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Mirasol reports final Phase 1 drill results at Joaquin, and commencement of Phase 2 drilling at La Negra and La Morocha silver-gold targets
VANCOUVER, April 27 /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, April 27 /CNW/ - Mirasol Resources Ltd. (TSX-V:MRZ, Frankfurt:\nM8R) is pleased to announce that Phase 2 drilling is in progress at the La\nNegra and La Morocha silver-gold discoveries on its 100% owned Joaquin project\nin Santa Cruz province Argentina. Mirasol is also pleased to present the final\nsilver and gold assay results from Phase 1 drilling of these prospects.\n\n\nExploration at the Joaquin Project is being funded and operated by\nMirasol's joint venture partner Coeur d'Alene Mines Corporation ("Coeur").\nCoeur has the option to earn up to 71% of Joaquin by investing US$ 4 million\nover four years, by making staged cash payments to Mirasol, by completing a\nfeasibility study and funding Mirasol's percentage of development costs with\nrepayment recovered from cash flow. The Joaquin project is strategically\nlocated 80 km north of Coeur's Martha high grade silver mine.\n\n\nPreviously reported partial results from Phase 1 drilling at La Morocha\n(see press release dated March 2, 2009) intersected a shallowly-dipping zone\nof breccias, veinlets and disseminated mineralization up to 42 metres wide\nwith encouraging silver grades. Phase 1 drilling (See Figure 1\nhttp://files.newswire.ca/786/LaMorocha.JPG) confirmed that the La Morocha\nstructure is continuously mineralized over a 300 metre strike length, and down\ndip to a depth of 110 metres below surface. All five holes drilled in the La\nMorocha structure returned between 15.8 and 42 metre wide intercepts of silver\nmineralization, with hole DDJ-15 returning two mineralized intervals each over\n20 metres wide (Table 1). Better assays from Phase 1 drilling, calculated at a\n30 g/t silver cut off, include: 30.07 metres @ 104.7 g/t Ag, including 17.96\nmetres of 134.8 g/t Ag; 23.03 metres of 72.2 g/t Ag including 2.8 metres of\n157.9 g/t Ag, and 42.0 metres of 57.2 g/t Ag, including 3.0 metres of 116.5\ng/t Ag. Mineralization at La Morocha remains open at depth and along strike to\nthe north, and results to date suggest a trend to increasing silver grades at\ndepth.\n\n\nPhase 1 drilling at La Negra returned high grade silver and gold from a\n1.1 to 2.8 metre wide, steeply- dipping banded epithermal vein, and its lower\ngrade halo of brecciated and veined wall rock up to 11.4 metres wide. To date,\ndrilling has tested 150 metres of strike length...