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Mirasol commences a 1,700-metre drill program at Joaquin and extends the La Morena gold zone
VANCOUVER, Nov. 17 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ; Frankfurt: M8R) is pleased to anno...
About this update from Mirasol Resources Ltd
[{"type":"text","content":"\n\n\n\nVANCOUVER, Nov. 17 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ; Frankfurt:\nM8R) is pleased to announce the discovery of extensions to the Morena gold\nprospect and the start of a 1,700 metre scout drill program at its 100% owned\nJoaquin high grade gold silver project, Santa Cruz province, southern\nArgentina.\n\n\nOngoing exploration at the Joaquin project is 100% funded by Mirasol's\njoint venture partner, Coeur Argentina S.R.L., a wholly-owned subsidiary of\nCoeur d'Alene Mines Corporation. The terms of the option agreement (news\nrelease November 20, 2006) require Coeur to invest US $4 million in\nexploration over 4 years and make cash payments to Mirasol to earn 51% of the\nproject, with option to increase interest to 61% by completing a feasibility\nstudy, and furthermore increase interest to 71% by funding Mirasol's\npercentage of development costs.\n\n\nPrevious exploration by Mirasol identified four discrete, high grade\ngold/silver vein and breccias prospects: the La Morena, La Morocha, La Negra\nand Joaquin Main and North zones (see news releases of June 10, 2005 and\nJanuary 20, 2006).\n\n\nDuring 2007 and 2008, Coeur carried out surface sampling and mapping at\nLa Morena, a gradient array IP/resistivity survey, and a 556-metre scout drill\nprogram at Joaquin Main.\n\n\nAt Morena, Mirasol geologists originally defined a 400 metre long zone of\nmultiple parallel veins and breccias that returned an average of 4.3 g/t gold\nfrom 53 surface channel samples and a best assay of 1.1 metres at 20.03 g/t\ngold. Recent mapping and sampling by Coeur suggests the zone may extend for 3\nkilometres, with surface rock chip sampling on extensions of the original\nprospect returning multiple anomalous assays with a peak result of 5.42 g/t Au\nand 11 g/t Ag.\n\n\nAt Joaquin Main, a gradient array IP/Resistivity survey performed by\nCoeur defined a 2 kilometre long, NW-oriented geophysical anomaly that is\nlargely covered by shallow soil and alluvium. Previous sampling by Mirasol\nreturned bonanza-grade gold and silver assays from oxidized float samples at\nthe south east end of the anomaly of up to 222.9 g/t gold and 1606.0 g/t\nsilver. During early 2008, Coeur drilled 5 holes under the float samples. Four\nof the six holes intersected a veined structure between 25 and 44 metres down\nhole, with a peak assay of 1.2 meters at 1...