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Mirasol reports the start of 1,600 metre drill program at Nico silver-gold project
VANCOUVER, Aug. 12 /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, Aug. 12 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt:\nM8R) is pleased to announce the start of a 1,600 metre drilling program by its\njoint venture partner, Coeur d'Alene Mines ("Coeur"), at its 100% owned Nico\nsilver gold project located in the prolifically mineralized Province of Santa\nCruz in southern Argentina.\n\n\nThe Nico project is strategically located adjacent to a provincial\nhighway some 40 kilometres to the north of Coeur's high grade Martha silver\nmine and in the same area as Mirasol's new silver discovery at the Joaquin\nproject (Figure 1\nhttp://www.mirasolresources.com/i/photos/nico/NR090812_Fig1.jpg).\n\n\nThis program represents the first drilling test at Nico. Drilling of\nfourteen holes totalling approximately 1,600 metres is proposed to test a\nseries of outcropping silver and gold geochemical anomalies and covered\ngeophysical targets at the Tito Vein zone and the Carlos Breccia (see press\nrelease of May 27, 2008).\n\n\nAt the Tito Vein zone, three trends of sub meter wide breccias and\nepithermal veins have returned precious metal assays from chip samples up to\n324 g/t silver and 8.6 g/t gold. Gradient array IP geophysical studies outline\na series of resistive and chargeable anomalies, which underlie the Tito Vein\ntrend, suggesting the potential for larger bodies of mineralization at depth.\n\n\nThe Carlos Breccia is a zone over 500 metres long by up to 50 metres wide\ncomprising crackle-brecciated volcanic rocks with low temperature\nsilica-hematite matrix. Breccia samples returned consistently anomalous\nsilver, gold and base metal assays, with seven samples containing over 10 g/t\nsilver and strongly elevated epithermal pathfinder elements. The Carlos\nBreccia is underlain by a 1,200 by 800 metre zone of strongly chargeable\ninduced polarization (IP) geophysical anomalies that may represent concealed\nsulphide-rich material which carry grades of silver, gold and base metals.\n\n\nOngoing exploration at the Nico project is 100% funded by Mirasol's joint\nventure partner, Coeur d'Alene Mines Corporation (Coeur). The terms of the\nagreement (see press release of February 12, 2009) provide that Coeur spend US\n$2.3 million in exploration and cash payments over four years to earn a 55%\ninterest in the property, and a 65% interest on completion of a bankable\nfe...