Mirasol Reports Virginia Silver Project Additional Drill Results
Published : June 09, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Argentina | Diamond | Gold | Lead | Recovery | Silver |

VANCOUVER, June 9, 2011 /CNW/ - Mirasol Resources Ltd.  (TSX-V: MRZ, Frankfurt: M8R)  is pleased to announce the results for 15 additional drill holes from the Phase 2 Diamond drilling program at its 100%-owned, Virginia Project in Santa Cruz province, Argentina.  Eight of the 9 new holes reported here contain significant intercepts of silver mineralization, calculated at greater than 30 g/t cut-off grade (Table 1, Figure 1).  This includes a true width intercept of 35.9 metres of 200 g/t silver including 5.7 metres of 669 g/t silver in VG-068 in Julia Central.

Silver mineralization intersected at Julia Central (Figure 2) and Naty (Figure 3) remains completely oxidized to depths tested in excess of 60 metres down dip, and as previously reported, intense oxidation is known to extend below 100 metres depth in the Julia North structure.  New holes at Julia Central (holes VG- 68, 69, 70 and 71) further define a silver shoot of at least 100 metres length and 75 metres depth.  Core recovery in these holes shows a marked improvement relative to earlier drilling, with all intercepts having core recoveries of 83 percent or better, and most reporting recoveries of 90 percent or better (Table 1).

Table 1. Virginia Vein Zone Drill Hole Results - Naty and Julia Central

Hole From
Core Length
True Width
(g/t) 2,3
Silver grade x
true width
(g/t * m)
Core Recovery
Naty Vein
VG-063 92.05 92.70 0.65 0.61         662              404         100
VG-064 80.00 83.00 3.00 2.82         201              567         100
including 81.02 81.82 0.80 0.75         567              426         100
Julia Central
VG-065 21.12 25.00 3.88 2.74           71              196           98
VG-066 no significant assays
VG-067 75.50 79.00 3.50 2.72           35                95           97
VG-068 64.00 105.45 41.45 35.90         200           7,167           93
including 72.19 78.80 6.61 5.72         669           3,832           83
VG-069 72.35 73.90 1.55 1.19         121              144           98
and 85.00 112.00 27.00 20.68           48              998           94
combined 72.35 112.00 39.65 30.37           43           1,306           94
VG-070 9.64 32.00 22.36 19.36           66           1,285           87
VG-071 86.23 99.00 12.77 9.19           66              603           96
including 86.23 87.72 1.49 1.07         278              298           85
and 107.50 121.00 13.50 9.71           56              546           92
combined 86.23 121.00 34.77 25.01           51           1,266           92

Notes:   All analyses done by ALS Laboratory Group.

  1. True widths have been estimated using cross sections of the mineralized intercepts with the geology of the drill hole and surface information and adjacent holes and cross sections.
  2. Silver grades have not been capped and are thus "uncut".
  3. Intercepts are calculated at a 30 g/t silver cutoff with no value given to gold or lead.  "Included"   intercepts are selected so as to show higher grade intervals.
  4. Core recovery is the length weighted average of the intercept quoted.

In addition to the holes published here, Mirasol has completed another 14 infill and expansion holes on the Julia North, Julia Central and Naty veins, and 15 twin holes, and furthermore has drilled 6 holes on other previously untested vein targets elsewhere at Virginia.  Assays for all of these holes are pending.

Also reported here are a series of six twin holes which were undertaken in the presence of Mirasol's drilling consultant in April, with the objective of improving core recoveries in the most challenging areas drilled up to that time (news release April 19, 2011).  The twin holes were drilled with their collars sited approximately one metre behind the original hole and inclined three degrees steeper, in order to intercept the same geological structures as nearly as possible.  Recoveries were greatly improved in these six holes and now range from 84 to 98 percent, which are excellent results by any standard.

Visual comparison of cores from the twin holes with the original holes with poor recovery shows that the material previously lost was soft clay matrix and fault material surrounding the mineralized quartz veins, or occurring as matrix to quartz breccia veins.  The soft clay material was likely washed away during the drilling of the original holes, but through a series of technical improvements was recovered in the twin holes.  Sampling of the twin holes suggests somewhat lower grades on average than in original holes.  Mirasol ascribes this to a concentration effect of higher grade quartz fragments and washing away of lower grade clay material in the original holes.  Thus, the twin holes with higher recovery are believed to be more representative of the in-situ geological structures and mineralization.  Previously, hole VG-048 was twinned and both the twin VG-048A and original hole were reported on (news release May 12, 2011).  In that case no significant change in average grades was detected when recovery was improved.  It is interpreted that washing of clay fines in holes lacking quartz vein material does not produce the same concentration effect noted in the six  holes with twins reported here (Table 2).

Table 2. Virginia Vein Zone Twin Hole Results

Hole From 
Core Length
True Width  
(g/t) 2,3
Silver grade x
true width
(g/t * m)
Core Recovery
VG-014A 7.00 41.00 34.00 33.48         145           4,841           95
including 20.90 25.25 4.35 4.28         581           2,488           92
VG-0145 5.00 34.00 29.00 28.56         327           9,325           69
including 18.00 24.00 6.00 5.91      1,208           7,138           17
VG-016A 20.00 47.00 27.00 23.84         136           3,232           94
including 33.85 37.20 3.35 2.96         571           1,688           95
VG-0165 18.35 45.00 26.65 23.53         319           7,500           70
including 32.00 36.00 4.00 3.53      1,627           5,745           66
VG-017A 27.00 106.90 79.90 63.81         125           7,966           98
including 37.90 44.75 6.85 5.47         912           4,992           95
including 38.85 39.45 0.60 0.47      2,990           1,433         100
VG-0175 26.00 55.00 29.00 23.16         455        10,535           73
including 31.80 42.00 10.20 8.15      1,185          9,657           75
including 35.90 36.50 0.60 0.48    11,361           5,444           71
VG-032A 23.00 60.45 37.45 28.69         131           3,745           98
including 37.25 41.60 4.35 3.33         501           1,670           94
VG-0325 22.00 57.00 35.00 26.81         175           4,680           85
including 35.10 40.30 5.20 3.98         695           2,769           39
VG-040A 15.00 66.00 51.00 47.92           86           4,098           92
including 41.00 48.70 7.70 7.24         205           1,480           84
VG-0405 12.07 75.40 63.33 59.51           92           5,467           78
including 38.15 43.20 5.05 4.75         470           2,230           29
VG-043A 44.00 95.00 51.00 46.22         129           5,969           96
including 54.94 75.02 20.08 18.20         255           4,648           95
VG-0435 41.45 86.50 45.05 40.83         172           7,015           69
including 52.00 63.00 11.00 9.97         485           4,835           56

Notes:   All analyses done by ALS Laboratory Group. Notes 1 through 4 are the same as for Table 1.

5. Previously published but repeated here for comparison to twin hole. Holes VG-14, 16 and 17 intervals were previously calculated using a 50 g/t cut-off, but have been recalculated here at 30 g/t cut-off for direct comparison with Phase 2 holes. Twin holes are designated by the letter "A".

Based upon this new information, Mirasol has identified all holes on the Virginia Project that may exhibit a similar combination of quartz with high grades and soft clay material, and which returned poor core recovery, and has drilled an additional 15 twin holes at Julia North, Julia Central and Naty veins to ensure the highest quality of data is available.  As in the six twin holes reported here, marked improvements in recovery were the norm and the additional twin holes are currently being processed which will be reported in due course.  Given that Mirasol initially selected holes with the highest grade and poorest recovery for the initial six twins, it is hoped that the second round of twin holes will show less variance than those currently reported.

In the course of drilling twin holes and additional holes at Julia North, Mirasol has discovered that the low grade halo of silver mineralization on the east side of the high grade structure can be substantially wider than previously thought.  This is exemplified by VG-017A, where this twin hole was extended well to the east and produced an intercept, at a 30 g/t cut-off, of an estimated true width of 63.8 metres grading 125 g/t silver with 98 percent core recovery (Figure 4, plan view ).

Recently Mirasol expanded the ground magnetic and Induced Polarization (IP) coverage at Virginia to the north and east where a stream sediment geochemical survey has indicated anomalous silver and lead values. Features showing chargeable IP responses have been identified north and northeast of the principal Julia and Naty drilling.  Prospecting, rock sampling and surface mapping have also been completed in this area. Results will be reported when all information is available and interpreted.

Mirasol's management anticipates a strong flow of news from Virginia in the coming months from the Phase 2 Virginia drill campaign.  The 2010-2011 southern field season has been one of tremendous advances in knowledge and understanding of the Virginia silver project.  Drilling results to date have identified significant silver mineralization over substantial widths and strike lengths.  The Virginia Vein zone's apparent continuity, deeply oxidized nature, and near-surface configuration, are all considered positive features that support potential for definition of significant bodies of high quality, silver mineralization that may be amenable to low cost, open cut mining techniques.

Paul G. Lhotka, Principal Geologist 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 Mirasol's Projects is supervised by Stephen C. Nano, Vice President of Exploration; Timothy Heenan, Exploration Manager; and Paul Lhotka, Principal Geologist; all 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. Drill core, 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 Mendoza, Argentina for analysis. Results are routinely examined by an independent geochemist to ensure laboratory performance meets required standards.

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.

For further information:

Mary L. Little 
President and CEO

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

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

Data and Statistics for these countries : Argentina | All
Gold and Silver Prices for these countries : Argentina | All

Mirasol Resources Ltd.

ISIN : CA6046801081
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

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$ 27.5 millions as of today (US$ 22.0 millions, € 19.3 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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
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...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.560
10/12 15:19 0.020
Prev close Open
0.540 0.560
Low High
0.560 0.560
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
0.530 -  1.43 -22.22%
Volume 1 month var.
700 -%
24hGold TrendPower© : 21
Develops Silver
Explores for Gold - Silver
Interactive chart Add to compare
Print Compare Export
Last updated on : 1/15/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 7.62-0.13%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 7.27-0.68%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.67+6.35%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+30.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.13-0.47%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.41-3.59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.22+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.24-2.04%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.44-4.64%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 46.69-0.13%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.02+0.00%Trend Power :