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
received.
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 met.
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 required standards.
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.