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Mirasol Resources Regains 100% Interest in the High-Grade Virginia Silver Deposit, Argentina, following Termination of Option Agreement
Virginia hosts Indicated Resource of 11.9 million ounces at 310 g/t silver and Inferred Resource of 3.1 million ounces at 207 g/t silver Approx. $US3.4M of expl
About this update from Mirasol Resources Ltd
[{"type":"text","content":" Virginia hosts Indicated Resource of 11.9 million ounces at 310 g/t silver and Inferred Resource of 3.1 million ounces at 207 g/t silver Approx. $US3.4M of exploration funded by Silver Sands under Option Agreement 70 holes for over 10,250m of diamond drilling, 47 trenches for a total of 2,300m and 190km of IP Electrical geophysics completed New discovery of high-grade mineralization discovered at the Margarita Vein Untested regional targets and prospective gaps in the current resource areas exist in addition to strong evidence for continuing mineralization both down-dip and along the strike extensions of the current known vein structures VANCOUVER, British Columbia, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) announces that it has regained an unencumbered 100 percent interest in the Virginia Silver Deposit (“Virginia” or the “Deposit”) in the Santa Cruz Province of Argentina following the termination of the option to purchase agreement (“Option Agreement”) with Silver Sands Resources Corp. (“Silver Sands”) (see news release May 21, 2020). Prior to termination of the Option Agreement, Silver Sands funded more than US$3.4 million in exploration advancing the Virginia Deposit including over 10,250 meters of diamond drilling, 2,300 meters of trenching and 190 kilometers of IP Electric geophysics. “Virginia is a valuable high-grade silver deposit in a prolific silver mining region,” noted Mirasol’s President Tim Heenan. “The results from drilling over the last three years, including new high-grade silver discoveries, confirm the potential to build on the current resource base. Newly discovered outlying targets highlight the untested ‘blue sky’ potential of the deposit. Regaining control of Virginia provides an opportunity for Mirasol to continue resources delineation and advance the Virginia Silver Deposit through feasibility studies, permitting and development.” Virginia Silver Deposit Discovered by Mirasol in 2009, the Virginia Silver Deposit hosts a high-grade, intermediate sulfidation epithermal style mineralization in a series of prominent outcropping vein-breccias associated with a rhyolitic volcanic flow dome field. In 2016, after completing a series of drill programs, Mirasol filed an amended NI 43-101 Resource Estimate with an indicated mineral resource o...