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Mirasol Exploration Update for the Claudia Project and Start of Second Phase Reconnaissance Drilling
VANCOUVER, Jan. 8 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ; Frankfurt: M8R) is pleased to prese...
About this update from Mirasol Resources Ltd
[{"type":"text","content":"\n\n\n\nVANCOUVER, Jan. 8 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ; Frankfurt:\nM8R) is pleased to present an exploration update and announces the\ncommencement of a 4000 metre reverse circulation (RC) drill campaign at its\n100% owned Claudia Project, covering 1,195 square kilometres of claims\nadjacent to Anglogold Ashanti's 5 million ounce Cerro Vanguardia gold mine in\nSanta Cruz Province, Argentina.\n\n\nOngoing exploration at the Claudia Project is 100% funded by Mirasol's\njoint venture partner, London- listed Hochschild Mining Plc. (LN:HOC). The\nterms of this agreement provide that Hochschild invest US $6 million in\nexploration over 4 years and make cash payments to Mirasol to earn 51% of the\nproject, with further provisions to reach up to 75% interest in the Claudia\nproperty (news release February 26, 2007).\n\n\nExploration Update\n------------------\n\n\nA comprehensive program of exploration is ongoing at Claudia (Figure 1).\nTo date, this includes surface rock chip sampling and geological mapping of\nepithermal veining and outcropping Jurassic volcanic units. A 4,300 line km\nhigh resolution ground magnetic survey, 93 line kms of gradient array\nIP/resistivity geophysical surveys, and orientation MMI (Mobile Metal Ion)\nsoil sampling, were completed. Phase one reconnaissance diamond drilling,\ntotaling 3,780 metres was completed in late 2007 to test multiple targets,\nboth outcropping and covered, on the western side of the property.\n\n\nGold and silver mineralization has now been identified in rock chip and\nsoil sampling at five prospects across the Claudia claims. As previously\nannounced, the best rock chip assays report to vein zones at the Vanguardia\nSur prospect, immediately south of the Cerro Vanguardia Mine leases, and at\nthe Rio Seco vein zone located some 20 kms to the southeast. These prospects\nrespectively host 4.0 kms and 2.8 kms of outcropping vein trend, and both\noccurrences extend under shallow gravel cover. Best rock chip results from\nVanguardia Sur (news release August 3rd 2006) include 0.9 g/t gold and 167 g/t\nsilver with strongly anomalous lead and zinc, while best results from the Rio\nSeco zone (news release November 25th 2005) returned channel samples of up to\n0.7 meters at 14.2 g/t gold and 229 g/t silver, associated with elevated\nindicator elements of antimony, arsenic and me...