Precious Metals

Mirasol Resources Ltd. reported that prospecting and reconnaissance mapping has resulted in the discovery of new high-grade silver mineralization at its Virginia project.

Mirasol Resources Ltd. (TSXV:MRZ) reported that prospecting and reconnaissance mapping has resulted in the discovery of new high-grade silver mineralization at its 100 percent owned Virginia project in Santa CruzArgentina.

As quoted in the press release:

1.Extending the strike-length of the undrilled Margarita vein located 300 meters west of the Virginia resource area

2.Infilling and extending the new Julia south dome trend

3.Identifying a series of high-grade silver-vein breccia trends, suggesting the presence of undiscovered veins at the new East Zone target.

Rock chip sampling of silver mineralization at Margarita has returned assays ranging from below detection (BDL, <0.5g/t Ag) up to 1,723.3 grams per tonne of gold from outcrop, subcrop and float blocks of epithermal veins up to 1.5 m wide. Surface silver mineralization at Margarita has now been traced over a 450 meters strike-length as defined by 65 trench and rock chip samples which have an overall average of 366.0 grams per tonne of gold (11.8 oz/t1 Ag).

The newly recognized Julia south dome trend is defined by intermittent vein and vein-breccia subcrop and float samples which extend 2.15 kilometers south from the limits of drilling defining the resources at Virginia. This trend is currently defined by 144 rock chip samples with assays ranging from BDL to a peak assay of 6,586.3 grams per tonne of gold, averaging 186.8 grams per tonne of gold  (6.0 oz/t Ag). Assays report to epithermal vein-breccia blocks that range up to 0.88 meters in width.

The new east zone target covers a 1.2 kilometers x 600 meters area where rock chip sampling of subcropping epithermal vein-breccia and aligned float blocks have returned high-grade silver assays defining multiple north west and north east oriented, interpreted structural trends, which are individually up to 1 km in length.  rock chip assays from the east zone range from BDL to a peak of 2,609.7 grams per tonne of gold.  A total of 150 rock chip samples have been collected at the prospect, returning an average of 176.2 grams per tonne of gold (5.7 oz/t Ag), with 15 samples exceeding 500 gams per tonne of gold. The angular shape of the vein block float in this area indicates that they have not been transported far from source, suggesting the potential for undiscovered, high-grade veins, under thin soil cover.

The high-grade silver assays returned from Margarita, Julia south dome and east zone targets suggests the potential to significantly expand the district size of Virginia project.  Detailed exploration, including surface electrical geophysics, trenching and shallow drilling are required to further test these new target areas. Mirasol has recently announced a non-brokered private placement with the objective of funding accelerated exploration and drilling of targets at Virginia and other gold and silver projects in Mirasol´s Santa Cruz portfolio.

Click here to read the full Mirasol Resources Ltd. (TSXV:MRZ) press release.


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