Mirasol reports Phase 1 Rio Seco drilling and new trench results at the Claudia gold silver project

Tuesday, Mar 05, 2013

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.

SOURCE Mirasol Resources Ltd.