Mirasol Resources Ltd.

Published : August 07th, 2012

Reports Coeur's Updated Resource Estimate for the Joaquin Project with 39.7 Million Measured + Indic

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Keywords :   Argentina | Chile | Cœur D'alene | Diamond | Gold | Recovery | Silver |

Mirasol Reports Coeur's Updated Resource Estimate for the Joaquin Project with 39.7 Million Measured + Indicated, plus 31.7 million Inferred Silver Ounces Accessible by Open Pit

VANCOUVER, BC, August 7, 2012. Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) is pleased to announce the second National Instrument 43-101 resource estimate for the Joaquin Silver-Gold Project, Santa Cruz Province, Argentina, as prepared by an independent consultant for Mirasol's joint venture partner, Coeur d'Alene Mines ("Coeur"). The estimate is an in-pit resource for the La Negra and La Morocha deposits, and includes 39.7 million ounces of silver in the measured and indicated categories, and 31.7 million ounces of silver in the inferred category, when both oxide and sulphide mineralization are combined for the two adjacent deposits (Table 1, Figure 1).

Table 1.  Resources Joaquin Project Totals

Mineral Type and Category Tonnes (000) Silver g/t Silver oz. (000) Gold g/t Gold oz.
Total of Oxides & Sulphides
Measured 1,800 95.8 5,600 0.10 6,000
Indicated 11,900 89.2 34,100 0.10 36,600
Meas. + Indic. 13,700 90.1 39,700 0.10 42,600
Inferred 8,300 118.3 31,700 0.07 19,800
Mineral resources that are not mineral reserves have not demonstrated economic viability

The estimate was prepared according to NI 43-101 standards and in accordance with CIM Standards on Mineral Resources and Reserves: Definitions and Guidelines (CIM 2005) by independent consulting firm NCL Ingenieria y Construcci�n Ltda. ("NCL") of Chile, which was selected and contracted by Coeur, and who also performed the original NI 43-101 resource estimate (press release May 9, 2011).

Also, a significant amount of infill Diamond drill hole data was not incorporated into the current estimate due to time constraints, particularly from the La Morocha deposit. Mirasol has received assay results from many of the omitted holes, that include the best hole (DDJ-277) containing a 35.3 metre core length intercept of 704 grams per tonne (g/t) silver and 0.24 g/t gold, which includes 15.3 metres of 2,372 g/t silver and 0.90 g/t gold. The infill holes in the Morocha deposit confirm grade and continuity, and Mirasol expects their eventual inclusion will further increase the confidence classification of the resource, and perhaps also increase the average silver grade. (Table 4 and Appendix 1).

Geological data was used to separate the mineralization into oxide and sulphide types, and discreet mineralized bodies were defined by geology and grade shells to spatially limit the assay data. At Morocha, a single tabular body, dipping moderately north-easterly, was defined. At La Negra, a sub-vertical feeder and sub-horizontal manto (planar tabular) bodies were defined.

The in-pit resources have been computer-modeled by Whittle� Pit mine shells designed using the technical parameters determined by Coeur's Technical Services Group and accepted by NCL (Table 2). They include Coeur's current estimates of the operating costs and parameters. Sufficient work has not yet been done to classify the resources as reserves and the parameters used in Table 2 are considered to be preliminary in nature. The resources are not demonstrated to have economic viability at this stage, but are believed to have a reasonable probability of doing so, when required additional engineering studies are completed.

Table 2. Parameters used for Whittle� Pits
Parameter Units May 2011 August 2012
La Morocha La Negra
Open Pit Mining US$/tonne $2.00 $2.79 $2.82
Oxide Leaching $14.50 $13.93 $13.93
Sulphide Processing $28.00 $20.75 $20.75
Reclamation - $0.04 $0.04
Incremental Tailings - $0.75 $0.75
Silver -- smelting $US/ounce $0.50 $0.15 $0.15
Gold -- smelting $10.00 $7.50 $7.50
Transport & Refining - $2.50 $2.50
Royalty (Argentina) % - 3 3
Silver -- price $US/ounce $20 $30 $30
Gold -- price $1,300 $1,500 $1,500
Pit Slope Angle degrees 50 50 50
Oxide Silver Recovery % 70 70 70
Oxide Gold Recovery 85 85 85
Sulphide Silver Recovery 86 86 86
Sulphide Gold Recovery 92 92 92
Cut-off Oxide (resource reporting) grams/tonne 33 Silver equivalent 25 Silver 25 Silver
Cut-off Sulphide (resource reporting) grams/tonne 51.9 Silver equivalent 37 Silver 37 Silver


Resources reported herein are only those within the pit shell designed using the parameters in Table 2, and only those within the pit shells that exceed the cut-off grade. Project-specific metallurgical test work is at preliminary stage at Joaquin. Additional test work has been performed since the initial resource estimate, however it was decided not to change the assumptions of the metallurgical recovery parameters. It was determined that lower processing costs are to be expected for the oxide mineralization than the sulphide mineralization (Table 2) and this was incorporated into the pit design. The sulphide mineralization is, however, higher grade on average. For the purposes of reporting the current resource estimate results, a cut-off grade of 25 g/t silver was used for oxide mineralization, and a cut-off of 37 g/t silver was used from sulphide mineralization for mineralization within the pit design. Most of the resource is comprised of oxide mineralization (74% of the silver ounces) with lesser sulphide mineralization (26% of the silver ounces). The majority of the sulphide mineralization is found at La Morocha where it occurs beneath oxide mineralization.

The current resources are tabulated on a project-wide basis (Table 1), as well as separately for the La Morocha (Table 3A) and La Negra (Table 3B) deposits, and are differentiated by category into those resources categorized as Measured and Indicated (with greater confidence levels) and Inferred (lesser confidence level), and by mineralization type into oxide and sulphide types. Individually, on a tonnage basis, the La Negra resource has progressed from 53% Indicated with no Measured in May 2011 to a current combined 89% Measured and Indicated classification (Figure 2). At La Morocha in May 2011 there was no Measured and 4% Indicated and this has now progressed to Measured and Indicated of 27%. On a project-wide basis, 62% of the resource tonnes have now been classified as Measured and Indicated while the remaining 38% are classified as Inferred. This is a large increase over the initial resource estimate (May 2011) in which 34% of the total tonnes were classified as Indicated and the remainder as Inferred.

Table 3A. Resources La Morocha Deposit
Mineral Type and Category Tonnes (000) Silver g/t Silver oz. (000) Gold g/t Gold oz.
Oxides
Measured 500 81.2 1,400 0.05 900
Indicated 1,600 82.3 4,300 0.05 2,600
Meas. + Indic. 2,100 82.0 5,700 0.05 3,500
Inferred 5,400 98.0 16,900 0.06 9,600
 
Sulphides
Measured 100 275.7 900 0.14 500
Indicated 400 258.5 3,000 0.15 1,700
Meas. + Indic. 500 262.4 3,900 0.15 2,200
Inferred 1,500 222.2 10,900 0.13 6,400
 
Total of Oxides & Sulphides
Measured 600 113.3 2,300 0.07 1,300
Indicated 2,000 114.4 7,300 0.07 4,300
Meas. + Indic. 2,600 114.1 9,600 0.07 5,700
Inferred 6,900 125.4 27,800 0.07 16,000


Table 3B. Resources La Negra Deposit
Mineral Type and Category Tonnes (000) Silver g/t Silver oz. (000) Gold g/t Gold oz.
Oxides
Measured 1,100 84.5 2,900 0.12 4,300
Indicated 9,300 82.1 24,500 0.10 30,400
Meas. + Indic. 10,400 82.4 27,400 0.10 34,700
Inferred 1,100 77.8 2,800 0.08 2,900
 
Sulphides
Measured 100 106.7 400 0.09 300
Indicated 600 114.7 2,300 0.09 1,900
Meas. + Indic. 700 113.6 2,700 0.09 2,200
Inferred 300 105.3 1,100 0.09 1,000
 
Total of Oxides & Sulphides
Measured 1,200 86.5 3,300 0.12 4,600
Indicated 9,900 84.2 26,800 0.10 32,300
Meas. + Indic. 11,100 84.4 30,100 0.10 36,900
Inferred 1,400 84.0 3,900 0.08 3,900

Due to time constraints, NCL was unable to include 29 infill holes and 2 metallurgical holes at the Morocha deposit, and 13 infill and expansion holes at the La Negra deposit in the estimate (Figures 3 and 4). Results of infill drilling at La Morocha have been very successful in confirming the current resource, and infill drilling cut some of the longest intercepts and highest silver grades to date (Figure 3, Tables 3 and 4, and Appendices 1 and 2). Mirasol expects that incorporation of these unused holes at La Morocha will significantly increase the percentage of tonnes in the Measured and Indicated categories, which currently represent 27% of the total tonnes, to a much higher percentage, as occurred at La Negra where the percentage increased from 53% as Indicated to 89% as Measured and Indicated, when the infill holes were included (Figure 2).

Table 4. Highlights of Drill Intercepts Not Included in the Current Resource Estimate
Drill Hole Inter-cept From (metres) To
(metres)
Intercept length (metres) Core Recv. (%) Silver
(g/t)
Gold
(g/t)
AgEQ
(g/t)
AgEQ gram- metre product
La Morocha -- Infill Holes Not Included in Current Resource
DDJ-263 1st 114.6 147.0 32.4 97 184 0.19 196 6,368
DDJ-265 1st 67.9 92.0 24.1 100 129 0.04 131 3,160
DDJ-267 2nd 76.0 116.0 40.0 98 298 0.08 303 12,138
including   88.6 96.1 7.5 98 437 0.07 441 3,302
including   101.0 107.3 6.3 97 1,166 0.45 1,195 7,531
DDJ-269 1st 118.0 145.0 27.0 95 110 0.32 130 3,519
DDJ-270 1st 66.0 106.0 40.0 98 161 0.00 161 6,422
DDJ-271 2nd 145.5 175.0 29.5 97 654 0.16 664 19,583
including   150.2 153.8 3.6 95 4,257 1.23 4,337 15,396
DDJ-272^ 1st 17.0 37.0 20.0 90 151 0.00 151 3,023
DDJ-275^ 1st 85.2 107.0 21.8 97 209 0.00 209 4,546
DDJ-276 1st 95.0 119.0 24.0 96 384 0.05 387 9,293
including   107.0 112.0 5.0 100 1,551 0.00 1,551 7,756
DDJ-277 1st 129.0 164.3 35.3 98 1,253 0.46 1,283 45,294
including   131.0 139.5 8.4 99 704 0.24 720 6,081
including   149.0 164.3 15.3 97 2,372 0.90 2,430 37,178
DDJ-279+ 1st 166.0 196.0 30.0 99 149 0.09 154 4,631
DDJ-280+ 1st 13.0 90.0 77.0 92 53 0.01 54 4,167
DDJ-282+ 1st 68.0 124.0 56.0 98 185 0.00 185 10,371
including+   99.2 104.0 4.8 100 1,197 0.00 1,197 5,804
DDJ-283+ 1st 117.0 165.0 48.0 95 348 0.67 391 18,776
including+   135.0 142.0 7.0 95 1,384 0.00 1,384 9,689
including+   152.0 157.0 5.0 94 515 5.43 868 4,340
La Negra -- Expansion Holes Not Included in Current Resource
DDJ-228 2nd 84.0 92.0 8.0 95 174 0.00 174 1,391
DDJ-233 1st 98.0 105.0 7.0 94 80 0.02 82 571
DDJ-233 4th 128.0 139.0 11.0 69 139 0.60 178 1,958
DDJ-237 1st 47.0 69.0 22.0 89 96 0.02 97 2,136
DDJ-237 2nd 83.0 94.0 11.0 90 63 0.00 63 696
DDJ-238 1st 29.0 42.0 13.0 95 79 0.20 92 1,192
- Silver equivalent is calculated as AgEQ g/t = Ag g/t + 65 x Au g/t. Metallurgical recoveries are assumed to be 100%.
- Primary intersections are calculated at a cutoff grade of 20 g/t with some internal dilution allowed at the discretion of the project's Qualified Person.
- "Included" intersections are calculated at a 50 g/t or higher cutoff grade.
- Reported grades are not capped.
- Estimated true widths have not been calculated and the AgEq gram metre product is thus based on the uncorrected core lengths of the intercepts
- + indicated holes are considered preliminary pending QA/QC data for certified standards
- ^ the two indicated holes have 5m gaps in sampling which are assumed to have zero grade herein


Currently Mirasol holds a 49% interest in the Joaquin Joint Venture. Coeur may earn a 61% interest by completing a full feasibility study that meets criteria for bank financing, which is currently underway. On delivery of the feasibility study, Mirasol may retain a 39% participating interest or, at its election, request that Coeur provide mine financing, and in return Coeur may increase its participation to 71% in the project if it elects to proceed to the next stage.

Mirasol looks forward to future upgrades in the confidence classification of the Joaquin Project resources through incorporation of unused drill data, as well as expansion through the exploration for new deposits on this highly prospective property. At the present time, results are pending on 34 drill holes (DDJ-284 to 315), most of which were drilled on new exploration targets. The new resource estimate presented here represents a significant increase in confidence in the geometry, nature and grade of the La Negra and La Morocha silver-gold deposits and thus reduces uncertainty and shareholder risk associated with the resources. It also represents a significant step towards Coeur's goal of completing a feasibility study which meets bank finance criteria.

NCL and Coeur have provided technical information to Mirasol upon which Mirasol is relying. NCL is currently finalizing a NI 43-101 Technical Report describing in detail the methods and work on the Joaquin Project resource on behalf of Mirasol, which will be made available on SEDAR at www.sedar.com within the next 45 days. Methods used by NCL in the current resource estimate are in general similar to those used in the previous estimate (as posted on SEDAR on June 23, 2011).

Paul G. Lhotka, Principal Geologist for Mirasol, and the Qualified Person for Mirasol under NI 43-101, has summarized and approved the technical content of this news release and the drilling results presented here which are not included in the updated resource estimate.

For further information, contact:
Mary L. Little
President and CEO

Tel:(604) 602-9989; Fax:(604) 609-9946

Email: contact@mirasolresources.com
Website: www.mirasolresources.com

Quality Assurance/Quality Control:
Coeur d'Alene operates the Joaquin Joint Venture and generated the drilling data used in this news release and reported it to Mirasol. Drill core samples were submitted to Alex Stewart (Assayers), Argentina S.A. and ALS Laboratories, both ISO 9000-2000 accredited laboratories located in Mendoza, Argentina. Gold and silver results were determined using standard fire assay techniques on a 30 gram sample with a gravimetric finish for gold and silver. Coeur's QAQC program includes the insertion of blanks, standards and duplicates into the sample stream for Joaquin drill holes. Mirasol has performed an independent analysis of the QAQC data generated by Coeur. Dr. Paul Lhotka has reviewed the Coeur data, calculated the intercepts in this news release, and is a qualified person as defined by National Instrument 43-101.

Assay results from subsurface 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.


Appendix 1. Complete Results of Drill Intercepts Not Included in the Current Resource Estimate
Drill Hole Inter-cept From (metres) To
(metres)
Intercept length (metres) Core Recv. (%) Silver
(g/t)
Gold
(g/t)
AgEQ
(g/t)
AgEQ gram metre product
La Morocha -- Holes
DDJ-253* 1st 129.0 174.0 45.0 94 215 0.16 225 10,129
including*   148.3 158.0 9.7 96 479 0.37 502 4,874
DDJ-254* 1st 124.0 151.0 27.0 99 211 0.07 215 5,817
including*   136.0 140.0 4.0 99 533 0.04 536 2,143
DDJ-254* 2nd 155.0 162.0 7.0 97 104 0.46 134 937
DDJ-254* 3rd 176.0 181.3 5.3 99 78 0.39 103 542
metallurgical holes DDJ-253 and 254 were previously published, but are not included in the current resource estimate
DDJ-255 1st 67.0 68.0 1.0 97 156 0.00 156 156
DDJ-255 2nd 83.1 83.4 0.3 100 169 0.00 169 42
DDJ-255 3rd 89.0 90.0 1.0 100 57 0.00 57 57
DDJ-255 4th 115.0 118.0 3.0 91 256 0.08 262 785
DDJ-256 1st 43.0 57.0 14.0 98 104 0.00 104 1,459
DDJ-256 2nd 81.0 88.0 7.0 82 24 0.00 24 167
DDJ-257 1st 41.0 68.0 27.0 92 78 0.00 78 2,106
DDJ-258 1st 100.0 102.0 2.0 100 55 0.00 55 110
DDJ-258 2nd 107.0 109.0 2.0 97 317 0.00 317 635
DDJ-258 3rd 112.0 115.0 3.0 100 53 0.00 53 159
DDJ-258 4th 119.0 120.0 1.0 93 138 0.00 138 138
DDJ-259 1st 123.0 131.0 8.0 99 157 0.00 157 1,252
DDJ-259 2nd 183.0 186.0 3.0 96 16 0.67 59 178
DDJ-260 1st 141.0 143.0 2.0 98 40 0.00 40 80
DDJ-260 2nd 175.0 177.0 2.0 98 21 0.00 21 42
DDJ-260 3rd 196.5 199.0 2.5 100 31 0.86 87 217
DDJ-261 1st 14.0 32.9 18.9 100 23 0.00 23 425
DDJ-262 1st 69.0 105.0 36.0 98 76 0.00 76 2,738
DDJ-263 1st 114.6 147.0 32.4 97 184 0.19 196 6,368
DDJ-264 1st 143.7 145.0 1.3 91 34 0.04 37 50
DDJ-264 2nd 165.0 185.0 20.0 78 99 0.10 105 2,106
DDJ-264 3rd 198.0 204.0 6.0 79 66 0.04 69 413
DDJ-264 4th 210.7 218.0 7.3 97 81 0.00 81 591
DDJ-265 1st 67.9 92.0 24.1 100 129 0.04 131 3,160
DDJ-265 2nd 109.0 112.7 3.7 96 245 0.00 245 905
DDJ-266 1st 6.0 27.0 21.0 82 59 0.00 59 1,245
DDJ-266 2nd 30.0 37.0 7.0 91 24 0.00 24 170
DDJ-266 3rd 41.0 59.5 18.5 96 48 0.00 48 897
DDJ-267 1st 57.0 66.0 9.0 100 35 0.00 35 319
DDJ-267 2nd 76.0 116.0 40.0 98 298 0.08 303 12,138
including   88.6 96.1 7.5 98 437 0.07 441 3,302
including   101.0 107.3 6.3 97 1,166 0.45 1,195 7,531
DDJ-267 3rd 121.2 123.0 1.8 96 95 0.00 95 171
DDJ-268# 1st 18.0 69.0 51.0 97 34 0.00 34 1,716
DDJ-269 1st 118.0 145.0 27.0 95 110 0.32 130 3,519
DDJ-269 2nd 150.0 153.6 3.6 95 35 0.26 52 188
DDJ-269 3rd 156.6 161.0 4.4 98 69 0.07 73 326
DDJ-270 1st 66.0 106.0 40.0 98 161 0.00 161 6,422
including   80.2 81.8 1.6 100 1,602 0.00 1,602 2,483
including   90.5 93.0 2.5 99 400 0.00 400 1,001
DDJ-270 2nd 118.0 123.0 5.0 99 23 0.00 23 115
DDJ-271 1st 125.6 135.5 9.9 99 57 0.00 57 564
DDJ-271 2nd 145.5 175.0 29.5 97 654 0.16 664 19,583
including   150.2 153.8 3.6 95 4,257 1.23 4,337 15,396
DDJ-272^ 1st 17.0 37.0 20.0 90 151 0.00 151 3,023
Including   33.0 34.7 1.7 78 1,301 0.00 1,301 2,212
DDJ-273 1st 108.0 126.0 18.0 97 117 0.00 117 2,113
DDJ-273 2nd 132.2 134.0 1.8 100 83 0.75 132 244
DDJ-274 1st 53.0 66.0 13.0 97 44 0.00 44 577
DDJ-274 2nd 69.0 97.4 28.4 99 67 0.02 68 1,944
DDJ-275^ 1st 85.2 107.0 21.8 97 209 0.00 209 4,546
DDJ-276 1st 95.0 119.0 24.0 96 384 0.05 387 9,293
including   107.0 112.0 5.0 100 1,551 0.00 1,551 7,756
DDJ-277 1st 129.0 164.3 35.3 98 1,253 0.46 1,283 45,294
including   131.0 139.5 8.4 99 704 0.24 720 6,081
including   149.0 164.3 15.3 97 2,372 0.90 2,430 37,178
DDJ-278 1st 30.0 51.0 21.0 97 54 0.11 61 1,278
DDJ-279+ 1st 166.0 196.0 30.0 99 149 0.09 154 4,631
DDJ-280+ 1st 13.0 90.0 77.0 92 53 0.01 54 4,167
DDJ-281+ 1st 81.0 88.0 7.0 90 72 0.65 114 801
DDJ-281+ 2nd 95.0 99.0 4.0 98 18 0.96 80 320
DDJ-281+ 3rd 107.0 110.0 3.0 92 44 0.00 44 131
DDJ-282+ 1st 68.0 124.0 56.0 98 185 0.00 185 10,371
including+   99.2 104.0 4.8 100 1,197 0.00 1,197 5,804
DDJ-282+ 2nd 144.0 150.0 6.0 87 52 0.78 102 611
DDJ-283+ 1st 117.0 165.0 48.0 95 348 0.67 391 18,776
including+   135.0 142.0 7.0 95 1,384 0.00 1,384 9,689
including+   152.0 157.0 5.0 94 515 5.43 868 4,340
La Negra -- Holes
DDJ-228 1st 77.0 80.0 3.0 98 39 0.00 39 118
DDJ-228 2nd 84.0 92.0 8.0 95 174 0.00 174 1,391
DDJ-229 1st 50.0 60.0 10.0 97 86 0.07 91 908
DDJ-229 2nd 79.0 99.0 20.0 98 34 0.00 34 680
DDJ-229 3rd 109.0 114.0 5.0 97 110 0.00 110 552
DDJ-229 4th 122.0 127.0 5.0 71 77 0.00 77 387
DDJ-230 1st 30.0 47.0 17.0 95 37 0.00 37 625
DDJ-231 1st 25.0 41.0 16.0 88 64 0.00 64 1,028
DDJ-231 2nd 55.0 66.0 11.0 92 49 0.15 59 649
DDJ-232 1st 90.0 92.0 2.0 100 42 0.00 42 84
DDJ-232 2nd 120.0 123.0 3.0 96 38 0.05 42 125
DDJ-233 1st 98.0 105.0 7.0 94 80 0.02 82 571
DDJ-233 2nd 113.0 117.0 4.0 98 45 0.17 56 224
DDJ-233 3rd 121.0 123.0 2.0 95 30 0.00 30 59
DDJ-233 4th 128.0 139.0 11.0 69 139 0.60 178 1,958
DDJ-234 1st 15.0 35.0 20.0 90 28 0.14 37 737
DDJ-234 2nd 75.0 77.0 2.0 90 30 0.00 30 59
DDJ-235 1st 124.0 126.0 2.0 95 33 0.00 33 65
DDJ-235 2nd 129.0 133.0 4.0 64 32 0.00 32 127
DDJ-235 3rd 138.0 143.0 5.0 95 124 0.00 124 619
DDJ-236 1st 112.0 128.0 16.0 88 50 0.00 50 801
DDJ-236 2nd 134.0 137.0 3.0 86 76 0.00 76 227
DDJ-236 3rd 141.0 143.0 2.0 90 56 0.00 56 112
DDJ-237 1st 47.0 69.0 22.0 89 96 0.02 97 2,136
DDJ-237 2nd 83.0 94.0 11.0 90 63 0.00 63 696
DDJ-237 3rd 97.0 99.0 2.0 83 32 0.00 32 64
DDJ-238 1st 29.0 42.0 13.0 95 79 0.20 92 1,192
DDJ-238 2nd 48.0 70.0 22.0 95 41 0.00 41 904
DDJ-238 3rd 83.0 88.0 5.0 92 126 0.00 126 629
DDJ-238 4th 93.0 100.0 7.0 91 36 0.00 36 254
DDJ-248 1st 21.0 23.0 2.0 100 54 0.00 54 108
DDJ-248 2nd 28.0 39.0 11.0 98 117 0.00 117 1,287
DDJ-248 3rd 47.0 50.0 3.0 100 301 0.00 301 903
DDJ-248 4th 54.0 55.0 1.0 100 43 0.80 95 95
DDJ-250 1st 24.0 26.0 2.0 100 48 0.00 48 96
holes DDJ-239 to 247, and 249 are included in the current estimate, hence they are not listed here
- Silver equivalent is calculated as AgEQ g/t = Ag g/t + 65 x Au g/t. Metallurgical recoveries are assumed to be 100%.
- Primary intersections are calculated at a cutoff grade of 20 g/t with some internal dilution allowed at the discretion of the project's Qualified Person.
- "Included" intersections are calculated at a 50 g/t or higher cutoff grade.
- Reported grades are not capped.
- Estimated true widths have not been calculated and the AgEq gram metre product is thus based on the uncorrected core lengths of the intercepts
- + indicated holes are considered preliminary pending QA/QC data for certified standards
- # indicated hole is pending a single assay which has been assumed to have zero grade herein
- ^ the two indicated holes have 5m gaps in sampling which are assumed to have zero grade herein


Appendix 2. Joaquin Project -- Locations of Holes not Included in Current Resource Estimate (includes previously published DDJ- 253 and 254)
Hole
ID
E
GKCI
N
GKCI
Elevation m Az
degrees
Dip
degrees
Length m
DDJ-228 2,458,994.6 4,677,485.0 907.9 234.00 -55.0 120.00
DDJ-229 2,458,887.0 4,677,530.0 912.5 234.00 -50.0 130.00
DDJ-230 2,458,621.5 4,677,270.1 905.2 234.00 -52.0 90.00
DDJ-231 2,458,582.2 4,677,305.5 903.4 234.00 -50.0 92.00
DDJ-232 2,458,849.4 4,677,318.3 910.3 234.00 -50.0 130.80
DDJ-233 2,458,912.0 4,677,299.0 921.0 234.00 -50.0 140.00
DDJ-234 2,458,804.6 4,677,166.8 912.2 234.00 -45.0 77.00
DDJ-235 2,459,030.2 4,677,562.0 921.6 234.00 -50.0 150.00
DDJ-236 2,458,849.6 4,677,561.6 916.3 234.00 -50.0 200.00
DDJ-237 2,458,679.4 4,677,624.5 915.1 234.00 -50.0 110.00
DDJ-238 2,458,557.7 4,677,348.3 902.7 234.00 -45.0 101.00
DDJ-239 2,458,503.1 4,677,627.9 902.8 238.00 -50.0 65.00
DDJ-240 2,458,467.5 4,677,601.2 898.3 235.00 -50.1 60.00
DDJ-241 2,458,463.8 4,677,743.6 896.2 234.00 -47.0 85.00
DDJ-242 2,458,444.7 4,677,580.5 899.1 234.00 -50.0 40.00
DDJ-243 2,458,441.8 4,677,612.6 898.1 235.00 -50.0 41.00
DDJ-244 2,458,408.9 4,677,643.9 898.6 235.00 -50.0 40.00
DDJ-245 2,458,416.6 4,677,680.6 897.6 235.00 -50.0 50.00
DDJ-246 2,458,437.3 4,677,724.9 896.0 232.90 -44.8 60.00
DDJ-247 2,458,416.3 4,677,709.9 897.0 236.00 -47.0 55.00
DDJ-248 2,458,396.7 4,677,695.6 899.3 237.00 -45.0 55.00
DDJ-249 2,458,453.4 4,677,708.7 896.3 234.00 -50.0 65.00
DDJ-250 2,458,433.1 4,677,661.6 897.1 225.00 -85.0 50.00
DDJ-251* 2,458,428.6 4,677,643.8 897.5 0.00 -90.0 50.00
DDJ-252* 2,458,439.8 4,677,624.1 897.9 245.00 -84.5 50.00
DDJ-253* 2,457,130.2 4,677,534.0 935.7 0.00 -90.0 200.00
DDJ-254* 2,457,218.6 4,677,460.9 940.9 0.00 -90.0 194.00
DDJ-255 2,457,270.7 4,677,355.8 944.4 90.00 -88.2 150.00
DDJ-256 2,457,247.7 4,677,322.7 947.7 147.50 -88.2 120.00
DDJ-257 2,457,192.5 4,677,330.0 952.4 122.70 -88.6 90.00
DDJ-258 2,457,240.4 4,677,394.5 943.4 0.00 -90.0 170.00
DDJ-259 2,457,264.0 4,677,428.6 941.7 0.00 -90.0 200.00
DDJ-260 2,457,285.9 4,677,460.6 943.6 0.00 -90.0 221.00
DDJ-261 2,457,158.1 4,677,369.1 950.9 215.00 -50.0 80.00
DDJ-262 2,457,106.2 4,677,467.7 943.2 0.00 -90.0 140.00
DDJ-263 2,457,126.4 4,677,495.4 940.0 0.00 -90.0 170.00
DDJ-264 2,457,162.8 4,677,552.2 935.2 149.00 -89.3 222.00
DDJ-265 2,457,171.2 4,677,392.6 948.6 89.00 -87.0 140.00
DDJ-266 2,457,020.3 4,677,439.5 947.6 318.90 -89.7 90.00
DDJ-267 2,457,063.8 4,677,495.9 939.7 182.00 -89.8 140.00
DDJ-268 2,456,930.7 4,677,483.2 942.3 139.20 -88.2 87.00
DDJ-269 2,457,091.7 4,677,532.5 936.4 76.00 -89.0 191.00
DDJ-270 2,456,962.1 4,677,524.9 936.1 120.00 -87.6 130.00
DDJ-271 2,457,121.7 4,677,550.4 934.6 55.90 -89.8 230.00
DDJ-272 2,457,113.4 4,677,396.3 950.8 212.70 -49.9 90.00
DDJ-273 2,456,989.3 4,677,563.1 928.0 106.00 -89.4 160.00
DDJ-274 2,457,143.7 4,677,435.1 946.7 216.40 -59.6 110.00
DDJ-275 2,457,147.8 4,677,441.2 946.5 185.40 -88.1 143.00
DDJ-276 2,456,936.1 4,677,570.9 925.2 54.00 -89.1 147.00
DDJ-277 2,457,175.1 4,677,478.1 941.4 351.10 -89.4 180.00
DDJ-278 2,456,868.3 4,677,568.1 924.2 202.00 -60.2 80.00
DDJ-279 2,457,204.1 4,677,520.5 938.1 41.50 -89.2 210.00
DDJ-280 2,456,988.2 4,677,470.0 944.1 150.70 -87.7 120.00
DDJ-281 2,456,890.0 4,677,596.7 918.4 170.30 -89.4 147.00
DDJ-282 2,457,023.7 4,677,523.2 934.8 92.30 -88.9 162.00
DDJ-283 2,457,050.5 4,677,564.1 929.5 0.00 -90.0 201.00
* previously published
GKCI = Gauss Kruger Campo Inchauspe coordinates
Data and Statistics for these countries : Argentina | Chile | All
Gold and Silver Prices for these countries : Argentina | Chile | All

Mirasol Resources Ltd.

DEVELOPMENT STAGE
CODE : MRZ.V
ISIN : CA6046801081
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Mirasol Res. is a gold and silver exploration company based in Canada.

Mirasol Res. holds various exploration projects in Argentina.

Its main asset in development is JOAQUIN in Argentina and its main exploration properties are SASCHA, ESPEJO, CLAUDIA, NICO and SANTA RITA SILVER in Argentina.

Mirasol Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 21.1 millions as of today (US$ 16.9 millions, € 14.8 millions).

Its stock quote reached its lowest recent point on October 24, 2008 at CA$ 0.04, and its highest recent level on March 11, 2011 at CA$ 7.94.

Mirasol Res. has 49 120 000 shares outstanding.

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Annual reports of Mirasol Resources Ltd.
2008 Annual Report
Project news of Mirasol Resources Ltd.
5/9/2016(Claudia)Reports Start of Cerro Vanguardia Mines JV Drilling at the C...
4/25/2016Mirasol reports encouraging drilling results from the Atlas ...
3/21/2016Mirasol reports drilling & new geophysical survey results fr...
3/26/2015Mirasol announces joint venture agreement for Gorbea Belt Go...
9/3/2014Mirasol provides exploration update on Rubi copper- gold por...
9/18/2013Options the Rubi Copper Property to First Quantum Minerals L...
9/16/2013Reports Encouraging Trench Results from the Atlas Gold-Silve...
6/26/2013Signs Option Agreement for Gold Exploration Program in Nort...
6/10/2013Reports Initial Encouraging Gold-Silver Surface Results from...
1/17/2013Stakes Nine High Sulphidation Gold Projects in Chile with R...
12/11/2012(Joaquin)Agrees to Sell its Interest in the Joaquin Silver-Gold Proje...
11/9/2012Invitation to the 2012 San Francisco Hard Assets Conference
10/4/2012(Espejo)Finalizes Exploration Agreement for the Espejo Project
6/14/2012(Claudia)Drills the Rio Seco Prospect, Claudia gold-silver Project, A...
3/5/2012(Claudia)reports new gold-silver and geophysical results from the Rio...
2/28/2012Invitation to the 2012 Prospectors and Developers Conference
1/26/2012Reports Initial Results of Phase 3 Drilling at the Virginia...
1/18/2012Commences Phase IV Drilling at the Virginia Silver Project
8/8/2011(Joaquin)Reports Additional Results for the La Negra Deposit, Joaquin...
7/18/2011Significant Silver Intercepts reported from New Veins drille...
6/9/2011(Virginia Argentina)Reports Virginia Silver Project Additional Drill Results
5/12/2011(Virginia Argentina)Reports Additional Phase 2 Drill Results from Virginia Proje...
5/9/2011(Joaquin)Reports Coeur's Initial Resource Estimate for the Joaquin Pr...
4/27/2011(Espejo)signs exploration agreement with Pan American Silver for the...
4/19/2011(Virginia Argentina)Reports Initial Phase 2 Drill Results from Virginia Project ...
3/15/2011(Joaquin)partner Coeur d'Alene elects to take the Joaquin Project to...
2/15/2011(Virginia Argentina)Commences Phase Two Drilling at the Virginia Project, Argent...
7/23/2010(Joaquin)Reports initial results from Phase 4 drilling and commenceme...
2/16/2010Reports Results from New High-Grade Silver Veins at the Virg...
1/11/2010(Joaquin)Updates Joaquin Project Phase Three Drilling Results with Ad...
1/6/2010Reports Discovery of a New High Grade Silver Vein, Santa Cru...
11/24/2009(Joaquin)reports highest grade silver yet from the La Negra zone at J...
10/8/2009(Joaquin)Announces Commencement of Phase Three Drill Program at the J...
8/17/2009(Joaquin)partner Coeur upbeat about Joaquin silver project drill resu...
8/12/2009(Nico)reports the start of 1,600 metre drill program at Nico silve...
7/23/2009(Joaquin)reports high grade silver from the La Negra zone at Joaquin
7/13/2009(Joaquin)New Drill Results Extend Morocha Silver Zone at Joaquin Proj...
6/2/2009(Claudia)Reports Claudia Project Exploration Summary
3/2/2009(Joaquin)Encouraging Silver-Gold Results from Drilling at Mirasol's J...
2/27/2009Announces New High Grade Silver And Gold Showings At The Lib...
2/24/2009La Curva Project Returns High-Grade Gold Values and New Diss...
2/12/2009(Nico)Options the Nico Silver-Gold Project to Coeur d'Alene Mines
1/8/2009(Claudia)Exploration Update for the Claudia Project and Start of Seco...
11/17/2008(Joaquin)commences a 1,700-metre drill program at Joaquin and extends...
6/27/2008(Claudia)increases land holding in strategic silver - gold belt at Es...
5/27/2008(Nico)defines multiple drill targets at the Nico Silver-Gold Proje...
4/11/2008(Claudia)Announces High Grade Gold Results from the Curva Project
Corporate news of Mirasol Resources Ltd.
8/27/2016Grants Options
7/26/2016Mirasol Reports Encouraging Drill Results from Cerro Vanguar...
5/9/2016Mirasol Reports Start of Cerro Vanguardia Mines JV Drilling ...
3/29/2016Mirasol files Amended Resource Report for Virginia Silver Pr...
7/28/2015Mirasol Provides Exploration Update on the Gorbea Belt JV an...
7/27/2015Mirasol expands the large Curahue gold-silver vein system, S...
4/2/2015Mirasol reports that First Quantum Minerals has relinquished...
3/1/2015Chairman of the Mirasol Board
2/13/2015John Tognetti Joins The Mirasol Board
2/11/2015John Tognetti Joins the Mirasol Board
1/28/2015Mirasol Announces Initial Pit Constrained Mineral Resource f...
12/17/2014Mirasol Resources Ltd. Reports On Annual And Special Meeting
12/10/2014Mirasol advances the Atlas gold-silver project in Northern C...
12/1/2014Mirasol reports start of field campaign for the Frontera JV ...
10/21/2014Mirasol -- Redeems Rights Under Shareholder Rights Plan
8/27/2014Mirasol and First Quantum Minerals sign Definitive Explorati...
7/23/2014Mirasol advances Atlas AGZ prospect in the Miocene belt of C...
7/18/2014Mirasol reports high-grade gold and silver assays associated...
5/7/2014Mirasol Announces New CEO
2/26/2014Expands Targets at Atlas High-sulphidation Silver-gold Proje...
2/25/2014Provides Update on Aggressive Exploration Program on the Rub...
2/21/2014Files 43-101 Technical Report and Identifies Exploration Tre...
1/23/2014advances La Curva gold project with geophysics and surface g...
12/16/2013in the News
12/4/2013Announces Results from Annual General and Special Meeting an...
11/25/2013reports positive drill results from Titan gold project in Ch...
11/5/2013Presenting at the Precious Metals Summit Zurich
10/23/2013to Exhibit and Present at the Silver Summit
9/27/2013Featured in Hard Rock Analyst and Northern Miner
9/20/2013Presents at Two Leading Precious Metal Investment Conference...
2/7/2013Reports Successful Initial Metallurgical Test Results on Hig...
1/21/2013Reports Trench Results from the Newly Discovered Titan Gold ...
9/22/2012(Joaquin)Files 43-101 Technical Report with Updated Resource Estimate...
8/7/2012(Joaquin)Reports Coeur's Updated Resource Estimate for the Joaquin Pr...
6/26/2012Summarizes Virginia Silver Project Drill Results on Seven De...
6/21/2012Completes Phase 4 Drilling at the Virginia Silver Project --...
5/7/2012(Joaquin)Reports Joaquin Silver Project Infill Drill Results, Argenti...
4/18/2012(Claudia)reports discovery of a new large gold silver vein zone at th...
4/16/2012(Joaquin)Reports on Exploration Drilling of New Targets, Joaquin Silv...
3/1/2012Reports Final Results of Phase 3 Drilling at the Virginia Si...
2/23/2012(Joaquin)Reports Joaquin Silver Project Expansion Drill Results, Arg...
9/7/2011Summarizes Virginia Silver Project Drill Results on Four Dep...
6/28/2011(Joaquin)Files First NI 43-101 Technical Report on Joaquin Silver Pro...
6/16/2011(Joaquin)Announces Exploration Drilling on the Joaquin Silver Project...
3/4/2010channel samples further upgrade silver values at the Julia V...
2/4/2010in the news: The Northern Miner
12/8/2009profiled in Exploration Insights newsletter
11/5/2009In The News: HRA Journal October 2009
10/20/2009upgrades Libanesa silver-gold project with significant new d...
11/10/2008Corporate Update
7/21/2008Upgrades Libanesa and Identifies new Silver - Gold Target ad...
6/16/2008(Espejo)Completes Espejo Project Geophysical Program and Confirms Dr...
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TSX-V (MRZ.V)OTHER OTC (MRZLF)
0.430+0.00%0.314+4.67%
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24hGold TrendPower© : 21
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