VANCOUVER, March 4, 2013 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) Mirasol has completed a 25 hole, 2,599 metre reconnaissance drill
campaign and a follow-on 1,216 metre Phase 2 trenching program at the
Rio Seco prospect at its 100 % owned Claudia gold silver project in
Santa Cruz province, Argentina. The Claudia project is contiguous
with Anglogold Ashanti's Cerro Vanguardia operating gold-silver mine
hosted within the prolific Deseado Massif volcanic province.
Nine of 25 diamond drill holes at Rio Seco (Figure 1) returned anomalous gold and silver assays (Table 1). The greater than 1 gram per tonne (g/t) gold equivalent (grams of
gold + (grams of silver/55) at 0.25 g/t gold equivalent cut-off),
confirm widespread anomalous precious metal mineralization at Rio
Seco. Better drill results include individual assay of up to 0.83
metres at 6.59 g/t gold and 139.3 g/t silver (9.12 g/t gold equivalent)
and broad intersections of anomalous gold and silver up to 15.3 metres
of 0.29 g/t gold and 50.9 g/t silver (1.22 g/t gold equivalent).
The majority of anomalous drill results are clustered around the
structural intersection of the "Loma Alta Trend" and "Rio Seco Main"
veins (Figure 1), which center on a covered resistive geophysical anomaly, the "Oculto
Zone". The overall structural setting of this zone is interpreted by
to be a dilational jog, a structural setting which hosts economic
concentrations of precious metals elsewhere in Santa Cruz province.
Significant drill results for the Rio Seco program were returned from
holes CRS_dh_06 and -19 (Figure 2) on the Loma Alta Trend and at the edge of the Oculto Zone, and were
drilled on-section beneath the best Phase 1 trench result of 1.8 metres
at 1.19 g/t gold and 73.7 g/t silver (news release March 5, 2012). A
shallow hole, CRS_dh_06, intersected a series of high-level epithermal
veins and vein-breccia, approximately 30 metres below the trench, over
an estimated true width of 15 metres. Down hole intersections in this
zone include 5.5 metres at 1.01 g/t gold and 37.9 g/t silver (5.5
meters of 1.70g/t of gold equivalent), and the majority of the zone
was gold and silver anomalous. The deeper hole, CRS_dh_19, intersected
the same vein zone at approximately 80 metres below the trench. Here
the vein zone has an estimated true width of 28 metres and best down
hole intersection returned 15.5 metres at 0.29 g/t gold and 50.87 g/t
silver (15.5 meters of 1.22 g/t of gold equivalent)..
These drill results show increasing width of the vein zone at depth and
increasing contained precious metals expressed as gram-metres of gold
equivalent (width of grade interval multiplied by assayed gold +
(silver/55)). This vectoring-to-depth and the high-level epithermal
vein textures suggest that even the deepest drilled intersections are
near the top of the projected mineralized zone and that deeper
drilling is warranted to test for higher-grade gold and silver.
The Phase 2 trenching program completed at Rio Seco totaled 1,216 metres
in 31 trenches (Figure 3). Phase 2 trenching was largely focused along the Loma Alta Trend but
also tested a number of sites at the edge of the Oculto Zone.
Importantly, Phase 2 trenching was successful in extending the Loma
Alta vein trend for an additional 900 metres to the southwest, and
returned individual assays of up to 6.9 g/t gold and up to 448 g/t
silver, which has defined multiple new drill targets.
Drilling and the subsequent Phase 2 trenching has improved the
understanding of the structural controls on mineralization in the Rio
Seco vein zone, and provided focus and justification for further
drilling and the testing of new targets at the Loma Alta and Oculto
zones. Mirasol's Exploration focus has shifted to the Curahue trend,
located in the western sector at Claudia, where extensive trenching,
surface mapping and new Gradient Array IP electrical geophysical survey
is underway. Mirasol will update on these results as they are
Mirasol's in-house quality assurance procedures identified potential
analytical laboratory issues with some of the original assay results
delivered by the independent assay laboratory. Mirasol worked with the
laboratory to re-analyze sample pulps, and in some cases re-sampled the
core intervals, in order to resolve these issues and to ensure
compliance under best practices and that industry- standard QA/QC were
Stephen C. Nano, Vice President of Exploration for Mirasol, is the
Qualified Person under NI 43-101 who has approved the technical content
of this news release.
Quality Assurance/Quality Control:
Exploration at the Claudia Project is supervised by Stephen C. Nano,
Vice President of Exploration, who is the Qualified Person 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. All Drill Rock chip and stream sediment
samples are collected under the supervision of Company geologists in
accordance with standard industry practice. Samples are dispatched via
commercial transport to an ISO 9001:2000-accredited laboratory in
Argentina for analysis. All rock chip and drill samples are submitted
to the Laboratory with independently sourced, accredited standard and
blanks and where appropriate duplicate samples to facilitate monitoring
of laboratory performance. Certified Results are examined by an
independent qualified consultant to ensure laboratory performance meets
Assay results from diamond drill core or RC drill samples may be higher,
lower or similar to results obtained from surface samples.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Mirasol Resources Ltd.
For further information:
Mary L. Little
President and CEO
Tel: (604) 602-9989: Fax: (604) 609-9946