Business
Mirasol Reports initial results from Phase 4 drilling and commencement of Phase 5 drill programs at the Joaquin Project, Argentina
Mirasol Reports initial results from Phase 4 drilling and commencement of Phase 5 drill programs ...
About this update from Mirasol Resources Ltd
[{"type":"text","content":"\n\n\n\n Jul. 22, 2010 (Canada NewsWire Group) -- \n \n\n \n\n\n\n\nVANCOUVER, July 22 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) is pleased to announce initial results from Phase 4 drilling at Mirasol's Joaquin Silver Project, which hosts the La Negra and La Morocha silver targets, including results from sections of the La Negra high grade silver zone. In late May, Mirasol's JV partner Coeur d'Alene Mines Corporation ("Coeur") initiated an aggressive exploration program that includes a Phase 5 drilling program and an extensive surface exploration program. Coeur has budgeted US$3.3 million in exploration at the Joaquin Project in 2010.\nComplete assays are now available for the initial four holes (DDJ-64 to DDJ-67) of Phase 4 drilling. These holes were designed to further test the geometry of the soil covered, high grade silver mineralization previously intersected in holes DDJ-43 and 58 (news release of Jan 11, 2010) at the northern end of the La Negra trend. This sector includes exceptionally high grade silver intercepts.\nDDJ-64 to DDJ-67 were drilled from west to east (Figure 1 and Figure 2) with all four holes intersecting silver mineralization (Table 1). Intercepts of greater than 1,000 grams/tonne (g/t) silver are present in three holes and broader bulk mineable style silver intercepts are present in all holes. Better down hole intercepts include 19.5 metres at 153 g/t silver including 0.6 meters of 1,880 g/t silver with 0.62 g/t gold, and 31.5 meters of 105 g/t silver including 1.7 metres at 1,051 g/t silver with 0.31 g/t gold.\n\n\n >\n\n\nPreviously interpretations of the La Negra high grade silver mineralization suggested it was part of a northerly-trending, westerly-dipping zone. The distribution of new silver intersections now suggests that there are multiple zones of mineralization with a complex and incompletely understood geometry. Interpretation of how the mineralized zones connect and the number and shape of the mineralized bodies is hampered by the lack of outcrop and will require further drilling to be better understood.\nThe completed Phase 4 drilling campaign comprised 3,794 metres in 26 holes. This includes a total of 22 holes drilled at La Negra prospect including 18 holes drilled to the north, west and east of the main mineralized corridor. At the La Morocha prospect, 4 new hol...