Drill Results Extend Morocha Silver Zone

 

VANCOUVER, BC - Mirasol Resources Ltd. reported the completion of the second phase of drilling at the La Morocha and La Negra zones at the Joaquin Project and to report further encouraging silver results from La Morocha. Assay results are pending for the La Negra zone and will be reported when finalized. The second phase of drilling at La Morocha has encountered higher grade than the first phase, including 9.4 metres of 501.1 g/t (grams/tonne) silver.

The Joaquin property is hosted by Jurassic age volcanic rocks of the Deseado Massif, Santa Cruz Province, southern Argentina. Exploration at Joaquin is being funded and operated by Mirasol's joint venture partner Coeur d'Alene Mines Corporation. Coeur operates the high grade Martha silver mine, one of four precious metals mines in the province, which is located 80 km to the south of the Joaquin project.

Seven diamond drill holes totalling 970.90 metres were drilled during the second phase program at La Morocha. The mineralization at Morocha is silver dominant with gold intersections to date having a maximum value of 0.35 g/t. Multiple individual assays of greater than 500 g/t silver were returned from this round of drilling, with a peak assay of 0.95 m at 2,573 g/t silver. Best true width intersections from this round of drilling include 22.5 m of 179.4 g/t silver and 9.4 m of 501.1 g/t silver.

The La Morocha zone has now been tested with 13 diamond drill holes totalling 1,650 metres along a strike length of 870 metres and down to a maximum depth of 105 metres below surface (155 metres measured down the dip of the structure). Of the four holes collared at the southeast part of the zone, one hole (DDJ-29) encountered silver mineralization, whereas three holes (DDJ-27, 28 and 30) may not have intersected the zone due to structural complexities. The remaining holes have intersected silver mineralization.

Better intersections from 9 of the 13 holes outline an apparently continuously mineralized, 550 metre long structure that dips at between 50 and 70 degrees to the northeast. The recent Phase 2 drilling program has returned the best silver intersections to date from holes DDJ-25 and 26. Drilling to date also suggests a strong vectoring for increasing silver grade at depth. Applying a 30 g/t cut off, the zone is between 9.4 metres and 41.3 metres wide, with assay results from 46.5 g/t to 501.0 g/t silver. The mineralization remains open at depth and towards the northwest along trend.

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].