More "Confirmation"!! ...Great news!Mirasol Announces Remaining 21 Holes from Virginia Project Phase 1 Drilling-Confirm a Significant High-Grade Silver Discovery
VANCOUVER, BC, January 13, 2011. Mirasol Resources Ltd. (TSX-V: MRZ,Frankfurt: M8R) is pleased to announce results for the remaining 21 holes ofthe Phase 1 diamond drilling program of the Julia Vein at its 100% owned,Virginia Project in Santa Cruz province, Argentina. These results confirm asignificant high-grade silver discovery at the project with multiple new drillholes returning intersections between 9 and 26.6 metres with grades between 250and 1,000 grams per tonne (g/t) silver, which include higher grade internalintervals grading between 1,000 g/t and 6,298 g/t silver.
The 2,200 metrelong Julia Vein has now been tested by 28 diamond HQ diameter drill holes (Figure 1) which targeted the structure at 25 and 50 metresbelow surface. As with the seven previously reported holes, all mineralizedmaterial is strongly oxidized with abundant iron oxides. The only sulphideobserved is galena in minor amounts.
The Julia North segment of thestructure has now been tested by 14 holes and dips at 50 to 80 degrees to thewest. Better intersections from this round of holes (Table 1) include VG-014which returned a true width of 26.59 metres of 348 g/t silver including a highergrade interval of 5.91 metres with 1,208 g/t silver, and VG-028, located 498metres south of hole VG-014, with a true width of 9.33 metres at 654 g/t silver,including a higher grade interval of 5.05 metres of 1,152 g/t silver.
These, with previously announced results from Julia North, demonstratethe continuity of mineralization over a 500 metre strike length and as much as60 metres down dip. The majority of holes have returning impressive widths andsilver grades, in most cases exceeding widths and grades anticipated fromsurface channel sampling. The mineralization is clearly open to the north anddown dip.
New holes on Julia Central and Julia South also containedsignificant intercepts. The widest of these was at Julia South where VG-023intersected a true width of 7.57 metres containing 245 g/t silver including ahigher grade interval of 2.62 metres of 560 g/t silver (Figure 1).
JuliaSouth mineralization continues to be hosted by competent rock with good corerecoveries. At Julia Central and Julia North, faulting in and around themineralized zone continues to produce variable core recoveries. Methods used inlogging and quality control are consistent with industry best practice asdescribed in the previous news release. (December 16, 2010).
New holeshave confirmed the trends indicated by the initial seven holes of Phase 1. As agroup, the 28 holes have provided consistent intercepts of economic interest.Mirasol has resumed surface work on Virginia with a program of mechanicaltrenching commencing on other veins and targets surrounding the Julia Vein. Itis Mirasol's intention to recommence drilling at the Virginia project during thefirst quarter of 2011.
Table 1. Julia Vein Drill Hole Results
| Hole | From
(m) | To
(m) | Core Length
(m) | True Width
(m)1 | Silver
(g/t) 2,3 | Silver grade
x true width
(g/t * m) | Core Recovery
(%)4 |
| Julia North |
| VG-008 | 18.90 | 21.00 | 2.10 | 1.82 | 107 | 195 | 85 |
| VG-008 | 30.00 | 36.00 | 6.00 | 5.20 | 106 | 548 | 40 |
| VG-014 | 5.00 | 32.00 | 27.00 | 26.59 | 348 | 9,242 | 67 |
| including | 18.00 | 24.00 | 6.00 | 5.91 | 1,208 | 7,138 | 17 |
| VG-015 | 16.00 | 24.00 | 8.00 | 7.52 | 108 | 815 | 72 |
| and | 30.00 | 46.00 | 16.00 | 15.04 | 456 | 6,854 | 46 |
| including | 31.00 | 36.00 | 5.00 | 4.70 | 1,215 | 5,708 | 41 |
| or combined | 16.00 | 46.00 | 30.00 | 28.19 | 279 | 7,875 | 54 |
| VG-016 | 20.45 | 43.00 | 22.55 | 19.91 | 368 | 7,319 | 66 |
| including | 32.00 | 36.00 | 4.00 | 3.53 | 1,627 | 5,745 | 66 |
| VG-017 | 30.00 | 43.00 | 13.00 | 10.38 | 892* | 9,260 | 60 |
| including | 35.90 | 37.00 | 1.10 | 0.88 | 6,298* | 5,533 | 75 |
| VG-018 | 34.80 | 35.90 | 1.10 | 0.78 | 304 | 236 | 82 |
| VG-019 | no significant assays | | | | | |
| VG-025 | 55.25 | 78.00 | 22.75 | 18.86 | 249 | 4,689 | 65 |
| including | 62.00 | 66.70 | 4.70 | 3.90 | 872 | 3,399 | 56 |
| VG-026 | 62.45 | 76.57 | 14.12 | 11.71 | 91 | 1,070 | 64 |
| including | 66.70 | 69.00 | 2.30 | 1.91 | 187 | 357 | 63 |
| VG-027 | 70.00 | 81.90 | 11.90 | 9.12 | 716 | 6,531 | 75 |
| including | 75.00 | 78.00 | 3.00 | 2.30 | 1,761 | 4,046 | 90 |
| VG-028 | 60.00 | 72.00 | 12.00 | 9.33 | 654 | 6,097 | 72 |
| including | 63.10 | 69.60 | 6.50 | 5.05 | 1,152 | 5,821 | 64 |
| Julia Central |
| VG-009 | 39.40 | 41.80 | 2.40 | 1.70 | 85 | 144 | 53 |
| VG-013 | 33.00 | 36.80 | 3.80 | 2.73 | 462 | 1,262 | 43 |
| including | 33.00 | 35.50 | 2.50 | 1.80 | 655 | 1,178 | 30 |
| Julia South |
| VG-010 | 31.35 | 34.00 | 2.65 | 2.14 | 81 | 173 | 94 |
| VG-011 | 47.50 | 50.45 | 2.95 | 1.82 | 206 | 374 | 89 |
| including | 49.50 | 50.45 | 0.95 | 0.58 | 437 | 256 | 90 |
| VG-012 | 31.00 | 39.00 | 8.00 | 5.95 | 328 | 1,952 | 86 |
| including | 34.10 | 35.40 | 1.30 | 0.97 | 742 | 717 | 97 |
| VG-020 | 65.00 | 71.70 | 6.70 | 4.74 | 142 | 675 | 97 |
| including | 68.80 | 71.70 | 2.90 | 2.05 | 198 | 406 | 98 |
| VG-021 | hole abandoned due to drilling problems without reaching target | |
| VG-022 | 77.07 | 81.35 | 4.28 | 2.14 | 112 | 239 | 98 |
| VG-023 | 26.00 | 36.70 | 10.70 | 7.57 | 245 | 1,854 | 79 |
| including | 33.00 | 36.70 | 3.70 | 2.62 | 560 | 1,465 | 98 |
| VG-024 | 28.00 | 30.85 | 2.85 | 2.39 | 169 | 403 | 91 |
Notes: All analyses done by ALSLaboratory Group. * A single sample returned an assay of > 10,000 g/t silverand the new assay with higher limits is still pending. These provisional valueswere calculated using a value of 10,000 g/t.