 19.6 million ounces of silver in the Indicated category and 47.9 million ounces of silver in the Inferred category. Coeur has stated that the current holes were drilled "in support of commencement of feasibility work". Two of the nine new holes were drilled in the central part of La Negra to confirm the presence of the modeled "manto" (flat-lying) oxide resources, one on either side of the sub-vertical feeder zone. Both encountered multiple intercepts of oxide silver mineralization. Hole DDJ-141, east of the feeder zone, hit four separate intercepts of mineralization above a 20 g/t silver equivalent (AgEQ) cutoff.The best of these intercepts has a core length of 31 metres grading 301 g/t silver and 0.26 g/t gold and includes an intercept of 5.0 metres with 1,081 g/t silver and 1.20 g/t gold. This intersection represents the highest silver gram-metre product interval on this cross section through the "manto" to date. Both holes confirmed the presence of the modeled mantos as seen in plan and cross section. At the northern end of La Negra, sulphide mineralization was previously discovered at shallow depths in hole DDJ-43 under soil cover with no outcrop exposures. In the resource model the geometry of the mineralization in this area was also interpreted as a steeply-dipping feeder with gently-dipping manto zones. In this phase seven holes were drilled in the north area to test the model. These holes all intersected near-surface silver mineralization.As with previous drilling, several of the new holes returned very high grade silver mineralization with associated gold. Highlights of these holes include DDJ-156 with 13.0 metres of 996 g/t silver and 0.42 g/t gold, including 2.9 metres of 4,168 g/t silver and 1.53 g/t gold. The new drill holes appear to confirm that the geometry of the mineralization in the northern area includes both steep and gently dipping bodies. However, mineralization in DDJ-159 returned 34.4 meters of 216 g/t silver starting from seven metres down hole, well above the depth predicted by the resource model (Fig. 3c) suggesting the "manto" may be thicker, and nearer surface in this area, than previously modeled.