VANCOUVER, March 27 /CNW/ - Mirasol Resources Ltd. (TSXV:MRZ, Frankfurt:
WKN:AOF4Z5; M8R) is pleased to announce that its joint venture partner Coeur
d'Alene Mines ("Coeur") has commenced drilling at its wholly-owned Sascha
gold-silver Project located within the prospective Jurassic volcanic rocks of
Santa Cruz Province, Argentina. The Sascha Project is included in the
Mirasol-Coeur Joint Venture (see news release dated November 20, 2006).
The Sascha project is a 4.4 km long, intermittently outcropping low
sulphidation epithermal quartz vein zone. Previous rock chip sampling has
demonstrated anomalous gold and silver mineralization along the vein trend,
with local indications of bonanza grades in the Sascha Main target (see news
release dated February 21, 2006). An independent 43-101 compliant Technical
Report for the Sascha Project is available on www.sedar.com.
Since finalizing the joint venture agreement, Coeur has completed an
aggressive exploration program along the vein zone to refine and add to drill
targets identified by Mirasol. The Coeur exploration program includes 356 line
kilometres of detailed ground magnetics, 3,400 metres of infill trenching and
mapping, and 24 line kilometres of gradient array geophysics.
The initial drill program calls for approximately 2,400 metres of diamond
drilling in 21 holes to test a range of geochemical, structural and
geophysical targets in the Sascha Main zone. Additional holes are planned to
test targets in the Sascha Central and Sascha Sur zones during this round of
The terms of the Joint Venture provide Coeur with the option to earn 51%
interest in Mirasol's 100%-owned Sascha and Joaquin projects, by spending
$400,000 on each project during the first year, and $4 million total on each
project over four years, with additional cash payments. Coeur may increase its
interest to 61% in either project by completing a feasibility study, and at
Mirasol's election, further increase its interest to 71% by providing mine
financing on commercial terms to Mirasol. Coeur is the operator of the Joint
This press release has been prepared by Stephen Nano, VP of Exploration
for Mirasol Resources Ltd., a qualified person under 43-101 regulations.
Quality Assurance/Quality Control: Exploration at Mirasol's Projects is
supervised by Mirasol's Exploration Manager, Timothy Heenan, and Vice
President Exploration, Stephen Nano, both qualified persons under NI 43-101.
All technical information for the Company's projects is obtained and reported
under a formal quality assurance and quality control (QA/QC) program.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
For further information:
For further information: Mary L. Little, President & CEO, Tel: (604)
602-9989, Fax: (604) 688-8852, Email: firstname.lastname@example.org, Website:
www.mirasolresources.com; Bruce Korhonen, Investor Relations, Ascenta Capital
Partners, Inc., Tel: (644) 684-4743 ext 230, or 1-866-604-4743, Email: